How should I secure my bitcoins?

[ibrahim11]

Hi, I currently have 1200-1400USD worth of bitcoins (at current rate). Should I buy the ledger wallet or use coinbase vault. Can't coins stored in the vault be stolen by hackers? A trezor is too much for me atm. I spent most my money on the btc and need the rest for spare/contingency money

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[1715642691]

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[Parazyd]

Move all your funds to a paper wallet.
You can use a tool like vanitygen to generate your new address and private key safely.

Remember to encrypt your private key as well. You can use BIP38 for easy encryption. Or something else you prefer for encryption.

[ibrahim11]

Move all your funds to a paper wallet.
You can use a tool like vanitygen to generate your new address and private key safely.

Remember to encrypt your private key as well. You can use BIP38 for easy encryption. Or something else you prefer for encryption.

Can I encrypt my private key with the ledger wallet?

[Parazyd]

To be secure you should generate a new address and private key with vanitygen. Afterwards you can use a gpg key, or anything that comes to your mind. Here's a python scirpt used for BIP38 encryption: https://github.com/nomorecoin/python-bip38-testing

[ibrahim11]

To be secure you should generate a new address and private key with vanitygen. Afterwards you can use a gpg key, or anything that comes to your mind. Here's a python scirpt used for BIP38 encryption: https://github.com/nomorecoin/python-bip38-testing

I really want to buy a ledger wallet though. The HW.1 is only 18 euros

Aren't they good?

[Parazyd]

I've no experience with those. You should wait for another member to tell you about those.

[xmaxbit]

Encrypt your private key , this is all you need to do .

[bitlancr]

Buy a pc or laptop or reformat a pc. Install only bitcoins and antivirus. Send your bitcoin to this computer bitcoin wallet. Connect only to internet when you send. Use this pc or laptop for bitcoin only and never use any usb to this pc or laptop.

[Spoetnik]

I've used the MultiBit wallet then copied my .dat to a USB drive.
I am not too worried about it..

[ZonedOutSpace]

I store my private keys in a encrypted text file on a USB.
https://www.aescrypt.com/windows_aes_crypt.html

[Sturgeon]

Hi, I currently have 1200-1400USD worth of bitcoins (at current rate). Should I buy the ledger wallet or use coinbase vault. Can't coins stored in the vault be stolen by hackers? A trezor is too much for me atm. I spent most my money on the btc and need the rest for spare/contingency money

hacker can't stolen from vault
i prefered you to use xapo vault or you can use coinbase vault, i use it too, you can add phone verification (don't use authy or google athenticator)

or you can save at paperwallet

[lite]

To be secure you should generate a new address and private key with vanitygen. Afterwards you can use a gpg key, or anything that comes to your mind. Here's a python scirpt used for BIP38 encryption: https://github.com/nomorecoin/python-bip38-testing

I really want to buy a ledger wallet though. The HW.1 is only 18 euros

Aren't they good?

If you don't have budget to buy trezor then you should go for HW.1 it's cheap but it's good enough to secure your bitcoins.

[Hazir]

You don't need any hardware wallet to be secure. You don't want to waste money on them. To be truly safe just use desktop wallet - Armory is your safest bet if you are concerned about security.
Keep your private key on offline machine or removable drives or disks and you will be safe.

[ranochigo]

To be secure you should generate a new address and private key with vanitygen. Afterwards you can use a gpg key, or anything that comes to your mind. Here's a python scirpt used for BIP38 encryption: https://github.com/nomorecoin/python-bip38-testing

You can generate addresses with vanity gen but that is quite redundant. Download bitaddress.org to an offline computer and you can use it there. More entropys can be added by the mouse movements and hence is secure. Also, the paper wallets is IMO, quite fancy and you can use BIP38 on it too.

Hi, I currently have 1200-1400USD worth of bitcoins (at current rate). Should I buy the ledger wallet or use coinbase vault. Can't coins stored in the vault be stolen by hackers? A trezor is too much for me atm. I spent most my money on the btc and need the rest for spare/contingency money

hacker can't stolen from vault
i prefered you to use xapo vault or you can use coinbase vault, i use it too, you can add phone verification (don't use authy or google athenticator)

or you can save at paperwallet

Technically, they can be stolen. The Bitcoins are all stored in a cold storage wallet, still having a slight possibility of getting hacked and the user will not have any access to it. It is insured however.

