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Author Topic: Is it safe to keep all your Bitcoins in one wallet?  (Read 3554 times)
JB0011 (OP)
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November 01, 2016, 01:26:22 PM
 #1

Is it safe to keep all your Bitcoins in one wallet in blockchain.info? I have 2FA activated but still.
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BassBoostOfficial
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November 01, 2016, 01:36:31 PM
 #2

Cold wallet? Why not?
Online wallet? Bad idea.
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November 01, 2016, 02:02:22 PM
 #3

Is it safe to keep all your Bitcoins in one wallet in blockchain.info? I have 2FA activated but still.

I'm keepin mine on blockchain.info without 2FA, and didn't have any issues at all, altho I'm keepin small amounts. If you have high amounts of btc, you'd be better off with a cold storage.

Need some spare btc for a new PC that can at least run Adobe Dreamweaver.

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November 01, 2016, 02:33:19 PM
 #4

Is it safe to keep all your Bitcoins in one wallet in blockchain.info? I have 2FA activated but still.
Thats very risky to keep online all your bitcoins.
Keep most in paper wallet for example.
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November 01, 2016, 03:02:51 PM
 #5

Is it safe to keep all your Bitcoins in one wallet in blockchain.info? I have 2FA activated but still.

Are asking about splitting them up on multiple wallets all on blockchain.info?

If so then yes, it is equally safe to keep them all in one blockchain.info wallet or in multiple blockchain.info wallets.

If someone hacks blockchain and takes the private keys for wallets then it does not matter if they are in multiple wallets or one. I guess maybe a small chance that they only get one of your wallets not both/all.  Tongue

If you are worried about the safety of you BTC, then get your own here: https://bitcoin.org/en/choose-your-wallet
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November 01, 2016, 03:09:44 PM
 #6

I heard that it is not safe to keep all the bitcoins at one online wallet.

Keep it in different wallets and I suggest cold wallets are better to keep.
Good luck.

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November 01, 2016, 03:50:29 PM
 #7

It is not as safe as keeping them in 2 wallets. Reason is you might lose your private key to one wallet, or it's possible it could get hacked in some sort of fashion. You just never know. Better to spread your funds through multiple Paper Wallets/Cold Storage. But not too many that it is a chore to keep up with.



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decentralizedcapital
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November 01, 2016, 07:08:32 PM
 #8

I would recommend against this. Online wallets are a lot more risky than cold storage, and putting all your eggs in one basket (aka one wallet) is never a good idea. That doesn't mean you should go crazy with tons of wallets, but spreading the risk is smart IMO. 2fa helps but is not foolproof. Are you using windows or another OS? IMO using windows makes it a lot less secure as there are so many ways for you to have malware on your computer.
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November 01, 2016, 07:29:40 PM
 #9

Here's a list of steps that you need to take:
1) Don't use Blockchain.info.
2) Do not use online wallets.
3) If you need a quick wallet, then use a SPV wallet such a Electrum, otherwise use a full implementation such as Bitcoin Core.
4) Read this to educate yourself on wallets and better options: [General] Bitcoin Wallets - Which, what, why?

It is not as safe as keeping them in 2 wallets.
If the wallet generation method is compromised, this does not offer you added security at all. The only way that this would truly give a benefit was if you used completely different storage methods (e.g. completely different software, machine and so on).

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November 01, 2016, 08:02:03 PM
 #10

Is it safe to keep all your Bitcoins in one wallet in blockchain.info? I have 2FA activated but still.
Use multisig. Keep offline.

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November 01, 2016, 08:35:22 PM
 #11

If you are asking if it's safe I am assuming you have a nice and considerable amount of bitcoin (at least I think it's considerable to you) and if that is the case the best option in where to store your bitcoins is without a doubt the hardware wallet.

There are a lot of them like Trezor, Ledger, Keepkey etc. You can google about them to read more in depth about them and why they are the best option so far for storing bitcoins.
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November 01, 2016, 08:42:17 PM
 #12

No. Maybe a cold wallet would be safe but it's still risky. Split your savings into different wallets like me. I have over 20 of them and it feels much more safe.
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November 01, 2016, 08:43:54 PM
 #13


There are a lot of them like Trezor, Ledger, Keepkey etc. You can google about them to read more in depth about them and why they are the best option so far for storing bitcoins.

This cannot be stated enough. A proper hardware wallet that stores you coins offline is well worth the money. Trezors are one of the best investments you can make.
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November 01, 2016, 09:15:04 PM
 #14

No, it's not safe. But it's very boring to have money splitted everywhere. Some money on each wallet... I think the technology should give us more advantages on that way, but the virtual world is very unsafe yet.

If you fear to lose your money, you can can divide your money into different wallets and write all the informations about how much you have on each wallet, links, passwords, etc... So you won't forget about anything. It's just a possibilite...

 
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November 01, 2016, 11:11:19 PM
 #15

If you store your bitcoin correctly, it does not matter if they are in one wallet or separate wallets - they are all equally safe. If you store them separately, but incorrectly, you can assume that if one wallet can be compromised, others can as well.

However you may want to use separate wallets if you want to have separate identities online - so if someone looks at your transactions it is not immediately obvious that they've come from the same user.
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November 01, 2016, 11:20:46 PM
 #16

Is it safe to keep all your Bitcoins in one wallet in blockchain.info? I have 2FA activated but still.

Yes, when you store all your coins on a trusted wallet, your coins will be safe for sure. But you stored all your coins on blockchain... I don't know if it's really safe. You should use a cold wallet. Store your coins on a computer without internet connection and without virus and you will be fine, ok?
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November 01, 2016, 11:41:00 PM
 #17

I am showing up a little late to this thread but a thought is jumping out at me so I decided to post it.

Lets say your online wallet has a super long password and you have perfect 2FA setup on that online wallet.  So great, you go to bed thinking all is well and then you get up and find out the site has been shut down.  Its happened numerous times with major hacks.  Just because YOUR wallet is configured safely, the controlling "host" site can get robbed due to bad protocol.  Now you don't have a site to log into.  I don't want to scare you, just state the obvious.  I can see you are thinking long term so plan accordingly.  Any online site today may not be around in 5 or 10 years.  Take a long term outlook when you discuss storage.

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November 01, 2016, 11:45:30 PM
 #18

This is part of what I was getting at earlier:

If someone hacks blockchain.info and takes the private keys for wallets then it does not matter if they are in multiple wallets or one. I guess maybe a small chance that they only get one of your wallets not both/all.  Tongue

I was just pointing out the hacking scenario, not the site shutting down scenario. But the same thing applies.
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November 02, 2016, 12:00:46 AM
 #19

Yeah, blockchain.info is safe online wallet and operating for many years. But if you're confident at any online wallet then try paper or cold storage. I recommended it for big amounts of coins. Im using online wallet and so far so good and doesnt steal my btc.
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November 02, 2016, 07:09:49 AM
 #20

If it's big money you should keep it on different addresses.
Not easy to lose it but better to diversifie risk.
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