BitGo, Coinbase Vaut or Paper Wallet for secure long term storage

[PilotofBTC]

I think I've gotten to the point where I have enough bitcoin that I don't want to keep it all in mycelium anymore.

So, paper wallet created on air gapped computer seems to be the most secure. But it has downsides like hard to spend if needed, could be lost, could get destroyed (sure keep several copies).

Coinbase Vault means I have to trust coinbase since they keep the keys. Unless I use the "I keep keys" version and then it seems the same as BitGo to me. however, seems most convenient, I just need username/password/2FA device.

BitGo sounds great but I still have to trust them a bit right. Also, are they still secure? Didn't bitfinex supposedly use them and still go hacked, or what that because bitfinex just didn't keep their keys/password secure enough?

I guess there's also Trezor, but that cost money and I guess could become damaged.

Thoughts, recommendations?

[danfoda]

localbitcoins with 2FA and you are good to go. But then again thats the same as coinbase etc...

[unamis76]

A third party service shouldn't even be considered, especially if you want to store funds for a long term. Remember: If you don't own the keys, you don't own Bitcoin. Of all those options only paper wallets should be considered.

There are also other options you might consider, such as Electrum, Armory or just good, plain, old Bitcoin Core. Try them all and see what suits you best.

[Cryptonitex]

Paper or hardware wallet seems the like the best choice.

[Kprawn]

Create a whole bunch of paper wallets on that Air gapped computer of yours and split your hoard into manageable quantities that would make spending it easier. When you need some bitcoins, just

sweep one of your mini paper wallets. I do not trust anyone else with my Bitcoin { my precious ...... } You can also keep some spending money on your hardware wallet {Trezor} for those times when

you need to shop. I have a 80-20 setup, where 80% of my coins are in cold storage {paper wallets} and 20% are used to oil the system. If everyone hoards 100% of their coins, merchants will stop

supporting Bitcoin payments, and we will have nowhere to spend it in the end. 

[OmegaStarScream]

If you don't control your private keys , you simply don't control anything. Take a moment and start googling about how much Bitcoins was stolen from users who kept their funds in exchanges and online wallets ... Millions of dollars !

I personally would go with a Paper wallet , but since you are planning to spend some , just send some amount that you think should suffice you in a Desktop wallet like Electrum.
Desktop wallets are pretty secure if you are not downloading any "Bitcoin-generator.exe" (If you know what I mean) .

See this as well (an expert speaking) : Antonopoulos: Your Keys, Your Bitcoin. Not Your Keys, Not Your Bitcoin

[BitcoinNewsMagazine]

Fuck paper wallets. Get a Trezor and no worries. Just store your 24 word seed securely.

[Lauda]

I'm not sure how:

But it has downsides like hard to spend if needed, could be lost, could get destroyed (sure keep several copies).

"hard to spend" is a concern for long term storage? It's not like you're going to be constantly accessing these coins. In any case, it primarily depends on the amount that you're storing and the frequency of access:

Get a Trezor and no worries.

There are several hardware wallets that wouldn't be a bad choice. In any case, they're usually better than 3rd party wallets.

[PilotofBTC]

I'm not sure how:

But it has downsides like hard to spend if needed, could be lost, could get destroyed (sure keep several copies).

"hard to spend" is a concern for long term storage? It's not like you're going to be constantly accessing these coins. In any case, it primarily depends on the amount that you're storing and the frequency of access:

Get a Trezor and no worries.

There are several hardware wallets that wouldn't be a bad choice. In any case, they're usually better than 3rd party wallets.

hard to spend is a minor concern. Either sweep the wallet, and create a new one, or as someone said, create many of them with smaller amounts. Of course, I probably won't be spending for 10 years or so... at some time I will start spending them right?

[European Central Bank]

I don't think bitgo have done anything recently to make me ever want to use them. coinbase vault? nah. anything could happen in the coming years to bitcoin businesses. I don't think many of them are gonna be around long term.

i'd stick with paper myself as long as I had somewhere I was comfortable storing it.

[oblivi]

Paper wallet with BIP38 encryption generated under a write-only OS like a Linux DVD with your internet disconnected, doesn't get any more secure.

[topiOleg]

So, paper wallet created on air gapped computer seems to be the most secure. But it has downsides like hard to spend if needed, could be lost, could get destroyed (sure keep several copies).

I guess there's also Trezor, but that cost money and I guess could become damaged.

