What is the best way to store your bitcoins?

[Arumi.Bilqis]

I keep bitcoin in my wallet online and this I do because sure security is guaranteed the most important thing is to be careful in the confidentiality of the pin and if after opening it or after the transaction we have to clean everything we do on the computer and also do not let anyone know about pin us.

[romec1701]

The main thing is always to have possession of your private keys and never give them to anyone.
Exchanges dont give you this control for the most part, also online wallets have varying degrees of security. Some are multi-sig which means you have control but many aren't.

Personally I felt that the cost of a hardware wallet was justifiable for the additional security it gives.

[1Referee]

I keep bitcoin in my wallet online and this I do because sure security is guaranteed

Who told you that? As long as you aren't the sole owner of your private keys, which means that you allow someone else to take care of them, your coins can never be secure. It's quite shocking that people actually think like this, it isn't only dangerous, but it also shows the stupidity of the general person here in this forum.

the most important thing is to be careful in the confidentiality of the pin and if after opening it or after the transaction we have to clean everything we do on the computer and also do not let anyone know about pin us.

No matter how much effort you put into trying to work as secure as possible, you still depend on a third party to take care of your coins, and that's exactly where a problem forms. You don't know how that party is storing your coins, you don't know what happens if someone of their employees, or perhaps the operator himself acts when he has financial problems, etc. After the dangers from inside, there are the regular external dangers such as hacks. Do something to understand what it actually means to have a third party have full control over your coins.

[admissions]

blockchain.info or any web wallet isn't the way to go. You are relying on a website to stay up and if it goes down then you could potentially be screwed. Use desktop wallets at the very least and if you can afford a Trezor do it. It will be the best investment you make.

[JayJuanGee]

blockchain.info or any web wallet isn't the way to go. You are relying on a website to stay up and if it goes down then you could potentially be screwed. Use desktop wallets at the very least and if you can afford a Trezor do it. It will be the best investment you make.

I agree with your point that all coins should not be stored on blockchain.info, but not really for the reasons that you state.

Blockchain.info does not have your private keys, so you are able to save a backup of your wallet, in case you need to get access to your blockchain.info coins through another service.   Blockchain.info is currently using the 12 word seed for such alternative access.

I usually keep a small amount on blockchain.info in order to be able to quickly and easily transact with anyone or even to have emergency funds that I could access if I am out and about and I can get the coins through the blockchain.info app on my phone.  Recently, I have been limiting my amount to less than .5 BTC; however, I am thinking that with recent price rises, I may have to lower my "carry around" limit even more.  Maybe .2BTC would be sufficient - but if I am going on a trip, it may be better to have up to .5BTC to be able to access... These are ongoing questions that can come about with changes in prices and changes in security features that are contained in various wallet options (including the ability to hide some of your balance by archiving some of the addresses).

[kkent]

Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.

Cold storage doesn't always require purchasing hardware. If you make a "paper wallet" you can do it for fairly cheap, you could then laminate it and stick it in a safety deposit box. You could also make a more "substantial" wallet if you have access to an air-gapped laser cutter. You could engrave it into a metal sheet and then place it in a folder to prevent other people from seeing it and then place that whole packet into a safety deposit box. This method would also allow for a bit more durability and general survivability. The odds of a bank robbery are incredibly low, but you could also disguise your key in a method of your choosing before recording it. For example, a typed page that looks innocuous unless you know how many words to count over on could hide your key from even someone who is staring at the page AND knows that your key is hidden in the writing.

[jekjekman]

Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.

This is also one of the question that I have, I'm wondering if I can just print the seed to a paper and delete my computer wallet every
time I am not using it to be safe. I heard of a hardware wallet  but wondering if what will happen to it when you lost the hardware
itself or what if it is broken is it possible to retrieve the wallet back? Paper wallet might be the best wallet to have since it is a hard
copy as long as you keep the paper it is impossible to steal it from you.

[di.ako.toh]

I think the best way is to hold it in your bitcoin wallet and make at least a monitoring of exchange rate in buying and selling. Just holding the bitcoin can have a higher returns if it sell in a higher price.

[StockBet.com]

Electrum offline wallet.

[Spendulus]

I keep bitcoin in my wallet online and this I do because .....

Please correct this problem.

