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Author Topic: How do you keep your bitcoins?  (Read 48792 times)
severaldetails
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April 19, 2017, 07:31:19 AM
 #241

Actually, a big fraction of what I own in bitcoin is stashed in a few online wallets.
The reason is because I do not own that many bitcoins.
If I had a bigger amount, I would use a paper wallet (probably more than one paper wallet).
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April 20, 2017, 06:37:45 PM
 #242

Create a unique bitcoin adress.
Don't share you private adress with anyone.
Setup a phrase for private adress.
Print out a paper wallet.
Keep that wallet in safe.
Make sure that nobody is able to reach and see your private key.
That's all! You don't need any shinny bitcoin hardware wallet.
I think users want something flexible. paper wallet will be a little tricky to use, it might be nice to use paper wallet if you're already committed to keep bitcoin in a long time

Oh come on, there is nothing tricky with paper wallet. It's simple and secure. For a beginner, there is nothing easier than online wallets such as Coinbase and Blockchain.info for sure. Yet If you wanna make sure your bitcoins are in secure, the paper wallet method is out there for you!

I'm not concerned about security. because paper wallet will definitely be safe because you will be protected from hackers, I'm concerned about the flexibility of paper wallet would be less complicated to transaction right ?


Yes, you're right. Yet, this still doesn't mean using paper wallet is tricky as you said above.
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April 20, 2017, 09:42:37 PM
Last edit: April 20, 2017, 11:35:17 PM by jorneyflair
 #243

Everybody should choose the wallet that fits well, it is most important to have transparent, easy in use wallet.

It mostly depends what exactly do you need in wallet service, because if you are looking for mobile wallet, then some web one should be fine. However don't ever store too many bitcoins in that wallet because it is more likely to get hacked.

But if you need a good way to store your bitcoins safely when you don't need to access it for a long time, the using cold wallet is a great solution.
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April 20, 2017, 10:22:15 PM
 #244

How do you currently store your coins

Nowadays, they can be safely stored for days or weeks just by spending them. Tongue Cheesy Huh

Well, some others tend to store their earnings from an external wallet or offline wallet . just to make sure that they will not be scammed . and your tellling us that you can safely store your earnings for days by just spending them? I think thats not real.
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April 20, 2017, 11:27:41 PM
 #245

Everybody should choose the wallet that fits well, it is most important to have transparent, easy in use wallet.

It mostly depends what exactly do you need in wallet service, because if you are looking for mobile wallet, then some web one should be fine.
But if you need a good way to store your bitcoins safely, the using cold wallet is a great solution.

Cold wallet storage is nothing more than a term for Bitcoins that are stored offline through a paper wallet, physical coin, USB stick, CD, dedicated hardware wallet, etc. Everything can be seen as cold storage as long as the coins can't be accessed from the internet. I personally use several cold storage methods -- digital wallet files stored on USB sticks, paper wallets, and a Trezor hardware wallet. I like security. Tongue
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April 20, 2017, 11:37:49 PM
 #246

As for me, I prefer to store all my coins in different places.
Such as, 2-3 wallets, altcoin trading platforms, and if possible invest in some projects..

This way I believe, my coins will be secure and by the time I will also get some returns from trading and investments.

Frankly saying, I don't like cold storage.  Wink
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April 20, 2017, 11:43:05 PM
 #247

I am storing my coin online wallet, I am not that afraid to use online because first I am sure it more secure for my coins then I do not have that huge amount of coins to bother of and I can transact using online wallet wherever I want I do not need to rush home to just pay some bills so I can use it wherever and whenever I want as long as I have internet connection no worries at all. Lips sealed
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April 20, 2017, 11:51:26 PM
 #248

I keep my Bitcoin in my local wallet.  I use light wallets like electrum so that I do not have to download the whole blockchain.  And paperwallet for the Bitcoin that I intend not to spend for a very long time.

