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Author Topic: How to keep the BitCoins Safe?  (Read 15425 times)
hahay
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February 16, 2019, 04:50:12 PM
 #101

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 
  • Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
  • Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.


I am one of the victim of the cryptopia exchange hack that occurred in the last month.
Using exchange wallet is riskier than using your own wallet, so better not using exchange wallet to store much coins.
After all, an exchange is not recommended to be used as a long term storage and with these incident, hopefully you will not repeat the same mistakes for the future. Saving for the long term would be better to use a wallet where you can have full control with private key which even if there is a problem with the device you are using, you can still restore it in the future.

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February 16, 2019, 05:51:18 PM
 #102

I will safe my asset on hardware wallet than have keep on exchange wallet, almost exchange wallet is not safe and we got news many exchange was hacked, by saving on nano ledger wallet we can save it for long time without worry about our asset will gone.

Hey that’s a good choice using a hardware wallet for storing your coins, I’ll agree with you exchanges are not a safe place to store your coins. I also recommend using electrum wallet for all, those who’re unable to buy a hardware wallet, it’s safe and secured. It’s pertinent to note that many investors do not use 2fa for extra security, and often transact using public wifi I would caution you against transacting on a public wifi.

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February 16, 2019, 07:26:56 PM
 #103

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 
  • Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
  • Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.



I think the best way it is just to keep your funds on a hardware wallet like the ledger nano s (or also others). All other methods are not even remotely comparable in terms of security.
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February 16, 2019, 07:43:05 PM
 #104

I think to keep your bitcoins safe, you need to use a hardware wallet for a huge amount of crypto, we are talking about a lot of money here, because they are more safe and secure. Online wallet is for small trading and small exchange of money, people should use online wallet carefully and activate 2FA on their wallet.
And about what the op says, I think the lost of thousands of bitcoin is really waste for bitcoin itself and for the community, so we need to have a procedure to recover waste bitcoin, for example, in the case of the broke of hardware wallet or in the case of dying.
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February 16, 2019, 08:23:49 PM
 #105

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 
  • Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
  • Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.



destkop wallet is the best for this job.. I have no confidence in any stock market. If these exchanges are hacked today, what can we do? nothing. therefore it is not smart to keep money on the exchanges. The best security is the security you provide.

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February 16, 2019, 08:40:50 PM
 #106

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 
  • Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
  • Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.


I am one of the victim of the cryptopia exchange hack that occurred in the last month.
Using exchange wallet is riskier than using your own wallet, so better not using exchange wallet to store much coins.
That has actually taught me a very big lesson in my life because i lost closely 0.12BTC in that incident on cryptopia hack which am yet to recover from.

Just order for a hardware wallet were i can keep my Bitcoin for safety as no exchange is good and safe for storage.
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February 16, 2019, 11:59:06 PM
 #107

Well, first and foremost, you need to have a secure and convenient crypto wallet to store all your cryto currencies. You also don't just give your private ket or password or any other security information to any other people other than you or to your trustworthy people. If your Bitcoin will gone, no one can retrieve it.
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February 17, 2019, 12:53:37 AM
 #108

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 
  • Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
  • Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.



I think the best way it is just to keep your funds on a hardware wallet like the ledger nano s (or also others). All other methods are not even remotely comparable in terms of security.
every wallet has a risk, even for the hardware walllet, your hardware wallet can be stolen by someone. therefore you must have
a backup plan such as storing the private key, installing a double password, or dividing the funds into another wallet
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February 17, 2019, 03:27:58 AM
 #109

Saving in our personal wallet is a good goal because indeed we will get a profit. in exchange there are many cases where many users experience problems with exchange and even their assets are lost
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February 17, 2019, 04:56:55 AM
 #110

Exchange wallets? I don't trust them.

