Where is it safe to store money?

[Reid]

Why not stay on using Electrum? It is the best application for me that is really secured.
Seeds are better than having an Email address and password which can be easily hacked.
You will just have to keep the copy of your seeds in a safe place.
Poloniex could have some problems with their website and that is the risk of keeping it there.

[Tamilson]

So far i am just usinh online wallet since I do not know how to use offline but I really want to use it since I guess it is more safer than having it on online as some stated and I believe to them too since there are lots of cons if we are using online. But for me I can easily access bitcoin in online wallet anywhere and anytime I want and even when I am.just using my phone so as long as I am connected in internet I can access to my money easily especially a local online wallet which is use only in your country

It's alright then like storing your coins at your own risk. We all know that storing all your coins in an online wallet is a risky thing. You never know when the hackers can attack you and when its get hack there's no turning back of yout coins. Well then its all up to you mate, hope over time you'll learn storing your coins offline if you like to sleep soundly at night.

[junkozane]

Storing money is good decision and i will recommend Bitcoin wallets. All said that wallets will be risky and hacked, it is foolish. Bitcoin is developed under decentralised secure system.

[DoublerHunter]

If you are talking about fiat then if i were you, i will just buy some bitcoins with my money to preserve my wealth and also get the chance to make money while i am just securing my money from the banks which is very low in interest. Bitcoin is a good way to store your money as long as you know how to secure your account.

[BillyBobZorton]

Hi,


Just wondering , is it safer to keep money at an exchange like place poloniex or kraken what not or a wallet like Electrum?

It is very neat to have it all in one place like an exchange, for example, I currently mine and use their address to deposit my earnings for bitcoin I used to give my Electrum address but now I'm thinking it's better to just keep them at one spot?

Pros and cons of one vs another?


TIA

Never trust any exchange. You don't know who you are dealing with. Numerous exchanges have fallen with their owners running with the money. This is why im also reticent to give them my real data. I dont know who is getting my data and what are they going to do with it. Given the precedents I just try to use fake names and VPN to not give them any data about me because bitcoin exchanges aren't properly regulated so it can be a mistake to give them your details along with the risk of losing your BTC.

Just buy the coins then put them in your wallet.

[bitllionaire]

Hi,


Just wondering , is it safer to keep money at an exchange like place poloniex or kraken what not or a wallet like Electrum?

It is very neat to have it all in one place like an exchange, for example, I currently mine and use their address to deposit my earnings for bitcoin I used to give my Electrum address but now I'm thinking it's better to just keep them at one spot?

Pros and cons of one vs another?


TIA

Never trust any exchange. You don't know who you are dealing with. Numerous exchanges have fallen with their owners running with the money. This is why im also reticent to give them my real data. I dont know who is getting my data and what are they going to do with it. Given the precedents I just try to use fake names and VPN to not give them any data about me because bitcoin exchanges aren't properly regulated so it can be a mistake to give them your details along with the risk of losing your BTC.

Just buy the coins then put them in your wallet.

yes that is right i also do not trust on any exchange, to me i keep my bitcoins safe in online wallet, and luckily do not find anything wrong there, i will like to continue keeping my bitcoins in  online wallets.

[Magkirap]

I keep all my bitcoins in an online wallet at different sites. All the sites just will not run. It certainly creates some inconveniences due to the large price transactions, but first I'm not wasting my coins and maybe in the future I'm going to use large transactions, and secondly after August 1 was going to solve the issue. Wait and see.

Well, I keep bitcoin in online wallet because I know that my bitcoin and money is safe and secure. In addition to that, putting in online wallet will help you to keep your bitcoin safe.However, some people and bitcoin users keep their bitcoin in offline wallet or hardware wallet that you need to install to your computer.

[Sniper150]

I keep all my bitcoins in an online wallet at different sites. All the sites just will not run. It certainly creates some inconveniences due to the large price transactions, but first I'm not wasting my coins and maybe in the future I'm going to use large transactions, and secondly after August 1 was going to solve the issue. Wait and see.

I'm also keeping and storing my bitcoin in an online wallet and I have only one wallet as of now because my account is only one also but I'm planning to make another account next time if my current account would rank up to Sr. Member. Storing bitcoin in an online wallet is risky because in that particular situation people would possibly scam because there's a lot of scammers in this world. I must suggest to store your bitcoin in the safest bank near at your place to make sure it is safe.

[Leickens]

I do prefer bitcoin wallet because with BTC wallet,there is security. It offers bookkeeping, portability and simple ways to give and receive cash.It’s rather like an online bank account, but even simpler to use. Each BTC is a unique solution to a mathematical problem, consisting of a short string of text which represents a figure. Let’s say you give someone a coin or fractional coin – the text string changes as it enters their wallet, and once a global network validates the transaction, your original coin is invalidated and the new coin becomes theirsoffer security. It offers bookkeeping, portability and simple ways to give and receive.