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April 21, 2017, 12:03:45 AM
 #249

I am storing my coin online wallet, I am not that afraid to use online because first I am sure it more secure for my coins then I do not have that huge amount of coins to bother of and I can transact using online wallet wherever I want I do not need to rush home to just pay some bills so I can use it wherever and whenever I want as long as I have internet connection no worries at all. Lips sealed
True excellence using online wallet is very flexible you can use it on mobile or other gadgets. Most importantly you have an internet connection. And no doubt about its safety
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April 21, 2017, 01:13:32 AM
 #250

right now I'm just relying on online wallet, this is because I have not many have the bitcoin (about 0.75 btc), the most important is I use 2FA so if you want to login or the transfer will require SMS verification.
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April 21, 2017, 01:23:31 AM
 #251

I keep my bitcoins divided into few online wallets. I know it's not safest place to keep bitcoins, especially if wallet don't gives your private keys, but I don't want to keep bitcoins on desktop wallet because I'm afraid to catch virus, which can steal my coins. I also keep some bitcoins in few exchanges for trading. But it's only small amount, keeping all bitcoins on exchanges is not recommended. I think safest place to keep bitcoins is hardware wallet like Trezor, but it costs quite expensive.
It is a great idea to divide the bitcoin you will kept on two or more wallet. But for me i used two kinds of wallet such as an online wallet  and application wallet. For me doing these may make the risk on holding and storing prevented on scamming or issues.  I used an application wallet called coin.ph where i can hold and store my bitcoin while using in transaction like paying bills, buying load or even converting bitcoin for other transaction. And i also used blockchain for transaction where limit is not needed for gambling and deep transaction. Through these we can less the risks and problems.
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April 21, 2017, 04:22:19 AM
 #252

right now I'm just relying on online wallet, this is because I have not many have the bitcoin (about 0.75 btc), the most important is I use 2FA so if you want to login or the transfer will require SMS verification.

This is what I do to keep my bitcoins. Though it is very risky, I know the fact about it but I don't want to be confident to store my bitcoins with an hardware wallet because most of the people here that I live together are reckless. I don't want to trust them anything that I own but they keep on using the things that they don't own.


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April 21, 2017, 05:17:11 AM
 #253

right now I'm just relying on online wallet, this is because I have not many have the bitcoin (about 0.75 btc), the most important is I use 2FA so if you want to login or the transfer will require SMS verification.

This is what I do to keep my bitcoins. Though it is very risky, I know the fact about it but I don't want to be confident to store my bitcoins with an hardware wallet because most of the people here that I live together are reckless. I don't want to trust them anything that I own but they keep on using the things that they don't own.
I have a lot of wallet online and all of them are under 2FA, so far I have not lost any amount so I conclude that 2FA is very effective
as a security tool. The more wallet I have the more I feel safe, I diversified it all actually.

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April 21, 2017, 05:20:52 AM
 #254

right now I'm just relying on online wallet, this is because I have not many have the bitcoin (about 0.75 btc), the most important is I use 2FA so if you want to login or the transfer will require SMS verification.

This is what I do to keep my bitcoins. Though it is very risky, I know the fact about it but I don't want to be confident to store my bitcoins with an hardware wallet because most of the people here that I live together are reckless. I don't want to trust them anything that I own but they keep on using the things that they don't own.
I have a lot of wallet online and all of them are under 2FA, so far I have not lost any amount so I conclude that 2FA is very effective
as a security tool. The more wallet I have the more I feel safe, I diversified it all actually.

Smart idea. I just use Blockchain.info currently, but I don't keep all my money there, only a little part. I use many sites, so my money stay diversified among all of them. It's somehow the same thing you do with your money. Split the money is the best way to prevent ourselves against hackers. If we lose a part it won't affect us at all, as it will be just a little part.

 
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April 21, 2017, 05:24:09 AM
 #255

right now I'm just relying on online wallet, this is because I have not many have the bitcoin (about 0.75 btc), the most important is I use 2FA so if you want to login or the transfer will require SMS verification.

This is what I do to keep my bitcoins. Though it is very risky, I know the fact about it but I don't want to be confident to store my bitcoins with an hardware wallet because most of the people here that I live together are reckless. I don't want to trust them anything that I own but they keep on using the things that they don't own.

