richardsNY
Legendary
Offline
Activity: 1232
Merit: 1091
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May 01, 2017, 09:25:04 PM |
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I do not store them at single place and prefer to store them at multiple places and multiple wallets, at a moment I have divided my bitcoins online wallet, offline wallet, some of them are on exchange sites too.
It depends on how you use Bitcoin. If we're purely talking about coins that are bought as long term investment, then offline storage is the only way to go. If you are using Bitcoin regularly for spending purposes, then making use of an online wallet will enhance the usability aspect. I often see people refer to their physical fiat wallet when it comes to keeping coins in online wallet services, and I agree with that -- never keep more coins online than you have in your physical fiat wallet.
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squatz1
Legendary
Offline
Activity: 1666
Merit: 1285
Flying Hellfish is a Commie
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May 02, 2017, 01:20:34 AM |
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Online Web wallet through BitGo, I know tons of people are going to say that it isnt safe in the least and that if you don't own the keys then you don't own the keys. But I do have the private keys with BitGo you get half of them and you're able to get the other half. They don't know any portion of your private keys so wouldn't be able to steal your coins even if they wanted to. I do not store them at single place and prefer to store them at multiple places and multiple wallets, at a moment I have divided my bitcoins online wallet, offline wallet, some of them are on exchange sites too.
Though I will ask ya, do you have a single wallet which you use all the time or do you have to go around through all the wallets to make a transcation if needed? I just like the ease of using a web wallet and I THINK BitGo is pretty secure when it comes down to it.
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Lecam
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May 02, 2017, 01:30:26 AM |
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Store them away where only you have access to them. Some address where you have access to the public and private keys. That's most important. Don't let any other entity other than you have access to the private key.
Thats right, store it where you are the only one who have the access on it. Save the private key, or put 2fa to fully secured your account. Use another wallet if doing transaction with others, it can help you to prevent from hacking and other matters. Dont let anyone know the full amount of money you stored in your account, it can attract them if they know you have that amount of money, just keep it to yourself.
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tleilaxu_eyes
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May 02, 2017, 02:25:40 AM |
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Cold storage is the best option for long term, clearly. Mt gox has left a scar on the community and it won't go away for a long time. Even the currently most reputable exchanges I don't fully trust, they just have too short of a track record, operate in other countries, or have questionable support (ahem, cryptsy).
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Look into the eyes.
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genos
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May 02, 2017, 02:43:44 AM Last edit: May 02, 2017, 02:55:05 AM by genos |
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Store them away where only you have access to them. Some address where you have access to the public and private keys. That's most important. Don't let any other entity other than you have access to the private key.
I think it is no problem if we let our family such as wife or father to know about the private keys, becouse it prevent bitcoin from decrease's number of usable bitcoin's, So somebody can inherit our bitcoin if we are die. But if we have more than 10 btc, we better save it in hardware wallet, because it will reduce the risk of being hacked .
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VenceyBit
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May 02, 2017, 03:45:18 AM |
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I use crypto wallet that is open source and you own your own private keys that can import and access to different open source wallet like jaxx.io, exodus.io, mycelium, blockchain Or maybee a Hardware wallets like, Trezor, Keepkey, Ledger. I also store some in multiple exchanges.
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Duzter
Sr. Member
Offline
Activity: 1092
Merit: 256
Leading Crypto Sports Betting & Casino Platform
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May 02, 2017, 04:15:29 AM |
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Blockchain wallet is the one that's been used from the days I start using bitcoin. Recently made an wallet other than blockchain. Encountered a big transaction fee with that, because with blockchain we have the manual transaction fee for which blockchain is always the best.
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arransiv
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May 02, 2017, 04:39:33 AM |
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In an online wallet just because I operate with BTC quite a lot,otherwise I would have used a paper wallet.Online wallets are great but just remember to have it secured really well and also one more thing-don't store your BTC at an exchange-I know it may be really easy for you to do it but there's always a risk for something to happen so it's better to be prepared rather than later saying this or that happened
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gandame
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May 02, 2017, 05:45:24 AM |
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I stored them in electrum wallet, i search that electrum is one of the safest wallet its an offline wallet that we can stored our bitcoin. I start using it 4 months ago and the fee is not so high like blockchain wallet.
