Bitcoin Forum

I'm not tech savvy and I need to know the least complicated way to get a Bitecoin and Litecoin wallet and how to store the currency for long periods of time. I want to have no risk of having it hacked and stolen.

How do most of you store your currency?

I guess paper wallets are a pretty secure way to store your coins for a long period. Have a look at https://www.bitaddress.org and https://liteaddress.org/

Paper, but I was looking at getting some metal and a letter punch actually....

As soon as there's Casascius Litecoins, we may have a good way ; pp  8)

Ok lets say I print this wallet how do I add funds to it and see the balance etc? It's a little confusing to me on how it works?

You send coins to the address and can look them up on blockchain.info. Use something like bitaddress.org/blockhcain.info to create a paper wallet.

To store Bitcoins and Namecoins the most secure way is to use a deterministic wallet.
You memorize a long and unpredictable seed then you import the created private keys in an encrypted wallet and use from there.

I think a regular computer software wallet that you have encrypted with PGP, truecrypt, etc is better than paper wallet.  Anyone with access can read the key on the paper wallet when cannot do with the software one.  You can back it up a few times including on the cloud so no significant risk of losing it.

Even with paper wallet in bank safety deposit box, what if bank gets bombed or meteor hits it or anything else.  I prefer encrypted software version but of course you need to remember the password for it and/or give it to a trusted friend or family member in case you have brain damage or perish off this earth.

Which computer program do you use for this? Is there any easy to understand online tutorial that show you how to do this?