Bitcoin Forum

My first ever Poll!!

Hey just a quick poll to help gauge what the current thinking is on cold wallets and possible long term storage desires.

Please vote for which one you like best long term.
 
Thank you very much!


 

A securely made paper wallet on an airgapped device is still the best among the list in my opinion, with hardware wallets next in line.

What would I choose? If I were to store bitcoin for years and without planning on using it, then most likely a paper wallet. But personally as a person who likes to move funds around all the time, I went with a hardware wallet. It's pretty much the perfect balance of security and usability. Just always make sure to store your recovery seed offline, on a piece of paper or on a cryptosteel.

Anyway, read these if you're unsure of the different types of wallets:

• https://bitcointalk.org/index.php?topic=1631151.0
• https://cryptosec.info/cryptocurrency-wallets/

you are asking the wrong question. as i always say there is no "best wallet" ever. there are only good wallets and you have to choose one based on your needs. all of them are serving a different purpose and each and every one of them have advantages and disadvantages at the same time with strengths and weaknesses both.

for example paper wallets are easy to create, cheap and secure. but they are not durable and you have to be careful in case of printing them (printer memory),... or a hardware wallet will cost you and you still have to write down the backup phrase (the seed) on a piece of paper so you still need a "paper wallet" in addition to your hardware wallet! but hardware wallets are much more convenient when it comes to having regular access to your bitcoins.

An online wallet is definitely not a cold wallet, why would you put that as an option?

If you're looking for a long-term solution and you don't need to access your funds regularly, then paper or steel wallet might be a good option, as long as you can save it correctly.

I'd choose to get into hardware wallet it's the best so far for me.

The reality is that there are people that's choosing online wallet over other options.

Your poll doesn't make sense. "Online wallets" are not cold storage. I also don't consider hardware wallets to be cold wallets since people generally connect them to online computers.

I'm partial to encrypted .dat files copied on multiple cold storage mediums (flash drives, CDs).

I rather to choose hardware wallet which more secure than other kind of wallet. I already have ledger wallet and I just store my cryptocurrencies in my hardware wallet. If you really want to hold many cryptocurrencies I suggest to use hardware wallet.

If you aim to only store your cryptocurrency and won't use it for years, then paper wallet might be good too. You don't have to buy any device.

None of those:

https://dev-notes.eu/2017/08/setup-and-manage-bitcoin-core-cold-storage-wallet/

If the main purpose is for long-term investment a safe and secured created paper wallet is the best possible option. Other than that in case if you want to use it regularly, hardware wallet is the safest wallet for regular usage.

Will stay for hardware wallet. Because we can have full control to our assets. But my suggestion is always back up our wallet because hardware sometime can be broken and of course we wouldn't want to loss our assets because of that.

If you want the best wallet for storing long time, hard wallet is the best option for me.
With hard wallet, you don't need to worry about the security because only you can move your balance.
The chance for getting phished by some website is very high if you using online wallet, avoid it at all costs.

      There is no best wallet. There are many good wallets. A wallet needs to be chosen according to the needs of each investor. If you are an investor looking for a long-term investment, I think paper wallet is the right choice, but you have to be careful to be safe. If you want to make long-term transactions, I think the ideal wallets are hardware. From these hardware wallets, I recommend Ledger Nano S

There are only two cold wallet which I think is good for me, and that is Electrum and Hardware wallet, these are both good for me.
Especially most often that I used was Electrum wallet, were it is already proven and tested.

There are advantages and disadvantages to all wallets and some wallets
are better for certain tasks, for example online wallets are better for trading.

Personally I prefer Hardware wallets because I dont trade and I feel its best
for long term holding as are paper wallets so my coins can stay in my hardware wallet.

I tried almost all wallets and I can confidently tell you that the hardware wallet is the most reliable of them

Currently, cold wallets are the most reliable way to store cryptocurrencies. Better so far nothing has come up. I believe that it is better to spend $ 100 on a cold wallet than constantly worrying about the fact that someone steals your money. In general, technologies are constantly being improved and quite possibly they will soon come up with a wallet that can be unlocked with a fingerprint or voice. The higher the price of cryptocurrency, the more the technologies associated with crypt storage will be developed better and faster.

Online wallets are the most practical and most convenient. I believe that they are the most reliable yet

I mean if you're really serious about not touching the money and you have a bank safe in Switzerland, might as well use a paper wallet.
But reality is, you'll want to flip coins from time to time. At the very least to easily increase your BTC stack.
So a hardware wallet is the best win-win option - the safety of cold storage with the flexibility of a hot wallet.

I use the Coinbase service. They have a cold storage service cryptocurrency.

The disadvantages of this service include a small amount of coins. The service is very good

I would choose hardware wallet if they weren't hackable. Check out this video https://www.youtube.com/watch?v=Y1OBIGslgGM they are showing how it's done.

