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Author Topic: How and where do I store my bitcoins?  (Read 6511 times)
Zadicar
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November 14, 2016, 07:46:52 AM
 #21

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?
Most members  here  are suggesting  the same thing  on which  the safest way to secure  your  bitcoins its  on either  offline wallet  /pc wallets  or  on  hardware wallets. I do  agree with their statements hence storing them on  exchange wallets are  risky because  we all know that   exchange could  possibly been hacked  and  those bitcoins stored  their  would  be surely gone thats why its better to  store  up on cold storages which you do have the  full possesion  just  dont forget  on where  you placed  it and  must keep all the   important  informations.

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November 14, 2016, 07:57:27 AM
 #22

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.

Ya i also recommend offline wallet for securing our btc especially if we have a large amount of btc.The risk for online wallet is high.I know they also trying hard to provide maximum security,but the chance for getting hack is still there.
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November 14, 2016, 12:11:38 PM
 #23

You can use coinbase,if you lodge in they will send you a message with the email you use to sign up for authorisation into you account since I have been using it I have no issue with them,I think it is safe
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November 14, 2016, 03:25:15 PM
 #24

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?

Don't rely on one wallet alone,put all your eggs in many basket,of course all this online wallet has good security measures,it is really up to you on how to secure your passwords and security question as much as possible use an authenticator or phone verification to secure your credentials.


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November 14, 2016, 03:28:52 PM
 #25

You can use coinbase,if you lodge in they will send you a message with the email you use to sign up for authorisation into you account since I have been using it I have no issue with them,I think it is safe

Holding your money in an online wallet is riskier than you might think. Just like banks, it takes only one real or faked attack of the Bitcoin online bank for your money to be gone. FOREVER. I have stored mine in dozens of cold wallets just to make sure I'm protected from thieves (because it's just a paper and they wouldn't know what that is probably) and online attacks. And hackers.. If one gets hacked, I lose only a very small part of the money.
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November 15, 2016, 05:17:56 PM
 #26

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?
No matter what wallet you choose, remember that your bitcoins are only safe if the private key was generated securely and remains a secret. Choose a storage method based on your needs and your wealth. There’s no reason to ever store a large amount of funds in a hot wallet.



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November 15, 2016, 05:45:54 PM
 #27

My advice is to never keep your coins in just one wallet. By choosing multiple wallets you can enhance your security. It doesn't matter how big or small amount of coins you have, you don't want to lose them. And it's good to have one hard wallet, cloud wallets are convenient but often very vulnerable. Wallet offer is very big, you can choose.

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November 15, 2016, 08:33:35 PM
 #28

I think there is not a full safe method to stote BTCs, so I don't hold a lot of coins on my wallet accounts. I use online wallets, despite I never had any problem with that kind of service (only high fees), I'm aware that it's not 100% safe, but in my opinion the another wallets aren't 100% safe too. So, I just prefer to withdraw my BTCs to local currency when I reach to a big amount, or I invest a part on a trusted site on the internet.

 
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November 15, 2016, 09:26:15 PM
 #29

If OP is not familiar with off-line wallets, he could use coinbase vault. It is really secure but you must give 2days (48 hrs) notice before making a withdrawal.

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November 15, 2016, 09:44:52 PM
 #30

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?

It is always recommended that dont keep your bitcoins in exchanges if you are not going to sell or do daily trading instead you can store them in desktop or hardware wallet, This wallet keys private key and all other records you will be holding it so if any thing problem is their you can be able to solve it. But if the exchange get any problem like hack or scam then you cannot do anything as you dont have control on that wallets
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November 16, 2016, 08:37:36 AM
 #31

Already Op have stored the bitcoin in one among the best wallet and trading service provider. But as he is not active into trading can prefer Blockchain wallet or other offline wallets. Also can try paper wallets if the bitcoin buying is a long term investment.
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November 16, 2016, 08:53:05 AM
 #32

Already Op have stored the bitcoin in one among the best wallet and trading service provider. But as he is not active into trading can prefer Blockchain wallet or other offline wallets. Also can try paper wallets if the bitcoin buying is a long term investment.

i think the wiser move is to store your bitcoin in an offline wallet, or hardware wallet.  Blockchain wallet is also a good way to store your bitcoin but nothing beats the one that you can access freely and can disconnect to the internet for more safety.  You can also use light wallet so that you don't need to download the whole blockchain. 

