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longpro098
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November 16, 2017, 03:43:00 PM |
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If you have saved it in your wallet then there is no risk. Once in your wallet, it will be there safely. Who can get the coin stored in your wallet? so please rest assured
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November 16, 2017, 03:48:10 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...
I would advise to use the strategy of 50:50 method. If you are doubting and still undecided that you are wanted to take risk or not, this 50:50 method could help you. This is how it is, saved 50% on your own wallet and 50% to for investment this both is for a long time period that you are really wanted. We all know that the result is at the end, when you gained income to your long term investment be glad and feel blessed BUT if your money wont back even your 50% investment still be thankful because you still have 50% money left at your wallet. |
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aardvark15
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November 16, 2017, 04:09:06 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...
As long as it is an offline wallet or paper wallet where you hold the private keys, I don’t see how there can be any risk. If you have the public and private keys and no one else has them, your Bitcoins will always be secure. There’s almost no way for someone to just guess your private key unless you don’t secure it properly. I would keep the private keys in a safe deposit box as a hard copy. |
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SangkuniBird
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Activity: 108
Merit: 100
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November 16, 2017, 04:15:38 PM |
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You should understand the different types of services designed to save your money online. Many online redpads and wallets have experienced security leaks in the past. In general they still do not provide certainty and security adequate to be used as a means of storage like a bank. We recommend you use other Bitcoin wallet services. If not, you should choose this type of service more carefully. In addition, it is strongly recommended to choose a service that uses two-factor authentication
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FrankNoland
Copper Member
Sr. Member
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Activity: 560
Merit: 253
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November 16, 2017, 04:26:53 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...
I just assume that it will depend on the kind of wallet that you use, its very rare that wallet developers can just decide to shutdown their operations and go away with people's investments. However, I guess you just have to ensure that the wallet is secure enough and you have control of your private keys. I personally think that there is too much risk if you will be storing your bitcoin on an online wallet for long term. If you are willing to hold on to your bitcoin for long term, rather buy yourself a hardware wallet or rather use a desktop wallet instead. |
Digital asset exchange for settlement, clearing, custody and trading of various digital assets, utilizing distributed ledger technologies, programmed on the blockchain -https://bex.global
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mobnepal
Legendary
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Activity: 1218
Merit: 1006
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November 16, 2017, 04:27:46 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...
Yes it will be risky if you will store them in some of the centralized bitcoin wallet like coinbase and xapo. Either use paper wallet or hardware wallet like trezor, ledger to store your bitcoin for long term, we have seen many scam bitcoin web wallets before so be careful when choosing web wallets to use as hot wallet. |
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Caesar-Giulius
Sr. Member
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Activity: 728
Merit: 250
Buy, sell and store real cryptocurrencies
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November 16, 2017, 05:59:35 PM |
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Yes, there are risks when you store your BTC in an online wallet, third party wallet and exchanges. The account might be hacked or the exchanges close down and run away with your coins.
It is better to use a paper wallet or hardware wallet. In this case, you really own the coins since You own the private key.
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Drnice
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November 16, 2017, 07:34:29 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...
When it is for a long term store, it is more advisable to use a hardware or paper wallets, where you are in full control of the activities done. If it's an online wallet, it can't be fully trusted cause you are not fully in control of your coins. |
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Raju Ahammed
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November 16, 2017, 07:36:02 PM |
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it's a bigg risk i think . i just say don't have to save any online wallet your bitcoin .it will be harmful for you.thank you.
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Chibykesman
Member
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Activity: 70
Merit: 10
Interested in bitcoin
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November 16, 2017, 07:38:01 PM |
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It is good saving your bitcoin in your wallet, it is like saving your money in a bank whenever you want it you go and withdraw it, so your wallet is like that too. But do not expose it.
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Yaunfitda
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November 16, 2017, 07:41:31 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...
When it is for a long term store, it is more advisable to use a hardware or paper wallets, where you are in full control of the activities done. If it's an online wallet, it can't be fully trusted cause you are not fully in control of your coins. For long term a hardware or paper wallet is the best options. For any other activities, a wallet like Electrum, which gave you total control of your private keys and the ability to adjust fees plus the security you can have is most trusted. It good to store a few bitcoin in a trading exchange, but just for your trading purposes only and don't put everything in there. |
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TianaStam
Member
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Activity: 218
Merit: 12
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November 16, 2017, 07:45:37 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...