They managed to hack trezor and ledger wallets in various ways but chances that a skilled hacker will get your wallet in store and messes it up to steal your money later on is very slim.

Hardware Wallets
I think it's the best if you have a reasonable amount
I did not try it yet I only read about it
Where appropriate currency is available
I will keep it in the hardware wallet.

paper wallets are best, hardware is next best thing.

Even it is most convenient wallet there is no assurance that your wallet is totally safe and secure because everything in online can be hacked. So, if you want to use secure and safe wallet you should use hardware wallet like trezor or ledger which you can see many people prefer to use it than on online wallet.

My preference will be a paper wallet for Cold Storage if I am not planning to use the Bitcoin for a few years. It is free and just have to keep the private key safe. Next up will be hardware wallet.

MAGNUM WALLET top ;)

If you do not own a Ledger, then you are not fully protecting your coins.
The biggest difference between a USB stick and a dedicated (hardware wallet) is that your private keys are never exposed, therefore spyware can never touch it.
If you lose the device, you can always recover the keys using the backup seed.
I have owned both a Ledger and Trezor and with the newest version of the Ledger being just released, I think it's still a safer bet.
https://www.coindesk.com/ledger-crypto-wallet-goes-mobile-with-bluetooth-ready-nano-x

I missed the poll but I choose the paper wallet. It suits decentralized structure firstly. And it is also free! And anyone can create as much as wants. No one know who is this wallet owner.

Paper wallet is the best.

I think Hardwallet like trezor is much more safe to store our coin and token. Its true better store our coin and wallet in hardwallet rather than web wallet because many phising link about web wallet. With hard wallet, we control our coin and token

I see everyone is mostly picking a Ledger/hardware wallet but as pixie85 said

There is also other videos like this one: https://www.youtube.com/watch?v=nNBktKw9Is4&t that shows that the ledger can be hacked itself by tricking the bootloader into flashing untrusted firmware

All of them would be the best choice. Keeping all your eggs in one basket is asking for trouble. Spread them out between paper, hardware, and some trusted exchanges for reinvesting (uncold wallet)

I choose Hardware Wallets, because it is much more convenient and safer than all the other methods. In these wallets combines many useful features. I personally use Ledger nano s. There were no difficulties with the work. You can quickly translate cryptocurrency at any time. Even if the wallet breaks, then using the Seed phrase it will be possible to recover the data and no cryptocurrency will be lost.

I basically use online wallet and hardware wallet so I am sure that my bitcoin and token are secure. I use blockchain online wallet and ledger hardware wallet. I do not store all my token in a single so I use online and hardware wallet.

But why you close the poll with only 4 votes? You should leave it open.

My vote goes for the paper wallet printed, all of that cold storage have their vulns and their attacking vectors, but i like the paper ones, i still having a couple of them saved somewhere.

Of course it is hard wallet like ledger nano. Other wallet than hard wallet will have higher potential to be compromised.
But when you want to own hard wallet, you will need to spend your money to buy it.
I think it is worth to buy hard wallet using your money, so your coins will be safe in your possession.

Electrum and multibit.hd are both best for me in my opinion, I had been using this two for a year almost and yet I never encounter such issues about the bitcoin which I keep on it for more than a year honestly speaking mate. Or you  could also use exodus wallet service as well in my perception it was a bit good too.

Electrum is best and user interface is easy to navigate. Multibit also can compete with mentioned wallets. I don't store my coins in desktop or online wallets due to security bugs. Hardware wallets are perfect for cold storage.

In a way yes , but aren't paper wallets best? as they keep your funds offline ? making sure no viruses can affected and you can't loose your funds. Im not stating, if I am wrong please tell me.

Keeping coins on multiple wallets, multi coins multi wallets multi securities. The best type should be as complicated as possible so that it takes as much time to steal the coins.

May I ask opinion about paper wallet? Isn't the best type of cold wallet? First of all it's free and there's a lot of websites that is offering this service for free but we should be careful and check the credibility of the website who's offering this kind of service. Second the private key is in the paper itself and it's not stored somewhere, in other words you hold your private key the only disadvantage of this is that when the paper gets wet or sets in fire it will completely lost as well.

hardware wallet is indeed quite tough about security, when we have set it up properly we will not feel worried about our assets, compared to saving in an online wallet, where irresponsible people attack every day, and we do not know when it can losing our assets

I think paper wallet is the best wallet if you are a long term investor becouse otherwise, if you want to trade, it could waste too much time for you.

For I cannot say there is a best cold wallet, but for my experienced using cold wallet which is Electrum, I never have any issues on this wallet ever since I started to use it. Just all I know is we need to keep and save the private key, password or seed phrase if they are requiring it. So that your account will not be hack by someone who is the hacker.