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Author Topic: How and where do I store my bitcoins?  (Read 6556 times)
metalbean (OP)
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November 12, 2016, 11:54:17 PM
 #1

I have less than 10  in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?
JeffBrad12
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November 13, 2016, 03:00:51 AM
 #2

Offline wallet, hardware wallet? the both are such useful wallet in this time, more safely for you. Even if you keep your PC with an offline status no one will reach your desktop using the viruses or malware except you connect it for online status. 

Both are useful for the people are passive traders.

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November 13, 2016, 03:13:25 AM
 #3

Yeah, you should definitely be considering a secure wallet. I suggest a hardware wallet like Trezor. It's more safe and it lowers the chance of being hacked by something like a key-logger.

Hi!
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November 13, 2016, 03:56:25 AM
 #4

Offline wallet like bitcoincore and multibit will be the best choice for you to store your coins. Or you can use hardware wallet Ledger or Trezor. I have tried Ledger wallet sometime ago and it was good, too bad I lost it but luckily I had not stored all of my coins on the ledger.
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November 13, 2016, 03:59:39 AM
 #5

Use Electrum wallet for as your hot wallet that you can use to pay for your daily expenses. I would suggest purchasing raspberry pi and use Electrum offline from there with your desktop wallet being the wallet that broadcasts and make raw unsigned transactions.

It would save you a lot more money than purchasing hardware wallets and it can be secure enough.

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November 13, 2016, 05:37:12 AM
 #6

I have less than 10  in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?
Yes Bro You can Store Your Bitcoins in a Secure Wallet I Want to Suggest you to Store Your Wallet in a Offline Wallet or You can Use Cold Storage For Storing Your Funds....

audaciousbeing
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November 13, 2016, 05:44:03 AM
 #7

Use Electrum wallet for as your hot wallet that you can use to pay for your daily expenses. I would suggest purchasing raspberry pi and use Electrum offline from there with your desktop wallet being the wallet that broadcasts and make raw unsigned transactions.

It would save you a lot more money than purchasing hardware wallets and it can be secure enough.

Thanks for this because the Etherum wallet I have, I thought its only for ETH or maybe I'm mistaken and the only one I have is the online wallet which I have learnt I dont have the private key to but still I have carried my transactions without any hitch but I'm equally scared of the attack that online wallets are exposed to.

Can you explain how to go about this?
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November 13, 2016, 05:54:39 AM
 #8

secured wallet is a must,try to buy some sort of hardware wallet such as trezor or ledger wallet.both will make your bitcoins secured as long you can keep it,and if i were you i would prefer to buy a secure hardware wallet to save up my bitcoins rather than end up suffering because losing

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November 13, 2016, 06:04:57 AM
 #9

Use Electrum wallet for as your hot wallet that you can use to pay for your daily expenses. I would suggest purchasing raspberry pi and use Electrum offline from there with your desktop wallet being the wallet that broadcasts and make raw unsigned transactions.

It would save you a lot more money than purchasing hardware wallets and it can be secure enough.

Thanks for this because the Etherum wallet I have, I thought its only for ETH or maybe I'm mistaken and the only one I have is the online wallet which I have learnt I dont have the private key to but still I have carried my transactions without any hitch but I'm equally scared of the attack that online wallets are exposed to.

Can you explain how to go about this?
Etherum wallet and Electrum wallet are two different things. Electrum wallet is used specifically for Bitcoin while Etherum is used for Etherum only.

Even if you do have the private key on an online wallet, you are still at risk since the other party still have access to your private key. Download Electrum and install it, create a wallet, copy down the seed and send all the funds from your online wallet to Electrum and you should be fine.