[Sturgeon]

To be secure you should generate a new address and private key with vanitygen. Afterwards you can use a gpg key, or anything that comes to your mind. Here's a python scirpt used for BIP38 encryption: https://github.com/nomorecoin/python-bip38-testing

You can generate addresses with vanity gen but that is quite redundant. Download bitaddress.org to an offline computer and you can use it there. More entropys can be added by the mouse movements and hence is secure. Also, the paper wallets is IMO, quite fancy and you can use BIP38 on it too.

Hi, I currently have 1200-1400USD worth of bitcoins (at current rate). Should I buy the ledger wallet or use coinbase vault. Can't coins stored in the vault be stolen by hackers? A trezor is too much for me atm. I spent most my money on the btc and need the rest for spare/contingency money

hacker can't stolen from vault
i prefered you to use xapo vault or you can use coinbase vault, i use it too, you can add phone verification (don't use authy or google athenticator)

or you can save at paperwallet

Technically, they can be stolen. The Bitcoins are all stored in a cold storage wallet, still having a slight possibility of getting hacked and the user will not have any access to it. It is insured however.

but vault is better than normal wallet for holding bitcoin,
if your email address stolen and your password also stolen vault can't release after 2days, so you can ceck your wallet everyday to sure your balance

[ranochigo]

To be secure you should generate a new address and private key with vanitygen. Afterwards you can use a gpg key, or anything that comes to your mind. Here's a python scirpt used for BIP38 encryption: https://github.com/nomorecoin/python-bip38-testing

You can generate addresses with vanity gen but that is quite redundant. Download bitaddress.org to an offline computer and you can use it there. More entropys can be added by the mouse movements and hence is secure. Also, the paper wallets is IMO, quite fancy and you can use BIP38 on it too.

Hi, I currently have 1200-1400USD worth of bitcoins (at current rate). Should I buy the ledger wallet or use coinbase vault. Can't coins stored in the vault be stolen by hackers? A trezor is too much for me atm. I spent most my money on the btc and need the rest for spare/contingency money

hacker can't stolen from vault
i prefered you to use xapo vault or you can use coinbase vault, i use it too, you can add phone verification (don't use authy or google athenticator)

or you can save at paperwallet

Technically, they can be stolen. The Bitcoins are all stored in a cold storage wallet, still having a slight possibility of getting hacked and the user will not have any access to it. It is insured however.

but vault is better than normal wallet for holding bitcoin,
if your email address stolen and your password also stolen vault can't release after 2days, so you can ceck your wallet everyday to sure your balance

What if you're on a vacation and have no internet access? Or what if you need it urgently?

That's not my point. Vaults are not controlled by you, they are controlled by whatever service you use. By storing it, you are giving them full control over it. If you violate their terms and conditions, they have the rights to confiscate it. Paper wallets or hardware wallets gives the user full control while having high security.

[Decoded]

If someone hacks into Coinbase, they could steal alot more than 2 thousand dollars. xD

I'd say if you trust yourself:

- Cold Wallet
- Paper Wallet

If you don't trust yourself:

- Bank Vault
- Get a trusted person to hold and keep your Bitcoins safe.

[maku]

If someone hacks into Coinbase, they could steal alot more than 2 thousand dollars. xD

I'd say if you trust yourself:

- Cold Wallet
- Paper Wallet

If you don't trust yourself:

- Bank Vault
- Get a trusted person to hold and keep your Bitcoins safe.

If you don't trust yourself then it means bitcoin is not for you in the first place. Bitcoin is created for people who can mange their own money and are not afraid of it.
You better stick to the FIAT and banks if you have trust issues.

[kwaasteniet]

Use an old laptop that is normally not connected to the internet. and place linux on it and save there your bitcoins on a lightweight wallet like Multibit and make a backup on a USBstick.

[omahapoker]

I really want to buy a ledger wallet though. The HW.1 is only 18 euros

Aren't they good?

Yeah I own a ledger wallet, and its enough for me. I didnt pair it with my smartphone though, I just use the card.
For its price it does its job good.

Alternative but more expensive, Trezor!