[Fireblade]

I think the best way is to hold it in your bitcoin wallet and make at least a monitoring of exchange rate in buying and selling. Just holding the bitcoin can have a higher returns if it sell in a higher price.

The best to store my bitcoin is blockchain wallet because I do not trust any other wallet due to the security and authentication. For me only blockchain is trustable and reliable. Keep your bitocins in blockchain wallet and swait for some time and do not use or spend them if you do not need and when the price go up more then you can use or sell your bitcoin using your blockchain wallet.

[HarryKPeters]

I think the best way is to hold it in your bitcoin wallet and make at least a monitoring of exchange rate in buying and selling. Just holding the bitcoin can have a higher returns if it sell in a higher price.

The best to store my bitcoin is blockchain wallet because I do not trust any other wallet due to the security and authentication. For me only blockchain is trustable and reliable. Keep your bitocins in blockchain wallet and swait for some time and do not use or spend them if you do not need and when the price go up more then you can use or sell your bitcoin using your blockchain wallet.

Any wallet where you hold your own keys is secure.

However cold wallet strorage is by fare the safest way to store your bitcoins. If you don't need them for trading i can recommend this.

[silent17]

Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.

If you dont want a cold storage because of its cost and also doesn't wanted it in some exchange, you can also use online wallet like blockchain and coinbase, i also hear someone using freebitco.in to store there BTC because everyday he will received an interest by simply storing his bitcoin their which i think its a good idea, because if your not gonna use it, its better to stock it on a website where you can gain interest by simple storing it

[rodel caling]

stored your bitcoin in the multifull wallet and put the hard privatekeys to secured your bitcoin from the hackers, storing in the different wallet is the best idea to secured your bitcoin if one of your wallet hack you have one more wallet for your bitcoin if store in one wallet all your bitcoin have possibility lost your all investment if your wallet got hack.

[darklus123]

The best way for it to do so is to have a mind set. A very strong mindset actually to do it. Why? Yes maybe yoy have the mindset but if it is not strong enough then everything will be useless when have already changed your mind. Saying that you will always be saving amounts in your storage is really easy but it is really hard to do so if you dont have a strong mindset

[andthereyou]

Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.

If you dont want a cold storage because of its cost and also doesn't wanted it in some exchange, you can also use online wallet like blockchain and coinbase, i also hear someone using freebitco.in to store there BTC because everyday he will received an interest by simply storing his bitcoin their which i think its a good idea, because if your not gonna use it, its better to stock it on a website where you can gain interest by simple storing it

I think coinbase is an exchange with bad reputation. Coinbase is not secure because it's an exchange. I read one thread in this forum that a lot of customers account got hacked.
For free and secure wallet use online wallets with keys.

[chickenado]

The best way for it to do so is to have a mind set. A very strong mindset actually to do it. Why? Yes maybe yoy have the mindset but if it is not strong enough then everything will be useless when have already changed your mind. Saying that you will always be saving amounts in your storage is really easy but it is really hard to do so if you dont have a strong mindset

I agree on your point of view. As for me,In oder for me to store my bitcoins safely,I have to change it into a real money which is the physical money or we call it as fiat. I definitely like tp store it in a wallet first that is of course a digitized money from bitcoin. It is true that saving is very hard to do but if you have determination in saving your money as well as bitcoin,there's no problem with that and it's a good discipline to not spend things which are not inportant. So from the exchanging real money from bitcoin,I store it in my vault or in the bank. Through these,I can store my bitcoin into cash in the best way I can.

[SureLockLoans]

Cold storage is the best way no matter in you are daily trading or holding for the long term. Cold storage is the safest and should only be accessed when needed and a new cold storage should be created when you have accessed the previous one.

[dead_m92]

If you are going to be a daily trader, then keep your coins on your exchange, this is the best way that you can store them because you will not have to move your coins everytime that you want to buy/sell a coin.
If you are not going to trade, then keep your coins on your wallet, if you have an offline wallet, then it is much better because you know that you are never going to be hacked, so you are going to be much more safe than holding them on a exchange.

[Darker45]

Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.

It is definitely not the safest way to store coins. Be cautious when it comes to exchanges because you are actually entrusting your coins to them. You are not the one holding or owning the private key or pin codes to your coins if you are storing them in exchange sites. A cold storage is the best but if you are only saving a single bitcoin perhaps you will have to trust some other online wallets temporarily.