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bitart
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May 08, 2017, 07:08:39 PM |
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I suggest keeping a few paper wallets (cold storage) in a few different places. 0.01 to 0.1 Bitcoin in a variety of paper wallets, small amount on a TorWallet.com, hardware device like KeepKey.com, also blockchain.info for your virtual wallet when you pick up from LocalBitcoins.com. Keep them out of exchanges, just use them to purchase then move Bitcoin and other crypto as quick as you can to an environment where you keep control. Remember if you don't hold it, you don't own it.  This is all true (nearly), but you shouldn't forget that if you don't put any coins on exchanges, you can't trade, if you don't put it on gambling sites, you can't gamble, if you don't put a bit into web wallets, you can't spend them in a comfortable way (bitcoin debit card, etc)... So if you want to use your coins, it's impossible to avoid risking them. And it's not only the risk of the trading or gambling (not sure which has bigger risk  ) but every possible sotrage has it's risk. Even if you use paper wallets, seeds engraved in metal bar, laminated QR codes, etc... so you can't fully avoid risk. You should find the balance. |
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jak3
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Activity: 1274
Merit: 1004
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May 08, 2017, 07:40:46 PM |
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I keep my bitcoins mainly in my android device, since they are a bit insecured and I don't take any short of care of my android so there is always a good change to gets that stolen or robbed. so I always keep 2types of backups one is the encrypted private key backup. just to be sure I can keep the backup safe it is been stored into a cold storage  |
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BitcoinGirl.Club
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Merit: 2785
Bitcoingirl 2 joined us 💓
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May 08, 2017, 07:48:17 PM |
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I don't have a lot of bitcoins in my holdings so i just decided to put it on online wallet so i can use it anywhere with their app and i can use it easily rather than having an expensive hardware wallet which is good for people who got a lot of bitcoins to secure. I'm planning for next year to start getting a hardware wallet because this year, my plan is to collect bitcoin as many as i can.
Online saving of bitcoins isn't safe as the websites can be hacked and due to which you will loose all your bitcoins. You should look for offline wallets even if in your case you are having very few bitcoins. its a valid reason to keep bitcoins online like blockchain.info if you not holding a lot of them. Of course their is always that element of security but if we can have access to our own private keys i think web wallets might be convenient enough in some way without the need to wait for a wallet to sync before any transactions are done. |
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South Park
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May 09, 2017, 06:23:42 PM |
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I have all my coins in on an online trading site (paxful) (low volume)
I plan on making a large investment very soon, and want to safely store all of my coins
I.E I basically want to drop a couple thousand, and keep them in the safest possible way, where I can revisit them in 5-10 years or so and reap the benefits, or cry about the loss.
What is the best way to do this, and what's the best way of ensuring a backup?
How do you currently store your coins
thanks in advance for any inputs
for me i save it on local exchanger but for 5-10 years this is very high risk man.. i do not recommended you to save it for long time like 5-10 years . because nobody know about the price of bitcoin in the future Do not put your bitcoins in local exchange because even for just a few days it will still be risky for you because exchangers are very attractive for the hackers to hack and get money from that. It is better if you just buy hardware wallet and just put your bitcoins there and it is safer than local exchange and some of the hardware wallets are virus and malware proof so you are very safe. This applies not only to local exchanges but to anything really, would you leave your money in somebody else’s house for any amount of time? If the answer is no, then we must never leave our money in an exchange, while it is impractical it is the safer option. |
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NavySeals
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May 09, 2017, 06:30:08 PM |
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I like to store them in a paper wallet. But in case of the possibility of losing them, I prefer to use ledger nano s, a hardware to help us store our bitcoins securely. If you have more than 1-2 bitcoins, you can get one and try!
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khan149
Copper Member
Sr. Member
Offline
Activity: 463
Merit: 251
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May 09, 2017, 06:37:52 PM |
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I hold my bitcoin only coinbase wallet I think that's better for me.
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PrintMule
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May 09, 2017, 07:01:29 PM |
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If I am going to do lots of trading during the day, of course I keep using exchange market.But sometimes there are days when I have never been on trade.But if I'm not going to trade I definitely do not keep it in the exchange market.I keep it as a paper wallet.
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llyfee4u
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May 09, 2017, 07:24:13 PM |
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I keep my coin on the blockchain wallet app, although i have read some negative reviews about this. I would much prefer to keep a paper wallet but i don't feel particularly confident about that process at the moment. My goal is to ultimately keep a paper wallet though, the more i learn from forums like this about how to run a paper wallet, the quicker i can sort of move over to a paper wallet.
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nmaryrai
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May 09, 2017, 07:25:20 PM |
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I keep my coin on the blockchain wallet app, although i have read some negative reviews about this. I would much prefer to keep a paper wallet but i don't feel particularly confident about that process at the moment. My goal is to ultimately keep a paper wallet though, the more i learn from forums like this about how to run a paper wallet, the quicker i can sort of move over to a paper wallet.
