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Author Topic: how to store bitcoin for long term?  (Read 1067 times)
Kakmakr
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June 27, 2017, 05:52:45 AM
 #21

If I am correct, you want to test the Bitcoin address/Private key before you use it for long-term storage, right? I use Tails OS with a built-in wallet and I boot from it with a persistent volume. Now you just generate the paper wallet in advance with the Bitaddress.org script and you sweep the wallet. < Many people says that the wallet is compromised, but I have not had problems with any of my paper wallets, since I have done this >

Or use this - https://blockchain.info/de/wallet/paper-tutorial   

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June 27, 2017, 07:53:52 AM
 #22

For me I just hold it with my current bitcoin wallet provider here in Philippines the coins[.]ph because they are legal and known here already for a long time and I trust it with no problem sense I open my account there.

But we have different ways on how to handle and take risk of our bitcoin.

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June 27, 2017, 08:02:26 AM
 #23

i would just use a is stick to hold the wallet.dat not individual private key because there are hidden address in the wallet

so if you only save the private key you may lose the chance to backup some coin

I also leave few btc online for day shopping just yo not expose much my cold storage in case I need  to spend

another reason is that, those by can fiction as a 'trap' on the sense that if they steal me those I know my machine is infected
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June 27, 2017, 08:05:39 AM
 #24

It will be stored for millions of years when your BTC carved on the surface rocks.

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June 27, 2017, 08:57:59 AM
 #25

I will keep it in my laptop with the wallet I have provided from before, and not that I will keep it all somewhat not hijacked by people who do not want responsibilities.
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June 27, 2017, 09:29:42 AM
 #26

If you really want some secured wallet for bitcoin and also for cold storage and long term then hardware wallet is one of the best choice because hardware wallets are encrypted and they are all decentralized so you are still controlling all of your money and it is in your hand, not in a site or app but in your hand so it is more like having an advantage for long term because you don't need to worry about the hackers anymore.

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June 27, 2017, 09:30:42 AM
 #27

For a long period of time should you choose the wallet offline. It will make you very safe compared to storing it in web wallet.
Web wallet is currently very well used for mobility, while if your goal is just save then the offline wallet should you choose.



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June 27, 2017, 09:39:40 AM
 #28

You can try web wallet if you want store bitcoin for 1-2years but if you stored for more long term like 3-10 years, download bitcoin core and keep it your bitcoin on the wallet. Remember to don't stored it on exchange site.
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June 27, 2017, 01:30:25 PM
 #29

I think the best way to store bitcoins long term is an encrypted offline generated private key, it's both secure and better as long term storage for the currency,
I suggest using Armory as well, seeing how much the emphasis on security is and how well built it can be, little harder to use for newbies.
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June 27, 2017, 01:35:08 PM
 #30

Just print paper wallet because it is very easy to create and it doesn't need too much money to create it because you'll just need to print it from the paper and secure it by placing it to the safe places like in the vault or in a zipper bag so it will become a water proof. Paper wallet is one of the most trusted offline storage and i think that it is the best because of its affordability.

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June 27, 2017, 01:50:30 PM
 #31

Say for example after August first we have bitcoin 'classic' and bitcoin 'new'

What will happen to coins on a hardware or cold storage wallet when you plug them back in?  Huh
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June 27, 2017, 02:17:19 PM
 #32

I think Electrum and tools for importing their seeds should be around for a long time. Hardware wallets use similar seed structure so they can be a good choice too.
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