Bitcoin Forum

Other => Beginners & Help => Topic started by: viking02 on December 19, 2014, 07:05:53 PM



Title: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: viking02 on December 19, 2014, 07:05:53 PM
Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?





Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: AltcoinInvestor on December 19, 2014, 07:08:57 PM
I guess you and anyone shouldn't

Even papar wallet you should splitt the coins.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: Injust on December 19, 2014, 07:45:55 PM
Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?





I used to keep all my coins on Blockchain.info, but then I decided it was too risky, so right now, I have the private keys encrypted and uploaded to cloud storage. Not sure how much safer that is, though.
I would get some paper wallets, but I'm afraid that I'll lose them or they will become damaged (e.g. water, fire).
Now, I'm thinking of getting some physical Bitcoins.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: KIRAZ on December 19, 2014, 08:05:55 PM
Never had that much yet in bitcoins but if i were to i would have split them into different paper wallets or just bought a hardware wallet.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: crazy-pilot on December 19, 2014, 08:11:11 PM
Definitely no, spread across a couple hardware / cold storages. Only keep small amount on mobile for small payments (small in my case is 100$ max on my device at a given time). 


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: axel2078 on December 19, 2014, 08:37:40 PM
I'd definitely recommend a paper wallet or a hardware wallet.  I prefer the paper wallet method because it's free, but to each his own.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: Wed on December 19, 2014, 10:20:47 PM
Never leave more than pocket money on an online wallet.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: LiteCoinGuy on December 19, 2014, 10:53:03 PM
Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?






no. you should keep that in a hardware wallet like these:

https://bitcointalk.org/index.php?topic=899253.0


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: rz20 on December 19, 2014, 11:41:13 PM
If you have that amount of money you better hold it yourself in a paperwallet instead of holding it in a 3rd party. Is like if you have 10k$ in an unknown bank.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: viking02 on December 19, 2014, 11:50:54 PM
The issue with paper wallet is i would be sending btc and receiving it.  So you saying keep the paper wallet on me at all times when i do these transactions?  Thing is im not looking to keep btc long term and store it somewhere like imagine i store gold or some document in a safety deposit box that i would go there every once in a while.  I would plan to do probably 10 transactions a month at the max... but definitely close to 1 a week, whether its sending the btc to sites or receiving it and then send to coinbase to sell back to bank account.




Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: princesocapuyo on December 20, 2014, 01:42:11 AM
The issue with paper wallet is i would be sending btc and receiving it.  So you saying keep the paper wallet on me at all times when i do these transactions?  Thing is im not looking to keep btc long term and store it somewhere like imagine i store gold or some document in a safety deposit box that i would go there every once in a while.  I would plan to do probably 10 transactions a month at the max... but definitely close to 1 a week, whether its sending the btc to sites or receiving it and then send to coinbase to sell back to bank account.




You don't necessarily have to keep BTC for a long time if you're using a paper wallet, in fact paper wallets are just a safer way to work with BTC, it's just like coinbase but better. It's not difficult to keep your paper wallet on you most of the time, you can put it on a USB or on your computer. If you need to use coinbase store all your btc in the paper wallet and make the transactions from there.

Paper wallets are not like deposit boxes, most people use them for long-term storage but you can work short-term with them. If it's 10k we're talking about then it's definitely worth using that kind of wallet even if it takes a bit more effort/time.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: rz20 on December 20, 2014, 02:20:15 AM
The issue with paper wallet is i would be sending btc and receiving it.  So you saying keep the paper wallet on me at all times when i do these transactions?  Thing is im not looking to keep btc long term and store it somewhere like imagine i store gold or some document in a safety deposit box that i would go there every once in a while.  I would plan to do probably 10 transactions a month at the max... but definitely close to 1 a week, whether its sending the btc to sites or receiving it and then send to coinbase to sell back to bank account.



Maybe you can use an electrum seed it will be as safer as a paper wallet but easier to save all your wallets in a 12 words password.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: ticoti on December 20, 2014, 02:28:01 AM
there are many people that do it but it is not recommended at all


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: TrailingComet on December 20, 2014, 02:31:31 AM
You would have to be a moron or incredibly brave to do that. I keep less than 100 bucks...


