Bitcoin Forum

 I have made a 5 figure investment into the top 40 coins on coinmarketcap (to diversify my holdings) for a long term investment.

 Obviously I do not want to leave the balance on the exchange, so I am wanting to put as many into cold storage as possible.

 I will use myetherwallet and bitaddress where possible to create paper wallets, however there will still be a lot of coins I need to store.
 
 Any recommendations for other paper wallets that would be suitable or should I just use the wallets that each coin's website links to ?


 Many thanks for advice

Wow, are you serious?

Sorry to burst your bubble, but you should be more worried about learning about crypto tech and market economics before worrying yourself with cold storage.

putting that large amount of money into the top 40 seems like an absolutely terrible thing to do.
Also, I am assuming you did it recently?
Here are some things that can really come back to bite you:

#1) The market is incredibly inflated right now, it is actually the worst time to buy coins for long term holding.  Especially the top 40 coins are being ridiculously pumped in prices now.

#2) Coinmarketcap is an incredibly misleading tool to determine a coin's value.  The prices you see are just the going price of the coin in btc, then converted to be displayed in usd based on btc's going rate.  That is way something like, say einsteinium pops up in the top 40 because a pump and dump group drove the btc price of it up, then in one week it will dissapear into the top 200 or 300 coins.

#3) Even with a five figure investment, spreading it accross 40 coins will not give you substantial gains in the long run.  I highly doubt that will even lower your risks.  In order for a crypto investment to actually make money, it has to outperform btc or eth's price (to a certain extent ltc also) increases because those two are the ones you can convert to fiat.  There is no way that all 40 of those will outperfom btc, especially in the long term. That is why most investors want to keep 50 to 70% of their investments in btc.

The good news is that the market is still pumping now (especially for lower priced coins) so you can move them around without too much of a loss or maybe even a little profit.

I would recommend putting 50% in btc, 20% in eth, and the rest in projects that you have really researched about and you believe have a good future (we are talking more than just the next couple months).

 Hi, thanks for the reply.

 I have not spread the entire amount evenly amongst the coins and not all of them have been purchased, but the lowest one was no. 40 on coinmarketcap so for the sake of brevity that was how I posted originally.

 The coins were purchased a while back but now I am happy with the spread/diversification I want to secure them properly.

 
 
 There are various other coin projects I am looking at and will probably make some more smaller investments, but for my long term holds I want peace of mind that if the exchange does a runner my funds are safe.
 
 

I personally feel the same way about exchanges as well.  but the ledgernano cannot support most of top coins.  So I just concentrate most of my token purchases that I can store in cold storage and leave the rest on exchanges. 

Well, if that's the case, that makes more sense.

A really easy solution would be to just get a ledger nano and then lock that up in a safe.

 I agree with the Nano/Trezor, however some coins are not supported such as Monero, these are the ones that I have to get 'offline' where possible and on here there is a lot of knowledge of wallet storage that I am probably not aware of

People do have multiple coins today and always invest into another coin after another but putting them all into a single cold storage might be the most difficult thing to happen this time.
I got a lot of coins also but I couldn't find a single app or wallet that could pack together in one place.

exchanges not a good place to store your tokens.

Store coins that are supported by hardware wallets like trezor and ledger if not than save it in jaxx, exodus, coinomi like multicoin spv wallets.

Storing coins in exchange or any other web wallets is risky and it can easily get hacked or frozen like many are still struggling to get back access to their coin in bittrex, bittrex locked thousands of accounts without any warning and still silent about it.  >:(