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November 16, 2016, 10:54:45 AM
 #33

Already Op have stored the bitcoin in one among the best wallet and trading service provider. But as he is not active into trading can prefer Blockchain wallet or other offline wallets. Also can try paper wallets if the bitcoin buying is a long term investment.

i think the wiser move is to store your bitcoin in an offline wallet, or hardware wallet.  Blockchain wallet is also a good way to store your bitcoin but nothing beats the one that you can access freely and can disconnect to the internet for more safety.  You can also use light wallet so that you don't need to download the whole blockchain. 

Offline wallet is the most secure wallet. If you put your bitcoin on an online wallet, even if it is in a  secured platform, it can still be prone to hack or phishing. But if it is offline, no one can hack it.
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November 16, 2016, 11:44:39 AM
 #34

Already Op have stored the bitcoin in one among the best wallet and trading service provider. But as he is not active into trading can prefer Blockchain wallet or other offline wallets. Also can try paper wallets if the bitcoin buying is a long term investment.

i think the wiser move is to store your bitcoin in an offline wallet, or hardware wallet.  Blockchain wallet is also a good way to store your bitcoin but nothing beats the one that you can access freely and can disconnect to the internet for more safety.  You can also use light wallet so that you don't need to download the whole blockchain. 

Offline wallet is the most secure wallet. If you put your bitcoin on an online wallet, even if it is in a  secured platform, it can still be prone to hack or phishing. But if it is offline, no one can hack it.
yeah no one can hack it if the hacker are doing it virtually and have no access to the hardware wallet in offline,but if the one who's trying to steal the wallet was also having an access to your hardware wallet then it's in dangerous,only way to prevent to be stolen is keeping it on the safe place and always setting up a hard predicted password and more authentication

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November 16, 2016, 01:22:46 PM
 #35

don't ever keep substantial amounts of money at the exchanges!
MT-gox and Bitstamp are just recent examples of this errant behaviour Smiley
it is time for you to consider bying a hardware wallet,it is easier to use than you would think and gives you  peace of mind
I cannot stress enough: do not store your money online,you re not in control of your funds and  if this service goes offline = you are screwed
make a habbit of withdrawing funds at the end of your trading session,do not keep them overnight at exchanges

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November 16, 2016, 04:03:00 PM
 #36

Saying online wallets are not safe but I guess many people have already done that.
Buy Trezor. It may cost you $99 but it is more secure. It's a Bitcoin Safe as it says.

Keeping your money safe is kinda tough these days.

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November 17, 2016, 02:27:45 AM
 #37

For storing bitcoins, don't put them on an online exchange. Use a paper wallet and store the public and private keys in a safe place like a safe deposit box or a fire safe.

 
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November 17, 2016, 05:40:58 AM
 #38

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?
No matter what wallet you choose, remember that your bitcoins are only safe if the private key was generated securely and remains a secret. Choose a storage method based on your needs and your wealth. There’s no reason to ever store a large amount of funds in a hot wallet.
yes that is a fact that the important thing is to choose a reliable and trusted wallet for storing bitcoin, and the second is that you should make your own policy for storing method according to your needs.
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November 17, 2016, 06:04:20 AM
 #39

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?

No matter the amount you should get a secure wallet. If you have a substantial amount of coins, use a cold wallet (just google how to). Having a secure wallet should be number one on the list of agendas of anyone using Bitcoins. Don't store a lot of your coins on websites or wallets where the admins has access to your coins.
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November 17, 2016, 07:38:10 AM
 #40

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?

No matter the amount you should get a secure wallet. If you have a substantial amount of coins, use a cold wallet (just google how to). Having a secure wallet should be number one on the list of agendas of anyone using Bitcoins. Don't store a lot of your coins on websites or wallets where the admins has access to your coins.

Right. Just use online wallet if  you are constantly purchasing something using bitcoin. It will be a hassle if you use offline or paper wallet when  you always buy something. But if  you are just holding your coins for future use, it is better to store it on paper / cold / offline wallet.
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