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: sgk on December 20, 2014, 06:09:58 AM
Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?

The only one who should keep $10k of Bitcoins in a hot wallet is the one who owns millions of dollars and can afford to lose $10k.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: sangwan1212 on December 20, 2014, 06:14:19 AM
Keep money in online wallets only what you can afford to loose in any case you loose :(


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: dinda22 on December 20, 2014, 08:19:52 AM
yes it definitely, while waiting for the price to the $ 10K  ;D


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: Bananana on December 20, 2014, 10:44:17 AM
Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?


Why not keep it yourself in your computer, im pretty sure its safer then putting in online wallet. You can always use bitcoin-core as a wallet and some anti-virus software.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: Wed on December 20, 2014, 11:13:58 AM
Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?


Why not keep it yourself in your computer, im pretty sure its safer then putting in online wallet. You can always use bitcoin-core as a wallet and some anti-virus software.

Or just use Linux/Max OS X instead of Windows + Anti Virus and Anti Spyware and Firewall and some other additional applications ;-)


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: ikydesu on December 20, 2014, 02:31:55 PM
Too much money to save on online wallet, you should keep your btc to hardware wallet like trezor, ect.
Or wallet desktop  like core and ect.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: Amph on December 20, 2014, 02:42:15 PM
no too risky, better to hold them in a cold storage, like usb, or you can build a dedicated desktop only for the bitcoin client(i find it more secure than a VM to be honest)


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: Farmer17 on December 20, 2014, 03:43:22 PM
Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?


I don't have $10000 in bitcoin in total, but I am keeping 90% of my bitcoin in a paper wallet.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: viking02 on December 20, 2014, 06:07:31 PM
So i posted in another forum and this is what someone told me and want your opinion on this.  I mentioned that i kept over $10000 in 5dimes previously and they said if i kept that much in a sportsbook online, then i shouldn't have any issue with keeping over $10000 in coinbase.  Do you guys agree/disagree with this statement?  For me, i would feel safer keeping $25000 on 5dimes then even $5000 on coinbase/blockchain based on what i had read about it here recently.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: sgk on January 01, 2015, 05:34:55 AM
So i posted in another forum and this is what someone told me and want your opinion on this.  I mentioned that i kept over $10000 in 5dimes previously and they said if i kept that much in a sportsbook online, then i shouldn't have any issue with keeping over $10000 in coinbase.  Do you guys agree/disagree with this statement?  For me, i would feel safer keeping $25000 on 5dimes then even $5000 on coinbase/blockchain based on what i had read about it here recently.

Honestly I don't have any experience with 5dimes, but Coinbase and Blockchain are considered to be one of the safest and trusted platforms.

Blockchain.info had some security glitch that exposed private keys of some users, but it has been apparently been fixed now.

But then again, $10,000 is a great deal of amount to keep online; regardless of the platform is trusted or not.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: twister on January 01, 2015, 06:15:19 AM
I don't have $10k worth of BTC but to answer your Question, No, I don't even keep $100 worth BTC in any on-line wallet/exchange.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: crazy-pilot on January 01, 2015, 08:03:10 AM
of course not! Cold storage / hardware storage. I prefer to split it amongst different cold storages / hardware storages.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: Domino on January 01, 2015, 11:29:32 AM
You shouldn't, but from the mtgox and inputs.io incident, we do know that some bitcoiners have kept a crazy amount (hundreds or even thousands of bitcoin) in their accounts.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: Bananana on January 01, 2015, 01:58:31 PM
It really depends if $10k means a lot to you, some keep up to millions of $ online exchange site. I my self only keep 5k max.


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: antonioserrano72 on January 02, 2015, 08:55:47 AM
If $10k is not much to you if you were to lose it then I am sure there are some people out there who do so. Perhaps they want to keep a nice amount for instant spending, $10k in BTC is a nice little travel wallet if you ask me :D


Title: Re: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?
Post by: fearlesscat10 on January 02, 2015, 09:03:20 AM
IMO it'd be better to keep that much money in a paper or hardware wallet. But for me that'd be too much even for a hardware wallet.

If I were you, I'd put around $9000 in a paper wallet and keep the $1000 in a hardware wallet for daily transactions.