Which is safest wallet for bitcoin long term holding?

[puloweh555]

So my question is, apart from electrum wallet which other wallet is the safest for long term holding of bitcoin?.

Maybe here you will find the answer. Reminder: do not keep your money in online accounts

With the current reduction of price in Bitcoin, is it the best time to buy bitcoin or should I still wait for the dip?.
Though I have seen some post talking about "buy now or wait for the dip" but the debating answers got me confused, so I need the final clarity from you guys.

If the previous debating answers got you confused what's the chance that the ones you'll get now wouldn't maintain the confusion more deeper. No one should tell you why to do, the market is open for everyone to study and make their decision, even those of us giving you answers aren't sure of the next action of the bitcoin price wether more dip or bull. Take decision for yourself so you can be responsible for yourself in whatever later happens to the bitcoin price. Do your study!

In the long term, bitcoin will become an alternative investment instrument and could be the best in the next generation.
Hopefully we can all reap maximum profits after the halving. Indeed, many people debate when talking about bitcoin, when is the right time to buy it and when the price rises. But believe me, bitcoin will reach a new ATH after Halving, let's not get busy arguing, but forget to buy bitcoin. It's better to buy bitcoin now and hold it, don't regret it later.

[dkbit98]

So my question is, apart from electrum wallet which other wallet is the safest for long term holding of bitcoin?.

Best option for most people to hold Bitcoin long term is good open source hardware wallet, something like Passport and Jade are good because they are airgapped, but Bitbox and Trezor are also acceptable.
If you don't want to spend money on hardware wallets, you can always use your old smartphone (or laptop) and turn it into cold storage without internet/mobile connection.
Whatever wallet you use it is more important that you make sure seed words backup is offline written on paper or metal, and in safe place.

[Stalker22]

So my question is, apart from electrum wallet which other wallet is the safest for long term holding of bitcoin?.

Many have already mentioned that the most likely safest solution for long-term Bitcoin storage typically involves using a hardware wallet. However, I would like to add that if it is truly for the long term, in that case, you may not even need a wallet. Keeping your seed phrase in a safe and secure location (preferably in multiple copies) could suffice. Just make sure to generate the wallet on a clean and air-gapped device, write down the seed phrase (or even engrave it on a metal plate), export the public addresses that you will use for deposits, and then erase all digital traces of the wallet. Optionally, you can export xPub (or zPub) keys to external media to create a watch-only wallet on an online connected device if needed.

[jcojci]

The answer is relative to those who use each wallet. As you can see, each person suggests a different wallet because it is based on their own experience. It will make you confused because you get lots of references about which wallet is the safest.

All the recommended wallets on bitcoin.org are safe, but it depends on the use of each person. If that person can't guard or doesn't know how to secure his wallet, it will be useless.

I choose Electrum, Trezor, Passport, and Ledger Nano S. After you know other people's advice, it's time to choose which wallet you think is safe. Happy choosing.

[Sarah Azhari]

So my question is, apart from electrum wallet which other wallet is the safest for long term holding of bitcoin?.

Electrum is a hot wallet, so if you are using electrum default hot wallet, then it isn't safe for long term holding. The safest wallet for hodling Bitcoin for the long term is wallets that are offline, wallets like hardware wallets or air-gapped wallets (of which you can create with electrum).

Hot or Cold wallets are depend on people's opinions. For me, because Electrum wallet I often do use it offline, (where I can create and sign transactions offline), I assume that Electrum wallet is a kind of cold wallet, such as a hardware wallet. You can use Electrum wallet also on air gaped devices where never connected on the internet. So it's a different situation like another hot wallet such as blockchain.com, coibase wallet, or exchange wallet where if we want to use it we must connect to the internet.

[OcTradism]

Hot or Cold wallets are depend on people's opinions. For me, because Electrum wallet I often do use it offline, (where I can create and sign transactions offline), I assume that Electrum wallet is a kind of cold wallet, such as a hardware wallet. You can use Electrum wallet also on air gaped devices where never connected on the internet. So it's a different situation like another hot wallet such as blockchain.com, coibase wallet, or exchange wallet where if we want to use it we must connect to the internet.

Hot and cold wallets must be set up manually by a user so security of a wallet depends on how a person sets it up and uses it later.

Cold wallets are safer than hot wallets but with two different practices, good and bad, results from using a hot and a cold wallet will be different too.

Basic rule is don't store your main capital in a hot wallet that is more vulnerable to hack than a cold wallet.

Electrum wallet can be used as a hot or a cold storage wallet, depends on how you set it up. It can be used on computer and mobile devices, very convenient. You can set up a multisig hot wallet with Electrum.

Creating a cold storage wallet in Electrum
Creating a multisig wallet

[aysg76]

I would say for safety purposes you should buy hardware wallet if you plan to secure your funds without even having mindset of selling the coins or trading purposes as well.If you can spend few amounts over them like Passport wallet would cost you around $200 but depends on the country as well so if you have more amount in bitcoin to store then definitely it's a good option with fully air gapped and being open source as well.

[leonair]

Hello guys with several wallets out there, I want to be sure make the right choice, because I have seen posts were members of this forum are complaining about some wallets and exchanges because of their unprofessional behavior.
So my question is, apart from electrum wallet which other wallet is the safest for long term holding of bitcoin?.

Any non-custodial wallet is good and safe for holding bitcoins. But if there is a very large amount like 0.5-1 BTC or more then it is best to use a hardware wallet. Hardware wallets always provide users with extra security compared to other wallets.  So it depends on how much money an investor will put into Bitcoin. Electrum, Coinbase, Trezor, Coinomi, Trustwallet. These wallets are not bad if you want to hold small amounts of bitcoins. But they are a bit risky when you go to hold large amount of bitcoins

[hosseinimr93]

Any non-custodial wallet is good and safe for holding bitcoins.

No. You should avoid close-source non-custodial wallets even for holding small amount of bitcoin.
For example, trustwallet is non-custodial and gives you access to your private keys. But it's close-source and there is no way to know how the keys are generated and whether the user is only one who has access to the keys or not.

[Dr.Bitcoin_Strange]

Since you want to hold your Bitcoin for a long time, I suggest you just buy a hardware wallet, which is the safest wallet to use and hold your Bitcoin for a long time. If you are going to be using an electrum wallet, then you will need to create an new wallet address on an AirGap device, just as CT has stated. Electrum is a very safe Bitcoin wallet and has been highly recommended by some members here. After generating your wallet on the Air Gap, it is better toonly keep the address in your watch but also make sure you are not logging in to the wallet on a device that you are always using to carry out some online stuff.

[Makus]

Thanks guys for the wonder replies, I have learnt a lot from your innovative advice, I'm indeed greatful.