bradleyb5155 (OP)
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June 17, 2017, 05:44:03 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
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maydna
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June 17, 2017, 05:58:47 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
there is no absolute fastest and safest way to store coins in an exchange, every exchange have possibility to scamming people. but if you want, you can use the other software that installed in your personal computer or your android phone so only you that have the access of your coins. if you are afraid to save your coins in an exchange, its better for you to not save all of your coins into the exchange and you need to save it into other place like i mention before.
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Harlot
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June 17, 2017, 06:15:21 AM |
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If I were you I won't let my Cryptocurrencies hanging around in an exchange site, the risk involve by doing that is obviously high. What you can do is store all your Cryptocurrencies in their respective Wallets therefore the possibility of getting hack is lesser than holding your coins in an exchange site, my claims are being based on what people are trying to say in the safety of your Coins.
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Herbert2020
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June 17, 2017, 06:53:48 AM |
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option 1: choose one of the hardware wallets that are currently available, such as Trezor or Ledger. buy one, learn how to use it and transfer your funds to that. fast and safe. option 2: learn how to use bitaddress to generate a paper wallet. do that, print it and send your funds there. p.s. if by cryptocurrencies you mean multiple altcoins not bitcoin, then i believe Trezor or possibly others support some other altcoins such as LTC too. also there is another project (which i don't know if it is good or not) which is similar to bitaddress and generates paper wallets for altcoins here is the link: https://walletgenerator.net/ but i don't know if it is trusted like bitadress or not.
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Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip. Whales are those who keep buying the dip.
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HabBear
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June 17, 2017, 06:54:03 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
This question will come as a contradiction first..."exchange" and "safest" don't go to together. That said, the safety that comes with a Bitcoin (or other alt crypto-currency) wallate comes with how easily anyone else can open it. That ease comes from a very few specific criteria; 1. Does someone other than you have access to your wallet's private keys? (every online wallet does) 2. Is your wallet connected to the internet? (if so it is vulnerable to attack and hack). The only way to truly get around these risks is to have a wallet that lives off line and gives you complete and sole control to the private keys. Trezor comes to mind first, but the aren't the only good option. Read about.
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shamzblueworld
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June 17, 2017, 07:00:43 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
Fastest would be to right away withdraw them to your wallet, safest would probably be cold storage. But first and foremost is withdrawing the coins to your wallet so you have full control over them.
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OmegaStarScream
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June 17, 2017, 07:01:32 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
UASF is coming on 1st August, the last thing you want to do is holding your funds in an exchange, just switch to something more convenient like a desktop wallet If you don't have much, otherwise with a hardware wallet or a paper wallet for long term storage.
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stomachgrowls
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June 17, 2017, 07:07:41 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
Never ever store up your coins on an exchange as been said above the risk of being scammed or lost of your coins would be there.We know exchanges that anytime they would be hacked and would stole of all the coins on its users or maybe they would ran all the money you have.Its really possible to happen thats why its wise to store up on hardware or offline wallets.
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rockem5
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June 17, 2017, 08:42:41 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
transfer em over to another wallet that you can control your private keys. Try out: Windows: Electrum Android: Copay / Mycelium iOS: BreadWallet
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Nagadota
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June 17, 2017, 08:56:40 AM |
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If I were you I won't let my Cryptocurrencies hanging around in an exchange site, the risk involve by doing that is obviously high. What you can do is store all your Cryptocurrencies in their respective Wallets therefore the possibility of getting hack is lesser than holding your coins in an exchange site, my claims are being based on what people are trying to say in the safety of your Coins.
That's exactly what the OP is asking for, and you're not giving them any useful information.
It depends what you're looking for, OP. You have two main choices: 1. Taking your coins out of an exchange to a wallet which you spend from regularly. For this I would suggest Electrum, a TREZOR, or both used together. 2. Taking your coins out of an exchange for cold storage. For this I would suggest creating a paper wallet which you only use once, and create a new paper wallet each time you take funds out of the exchange.
