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Author Topic: Whats the safest way to store bitcoin at the moment- situation...?  (Read 583 times)
Mikcik
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September 20, 2016, 08:27:15 AM
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Hello, i have a little of bitcoin. I wanna store it safely, BUT at least with some kind of "comfort".
I have BTC as "investment" i do not intend to spent it anywhere in the near or far future (no buying tickets, coffee with it etc), just to have it to ready to dump (or partial dump) on exchange when i feel the price will be getting down and then buy them back. Lets say this will happen (selling and rebuying at lower price) maximally 4 times a year (if it is a "calm" year).
Othen than that i do not need it.

Few years back the safest way was probably paper wallet, but i read its difficult to "manage". I understand PC and so on, but im not really skilled in manipulating with BTC (although i do have some theoretical understanding of how it works, etc. (i studied economics partially on college etc.). Also paper wallets was not se easy for withdrawing from AFAIK (just the whole ammount at once- not really suitable for partial dumping on exchanges), also you could sent the whole BTC as fees by accident etc.

So for my "specific needs", what would you recommend me past middle of 2016?

Still paper wallets? (did they get more user friendly etc.?)
or HW wallets like trezor (is it safe? what if it breaks down (physically or malfunctions?)
or is there some other possibility? (To store BTC highly securely but with almost immidiate acces (sending/receiving?)

Thank you
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September 20, 2016, 08:44:53 AM
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 you can store your bits in electrum wallet for ease of use. it is believed to be a very secured type of wallet. you can also keep your bits in hardware wallet and keep it at a safe place so that it wont break. but personally, i think that some hardware wallets are expensive, so if your computer is free from malwares then you can store your bits in electrum wallet without any fear of loosing your coins unless you dont download any virus in your pc in the future. just my 2 cents!
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September 20, 2016, 08:48:14 AM
 #3

Even if you don't have high amount of coins, its always good to save them in multiple wallets, so even if you find any issue with one wallet, your coins in other wallets will be safe.
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September 20, 2016, 08:54:51 AM
 #4

Hello, i have a little of bitcoin. I wanna store it safely, BUT at least with some kind of "comfort".
I have BTC as "investment" i do not intend to spent it anywhere in the near or far future (no buying tickets, coffee with it etc), just to have it to ready to dump (or partial dump) on exchange when i feel the price will be getting down and then buy them back. Lets say this will happen (selling and rebuying at lower price) maximally 4 times a year (if it is a "calm" year).
Othen than that i do not need it.

Few years back the safest way was probably paper wallet, but i read its difficult to "manage". I understand PC and so on, but im not really skilled in manipulating with BTC (although i do have some theoretical understanding of how it works, etc. (i studied economics partially on college etc.). Also paper wallets was not se easy for withdrawing from AFAIK (just the whole ammount at once- not really suitable for partial dumping on exchanges), also you could sent the whole BTC as fees by accident etc.

So for my "specific needs", what would you recommend me past middle of 2016?

Still paper wallets? (did they get more user friendly etc.?)
or HW wallets like trezor (is it safe? what if it breaks down (physically or malfunctions?)
or is there some other possibility? (To store BTC highly securely but with almost immidiate acces (sending/receiving?)

Thank you
Just using an offline wallet and generating your private key... and I doubt for making a recommendation about the another wallet, except HW wallet if you are always careful with your HW wallet.

https://bitcointalk.org/index.php?topic=1621903.0

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September 20, 2016, 09:16:11 AM
 #5

Hello, i have a little of bitcoin. I wanna store it safely, BUT at least with some kind of "comfort".
I have BTC as "investment" i do not intend to spent it anywhere in the near or far future (no buying tickets, coffee with it etc), just to have it to ready to dump (or partial dump) on exchange when i feel the price will be getting down and then buy them back. Lets say this will happen (selling and rebuying at lower price) maximally 4 times a year (if it is a "calm" year).
Othen than that i do not need it.
paper wallet or hardware wallet are suitable for you

Few years back the safest way was probably paper wallet, but i read its difficult to "manage". I understand PC and so on, but im not really skilled in manipulating with BTC (although i do have some theoretical understanding of how it works, etc. (i studied economics partially on college etc.). Also paper wallets was not se easy for withdrawing from AFAIK (just the whole ammount at once- not really suitable for partial dumping on exchanges), also you could sent the whole BTC as fees by accident etc.
paper wallet is easy for withdrawing, as long as your keep the private key is safe.

Still paper wallets? (did they get more user friendly etc.?)
Print paper wallet and make it as a tatto, you will never lose it, Just kidding.
print the paper wallet and upload it and turned it to the pdf version and then password it used RAR after that back up them and keep them safe, just my suggestion

or HW wallets like trezor (is it safe? what if it breaks down (physically or malfunctions?)
the biggest advantage of this kind of wallet as long as you have the seed even if you loses the wallet or crashed it you can get your wallet back.

or is there some other possibility? (To store BTC highly securely but with almost immidiate acces (sending/receiving?)
The only other really safe way to store your bitcoin is to get your private keys offline that's it.
Or you might check this link https://bitcoin.org/en/choose-your-wallet
goodluck

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AGD
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September 20, 2016, 09:25:30 AM
 #6

Encrypted Offline Wallet with Bitcoin Core

My ignore list here: https://bitcointalk.org/index.php?topic=1652334.0 +++ GPG Public key FFBD756C24B54962E6A772EA1C680D74DB714D40 +++ http://pgp.mit.edu/pks/lookup?op=get&search=0x1C680D74DB714D40
jack1111
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September 20, 2016, 09:29:55 AM
 #7

I am searching for such thread from long time , I want to know your opinions guys about the best and safest way to save Bitcoin , I use Blockchain wallet since I have joined Bitcoin world , but I am afraid of hacking opertations , I do not have knowledge about hardware wallets or other things , so I will keep my eyes on this thread.

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September 20, 2016, 09:36:54 AM
 #8

https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet

My ignore list here: https://bitcointalk.org/index.php?topic=1652334.0 +++ GPG Public key FFBD756C24B54962E6A772EA1C680D74DB714D40 +++ http://pgp.mit.edu/pks/lookup?op=get&search=0x1C680D74DB714D40
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