Keeping your Bitcoin in your online wallet is one of the most common way to save it. But I highly suggest, if you will not need it for the meantime, try to keep it in trading sites and buy or trade some coins then sell it in the future if the value increases. By doing that, you've saved your Bitcoin and at the same time earned more from trading.
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April 21, 2017, 07:36:50 AM
 #256

right now I'm just relying on online wallet, this is because I have not many have the bitcoin (about 0.75 btc), the most important is I use 2FA so if you want to login or the transfer will require SMS verification.

This is what I do to keep my bitcoins. Though it is very risky, I know the fact about it but I don't want to be confident to store my bitcoins with an hardware wallet because most of the people here that I live together are reckless. I don't want to trust them anything that I own but they keep on using the things that they don't own.

Keeping your Bitcoin in your online wallet is one of the most common way to save it. But I highly suggest, if you will not need it for the meantime, try to keep it in trading sites and buy or trade some coins then sell it in the future if the value increases. By doing that, you've saved your Bitcoin and at the same time earned more from trading.

I don't recommend to save it on the trading sites, it's better to keep that on those trusted online wallet websites rather than trading sites. Since you just want to save it for better then you don't need to do buying and selling of it as you will be focused on other things while waiting for the right time to sell it, since selling is very easy.


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NEWGOODOUBLE
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April 21, 2017, 08:07:26 AM
 #257

right now I'm just relying on online wallet, this is because I have not many have the bitcoin (about 0.75 btc), the most important is I use 2FA so if you want to login or the transfer will require SMS verification.

This is what I do to keep my bitcoins. Though it is very risky, I know the fact about it but I don't want to be confident to store my bitcoins with an hardware wallet because most of the people here that I live together are reckless. I don't want to trust them anything that I own but they keep on using the things that they don't own.

Keeping your Bitcoin in your online wallet is one of the most common way to save it. But I highly suggest, if you will not need it for the meantime, try to keep it in trading sites and buy or trade some coins then sell it in the future if the value increases. By doing that, you've saved your Bitcoin and at the same time earned more from trading.
Keeping in the trade would be quite risky seeing there are some trading sites that became scam a few days ago. Make sure you save on a trusted trading site.
kurokishi10
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April 21, 2017, 08:27:07 AM
 #258

I would never trust  an online site,u are always at a risk of loosing them ,I currently have 2 btc and they are kept safe in mycelium wallet,for begginers block chain is useful but when u exceed half a btc I would prefer mycelium over anything else ,it has appropriate protection and the fees is nominal I'm not saying its less but compared to others its protection is top class so I'll prefer that you
 go with mycelium Shocked
Wong Gendheng
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April 21, 2017, 10:02:08 AM
 #259

I would never trust  an online site,u are always at a risk of loosing them ,I currently have 2 btc and they are kept safe in mycelium wallet,for begginers block chain is useful but when u exceed half a btc I would prefer mycelium over anything else ,it has appropriate protection and the fees is nominal I'm not saying its less but compared to others its protection is top class so I'll prefer that you
 go with mycelium Shocked
I think there are still many trusted online site, the best way to save your bitcoin is to divide into several places so that if one place is closed then we still have a backup and our bitcoin not lost all.
Haladay
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April 21, 2017, 08:39:44 PM
 #260

right now I'm just relying on online wallet, this is because I have not many have the bitcoin (about 0.75 btc), the most important is I use 2FA so if you want to login or the transfer will require SMS verification.

This is what I do to keep my bitcoins. Though it is very risky, I know the fact about it but I don't want to be confident to store my bitcoins with an hardware wallet because most of the people here that I live together are reckless. I don't want to trust them anything that I own but they keep on using the things that they don't own.
I have a lot of wallet online and all of them are under 2FA, so far I have not lost any amount so I conclude that 2FA is very effective
as a security tool. The more wallet I have the more I feel safe, I diversified it all actually.

Smart idea. I just use Blockchain.info currently, but I don't keep all my money there, only a little part. I use many sites, so my money stay diversified among all of them. It's somehow the same thing you do with your money. Split the money is the best way to prevent ourselves against hackers. If we lose a part it won't affect us at all, as it will be just a little part.

Yeah, this one is a smart idea which actually works well with 2FA security method. The same method should ve used in exchange sites such as poloniex, bittrex etc.
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