SargeR33
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Activity: 112
Merit: 10
★Bitin.io★ - Instant Exchange
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December 24, 2014, 04:59:05 AM |
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Can someone point a noob into a good path for protecting my BTC? I currently use Bitcoin Wallet QT or what ever its called. I have backups across all my drives and 2 USB drives.
In the event my drive fails, do you just restore wallet.dat into the BTC directory?
How do I achieve a hard copy backup(paper)? Do you need to create a paper backup every single time your balance changes? Do you need to create a soft copy backup everytime your balance changes?
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keithers
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Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
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December 24, 2014, 08:42:33 AM |
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Have yet to buy bitcoin. Whats the best way to move usd from my bank to a bitcoin wallet? I use blockchain
Coinbase as far as I know allow you to buy BTC using your bank account . (coinbase is a online wallet just like blockchain.info) I believe coinbase will be the easiest if you want to store btc and usd on the same website. I wouldn't recommend leaving that much btc there in case the site somehow goes sideways |
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amytat
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Activity: 28
Merit: 0
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December 24, 2014, 08:55:27 AM |
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i use multibit and blockchain , this is enough to keep and trading  |
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jaberwock
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Activity: 2744
Merit: 1127
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December 24, 2014, 09:12:25 AM |
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I use bitcoin qt. For security reasons.
If I want something fast and not so secure I use blockchain or other trusted online wallet or exchange, so no need to use one of the heavy wallets
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newIndia
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Activity: 2226
Merit: 1052
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January 07, 2015, 09:37:51 PM |
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I use bitcoin qt. For security reasons.
If I want something fast and not so secure I use blockchain or other trusted online wallet or exchange, so no need to use one of the heavy wallets
Did u mean Bitstamp ?  |
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coinpr0n
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March 17, 2015, 04:31:23 PM |
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MultibitHD is looking really good. I installed the Beta and it's just what I'm looking for with HD wallets and a much improved design. Think I'll be using it more in the future.
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nioc
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Activity: 1624
Merit: 1008
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March 17, 2015, 04:36:53 PM |
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Electrum has recently released a new version 2.0
It has a lot of improvements and is still easy to use.
I have two wallets and the one with the most coins which is just for hodling isn't even on my computer. I have the seed written down and it is in 3 secure locations so that I can access them anytime or if something happens to me they will not be lost on the blockchain.
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BitcoinExchangeIndia.com
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March 17, 2015, 04:51:15 PM |
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Electrum has recently released a new version 2.0
It has a lot of improvements and is still easy to use.
I have two wallets and the one with the most coins which is just for hodling isn't even on my computer. I have the seed written down and it is in 3 secure locations so that I can access them anytime or if something happens to me they will not be lost on the blockchain.
Is not Electrum dependent on a central server ? |
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Jace
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March 17, 2015, 04:56:30 PM |
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Mycelium (Android) and breadwallet (iOS). By far the two best wallets currently in existence.
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Feel free to send your life savings to 1JhrfA12dBMUhcgh85wYan6HL2uLQdB6z9
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riceberry
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March 17, 2015, 05:23:21 PM
Last edit: March 17, 2015, 05:34:20 PM by riceberry |
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I have mine in a brain wallet, so I don't have to worry about any files
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JaredStein
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March 17, 2015, 05:38:25 PM |
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Just started using Blockchain.info and BitcoinQt. Very simple, same, and easy to use.
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BitCoinDream (OP)
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Activity: 2394
Merit: 1216
The revolution will be digital
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March 17, 2015, 06:02:08 PM |
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I have mine in a brain wallet, so I don't have to worry about any files
Transfer your funds out of brain wallet as quick as possible. It is not secured at all. Try paper wallets for cold storage... |
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Twipple
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March 17, 2015, 06:06:17 PM |
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I have been using multibit. Would like to shift to bitcoinqt, but since I don't have a lot of coins for now. Going to stick to multibit.