[sofi@]

Using online wallet is good and safe rather than holding your money inside your pocket but putting everything in one wallet account I think that would be too risky you can have multiple account online and maybe still used banks in storing/saving your btc in that sense you lessen the risk of loosing everything in an instant also if ever bitcoin value decreases at least you have transfer some of them to your bank account.

[Pleione527]

I also prefer bitcoin wallet since it's safe and very versatile it can also your way of investment  but I don't kept it on one wallet i made different account, i also buy gold and keep it as an additional investment

[Zalfa_mui]

For this moment,my money, I traded all
bitcoin for my future.. Yesterday I
keep on poloniex  but now I
keep it in to a wallet because more secure and I wait until 1 august for trading again.

[supercointeam]

bitcoin is very safe to store money now a days. its very fast to receive our money back when we want which no other money exchanges can't do now a days. it can be like a investment for our money with safe hands of bitcoin.

[Haesoo]

I also prefer bitcoin wallet since it's safe and very versatile it can also your way of investment  but I don't kept it on one wallet i made different account, i also buy gold and keep it as an additional investment

Of course its always be better if we store our bitcoin in different wallets, maybe 3-6 wallets will be fine. Much secured from getting hack.
Storing your coins in some exchange is like exposing your private key or seeds into public. Like they'll access it anytime and you don't have assurance that it will not be lose. Better be careful than losing all.

[darkangel]

Hi,


Just wondering , is it safer to keep money at an exchange like place poloniex or kraken what not or a wallet like Electrum?

It is very neat to have it all in one place like an exchange, for example, I currently mine and use their address to deposit my earnings for bitcoin I used to give my Electrum address but now I'm thinking it's better to just keep them at one spot?

Pros and cons of one vs another?


TIA

Usually, people usually say the safest place to keep money is bank. Previously when bitcoin is unknown, I also think so. I do not deny the bank's safety. But when you keep the money in your wallet is much safer, bad guys are hard to steal my information.

[Bitcoinislife09]

The safest way to store money is to put it in your own house,just think of the millionairs that didnt have bank accounts,because its the safetest way.For bitcoin you should put it to bitcoin wallets.And as the money grows you should keep it in your house

[alexsandria]

Hi,


Just wondering , is it safer to keep money at an exchange like place poloniex or kraken what not or a wallet like Electrum?

It is very neat to have it all in one place like an exchange, for example, I currently mine and use their address to deposit my earnings for bitcoin I used to give my Electrum address but now I'm thinking it's better to just keep them at one spot?

Pros and cons of one vs another?


TIA

I think the best way to save money is to put it in a very secure wallet like coins.ph or blockchain becuse if you only store your money in exchager like waves, bittrex or others it may able to go down the value and sometimes because of advnce computer it can be hacked and then it will all gone in just one snap.

[Ashong Salonga]

The safest way to store money is to put it in your own house,just think of the millionairs that didnt have bank accounts,because its the safetest way.For bitcoin you should put it to bitcoin wallets.And as the money grows you should keep it in your house

Putting in your house is not a applicable answer because the one we involve here is bitcoin and we all knoe that bitcoin is a digital currency. We must know where wallet we would store it. Like blockchain, polonoex. Like that
 But for me the safest wallet is blockchain because it has access in your mail so thay you dont need to worry.

[shamzblueworld]

Hi,


Just wondering , is it safer to keep money at an exchange like place poloniex or kraken what not or a wallet like Electrum?

It is very neat to have it all in one place like an exchange, for example, I currently mine and use their address to deposit my earnings for bitcoin I used to give my Electrum address but now I'm thinking it's better to just keep them at one spot?

Pros and cons of one vs another?


TIA

Pros of saving them at an exchange would that you'll be able to buy/invest any altcoin instantly, providing they are also present in that exchange. That is probably the only pro for this.
But cons are many, security, losing all your funds, not actually owning your money, not able to buy instantly, or send funds to someone instantly.
Recommendation would be to always save on your own wallet, and only keep that amount on funds you would like to use for trading.

[bhadz]

Why not stay on using Electrum? It is the best application for me that is really secured.
Seeds are better than having an Email address and password which can be easily hacked.
You will just have to keep the copy of your seeds in a safe place.
Poloniex could have some problems with their website and that is the risk of keeping it there.

Yes, electrum is safer than other wallets. This is the best place to store your bitcoins and as a matter of fact. I tried to send now my wallet from exchange to my electrum wallet. And this is one of my preparation for the upcoming fork this coming August 1. Web wallets aren't safe at all, you don't have the private keys and they can be offline anytime.