As far as I know, ChangeNow has a scam accusations here, https://bitcointalk.org/index.php?topic=4619534.0

Change? possible that they can steal your coins as well - https://www.reddit.com/r/Monero/comments/8bdigt/dont_use_changelly_millions_stolen/

You can just go here, https://bitcoin.org/en/choose-your-wallet and pick the best wallet that fits your need.
I don't usually put my coins in an exchange wallet as we all know there's a possibility that there will be phishing attacks and steal your coins as well. If you want to store your coins in a safe wallet make sure you can put security like 2FA authentication on it so that you are the only one who can easily access and remember don't also expose or share your keys to another person for your own privacy. Don't forget to have a backup file if ever something comes up to your keys.

Its wise decision if we store our coin in our own wallet and not store it in exchanger wallet. Exchanger wallet is very vulnerable and many hackers want to hack exchanger, its put our coin in a risk. Using 2FA is good option but its wiser if we store our coin in hardwallet

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February 17, 2019, 05:13:52 AM
 #111

Saving in our personal wallet is a good goal because indeed we will get a profit. in exchange there are many cases where many users experience problems with exchange and even their assets are lost

I have always believed that if people are long term investors should save it offline and those who are traders and require the coins on daily basis to buy/sell then it could be split among exchanges and use the most secured exchange so that the risk becomes minimum.

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February 17, 2019, 05:21:58 AM
 #112

Saving in our personal wallet is a good goal because indeed we will get a profit. in exchange there are many cases where many users experience problems with exchange and even their assets are lost

I have always believed that if people are long term investors should save it offline and those who are traders and require the coins on daily basis to buy/sell then it could be split among exchanges and use the most secured exchange so that the risk becomes minimum.

I agree with you, that it is better to save in offline wallet if we are going to long-term so that whatever situation it is we are responsible for the security of our assets that no one can could steal it if we are properly keep it.

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February 17, 2019, 05:43:35 AM
 #113

Only paper wallet is safe for holding Bitcoins. Any exchanger even If BInance is not secure because online wallets are always risky. You have mentioned a crypto exchanger founder died and he had $190M worth of Bitcoins to him. As an active trader, i have no option to hold my coins in any offline wallets.

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February 17, 2019, 05:45:28 AM
 #114

To protect bitcoin safely we must first have a good experience in storage and proper management.In this new market, security is most needed.


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February 17, 2019, 06:02:58 AM
 #115

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 
  • Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
  • Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.




I also do trust Binance but it's better to keep your 100% safe. Maybe CZ really meant to keep the funds safe but we don't have guarantee on his employees or security team or the devs. An inside job could happen and make the hack into a reality and that incident would lead onto making a lot of traders to stop buying crypto again.
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February 17, 2019, 08:21:46 AM
 #116

First people will be know the wallet information. Then easy to use and safely save your account wallet fund. Don't hold the more money in one wallet. Acctive your account every time. Speret your fund some wallet.
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February 17, 2019, 09:05:05 AM
 #117

Saving in our personal wallet is a good goal because indeed we will get a profit. in exchange there are many cases where many users experience problems with exchange and even their assets are lost
Save in a personal wallet with double button security. Then secure the private key in a hidden place such as a flashdisc or manually so it is difficult for hackers to enter.
There is no safe place if we are negligent in responding to emails or advanced links when browsing the internet. Bitcoin security must be accompanied by thoroughness in receiving seduction from emails which is sometimes a trap.
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February 17, 2019, 09:06:49 AM
 #118

Save your bitcoin at nano ledger wallet is more safety than you hold or save at exchange online wallet, like exchange market or myetherwallet, many investor have already use nano ledger wallet and could save their asset for long term.

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February 25, 2019, 07:21:02 PM
 #119

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 
  • Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
  • Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

There are many ways to keep your bitcoins safe. Choose a wallet and offline or online wallet that is used by many holders or famous of its security for you to have that info you need to check it first. Second important thing is that you should secure your passwords/codes in you for you to prevent it from hacking.

 
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February 25, 2019, 07:29:57 PM
 #120

How to keep bitcoin safe.
*get a bitcoin wallet
*send your bitcoin into your bitcoin wallet
*protect your wallet private key

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