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Title: Best method of storing large stash? Post by: invisiblehand on November 26, 2013, 12:11:30 AM What is a good method of storing a large stash of bitcoins?
How is blockchain.info wallet for this? Is it safe? What is a good way to diversify and minimize risks? I am also counting as risks the possibility of losing coins in cyberspace, losing passwords, losing track of coin stashes, and getting locked out of accounts Title: Re: Best method of storing large stash? Post by: beetcoin on November 26, 2013, 12:14:26 AM there should be a sticky with this info for the newbie forum.. i see this question asked nearly every day.
go with a cold wallet client.. look up electrum, multibit, or armory. you can install watching-only wallets on a computer, so you can check the status of your wallet, but you won't be able to send any coins out unless you sign it (which is done with a version on a separate computer that has the private key). it's much safer than blockchain.info. Title: Re: Best method of storing large stash? Post by: PenAndPaper on November 26, 2013, 12:17:19 AM Blockchain.info is an online wallet and there are 2 online wallets that got hacked only recently so it is probably not the best choice for a large stack.
You should distribute your coins to mitigate risk. Use different wallets with different passwords, store them in different places, make some paper wallets maybe have some online for your day to day needs etc. Title: Re: Best method of storing large stash? Post by: lolbitcoins on November 26, 2013, 12:18:30 AM I agree. Local is the only way to go with a semi-large stash. Be sure to back up your wallet.dat on multiple USBs and perhaps a paper wallet too. Can't be too careful. I've lost many of coins by keeping them on now defunct exchanges.
Title: Re: Best method of storing large stash? Post by: co5hike on November 26, 2013, 12:46:19 AM I am also counting as risks the possibility of losing coins in cyberspace, losing passwords, losing track of coin stashes, and getting locked out of accounts I preffer paper wallets: [ANN] bitaddress.org Safe JavaScript Bitcoin address/private key https://bitcointalk.org/index.php?topic=43496.0 Title: Re: Best method of storing large stash? Post by: coinordie on November 26, 2013, 01:19:07 AM Paper Wallets would be the solution. Makes it harder to spend them and easier to guard them assuming you're able to place this item somewhere that's safe and DON'T forget.
You're be out of luck if you do. Title: Re: Best method of storing large stash? Post by: Sindelar1938 on November 26, 2013, 01:40:24 AM Offline paper wallet
Blockchain.info is oky for small amounts Title: Re: Best method of storing large stash? Post by: qazwsx on November 26, 2013, 02:11:42 AM I guess it depends on the amount of bitcoins.
If we're talking about a lot of bitcoins, I would consider paperwallet stored in a safe (should be big one which cant be removed).. Title: Re: Best method of storing large stash? Post by: Edoxal on November 26, 2013, 02:25:37 AM My preference would be a cold wallet like electrum. Wallet is possible to recover as well with the wallet seed.
Title: Re: Best method of storing large stash? Post by: Itun on November 26, 2013, 02:34:04 AM The safest of the wallets are the offline wallets.
I would suggest you use that if you are storing a lot of BTC (but I guess that number is subjective). However, the downside to that is that offline wallets are inconvenient, as in they're not portable like online wallets are. I think coinbase is a good alternative. They seem very secure. Title: Re: Best method of storing large stash? Post by: invisiblehand on November 26, 2013, 03:34:50 AM Nobody here seems familiar with blockchain.info
It is a "hybrid" online wallet which is unlike coinbase or others recently hacked Can anyone specifically comment on blockchain.info, please no cursory answers |