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BitcoinExchangeIndia.com
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March 17, 2015, 10:15:06 PM |
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Can someone point a noob into a good path for protecting my BTC? I currently use Bitcoin Wallet QT or what ever its called. I have backups across all my drives and 2 USB drives.
In the event my drive fails, do you just restore wallet.dat into the BTC directory?
How do I achieve a hard copy backup(paper)? Do you need to create a paper backup every single time your balance changes? Do you need to create a soft copy backup everytime your balance changes?
IMO it is better to store bitcoins on multisig wallets. Among online wallets bitgo & greenaddress are providing this feature. To create a paper wallet, you may use bitaddress.org. Better if you download the bitaddress code from github and create your wallets offline. |
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rich93
Full Member
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Activity: 595
Merit: 101
Chromia - Relational Blockchain
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March 17, 2015, 10:39:23 PM |
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Can someone point a noob into a good path for protecting my BTC? I currently use Bitcoin Wallet QT or what ever its called. I have backups across all my drives and 2 USB drives.
In the event my drive fails, do you just restore wallet.dat into the BTC directory?
How do I achieve a hard copy backup(paper)? Do you need to create a paper backup every single time your balance changes? Do you need to create a soft copy backup everytime your balance changes?
Yes, if your drive fails you just restore wallet.dat into the BTC directory in appdata. You can achieve a hard copy backup(paper) by opening the console window in your Bitcoin Wallet QT, typing dumpprivkey followed by your desired Bitcoin address, hitting enter, then copying and pasting the resultant key (string of numbers and letters) into a text file and printing it onto paper. If anything goes wrong in the future you can open your Bitcoin Wallet QT, type importprivkey followed by your desired Bitcoin address, and type enter. After a while your address and balance should show up in your wallet. No, you don't need to create a paper backup every single time your balance changes, all you need is the private key which does not change. |
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nioc
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Activity: 1624
Merit: 1008
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March 17, 2015, 11:28:56 PM |
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Electrum has recently released a new version 2.0
It has a lot of improvements and is still easy to use.
I have two wallets and the one with the most coins which is just for hodling isn't even on my computer. I have the seed written down and it is in 3 secure locations so that I can access them anytime or if something happens to me they will not be lost on the blockchain.
Is not Electrum dependent on a central server ? It is a "light" client so you don't need to download the blockchain therefore you need to connect to a server that has the blockchain. There are many servers and you can randomly connect to one or choose one. From what people who know say, there is no security risk. If for some reason the electrum service would disappear you can still access your btc as they reside on the blockchain not in your wallet. Whatever wallet you use your btc is on the blockchain and not in your wallet  You access the blockchain with your wallet . Did I get that correct? I put it simply so I'm sure some would like more detail. Edit: electrum is an OpenAlias-capable client. This means you can set up a custom address that looks like an email or web address instead of a string of 35 random numbers and letters. |
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c789
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March 18, 2015, 02:00:10 AM |
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As of two weeks ago, Electrum.
I had been using Bitcoin-Qt but the blockchain is taking ~38Gb on my computer. Granted, most HDs now have more than enough room for this. Plus, I only opened the wallet occasionally and when I did, it would take hours to sync. Qt is a fine wallet, but with Electrum it syncs in a matter of seconds.
Both are good wallets and each has its own strengths/purposes.
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croato
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March 18, 2015, 11:35:12 PM |
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Switched to electrum as main wallet before about month or so cause bitcoin-qt take redicoulous amount of resurces and time to sinchronise with network and using Coinbase on mobile but thinking to change that cause Coinbase sometimes need few hours for single confirmation.
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lucasjkr
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March 18, 2015, 11:38:03 PM |
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On my desktop, with storage plentiful, I use the full, official client; on my laptop, where storage is more limited, electrum is it...
I can't rationalize storing my coins with anyone else, and would urge anyone who uses a web wallet to try to learn to hold your coins yourself... At least until "real" wallet services show up with things like full insurance for all of their clients funds.
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