MikePCarr (OP)
Newbie
Offline
Activity: 53
Merit: 0
|
|
November 25, 2017, 01:22:27 PM |
|
I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.
|
|
|
|
Alphredis
Member
Offline
Activity: 201
Merit: 26
|
|
November 25, 2017, 01:29:57 PM |
|
Never Store the Bits in an exchange, if it get hacked/closed anything else your coins are lost. So the best way ist to store theme on an paperwallet or on a desktop/ledger wallet...
Alphredis
|
|
|
|
Str1x
Member
Offline
Activity: 140
Merit: 33
Buy me a beer 13mVkBy6HVwKuNovaWzYdF27FB6pLqoJtr
|
|
November 25, 2017, 01:30:27 PM |
|
|
|
|
|
HabBear
|
|
November 25, 2017, 01:37:23 PM |
|
I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.
The safest place for storage is in an offline hardware wallet. Check out what's available from Trezor or Ledger. Both are world renowned for their security. How much are you storing?
|
|
|
|
OmegaStarScream
Staff
Legendary
Offline
Activity: 3584
Merit: 6307
|
|
November 25, 2017, 01:38:23 PM |
|
An encrypted paper wallet (stored in a safe place) or a hardware wallet are the best options for long term storage.
|
|
|
|
ikecuit
Newbie
Offline
Activity: 46
Merit: 0
|
|
November 25, 2017, 01:58:25 PM |
|
A hardware Ledger wallet is best if you need to carry it around with you and you cannot store a paper wallet safely at home.
|
|
|
|
CryptoX006
Newbie
Offline
Activity: 31
Merit: 0
|
|
November 25, 2017, 03:59:24 PM |
|
I would advise using the ledger wallet. One of the safest options in my opinion!
|
|
|
|
moooonu
|
|
November 25, 2017, 04:59:58 PM |
|
Don't even try to store your coins on exchanges. Try some wallets which you have control over. Try paper wallet, ledger wallets to save your bitcoins.
|
|
|
|
darkangel11
Legendary
Offline
Activity: 2464
Merit: 1357
Don't let others control your BTC -> self custody
|
|
November 25, 2017, 05:26:06 PM |
|
Buy a hardware wallet or a device that has access to Internet via a cable, like a dedicated PC. Keep it clean and don't leave it connected for long. When you decide to use your money go online, send the transaction and go offline It will limit the window in which your computer can be accessed and your cable connection will keep you safe from possible wifi hacks. Don't get me wrong this is still an overkill in most cases, but if you're storing coins worth $10k or more it's really not a bad idea to spend $500 on a device that will allow you to sleep at night.
|
| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
|
|
|
p3rplexamous
Member
Offline
Activity: 95
Merit: 11
|
|
November 25, 2017, 06:20:10 PM |
|
I always suggest if you have a reasonable amount of money, anything over a few hundred dollars, to store via a hardware wallet. Ledger, Trezor or Keepkey make great products, however I believe Ledger Nano S's are the best and most affordable option. They also offer a great list of altcoin support and add new ones constantly and great Bitcoin hardfork support. This week they are also offering 21% discount! Check it out. https://www.ledgerwallet.com/products/ledger-nano-s
|
|
|
|
Intensity
|
|
November 25, 2017, 10:19:47 PM |
|
I always suggest if you have a reasonable amount of money, anything over a few hundred dollars, to store via a hardware wallet. Ledger, Trezor or Keepkey make great products, however I believe Ledger Nano S's are the best and most affordable option. They also offer a great list of altcoin support and add new ones constantly and great Bitcoin hardfork support. This week they are also offering 21% discount! Check it out. https://www.ledgerwallet.com/products/ledger-nano-sLedger Nano S all the way. Affordable price, good history, and easy to use. If somebody has over $1000 in crypto, I personally feel that a hardware wallet is a must have item. Plus! It makes a great stocking stuffer
|
|
|
|
Frollama
Newbie
Offline
Activity: 27
Merit: 0
|
|
November 25, 2017, 10:37:21 PM |
|
Use a cold storage wallet like Ledger NANO S
|
|
|
|
marky89
|
|
November 25, 2017, 11:09:06 PM |
|
I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.
You should definitely avoid keeping them on an exchange. A few years is a lifetime in the cryptocurrency space, and your exchange could easily be hacked and shut down during that time. Plus, trusting a third party to take custody of your BTC sort of defeats the purpose of Bitcoin, which is intended to allow you to "be your own bank." The easiest solution for a newbie is just to buy a hardware wallet like a TREZOR or Ledger Nano S. I would suggest only buying directly from the manufacturer: https://trezor.io/https://www.ledgerwallet.com/Personally, I keep my long term cold storage on an air-gapped PC. But this method of cold storage is becoming obsolete now that hardware wallets are becoming the norm.
|
|
|
|
Goosebump
|
|
November 25, 2017, 11:17:23 PM |
|
I would suggest a hardware wallet. Both Trezor and Ledger are very user friendly and even the most novice of crypto investors can manage their way around them. I believe the Ledger is actually on sale right now for Cyber Monday so this might be a great time to grab yourself one. Trezor : https://shop.trezor.io/Ledger Nano S : https://www.ledgerwallet.com/products/ledger-nano-s
|
|
|
|
ItBeginInAfrica
Member
Offline
Activity: 120
Merit: 11
|
|
November 25, 2017, 11:17:52 PM |
|
I store my bitcoins in blockchain.info and never have a single problem
|
|
|
|
ToTheMoon$
Member
Offline
Activity: 77
Merit: 10
Investor on the move ~ Where's the profits???
|
|
November 25, 2017, 11:18:32 PM |
|
I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.
Try to buy a ledger nano, these are the best nowadays.
|
What should I invest in? PM me with your thoughts! Thanks
|
|
|
kuroman
|
|
November 25, 2017, 11:48:24 PM |
|
The safest way is cold storage, on a separate laptop/hard drive encrypted, or even paper note, Trezor and Ledger are mentioned by others are really good. it all depends on the amount you have and how often you use it, a combination all above is the best thing you can do, + a Hot wallet with small amount transaction such as Bitcoin.info for example with a strong password obviously.
|
|
|
|
aardvark15
|
|
November 26, 2017, 12:56:43 AM |
|
I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.
I don’t fully trust any online exchange with Bitcoins especially the ones that control your private keys. I would only put Bitcoins or altcoins on those exchanges for trading and even then I would only put a small portion of my coins there. The safest place to store Bitcoins or altcoins is in an offline wallet. I like using paper wallets myself but any offline wallet is probably good since you basically have full control of the private keys and theoretically no one else has access to them.
|
|
|
|
fredamankus
Newbie
Offline
Activity: 20
Merit: 0
|
|
November 26, 2017, 09:50:59 AM |
|
A friend of mine told me the safest way to store your valuable bitcoins is the hardware wallet such as the Nano ledger.
|
|
|
|
YinShuiSiYuan
|
|
November 26, 2017, 04:33:19 PM |
|
A friend of mine told me the safest way to store your valuable bitcoins is the hardware wallet such as the Nano ledger.
Cause that is true, exchanges are the weakness possibilities to store coins cause they are the easiest to lose them so hardware is best option.
|
|
|
|
|