Pros and cons of Wallet.dat and Priv Keys

[vroom]

Right now I use a encrypted wallet.dat which I save on multiple places. But I want to upgrade to ledger nano s and cryptosteel.

[Kakmakr]

Any method where you only have to expose your private key once, online. This is why I like paper wallets. Nobody can access your bitcoins online, until you sweep them from the paper wallets and once this is done, the private key is not used again. I have 1000's of paper wallets and use them for different things. I also split my bitcoins over 100s of wallets into smaller quantities. { If I need say 0.5 BTC, I do not have to sweep a wallet with 5 bitcoins to access 0.5 BTC }

You should be the only person controlling your private keys.  ^hint^

[BossBee]

I prefer both. If I am away with my laptop I can still somehow get my private keys in my email then just delete it.
Actually this is one of my problem now.
My laptop got broken and is now at the repair shop.
I am scared that the man who will repair it might see my private keys and wallet.dat also my accounts are auto lo ins.
I changed all the passwords and trying to send all my funds at a different location now just using my phone.
He needs 3 days to repair the laptop which makes it more scary. I hope he doesn't know a thing about bitcoin.

Whoa Exposed priv Keys on the web is super high risk. You would definitely want to use an encrypted email service for that, even then I would never do that personally. 

[Eric Cartman]

You never know if you wallet.dat is corrupted until you need your backup.

Would you like to risk everything because your wallet.dat is corrupted?

[BossBee]

Any method where you only have to expose your private key once, online. This is why I like paper wallets. Nobody can access your bitcoins online, until you sweep them from the paper wallets and once this is done, the private key is not used again. I have 1000's of paper wallets and use them for different things. I also split my bitcoins over 100s of wallets into smaller quantities. { If I need say 0.5 BTC, I do not have to sweep a wallet with 5 bitcoins to access 0.5 BTC }

You should be the only person controlling your private keys.  ^hint^

That's pro, sounds time consuming tho.

If you have deposits sent to multiple addresses in a single wallet, each one of those addresses carries its own priv key for just that amount you deposited right?  

[Herbert2020]

Any method where you only have to expose your private key once, online. This is why I like paper wallets. Nobody can access your bitcoins online, until you sweep them from the paper wallets and once this is done, the private key is not used again. I have 1000's of paper wallets and use them for different things. I also split my bitcoins over 100s of wallets into smaller quantities. { If I need say 0.5 BTC, I do not have to sweep a wallet with 5 bitcoins to access 0.5 BTC }

You should be the only person controlling your private keys.  ^hint^

you never "have to" expose your private keys online, ever. everything can be done 100% offline.

- you create the private keys offline using any wallet or even the famous bitaddress
- you print it offline and keep it on paper.
- you sign the transaction (by the time you wanted to spend) offline too.

this way, your private keys are never "exposed". they remain 100% offline at all times. and creating an unsigned transaction online and transferring it to your offline system to sign with the keys is not at hard hard or complicated.

[Ctn]

What is everyone's preferred  method of backing up your wallet and why?

I'm very cautious person about storing my private keys. I will generate at least five to six copies of my public ID and private keys. Then I will store them securely with my email address, I will take a printout and I will also send it to my all devices in the locked notes etc, this is very critical job and loosing private keys is like loosing all your assets. That's very important.