Should I backup my bitcoin? How do you backup yours?

[layoutph]

All bitcoin money I earned from my freelance services is save from blockchain.info. Are web wallets safe? I tried Bitcore but it says it will took 7days to download the blockchain and its so huge. It will fill my harddrive.

May I know how do you backup your bitcoins? Can you save it from your emails? Google Drive, Dropbox?

Thanks,

[achow101]

It is highly recommended that you not use a web wallet, especially if you have a large amount of Bitcoin.

I suggest that you use Electrum on your computer. You can create an Electrum wallet and send the Bitcoin from blockchain.info to Electrum.

To backup your wallet, all you have to do is go to File > Save Copy and save a copy of the wallet file to a safe location. You will also receive several (13 I think) wallet seed words. Remember or write down these words some place secure as you can use these words to restore your wallet.

[BitcoinBarrel]

Make a paper wallet that isn't so obvious with a QR code private key, and laminate it or something. Send your cold storage coins to that address. Scan the QR code to import when you want to send.

[pooya87]

the safest choice is a cold storage, and you can do it easily with Electrum that achow101 suggested. you either need another computer that is always offline or if you don't have that you can use a live linux to create the wallet offline, write down the seed on a piece of paper, double check and shut down the live linux saving nothing else.
every time you want to spend you run the live linux, recover the wallet with the seed and spend.
more info: http://docs.electrum.org/en/latest/coldstorage.html

[ArcCsch]

Use a paper wallet, I posted a step-by-step guide here:
https://bitcointalk.org/index.php?topic=1559277.msg17075677#msg17075677
Print multiple copies if you want the extra insurance against loss or destruction.
Never upload your keys to any web hosting service.
Use paper wallets as "cold-storage", store ~50 mBTC in each one.
Use electrum or Mycellium as a "hot-wallet", break open a paper wallet when the balance is running low.
You can use paper wallets directly to receive payment, I am currently doing this with the address next to my avatar.

[layoutph]

hi guys thanks for the response, I have just downloaded electrum. Looks good and not downloading the entire blockchain   Will try paper wallet someday.

One more question is the wallet generated by Electrum readable from other desktop wallets?

[Senor.Bla]

You and all others should always do a backup of all important things. The how always depends on the form of your wallet. If it is a paper wallet, then have a copy or more at different places.

[Wendigo]

If you have saved your master seed and now input that master seed into another wallet you should be able to access your wallet from the exact point you have left it at on Electrum.

[disclaimer201]

I very much like the paper wallet idea mentioned above and will start to look into electrum as well just because downloading 100gb will take forever. I suggest people who are running full nodes need to be reimbursed in some way for keeping the system up and running and decentralized! Currently I am using a hardware wallet (Trezor) that will allow me to keep my private keys private and at the same time be able to connect it to a computer with internet connection. Also, no downloading of the blockchain necessary, and there is a back-up option via electrum for Trezor.

[bitbunnny]

Be careful what wallet you choose, for larger amount of bi web wallets are not very much recommended. You can choose some hard wallet which is better option. Also you should back up your wallet, I think every wallet has this option and in emergency situations this could realy save you. I'm not fan of paper wallets because they are not very convenient but from security point of view it's also good option.

[Ironsides]

Web wallets are not safe none more so than blockchain.info,  they oppose  Segwit  I would steer clear of them

[Hazir]

hi guys thanks for the response, I have just downloaded electrum. Looks good and not downloading the entire blockchain   Will try paper wallet someday.

One more question is the wallet generated by Electrum readable from other desktop wallets?

Electrum is using Simplified Validation method it means that whole blockchain is stored online and your wallet is fast as it operates in conjunction with electrum's servers.

Paper wallets are not really that amazing unless you want to research how the process of creating such wallet works or have a lot BTC you want to store safely away.

About importing from other wallets: AFAIK you can't import private keys in a wallet that has a seed. You can sweep them instead.

About exporting: I am not really sure but Electrum seems to be not compatible with any other wallet.

[Ankara]

I would just buy a ledger wallet making it near on unhackable and then save the seed in two very safe locations. Job done.

[Rachelin]

It is highly recommended that you not use a web wallet, especially if you have a large amount of Bitcoin.

I suggest that you use Electrum on your computer. You can create an Electrum wallet and send the Bitcoin from blockchain.info to Electrum.

To backup your wallet, all you have to do is go to File > Save Copy and save a copy of the wallet file to a safe location. You will also receive several (13 I think) wallet seed words. Remember or write down these words some place secure as you can use these words to restore your wallet.

You are right, but I still believe in private wallet for cold storage if you have many bitcoins on it. Of course if you use private wallet , you must spend many days to download and install blockchain but this fact is safe and necessary in the future

[deadsilent]

Web wallets are not good for storing huge amount of bitcoin. Just use mycellium or electrum wallet. Its offers maximum level of security like cold storage. I suggest use cold storage for huge amounts because its more safety than ordinary wallets. But its up to you also how you keep your btc. Make sure you have a clean computer where you will install your wallet. Having your computer infected with virus can cause losing your btc.

[Herbert2020]

hi guys thanks for the response, I have just downloaded electrum. Looks good and not downloading the entire blockchain   Will try paper wallet someday.

One more question is the wallet generated by Electrum readable from other desktop wallets?

no the wallet.dat file that Electrum creates for you can not be used in any other wallet program. and as far as i know the seed is specific to Electrum itself.

but if a case came up that you needed to do this (which most probably would not) you can always export your private keys one by one and a private key is easily usable in any bitcoin wallet out there that supports importing.
and also there are tools (simple code) that can be used to turn your seed into your private keys.
as i said these are only used in case you could not use Electrum but it wouldn't happen anyways.

[Sahyadri]

I keep my coins on my vanity address created by vanitygen

Use the public key (address) to check coins received on any web explorer.

If need to make a payment I use electrum.

Transfer the coins to the address i am making payment to and the remaining coins to a new vanitygen address.

[mobnepal]

All bitcoin money I earned from my freelance services is save from blockchain.info. Are web wallets safe? I tried Bitcore but it says it will took 7days to download the blockchain and its so huge. It will fill my harddrive.

No web wallets aren't safe to store heavy amount of bitcoin and yeah it may take few days to download official bitcoin client to use as wallet. Easiest option for you could be printing out paper wallet which can be generated offline using bitaddress.org github source code. And don't forget to use offline printer to print it out and save that paper wallet in safe place. Put bitcoin in that generated address and don't store that paper wallet file anywhere online. You can use those bitcoin when you need it by just importing that address to any web wallet.

[lionheart78]

I use different wallet, electrum, multibitHD and armory. I always get the private key or seed key of the address I use just in case my computer crash and worst scenario, my hard disk is damaged.  
About web wallet, i don't see them very safe because of the possible hack.

[NUFCrichard]

I keep my coins on my vanity address created by vanitygen

Use the public key (address) to check coins received on any web explorer.

If need to make a payment I use electrum.

Transfer the coins to the address i am making payment to and the remaining coins to a new vanitygen address.

Did you use an online vanitygen? I wouldn't trust that as far as I could throw it!
I use Electrum and the seeds are my form of 'back up'

Trezors sounds good, but I fear that a hardware glitch could lose my coins. I have heard that they are still recoverable in this case, but if that is the case, it means that the Trezor icn't really that secure anyway!

Don't click on links, use strong and unique passwords, keep your antiviruses upto date.