Bitcoin Forum

What best cold storage for bitcoin?
How think Is paper wallet good for it?
I want use cold storage for save my bitcoin, need your advices friends..
Thanks for help.

My opinion is that the best store of bitcoin is the account verified on the exchange. First, you always have the ability to quickly sell their bitcoins, and secondly you can earn by selling and buying coins. Why keep it in the fridge?

In my opinion saving bitcoin in an offline wallet is the best as compared to other ways of storing bitcoin.Although it has its own disadvantages, like in a situation whereby there is a fire outbreak in the place is been kept.

I dont know which is the best, and i never tried it, but you can try electrum, i know its simple and reliable
Now im using localbitcoin/blockchain online wallet

yes i use it to, it's simple you can make many wallet on that

it depends on how much you are willing to spend and how much work you are going to put in.
you can simply buy a hardware wallet and store your bitcoin in it. but it is going to cost you and the prices have gone up because of increasing demand for hardware wallets.

you can also create a paper wallet with bitaddress.org on your own but that requires some additional work, like downloading it from source and running it on a clean offline computer and then securely print it in a way that it is not damaged over time and maybe encrypt it so noone can simply read and use it!!
spending from a paper wallet is harder than a hardware wallet too.

That's the shittest advice that it's humanly possible to give.

Go and take a long look at yourself in the mirror and disinfect your keyboard. Because it's caked in feculence.

Firstly, just to clear up some confusion, examples of cold storage include:

Hardware Wallets
These wallets are shaped as a usb and contain your private keys and all your Bitcoin. Some examples include ledger wallets and trezors.

Paper Wallets
A document that contains all your private keys.

Physical Bitcoin
A physical item that contains your bitcoins.

Holy crap.

Exchanges are the worst and most insecure places to store bitcoin. They aren't as convenient as mobile or online wallets and they aren't as safe as them. Some forms of online wallets even protect against the hard fork, while with exchanges you have a zero percent chance of doing that.

Just use electrum.

Paper wallets are cheap and quite effective, but isn't really the ultimate form of cold storage. I personally give my preference to the Ledger Nano S. When it comes to cold storage, I always prefer security over convenience. In that regard, the Ledger Nano S is the perfect piece of gear that will give you that extra bit of security, and won't be costing you a whole lot. The most important thing the Ledger offers, is that you aren't setting everything up on your computer like is the case with other hardware wallets.  Everything happens on the device itsef - most importantly think about importing seeds. It has two buttons that require a whole lot clicking in order to get the job done, but again - security always over convenience. Unfortunately for people looking to buy one from the Ledger wallet site itself, due to the popularity of these devices, they aren't directly in stock - earliest shipping date is September 15th this year.

First you need a verified wallet.And you need a good coin exchanger. Because bitcoin to buy and sell.

Hardware wallet is good, but need time for shipping.. My choice Ledger Nano S.
But know I want to create a paper wallet.
Is bitaddress.org safe?

Yes, bitaddress.org is safe. You view the code on Github. If you wish, you can dl the file to USB and transfer to a computer that has never and will never access the Internet to generate keys.

Armory is a good option.

I haven't tried hardware wallet yet so I can't comment on it. However, I use the paper wallet as my cold storage which is cost effective, user-friendly and secure in my opinion.

However, there are the cases where users lost their funds sent to their paper wallets just because there were security flaws in the process of generating the paper wallet. Thus if you are looking to hold your funds in the paper wallet then make sure you maintaining extreme security while generating paper wallet. Even a small mistake can leak your private keys so you should be careful throughout the process and even maintain backups for the same.

I see following crucial points to remember while holding Bitcoins in the paper wallet.

1) Generating Wallet - Maintaining extreme security precautions while generating paper wallet.

2) Maintaining Wallet - Since it is a paper wallet, it is perishable in the long run so usb/cd backup is a must. Even one should store it like cash (i.e - securely).

3) Restoring Wallet - Again this is a crucial step, one must sweep all of his balance while retrieving the funds from the paper wallet otherwise he might lose rest of the funds if he is trying to restrive the part of it.

I use Electrum portable with a very long password I have to enter first before I can access my wallet. It is stored on my hard drive, a backup hard drive (only connected to the PC if I want to backup files) and a USB drive I carry with me. If I lose the USB stick, noone can access the wallet without the password. And in this case I would move the coins to a new address, just to be on the safe side.
Also, the private keys to the addresses in the Electrum wallet are stored in an encryted form in a password manger (http://keepass.info, it's open source and free). So if I lose my wallet, I still have the private keys to my addresses with my coins in it.

