stevanprice (OP)
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November 16, 2017, 02:48:46 PM |
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Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...
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OneSortieMan
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November 16, 2017, 02:53:22 PM |
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which wallet do you use?
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Sophiea
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November 16, 2017, 02:57:41 PM |
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It is good when you save your bitcoin in your wallet like I stored it to coins.pH and anytime i need to withdraw in case of emergency I convert it to peso and transfer to my bank account.
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Svelto
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November 16, 2017, 02:57:44 PM |
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For storing Bitcoin long term, it is recommended to store in a paper or hardware wallet. It is not so safe to store in exchanges and online wallets. The reason is because you don’t control the private key account. If anything happen to the exchanges or online wallet, you will lose your coins. Better be safe than sorry.
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Taranscorp
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November 16, 2017, 03:00:10 PM |
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+1 to use hardware or paper wallet for long term storing.
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OuterTech
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Tokenize Fantasy Sports
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November 16, 2017, 03:02:35 PM |
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It'll be fine if your wallet is set up enough 2 factor authenticator. But for long term investment I think you should keep your Bitcoin in cold storage wallet like trezor or ledger nano s, they are the safest wallet at the moment.
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jvdp
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November 16, 2017, 03:06:22 PM |
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Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...
Bitcoin is stable for long time. This is one of the best cryptocurrency. In future many altcoins are developed in market. So Bitcoin value is fall or raise whatever will happen in market. You should save your money in wallet is okay. But you should exchange or sell in right time. Because it goes in complete fall you may suffer. |
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BitNoLimit
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November 16, 2017, 03:07:32 PM |
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make sure your wallet is secure
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susila_bai
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November 16, 2017, 03:09:41 PM |
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Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...
Saving bitcoin in wallet is a good advice but which wallet you are telling is not clear. If you are saving the bitcoins in online web wallet then it is not secure as You dont have private key for the web wallets, so it is better to use desktop wallet like Electrum where you are in control of the private key of all address. And electrum is very easy to use, it is very lite and secure to use it. |
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stevanprice (OP)
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November 16, 2017, 03:12:35 PM |
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For storing Bitcoin long term, it is recommended to store in a paper or hardware wallet. It is not so safe to store in exchanges and online wallets. The reason is because you don’t control the private key account. If anything happen to the exchanges or online wallet, you will lose your coins. Better be safe than sorry.
thanks for the suggestion, yes i agree with the save in the paper or hardware wallet, but is it later when there is damage in this wallet is there any way to overcome it? because the paper is more vulnerable damaged .. please advice again Thanks |
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turkmachiavelli
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November 16, 2017, 03:15:43 PM |
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Everyone say different things in these days so I don't give advice you but I think Bitcoin will never end There always will be crypto money because Internet is in everywhere and we work in internet so we need btc or some crypto money.
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Palmholder
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November 16, 2017, 03:16:17 PM |
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What kind of wallet you mean? If you mean online wallet, better go for blockchain.com, but if you want to get more security for your private key, which lets to manage your coins, then go for hardware. I prefer to use Bitcoin Core node at offline laptop. There are many different options by the way, Ledger/Trazor wallets seems to be the most secure but it costs. As an alternative you may run bitcoin node on external hard drive or use a paper wallet, all depends from your aims
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maman09
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November 16, 2017, 03:16:35 PM |
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For storing Bitcoin long term, it is recommended to store in a paper or hardware wallet. It is not so safe to store in exchanges and online wallets. The reason is because you don’t control the private key account. If anything happen to the exchanges or online wallet, you will lose your coins. Better be safe than sorry.
I a gree with you. better keep it in a safe place like a hardware wallet. many possibilities can occur if saving with long time in exchanges. to make sure it's safer, true what's said @Svelto |
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paolo099
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November 16, 2017, 03:19:18 PM |
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hardware wallet is a must if you want to store your BTC for long time, like everyone already told you, you don't own your BTC unless are stored in a wallet where you own the private key.
Just don't be like couple of guys i've read on this forum who lost his passphrase/password and whatever is needed to get access to your wallet, you will lose everything if you forget your password and it's hardly recoverable.
paper wallet, if properly stored and covered in plastic paper are safe but have to be kept in a safe place waterproof/fireproof because, all in all it's still paper.
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Marrionbitcoin
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November 16, 2017, 03:20:34 PM |
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Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...
In my opinion, it is ok to save bitcoin on a wallet but not for too long like for a 3 to 4 weeks or more because your money would be idle or wasted instead of earning interest or investing it in Bitcoin trading. Just wait for the perfect timing to buy Bitcoin and read the forecast so that you can make plans.  |
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farhan28
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November 16, 2017, 03:28:39 PM |
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Saving Bitcoin in a wallet is a good decision..because if you keep the bitcoin it will increase with the increase of value of bitcoin...but it shold be remember that it should be keep into paper or hardware wallet..because you don't carry the private key..
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BTCeminjas
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November 16, 2017, 03:29:04 PM |
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Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...
Saving and investing for long term with bitcoin and just save in the crypto wallet it depends upon the wallet you I strongly recommend that use hardware wallet or white paper wallet to store your bitcoin and don't give your secret key to other to avoid scam. |
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marcuslong
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November 16, 2017, 03:30:02 PM |
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Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...
It is good when you are earning profit and then save them in your wallet but f you just buy bitcoin and wait for the price to increase its risk because some of traders are selling their coins and wait for the price to dump and buy again if you dfollow the flow maybe you will get another profit from there but the transaction fee is a little awful but when you trade it into alternative xoins and esrning then saving is really good |
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Xenrise
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November 16, 2017, 03:35:36 PM |
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We people have fear on long term trading specially this reason. Well, for you to long term your investment, you must check your wallet accordingly. So that you can see how it goes inside your wallet. Whether it still there or not. Making sure of possibilities is the key for this.
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sofi@
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November 16, 2017, 03:40:31 PM |
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So far I haven't heard any news about on-line wallets taking savings that are idle for a long period so I guess it is safe if you want to keep your bitcoins in your wallet just pick the best wallet that you truly trust. You can also try to get some paper wallet with that you cab have an assurance that your bitcoin will not be gone and stole by someone it's quite expensive but it's worth it.
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