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Author Topic: Safest way to keep bitcoins?  (Read 18409 times)
The_prodigy
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June 16, 2017, 05:48:45 PM
 #61

For me, it is safe in standalone wallet where you can save your private keys. There is no safe  place to store it digitally but it depends on how to handle your important data. You can print and store your private keys in your safety deposit box if you have.
yes i think it too, i more likely touse a wallet that offers a private key, why? because it is hard for hackers to use it, because only qualified user can put that wallet because it is only be sent to a user and it will keep on where ever they want, i more likely to use a wallet that have a 2FA generator too, it is very hard for hackers to hack when you have a code generator.
hinatashoyou
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June 16, 2017, 09:14:34 PM
 #62

The safest way to store bitcoins is to periodically change the password, maybe once a week or once a month, depending on your needs, and make sure your computer is free from viruses. Do not ever use the same password if you use a lot of wallet, social media, or other account, 2FA is also important to make our wallet or account safe
pixie85
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June 16, 2017, 09:25:14 PM
 #63

The safest way ever is set up an offline computer with linux, install a wallet downloaded on another pc and make a new address while being offline. Send your coins from all your wallets/addresses to that offline wallet, create a backup copy and store them on a USB drive and boom! You've got yourself a perfectly safe offline storage with a backup in case the computer got damaged or stolen.
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June 16, 2017, 10:02:08 PM
 #64

The safest way ever is set up an offline computer with linux, install a wallet downloaded on another pc and make a new address while being offline. Send your coins from all your wallets/addresses to that offline wallet, create a backup copy and store them on a USB drive and boom! You've got yourself a perfectly safe offline storage with a backup in case the computer got damaged or stolen.

This is what i do , then some change in a wallet i use often.

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June 16, 2017, 10:07:29 PM
 #65

The safest way ever is set up an offline computer with linux, install a wallet downloaded on another pc and make a new address while being offline. Send your coins from all your wallets/addresses to that offline wallet, create a backup copy and store them on a USB drive and boom! You've got yourself a perfectly safe offline storage with a backup in case the computer got damaged or stolen.
Yes, I agree with you mate, This method is perfect when we talk about keeping our bitcoin safe from anything bad like stolen.
Personally, I use a web wallet and i feel secure too. But i think offline wallet are more secure because you save your bitcoin with yourself, but in web wallets you should to put your money at peoples hands.

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June 16, 2017, 10:08:01 PM
 #66

I use Electrum windows desktop wallet with standard feature and really happy with it as i just have to remember the passphrase to reinstall my wallet any where and it is very light , no need to sync it .

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June 16, 2017, 10:19:00 PM
 #67

For the average user a hardware wallet is the best combination of safety and useability. For someone with a little more technical knowhow creating and storing wallets on a fully offline and encrypted usb with multiple copies is the safest bet.

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June 16, 2017, 10:47:37 PM
 #68

The safest way ever is set up an offline computer with linux, install a wallet downloaded on another pc and make a new address while being offline. Send your coins from all your wallets/addresses to that offline wallet, create a backup copy and store them on a USB drive and boom! You've got yourself a perfectly safe offline storage with a backup in case the computer got damaged or stolen.
Yes, I agree with you mate, This method is perfect when we talk about keeping our bitcoin safe from anything bad like stolen.
Personally, I use a web wallet and i feel secure too. But i think offline wallet are more secure because you save your bitcoin with yourself, but in web wallets you should to put your money at peoples hands.
Saving your backup in usb drive its really not safe if you know usb can be damage if we are not use for a long time.. so if our pc was damaged and usb drive also damage because your not using it  for a long time. your bitcoin will turn into dust and gone..
For me right now there are a new devices where we can hold our bitcoin for a long time offline.
If you heard about trezor wallet its more safe wallet for me .. and ledger nano s if you are holding other altcoin and bitcoin..
Those wallet for me is more safety than installing long process to setup before you can have your wallet..

Make crypto as your bank.
MingLee
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June 16, 2017, 10:51:59 PM
 #69

For the average user a hardware wallet is the best combination of safety and useability. For someone with a little more technical knowhow creating and storing wallets on a fully offline and encrypted usb with multiple copies is the safest bet.
That's assuming that you're referencing a user that is able to store the synced blockchain.
For most people they would be able to do just fine as long as they had an online wallet with 2FA and they weren't retarded when it comes to technical literacy. If they can manage to do something like that, then most of their needs will be covered and they'll experience no issues.
For any large amount an encrypted wallet would definitely be one of the best bets.
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June 16, 2017, 10:52:28 PM
Last edit: June 17, 2017, 01:09:31 AM by n691309
 #70

What is the safest way to keep bitcoins.

Taken dangers like hacking, losing in to account!

Does your bitcoin amount is valued more than some hundreds of dollars or less, it that is more then I would suggest and highly recommend a hardware wallet. Few of the best bitcoin hardware wallets are Ledger, Trezor and Keepkey. Some of them are expensive some of them cost few tens of dollars, depending on your needs and your security needs you can choose any of them. All of them can be used as hot and cold wallet at the same time.
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June 16, 2017, 10:53:34 PM
 #71

For me the safest ways to store your bitcoin is using an offline wallet which can be free of web network intuders while you store it's amount. That is the best option to do and because of that certain ways of keeping bitcoin safe, there will be no possibilities of hackers to attack your wallet due to connections to web is not present. I also have a personal plans to use an offline wallet aside from the on I am using right now and I can see a bigger advantages of this compared from the one I am using right now.
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June 16, 2017, 11:05:39 PM
 #72

Safest way is not to use bitcoin and real work. There is no safe way if you use bitcoin, the price may rise or fall on earth. If you do not dare to risk do not use, save or earn bitcoin, just open shop or work in office
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June 16, 2017, 11:29:58 PM
 #73

Im into bitcoin since 2016 and I keep it in blokchain and coinbase apps which 2fa installed. I feel secured were my funds is stored in that wallet. So until now Im using this wallet apps and so far Ive got no encountered problem.
If you have a lot of bitcoins out there I highly recommend you to withdraw your funds out there, any centralized wallet like coinbase is not a good choice for storing your Bitcoin since they can freeze or lock your money, simply you don't have control over your money. Blockchain might be good for storing spendable amount, for huge amount, you should using desktop wallet like electrum.