This is a pretty good suggestion because enough to verify the wallet was safe enough to store a number of bitcoin, especially if we use security 2fa .. and storage in exchanger spelled out pretty very safe  probably almost be regarded as a mustshil for us to lose bitcoin in the exchanger

what the hell are you talking about :D
storing your coins on an exchange wallet is the least safe way in the whole world. have you never heard of all the exchanges that either scammed their users or got hacked and ran away?
the list is almost too long now. Mt Gox, Btter, Cryptsy, Bitfinex, and a lot of smaller exchanges and I think we can add btc-e which was closed down by FBI to the list of exchanges that people lost their coins on.

I have heard lot of people talking about storing their bitcoins in paper wallets, I really do know what that is and I would like someone to put me through how a paper wallet works and all the requirements for running or owning one

Are your serious? Do you live on earth? Millions of times we keep saying to not store your coins in any exchanges, it is not a safe habit in any way. It's maybe one of the less safe places to do it... And you tell to the OP to store his coins on an exchange???? I think people will never learn until it happens to them.

That was indeed the worst advice ever. Tell this to the people who had coins on Mintpal or MtGox.

If you are planning to keep your bitcoin in a long period better have an offline wallet I would always suggest it because it will give you the security you want. Having an online wallet is also good just be sure you properly encrypt it with a strong password it's just a matter of proper protection on your wallet and always keep your password private.

For most people the best cold storage will be a hardware wallet. Trezor was first followed by Ledger then later KeepKey. KeepKey uses a fork of Trezor software. Digital Bitbox (https://digitalbitbox.com/index) is also an option but limited to Bitcoin and Ether.

You can get a Trezor (https://trezor.io/) right away. Nano S from Ledger is not shipping until end of September. KeepKey is very pretty but I figure if you are going to use Trezor code why not stick with the original.

:D :D yes, burn or lose, will probably cry

The person behind the topic is asking the best cold storage for bitcoin, therefore exchange is not a cold storage where you can store your bitcoin. It is not advisable also to store in the exchange if you have a huge amount of bitcoin. So, for what I can recommend is download Electrum wallet this is a very safe wallet where you can store your bitcoin safely. Just save the password and the seed words in your USB or
somewhere else in your desktop or laptop.

Exchange might be the last place you want to hold your currency coins unless you are trading on a daily basis. The best way to store your coins right now is via hardware wallet but all the reliable and reputable ones cost quite a bit.

There will probably be a backlog even if you order now, a million dollars industry yet nobody is entering with a budget / more affordable hardware wallet. I wonder if it's technically challenging to create one or just nobody else want a share of that pie. Anyway, for hardware wallet, you can try taking a look at Nano S Ledger or Cryposteel (both hardware wallet but operate quite differently).

I can't believe a full member on this forum can give this kind of advice! But who am I to judge anyway? OP requested for a cold storage and you brought up an exchange as the best way? Do you even have a slight idea of what a cold storage means?
By the way, OP, if you are looking for a cold storage, I will advise you go for a hardware wallet like Trezor or Ledger Nano. They are quite affordable but if you do not have the bux, you can just go for a paper wallet instead and keep it in a very safe place.
You may also try some good light desktop wallets like electrum or exodus which gives you access to your private key.  Once you open one, you can just back up your account, keep the backups safely at least offline, and only access whenever you need it. All you need is just your public address to receive bitcoins anyway. Please remember that if you are going to make use of this, desktop wallets are as safe as your PC.

For sue it is very important to keep our bitcoin save because it is the only thing on which you can depend for your future that it will give you a secure future so there are some wallets such as hardware wallet which is good but it takes time for the shipping so some other like Nano s and the paper wallets and blockchain is also being use so it is not difficult to make your bitcoin save now.

Honestly I think Trezor is fine, but unnecessary.
My personal method of choice is distributed (copies of) BIP38 encrypted paper wallets, costs next to nothing (just the price of the paper), and these encrypted keys can also be safely stored on digital devices as well for redundancy as they are encrypted and safe as long as your password is strong.
I think you're being a bit paranoid with your printer tbh, I mean it never hurts to be safe but the chances of your printer being compromised are really next to nil.