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Author Topic: What is the best (safest) way to store BitCoin for the longer term?  (Read 971 times)
PX-Z
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March 09, 2018, 01:52:10 PM
 #41

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! 

You can use a hardware wallet to store your cryptocurrencies, this is the best and safest wallet that you may use to store you crytos specially bitcoin, and also the most recommended of all long term holders. It's quite expensive, but it's worth it and you will not regret of choosing this wallet.

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March 09, 2018, 02:41:30 PM
 #42

Wow, that does sound like a Web of passwords. I can see your intention but that seems a little excessive withe encrypted RAR files.

I was using the Truecrypt example as it's a reasonably user friendly method that is free and works for all coins/wallets.

Hardware wallets are deffinatly the best for usability however not every coin is supported yet. I'm looking out for when someone makes one that supports Monero (I don't think they're far off ). It's deffinatly easier to spend coins using a ledger or treezor, but if you just hodl then Truecrypt will do.



Yes Monero is not supported but it is on the Ledger Todo list, so hopefully it will be too.

You know, I needed three levels of passwords because I was the guardian of bitcoins for a number of siblings and I wanted to distribute the passwords so no group of them could cheat me Smiley but on the other hand, if something happened to me, I wanted them to be able to retrieve founds.

Now I think that it was totally useless and excessive Smiley

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