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Author Topic: What is the best (safest) way to store BitCoin for the longer term?  (Read 712 times)
Netnox
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September 05, 2017, 01:33:21 PM
 #21

So that I can start researching in the right area, I plan to buy BitCoin here and there as I can afford it, and I do not plan to sell or use it.   Is there a way to move it offline, either by printing something, a card, or something else that would make it super super secure (provided the physical info is in a safe place).  I read so many posts about people having stuff stolen over the years, or exchanges getting hacked or going broke, and since I don't plan to use or sell it, what would be the uber-safest solution?  I don't mind if it's complicated, or a harder thing to do, once I know it's the right option, I will take the time to learn how to do it.


Thanks in advance! 

I would go with hardware wallets, especially Ledger Blue or Trezor. They are the safest wallets as of now, and it is quite easy to take the backups and store them. And has anyone ever heard about coins getting stolen from hardware wallets?

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September 06, 2017, 07:28:43 AM
 #22

Desktop/hardware wallet is best solution for you.You can store your bitcoin into your desktop/hardware wallet,its safe and secure instead of on-line or other wallet. You can see here: https://bitcoin.org/en/choose-your-wallet you will get all of wallet details there.just read them and chose which one you want.
There are many options to keep your bitcoin safely. One of the safest ways to store your bitcoin from stealing and hacking is that you should keep all the bitcoin in your hard cold mining pocket and not in the soft. Although the soft wallets are also very safe but by this way you will be more secure and there will be tension of stealing and hacking and you can also use it very easily and comfortably without any obstacles and hurdles.



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September 06, 2017, 08:27:57 AM
 #23

Hardware wallet is the best to store your bitcoin but you need to buy the device and it's a little bit expensive. But there's one wallet that most likely a hard wallet it's the PAPER WALLET.

So what's a paper wallet?

A paper wallet is a document containing all of the data necessary to generate any number of Bitcoin private keys, forming a wallet of keys. However, people often use the term to mean any way of storing bitcoins offline as a physical document.

Advantages: The advantages of paperwallet is that you hold your private key and not stored online. Because if you place it to online wallet and the company gets hacked your bitcoin may hack too.

Disadvantages: If you lose the paper wallet. You will lose your bitcoin too.

You can try this site: Bitress.org

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September 06, 2017, 09:03:55 AM
 #24


The way I secure my Bitcoin almost ensure only I, and my family members know how to unlock my funds. I create a my own Bitcoin address and print it out as a paper wallet. I print three or four copies of it and laminate them. I have different spots that I trust and I know are secure and safe and store these paper wallets at these locations.

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September 07, 2017, 12:19:51 PM
 #25

Maybe storing bitcoin for a long period of time is a good idea and you are securing your future. The advantage of storing bitcoin for a long period is bitcoin is simultaneously increasing it's value. There a fluctuation of value but the rising of it's value is time to time.
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September 07, 2017, 12:27:41 PM
 #26

I'm not saying that I am the ultimate truth, but it seems to me that the people themselves create problems. Any physical media can break or get lost. Then you won't be able to access their bitcoin. I think it is safer to keep money at trusted electronic wallets parts.

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September 08, 2017, 04:31:41 AM
 #27

I actually do not know as I only know and familiar with one wallet. Which is the coins.ph. And I think there are a lot more wallets out there that I need to try because a lot of my friends are telling me about it. But what I liked about coins.ph as aside from being a wallet, I can easily convert my Bitcoins to pesos and use that to pay for the bills from coins.ph itself. Also, it has different ways on how to cash out money, my favorite one is through bank transfer.

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September 08, 2017, 04:35:41 AM
 #28

Hardware wallet would be the safest to store bitcoin for the longest time in my opinion because you get to manipulate and keep your private keys and only you would know them.

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October 19, 2017, 05:14:47 AM
 #29

I should add this is the single greatest thing from getting folks to buy in.
Years ago I dabbled, kept my money on an exchange but when mount GOX happened I panicked. I had my stuff held on a Canadian exchange but that scared me badly.
If I buy in again I want to be able to pull funds onto a USB key. Anyone do that?
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October 25, 2017, 09:42:55 AM
 #30

The safest way for me in keeping bitcoins is think like you're keeping a valuable item and must always keep it secure. That includes the device where you keep your bitcoins, to have it stolen will spell a great loss on your end. Also avoid providing information which is also associated to your bitcoin account. Also the best option is to keep quiet about having bitcoins. It’s a sure fool proof way of hiding anything valuable that you have.

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October 25, 2017, 10:17:35 AM
 #31

The majority of people are saying that a more secure wallet is that you place your wallet because they've experienced how secure you are to their proposal. I'm absolutely sure that the coinbase is secure as well because my bitcoins are not missing and I often use an ether wallet and what most people suggest is that I'm also safer because they have the experience they are using.

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