How to manage holding many different altcoins?

[bitcoinrocks]

I hold 20 or so different altcoins and I keep most of them at Poloniex.  I'd rather not have them in a centralized exchange due to the potential for it to be hacked, but I don't want to run 20 different wallets either.  Running a bunch of software from questionable sources is not a security risk I can take.  I could run 20 different virtual machines but that would become way too time-consuming.  Any advice on how to manage this?

[oblivi]

I hold 20 or so different altcoins and I keep most of them at Poloniex.  I'd rather not have them in a centralized exchange due to the potential for it to be hacked, but I don't want to run 20 different wallets either.  Running a bunch of software from questionable sources is not a security risk I can take.  I could run 20 different virtual machines but that would become way too time-consuming.  Any advice on how to manage this?

I dont see why would anyone hold 20 coins long term enough that you would need to get them out of the exchange.
If that was the case the only safe way is indeed running 20 different wallets. Good luck with that. I have tons of alts that are useless nowadays and have them listed in cryptofolio.info just in case a pump ever happens.

[MicroGuy]

I hold 20 or so different altcoins and I keep most of them at Poloniex.  I'd rather not have them in a centralized exchange due to the potential for it to be hacked, but I don't want to run 20 different wallets either.  Running a bunch of software from questionable sources is not a security risk I can take.  I could run 20 different virtual machines but that would become way too time-consuming.  Any advice on how to manage this?

If you insist on keeping them off exchanges, the most common ways are to run local wallets, or store wallet.dat's, or create paper wallets.

The new Goldcoin (GLD) client will have the ability to store multiple coins so that will be another option available soon.

[BTCDDev]

MultiGateway

[sana9821]

exchange is best choice if you don't want to manage a lot of stuff like wallets and chains
other option can be paper wallet but then will also need you to run the software when you want to put them live, exchange is best place so you can access them quicky whenever you want , don't have to wait long time to get them back up

[bitcoinrocks]

MultiGateway

I like the concept pretty well but coin support is somewhat limited and it's centralized.

[bitcoinrocks]

exchange is best choice if you don't want to manage a lot of stuff like wallets and chains

I think you're right.  I guess I'll run the software for the stuff I hold a lot of and keep the rest in an exchange.

[Neotox]

exchange is best choice if you don't want to manage a lot of stuff like wallets and chains

I think you're right.  I guess I'll run the software for the stuff I hold a lot of and keep the rest in an exchange.

yes better keep major ones in your software wallet and rest in exchange wallet

[michietn94]

exchange is best choice if you don't want to manage a lot of stuff like wallets and chains

I think you're right.  I guess I'll run the software for the stuff I hold a lot of and keep the rest in an exchange.

yes better keep major ones in your software wallet and rest in exchange wallet

But keeping them on exchanger have their own risk. As we know mintpal,shareX,& Bter incident (some off them was shutdown, some scam).
Maybe , download each wallet still the best option. But what I can say if you wanted to keep 20 altcoin, there's always a risk upon it. Good luck sir

[bitcoinrocks]

What about keeping various coins/assets on BTC addresses?  For example, XCP, MAID, and CHA can all be kept on BTC addresses.  How best to manage that?  I think I should keep them all on separate addresses for security.  How about using "New Wallet" from within Multibit for each coin/asset?

[cryptocult live]

I've got several seperate machines for different trust levels of coins. I run 30 wallets. All fine here.

[spartak_t]

Imo the best way is to have separate computer for the wallets. Saves a lot of troubles and the expenses for electricity are not that much.

[mullick]

Your best bet would be to run a linux system for them. And run the daemons not the qt wallets. A headless linux installation will save you considerable resources. You could get away with maybe 8Gb of ram and a decent quad core cpu.

That depends heavily on the coins you are running as well. Proof of stake coins take up more cpu space. And larger blockchains more ram. Some coins are just plain resource hogs. Eating up 4+Gb of ram and a whole cpu core around the clock

They will all chew through your cpu when attempting the initial sync

Dont forget to encrypt them all with unique passphrases, Clear your bash history and take backups as often as possible

[Miracal]

Your best bet would be to run a linux system for them. And run the daemons not the qt wallets. A headless linux installation will save you considerable resources. You could get away with maybe 8Gb of ram and a decent quad core cpu.

That depends heavily on the coins you are running as well. Proof of stake coins take up more cpu space. And larger blockchains more ram. Some coins are just plain resource hogs. Eating up 4+Gb of ram and a whole cpu core around the clock

They will all chew through your cpu when attempting the initial sync

Dont forget to encrypt them all with unique passphrases, Clear your bash history and take backups as often as possible

I got about 10 altcoins wallet encyptes with unique passphrase. I don't need to run PoW altcoins and only run the PoS coins wallets once a month or two. Every time I just run one or two walle