The safest way to store bitcoins is to periodically change the password, maybe once a week or once a month, depending on your needs, and make sure your computer is free from viruses. Do not ever use the same password if you use a lot of wallet, social media, or other account, 2FA is also important to make our wallet or account safe
I'm afraid to change my password since if i lost my password it means that i don't have access to my coins and there is no way to recover it unless you have backup of your private key, instead of changing the password why not to enabled 2FA feature it is safer.
madwica
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June 16, 2017, 11:45:27 PM
 #74

Is there a way. No place is 100% safe. So far we have hackers
Also we do not own our wallet even we have a private key because they are the one who own the system that is why you are correct that there is no 100% safe to keep our bitcoin.
Baby Dragon
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June 17, 2017, 08:23:21 AM
 #75

So if i put the Ledger in my computer and with the wallet on my pc i sent it to the wallet on the Ledger usb then they the coins are gone from my computer and stored on the usb?

the coin or bitcoin is not a physical thing like fiat to transfer from one place to another.
a bitcoin wallet is a place to keep they keys. these keys are used to spend bitcoin, bitcoin which exists in form of transaction outputs stored on the blockchain and blockchain is held by every person around the world who is running a full node client.

so in short you keep the keys on Ledger or paper wallet, etc and then use that key for spending which is known as creating a transaction and signing it.

(i hope i didn't make it more confusing)
[/quote]

I think i get it! I get the part that its not a physical thing! But thoose keys represent an amount of bitcoins right? Or at least they communicate with the blockchain to show how much bitcoins there are on those keys!
[/quote]
Actually, there are many ways to keep bitcoin safe. Some people store their bitcoin in online wallet to keep it safe and secure to no one will try to stealth it. Furthermore, there are still people who use the cold storage because they know it’s the best to keep their bitcoin safe and secure. However, the way to keep your bitcoin is store it in online wallet.

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btcney
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June 17, 2017, 08:28:16 AM
 #76

What is the safest way to keep bitcoins.

Taken dangers like hacking, losing in to account!

Many people will say "make a paper wallet". In my opinion this isn't true. Paper wallets is able to get destroyed easily by natural disasters such as a fire, flood, and all that. Laminating it doesn't protect it from fire either, even though it might add a bit more water proofability.

I suggest what you do is, have a hardware wallet such as trezor or ledger. These might sound really expensive but they really aren't for the ease of access + security that they provide. Back up your recovery seed/encrypted private keys. Write it down first, and store it at your house. Then buy a cryptosteel which is extraodinarily secure and completely offline, and store it elsewhere. That way you have virtually 0 risk of losing btc.
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June 17, 2017, 08:34:54 AM
 #77

Is there a way. No place is 100% safe. So far we have hackers
You are right, there are no safe ways to put bitcoins. Saving bitcoins on online wallet can be hacked that is risk
also saving bitcoins on offline wallet can be losing the private key and hardisk,
so never put bitcoins on one kinds of wallet due to always there are risk losing bitcoins on online or offline wallet.
The other people said never put the eggs on one basket.
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June 17, 2017, 08:45:05 AM
 #78

The safest way is i think knowing what kind of techniques to the hacker uses to hack your account because no matter how secured or how sophisticated your software is you will be always be a victim to hacking if you yourself idiotically fall for their trap. Educating the yourself first on how to protect yourself in the internet should you must very learn. Sometimes no matter how encrypted your wallet or even you use a paper wallet it can also be hack if the attacker is inside your network. For me, i dont have to install any software in my computer like paper wallet or hardware wallet as long as i have knowledge its fine.

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Caelanpelley
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June 17, 2017, 10:02:33 AM
 #79

What is the safest way to keep bitcoins.

Taken dangers like hacking, losing in to account!
The best way is to give yourself enough necessary knowledge about internet. There is no place to keep bitcoin safe, which also has its drawbacks. And the attack is inevitable.
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June 17, 2017, 12:14:58 PM
 #80

COLD STORAGE! COLD STORAGE! COLD STORAGE! An offline wallet cannot be accessed and consequently hacked.

I agree that cold storage is the best way. For newbies, electrum could be the best option.
You can store your coins in cold storage and all you have to do is save the seed in a safe place.

This is the one I also prefer for storing in offline to avoid hacking and can be only access through personal ways. Though I want these offline wallets I still prefer the online one but I'm not stacking too much bitcoins because I use them as paying some things or transaction I had made. It had an easy access though it is vulnerable to hacking if using online.
Offline can be hacked too if your PC/laptop is injected with a virus.
Actually the best way to keep bitcoins is a wallet that has 2 factor authentication enabled in so that you can'e be hacked unless someone accesses your mobile. And if someone has your mobile then well, better you don't keep any hope of being anonymous and safe.
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