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ViceOfBTC21
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May 02, 2017, 06:39:06 AM |
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In beginning of my Bitcoin usage, I was storing all of them on Blockchain.info. One year later, I started to send from Blockchain.info to my Electrum wallet. Now I use Electrum on laptop (max .3 BTC), Bitcoin Unlimited on Raspberry Pi (using it mainly as node), Mycelium on phone and tablet (.05 BTC max) and paper wallet for significant amount of BTC. I still use Blockchain.info for storing little BTC.
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Carlsen
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May 02, 2017, 06:47:16 AM |
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I use blockchain wallets in most cases. But there are many other online wallets as well I have already used. I have to say that the amount of coins I own is not very high, but still, I have split it up into several wallets, just to be on the safe side. When I decide to make a larger investment into btc, I think I will switch to a paper wallet.
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voltesbit777
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May 02, 2017, 07:59:14 AM |
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Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
What I do now was I stored my bitcoin at electrum wallet, and bitcoin core, and multibit hd. You can also use exchange wallets, just don't deposit big or huge amount of bitcoin balance.
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DoublerHunter
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May 02, 2017, 10:00:01 AM |
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Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
What I do now was I stored my bitcoin at electrum wallet, and bitcoin core, and multibit hd. You can also use exchange wallets, just don't deposit big or huge amount of bitcoin balance. Yeah don't deposit big or huge amount of bitcoins in exchange wallet because you can't control your bitcoin there and you don't have your private keys because they are holding it. It is best for you to just use hardware wallets so you have protection for the possible hacks, viruses or malwares because hardware wallet like trezor will secure your bitcoin to its best.
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BeManga
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May 02, 2017, 10:38:53 AM |
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Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
i use blockchain some exchange and some online wallet if you will use some exchange and online wallet just dont put everything in the same place
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spngebob
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May 02, 2017, 11:01:15 AM |
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I think one of the best way to store bitcoins is paper wallet. Anyway, i am using online wallets but to be honest i am little scared using them.
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Prohodimec
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May 02, 2017, 11:23:01 AM |
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I think one of the best way to store bitcoins is paper wallet. Anyway, i am using online wallets but to be honest i am little scared using them.
I, too, do not really trust Internet purses because of the possibility of hacking them, but it is very convenient for making payments.
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coinbitte
Member
Offline
Activity: 90
Merit: 10
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May 02, 2017, 12:45:47 PM |
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I am going to store them on a smart phone and keep the phone offline.
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SingAlong
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May 02, 2017, 02:17:25 PM |
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Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
I've stored my Bitcoin online and there is a leading Bitcoin onlime wallet in our country which everyone been using it and we can easily can easily convert it to fiat and claim it to some banks or convenient stores. In that way, I have Bitcoin materialize and save it im its concrete form.
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Beparanf
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May 02, 2017, 02:43:20 PM |
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Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
I've stored my Bitcoin online and there is a leading Bitcoin onlime wallet in our country which everyone been using it and we can easily can easily convert it to fiat and claim it to some banks or convenient stores. In that way, I have Bitcoin materialize and save it im its concrete form. Seems like I also knew that wallet,it does really help in making transactions confirmed and reliable in cashing out. To be able to store our bitcoin we must first find a wallet that will felt us safe and secured.
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Ekanenf
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May 02, 2017, 02:52:36 PM |
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In beginning of my Bitcoin usage, I was storing all of them on Blockchain.info. One year later, I started to send from Blockchain.info to my Electrum wallet. Now I use Electrum on laptop (max .3 BTC), Bitcoin Unlimited on Raspberry Pi (using it mainly as node), Mycelium on phone and tablet (.05 BTC max) and paper wallet for significant amount of BTC. I still use Blockchain.info for storing little BTC.
I'm also using electrum, because it is much safer compare to the online wallets, which could turn to scam anytime, and is very prone to hackers, unlike the Electrum wallet, it could be use both, online or offline. The only time that you would use it online is when you are going to send bitcoin to another wallet, and after that, it is offline again. You just have to remember your wallet seed and your pin code, for you to be able to transfer and receive funds, because if you are going to forget it, then you are doomed.
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