I just save bitcoin on web wallet. Because I rarely use bitcoin, or when I want to trade or make a purchase of goods in online stores. |
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BitFinnese
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May 09, 2017, 08:59:38 PM |
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I keep my coin on the blockchain wallet app, although i have read some negative reviews about this. I would much prefer to keep a paper wallet but i don't feel particularly confident about that process at the moment. My goal is to ultimately keep a paper wallet though, the more i learn from forums like this about how to run a paper wallet, the quicker i can sort of move over to a paper wallet.
I just save bitcoin on web wallet. Because I rarely use bitcoin, or when I want to trade or make a purchase of goods in online stores. Well if you are trading there is nothing you can do but to trust your bitcoin to the exchange owner. But if it is idle, it is advisable to withdraw your coins and save it to your local stash or paper wallet or trezor. There are lot of instances where people lost their btc in ther web wallet when the site is hacked. |
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rakib97
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May 10, 2017, 06:06:48 AM |
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day by day btc increase so I keep my btc. I keep my btc trading site cause when I see any coin price low rate I buy and high rate sell. other I keep online wallet it's best for all.
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citywise2
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May 10, 2017, 06:23:55 AM |
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All i need to do is to have my wallet ready all the time.
Bitcoin can not be saved any other way than the wallet.
There no way we can save or secure our Bitcoin than wallet.
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South Park
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May 10, 2017, 07:33:48 PM |
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I like to store them in a paper wallet. But in case of the possibility of losing them, I prefer to use ledger nano s, a hardware to help us store our bitcoins securely. If you have more than 1-2 bitcoins, you can get one and try!
Storing one or two bitcoin in a hardware wallet seems like a waste of time and of a great product, you don’t need that level of security for such a low amount of coins, install a desktop wallet and be happy with it, or as you suggest you could use a paper wallet which are very inexpensive. |
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fitty
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May 10, 2017, 09:10:47 PM |
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All i need to do is to have my wallet ready all the time.
Bitcoin can not be saved any other way than the wallet.
There no way we can save or secure our Bitcoin than wallet.
Yeah, that is what the primary keeper of our Bitcoin. The wallet ( either online wallet, hardware wallet, paper wallet, etc) For me, I am investing some of my bitcoins so it will gain profit and will be kept at the same time. I believe " All eggs shouldn't be put only in one basket", right? |
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Rahees
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Activity: 238
Merit: 10
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May 10, 2017, 09:20:48 PM |
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I just keep all mine in the block chain wallet as its simple and easy to use.
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neuralstar
Newbie
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Activity: 22
Merit: 0
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May 11, 2017, 01:12:21 AM |
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i use an online wallet: ethereum-wallet.net. I heard that online wallets are risky but so far I havent had any problems. Of course if you have a lot of crytptocurrency, you should probably use an offline wallet to be absolutely safe.
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Strongkored
Legendary
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Activity: 2968
Merit: 1114
DGbet.fun - Crypto Sportsbook
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May 11, 2017, 02:17:17 AM |
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i use an online wallet: ethereum-wallet.net. I heard that online wallets are risky but so far I havent had any problems. Of course if you have a lot of crytptocurrency, you should probably use an offline wallet to be absolutely safe.
Maybe today or up to a month or a year then your funds will be safe in online wallet, but put your funds in online wallet is not safe for long term, you should immediately use the offline wallet, it is important and strongly recommended especially if the funds Which you have in large quantities. |
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neuralstar
Newbie
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Activity: 22
Merit: 0
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May 11, 2017, 04:36:17 AM |
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i use an online wallet: ethereum-wallet.net. I heard that online wallets are risky but so far I havent had any problems. Of course if you have a lot of crytptocurrency, you should probably use an offline wallet to be absolutely safe.
Maybe today or up to a month or a year then your funds will be safe in online wallet, but put your funds in online wallet is not safe for long term, you should immediately use the offline wallet, it is important and strongly recommended especially if the funds Which you have in large quantities. I have 1.4 eth in that wallet that I made from some signature campaigns. I might move it to an exchange so I can change it into bitcoins in the future. If i had any significant amount, I would not be touching any online wallets. |
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findingthemoon
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May 11, 2017, 04:36:52 AM |
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This is frowned upon by a lot of people but I keep my bitcoins on exchanges with 2FA. Put it simply I trust more in the security of the exchange than I do my own ability to secure my computer and with the 2FA its unlikely I can get my own personal account hacked on an exchange.
Can the exchange get hacked? Yes, however there are usually red flags to see before the chaos, and that gives time to move to another exchange.
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Dudeperfect
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May 11, 2017, 05:37:34 AM |
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I am a deep believer of diversification technique and hence, I have my bitcoins scattered on various options such as few in web wallet (for regular transactions), few on exchanges (for trading), few on (buffer web wallet) to pay bills etc and some of the coins in cold storage (for long term). I don't think that keeping all funds in one option is a good practice to do.
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