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November 13, 2016, 08:22:41 AM
 #10

I have less than 10  in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?
15+ bitcoin is really high amount and you shouldn't trust any web wallet with that high amount of bitcoin. You better try using hardware wallet like trezor or you can print out several paper wallet and store those paper wallet securely. If you don't actively use bitcoin or send bitcoin than for receiving only paper wallet is nice but as amount is very high i recommend hardware wallet. But you should read how to store safely in hardware wallet and how to recover your bitcoin if you lost access to those wallets before putting anything in them.
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November 13, 2016, 08:47:43 AM
 #11

I have less than 10  in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Definitely take your money out, and store it in a paper wallet. If you want to leave it on such sites for quick access leave only 1 btc. The past is a clear example that such saving accounts don't always go as planned. A lot of people have lost money during hacks in the past, by letting all their savings stay on exchange sites.
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November 13, 2016, 09:00:25 AM
 #12

I have less than 10  in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

if you only buy bitcoin not trading
is good your bitcoin in saving to online wallet or dekstop wallet but not exchanger wallet
in dekstop wallet you can seve in bitcore, electrum or multibit
in online wallet you can use blockchain.info
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November 13, 2016, 09:06:23 AM
 #13

I have less than 10  in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

In our country the COINS.PH wallet, if you convert peso money to bitcoin in that online wallet and store it in long time that value of your money will increase too so its like an investment, that's why I prefer to restore my fiat money to bitcoin and claim it when the value of bitcoin increases.
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November 13, 2016, 09:19:08 AM
 #14

Use Electrum wallet for as your hot wallet that you can use to pay for your daily expenses. I would suggest purchasing raspberry pi and use Electrum offline from there with your desktop wallet being the wallet that broadcasts and make raw unsigned transactions.

It would save you a lot more money than purchasing hardware wallets and it can be secure enough.

Thanks for this because the Etherum wallet I have, I thought its only for ETH or maybe I'm mistaken and the only one I have is the online wallet which I have learnt I dont have the private key to but still I have carried my transactions without any hitch but I'm equally scared of the attack that online wallets are exposed to.

Can you explain how to go about this?
Well if you are looking for ethereum wallet, you can use jaxx.io it is support for bitcoin and other altcoins are like, ETH, ETC, DASH, DAO ,LTC,  augur and you can use it on PC or smartphone Android. I have used it more than 6 months ago everything was fine, there were no problem. I think you can try it too.
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November 13, 2016, 12:41:31 PM
 #15

I have less than 10  in localbitcoins

That's over $6000 that you're trusting

a - to some website that really you know nothing about. A giant security hole could be found any moment.

b - your own security measures. Even if LBC is bulletproof, how sure can you be that you yourself won't be infiltrated from your end?

Effectively anything is better than your current setup. I use paper wallets myself. There are lots of hardware options too.

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November 13, 2016, 10:41:26 PM
 #16

i think offline wallet is a good choice since you don't make trading or spend the bitcoin. you can choose many offline bitcoin wallet. i am experience with multibit in the past to store my bitcoin and i don't have any problem at all. or maybe you can try with trezor, mycelium for your android phone, flashdisk bitcoin wallet.

and i suggest to you to split your 10 bitcoin into 2-4 place just in case if something bad happen and you still hold your bitcoin and its not good to store in just one wallet.

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November 13, 2016, 11:39:35 PM
 #17

The best and safe place to save your bitcoins is in offline wallet as your coins will stay safe there and no one can hack your wallet and its more safe in compare to online wallet where scammers may try to hack your wallet and I am using electrum wallet since long time and have not found any issue with its security.
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November 14, 2016, 12:00:44 AM
 #18

I think the best method to secure and store your bitcoins is the offline wallet, or using the Blockchain wallet. Both are secured enough so you haven't to worry about safety issues.
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November 14, 2016, 12:38:11 AM
 #19

I think the best method to secure and store your bitcoins is the offline wallet, or using the Blockchain wallet. Both are secured enough so you haven't to worry about safety issues.
I don't think so, You had heard about the bitfinex cases in the past? We could have thought again for suggesting someone using the blockchain wallet.

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November 14, 2016, 04:40:45 AM
 #20

since that is already a lot of money that you have invested in bitcoin i suggest a Hardware wallet. you can find some with less than $100 price and be safe because of how they work.

but if you are not willing to pay for a wallet and buy it, you can look into "cold storage" and since you said you are not actively trading then, a paper wallet may be what you need. but make sure to learn how to make them safely first before sending your bitcoins there.

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