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deisik
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June 17, 2017, 08:58:37 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
This question will come as a contradiction first..."exchange" and "safest" don't go to together In fact, there is a way, though it is likely not what the OP actually meant to ask A disclaimer, I didn't use this method myself but I know that other traders are using this approach (if only occasionally) and especially in circumstances like these (the coming Bitcoin split and the overall panicky sentiment). Basically, you can hedge your coins without actually having them in an exchange, though it would cost you something (not much). You use two exchanges that allow margin trading and open two margin positions offsetting each other. Since you have to provide only, say, 15% initial margin (I take Bitfinex as an example), in the worst case (exchange scamming and running away with your coins), you will lose only as much. The advantage is two fold, first, you insure yourself from price volatility and, second, you don't have to keep the bulk of your coins in your exchange account
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Juggy777
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June 17, 2017, 09:45:15 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
I believe this is in reference to August 1st panic, we'll I would suggest you to move it to paper wallet or any wallet for that matter that gives you private keys. Fastest you mean you are worried that your coins are getting stuck then pay higher fees or head into service section out here, many are making fast transactions done for a fee or even free using trx services.
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Wendigo
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June 17, 2017, 10:36:50 AM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
Ledger Nano S
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bradleyb5155 (OP)
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June 17, 2017, 05:29:31 PM |
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option 1: choose one of the hardware wallets that are currently available, such as Trezor or Ledger. buy one, learn how to use it and transfer your funds to that. fast and safe. option 2: learn how to use bitaddress to generate a paper wallet. do that, print it and send your funds there. p.s. if by cryptocurrencies you mean multiple altcoins not bitcoin, then i believe Trezor or possibly others support some other altcoins such as LTC too. also there is another project (which i don't know if it is good or not) which is similar to bitaddress and generates paper wallets for altcoins here is the link: https://walletgenerator.net/ but i don't know if it is trusted like bitadress or not. Is electrum safe?
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bradleyb5155 (OP)
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June 17, 2017, 05:30:23 PM |
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What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?
transfer em over to another wallet that you can control your private keys. Try out: Windows: Electrum Android: Copay / Mycelium iOS: BreadWallet Electrum 100% safe?
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ralle14
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June 17, 2017, 05:46:41 PM |
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Electrum 100% safe?
Be careful when you post there's no need to post the same thing just merge them to avoid double posting.Yes electrum is safe afaik and i'm also using it with no problem. Always save/make a backup so you won't lose access of your coins. Thank You, Electrum seems super fast. It doesn't appear to take up that much space on HDD? Is that true?
Yup. It's a light wallet so you don't have to worry about space on your hdd.
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bradleyb5155 (OP)
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June 17, 2017, 05:49:39 PM |
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Electrum 100% safe?
Becareful when you post there's no need to post the same thing just merge them to avoid double posting.Yes electrum is safe afaik and i'm also using their wallet. Always save/make a backup so you won't lose access of your coins. Thank You, Electrum seems super fast. It doesn't appear to take up that much space on HDD? Is that true?
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Kprawn
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June 17, 2017, 06:13:49 PM |
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Go to https://www.bitaddress.org/ to generate a paper wallet {make sure you are offline when you doing it} .... That will be the fastest method, but not the most secure method. Ordering a hardware wallet is a slower process, but it might be a bit more secure. The last method, is to go out to a second hand shop to buy a old second hand computer & printer. Copy the whole website { https://www.bitaddress.org/ } [script] and copy it on this computer's harddrive and run it... generate a bunch of paper wallets and print it on the printer. {do not go online with this equipment again} ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Wendigo
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June 17, 2017, 06:21:20 PM |
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Electrum 100% safe?
Becareful when you post there's no need to post the same thing just merge them to avoid double posting.Yes electrum is safe afaik and i'm also using their wallet. Always save/make a backup so you won't lose access of your coins. Thank You, Electrum seems super fast. It doesn't appear to take up that much space on HDD? Is that true? Why don't you just download the software and see for yourself? Or better yet get a hardware wallet and save on your precious HDD space.
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Prohodimec
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June 17, 2017, 07:54:13 PM |
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Electrum 100% safe?
Becareful when you post there's no need to post the same thing just merge them to avoid double posting.Yes electrum is safe afaik and i'm also using their wallet. Always save/make a backup so you won't lose access of your coins. Thank You, Electrum seems super fast. It doesn't appear to take up that much space on HDD? Is that true? Why don't you just download the software and see for yourself? Or better yet get a hardware wallet and save on your precious HDD space. But how then can you react to everything that happens to a newcomer? If there are real threats. In some cases, even the software may not help, if there is no specific knowledge. But it seems to me that this is a matter of practice and skills.
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