You simply can forget your logins and passwords with time or just loose it. In the case if you plan to hold your coins for long I advice you to take care about all those staf to get the wallet and your founds available to you. That is my advice. |
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avikz
Legendary
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Activity: 3122
Merit: 1507
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November 16, 2017, 07:46:41 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...
I don't not see much risk in saving your bitcoins in a wallet for longer term unless there is a hacker attack. But try not to keep the bitcoins in an online wallet like coinbase or blockchain. Their policies keep changing and you may to be aware of such policy change if you are planning to keep your bitcoins for longer term. Instead try to use offline wallet like Electrum. Just download and install the wallet. You don't need to download the entire blockchain with electrum wallet as it is connected to a central server where blockchain is being downloaded. So whenever you open that wallet, it connects to the blockchain and whenever you close it, it gets disconnected from the online server. It's safe and you will have access to your private key as well. My recommendation is Electrum wallet. |
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mintomia199
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November 16, 2017, 07:51:16 PM |
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first thing is security.as long as your wallet is secured there will be no problem with your bitcoin.you can hold as long as you want.but you need to aware of your security issue and the phishing issue.
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Jmesser80
Member
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Activity: 67
Merit: 10
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November 16, 2017, 07:51:58 PM |
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I picked up a Ledger Nano S for this purpose. Heard good things about it and it is able to hold BTC and many other altcoins as well.
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stevanprice (OP)
Newbie
Offline
Activity: 40
Merit: 0
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November 20, 2017, 02:29:59 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...
I don't not see much risk in saving your bitcoins in a wallet for longer term unless there is a hacker attack. But try not to keep the bitcoins in an online wallet like coinbase or blockchain. Their policies keep changing and you may to be aware of such policy change if you are planning to keep your bitcoins for longer term. Instead try to use offline wallet like Electrum. Just download and install the wallet. You don't need to download the entire blockchain with electrum wallet as it is connected to a central server where blockchain is being downloaded. So whenever you open that wallet, it connects to the blockchain and whenever you close it, it gets disconnected from the online server. It's safe and you will have access to your private key as well. My recommendation is Electrum wallet. steady ,,,,,, thanks for the suggestion i will try to learn it. while this I just know some kind of wallet only and that too do not know the advantages and disadvantages where ... I will try to learn from what friends have to say. |
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Bakemat
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November 20, 2017, 02:35:06 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.
Yeah it is good that the Philippines made an online wallet like coins.ph that accepting bitcoin and convert bitcoin into our money country. It is one og the most trusted wallets in our country. And like you said if you have emergency it is a less hassle because the coins.ph is enough to convert the bitcoin into our money country |
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webtricks
Legendary
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Activity: 1918
Merit: 1728
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November 20, 2017, 02:44:52 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...
All you need is single line of private key and you can store your BTC for as long as you want. Use BitAddress to generate paper wallet. https://www.bitaddress.orgAnd send Bitcoins to public address as generated, that's it. You will be credited with all future forks happpen during your holding time. With zero risk, you can redeem Bitcoins whenever you desire. |
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BlackPanda
Legendary
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Activity: 1414
Merit: 1001
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November 20, 2017, 02:47:39 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.
Yeah it is good that the Philippines made an online wallet like coins.ph that accepting bitcoin and convert bitcoin into our money country. It is one og the most trusted wallets in our country. And like you said if you have emergency it is a less hassle because the coins.ph is enough to convert the bitcoin into our money country It is a good innovation because then we can exchange and also withdraw easily. but it must be questioned whether the place is safe to store the Bitcoin we have. because I think a safe wallet is a wallet that has private keys. a local exchange company is quite trustworthy, but what if there is a hacking of the website. it could be that all bitcoins from all registered users can disappear easily. I may still give some options that is when we want to store Bitcoin in large quantities then the offline wallet can be an option and when we want to do exchange and transfer with high mobility then web wallet can be an option. |
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ajmapalo22
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November 20, 2017, 02:51:46 PM |
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So far wallet are good place to keep our bitcoin, if it is properly encrypted I don't anyone can hack your wallet and steel your bitcoins but if you have many bitcoin now I suggest you buy an offline wallet because this is surely a safe place you ca also try investing in other alts so you can maximize your earnings and may have a chance to become an instant millionaire if you are lucky with trading.
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