You can laminate your paper wallets, this way it can last longer and only theft or a fire is a issue. The trezor comes with paper sheet where you write your 24 words seed to recover your trezor wallet anytime if your trezor become damaged or lost. If you have spare 1/8 BTC for the trezor, buy it. If not, laminated paper wallets is good option as well.

[BitcoinNewsMagazine]

So, paper wallet created on air gapped computer seems to be the most secure. But it has downsides like hard to spend if needed, could be lost, could get destroyed (sure keep several copies).

I guess there's also Trezor, but that cost money and I guess could become damaged.

You can laminate your paper wallets, this way it can last longer and only theft or a fire is a issue. The trezor comes with paper sheet where you write your 24 words seed to recover your trezor wallet anytime if your trezor become damaged or lost. If you have spare 1/8 BTC for the trezor, buy it. If not, laminated paper wallets is good option as well.

When you are creating a paper wallet, any malware on your computer can read the private keys. If you print out the paper wallet the attack surface is increased as your private key will be sent out over your network unencrypted. Even if you use an encrypted paper wallet you are still in danger from keyloggers. A hardware wallet is immune to these attacks.

[PilotofBTC]

So, paper wallet created on air gapped computer seems to be the most secure. But it has downsides like hard to spend if needed, could be lost, could get destroyed (sure keep several copies).

I guess there's also Trezor, but that cost money and I guess could become damaged.

You can laminate your paper wallets, this way it can last longer and only theft or a fire is a issue. The trezor comes with paper sheet where you write your 24 words seed to recover your trezor wallet anytime if your trezor become damaged or lost. If you have spare 1/8 BTC for the trezor, buy it. If not, laminated paper wallets is good option as well.

When you are creating a paper wallet, any malware on your computer can read the private keys. If you print out the paper wallet the attack surface is increased as your private key will be sent out over your network unencrypted. Even if you use an encrypted paper wallet you are still in danger from keyloggers. A hardware wallet is immune to these attacks.

That's why you use an air gapped computer.

[n691309]

From your list I don't find the best option because coinbase does not allow you to control the private key and your funds 100%, but the paper wallets seems the old and more secure one. I would suggest a hardware wallet like Trezor which does it job perfectly, it cost a little but it worth if you are looking to store bitcoin secure for a long term.

[topiOleg]

You can laminate your paper wallets, this way it can last longer and only theft or a fire is a issue. The trezor comes with paper sheet where you write your 24 words seed to recover your trezor wallet anytime if your trezor become damaged or lost. If you have spare 1/8 BTC for the trezor, buy it. If not, laminated paper wallets is good option as well.

When you are creating a paper wallet, any malware on your computer can read the private keys. If you print out the paper wallet the attack surface is increased as your private key will be sent out over your network unencrypted. Even if you use an encrypted paper wallet you are still in danger from keyloggers. A hardware wallet is immune to these attacks.

That's why you use an air gapped computer.

Thats right, actually if you use live CD linux distro + USB with the bitcoinaddress.org html file, remove the HDD and LAN cable, very cheap printer which cannot store the printed pages somewhere then you can even use and connect the computer to internet later (after your done, removed and never use the live CD and USB again and rebooted) as there is no place to store any information on. Actually information could be stored to Bios, but what are the odds for that from live CD linux distro? Plus you should first test the paper walets with smaller amounts if they are safe anyway.

[ASHLIUSZ]

From your list I don't find the best option because coinbase does not allow you to control the private key and your funds 100%, but the paper wallets seems the old and more secure one. I would suggest a hardware wallet like Trezor which does it job perfectly, it cost a little but it worth if you are looking to store bitcoin secure for a long term.

I am sure there are lots of people on here who store their Bitcoins using different methods. I really feel like going the paper wallet route is one of the more secure methods as paper wallets offer a flexible and useful way to store surplus funds.

[MyBTT]

If you have alot of bitcoin, yes you shouldn't use Mycelium. Buy a Ledger wallet (I'd recommend a Nano S) or a Trezor. I'm personally waiting for the Trezor 2, which should come out early next year.

[mobnepal]

Paper and hardware wallet are most secured in any scenario because private key never leave from your hand. Paper wallet is free as well as it can do what hardware wallet can do if you put those paper safely and generate those wallet in completely offline computer.

[DebitMe]

Storing funds for the long term should be done on your own offline created paper wallet.  Sure it is a hassle, but it is much more convenient to have those coins and be able to use them when needed than to get them stolen.