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Author Topic: How to safely store big amounts of BTC?  (Read 11858 times)
TeePee
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June 08, 2019, 06:09:05 PM
 #1

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
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June 08, 2019, 06:26:28 PM
Merited by gentlemand (1)
 #2

Two should be enough in my opinion. One of storing and one for recovering in case something happens to the first device.

Don't use wallets like Jaxx and Exodus, they are not open source, you never know what's going behind the scenes and If they have access to your funds or not.

Store everything in one device, write the seed down in multiple pieces of papers and hide them in different locations. If the hardware wallet gets lose or damaged, you could use the seed to recover your coins.

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June 08, 2019, 06:31:28 PM
 #3

One wallet is enough just make sure that the codes or passphrase is secure.
If you lose your hardware wallet you could recover the wallet using the passphrase.
So for me one hardware wallet is enough for all of it.
Using plenty of wallet could be confusing and if you couldn't use one wallet properly then using multiple would have the same result.

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June 08, 2019, 06:38:42 PM
 #4

Lots of wallet only make yourself confused, especially if you use different hardware/software wallet with different password/PIN. I'm sure you'll forget password for some of your wallet.

1 HW wallet is enough if you don't mind longer and less convenience way to restore your Bitcoin if your HW wallet is lost/broken.
Just make sure paper (which contain recovery seed) is stored securely, if necessary you could split it into few parts and store it on different location. If a paper is found by accident, the attacker only know few words which can't be used to steal your Bitcoin easily.

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June 08, 2019, 06:51:31 PM
 #5

One or two would be enough as long as you could handle it responsibly. You should be mindful of your private keys and must store it in a safer place. It depends on how you secure it knowing you're holding your own funds at your own risk.

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June 08, 2019, 07:04:21 PM
 #6

i think 2 wallets will be good. 1 Wallet will act as a cold wallet so you can store/hodl your coins for a long time and the other 1 will act as a hot wallet which you can use it for everyday use

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June 08, 2019, 07:13:32 PM
 #7

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

You should have a back-up of your wallet seed in case of hardware failure. You should never depend solely on one device. Consider keeping a copy of your seed written down on a piece of paper and hidden. Also consider keeping an encrypted copy in another physical location (like a safety deposit box or your parent's house) in case your house burns down.

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

I would avoid using closed source wallets like Jaxx or Exodus. I recommend Electrum and Bitcoin Core.

You might consider using multiple security models. An encrypted cold storage wallet.dat here, an encrypted cold storage Electrum wallet there. Multiple copies on different mediums (USB, disc, SSD) in case of hardware failure. Maybe a paper wallet. You never know what vulnerabilities might be discovered later -- best to spread around your risk to different models.

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June 08, 2019, 07:24:01 PM
 #8

1 wallet would be enough as long as you secure the pass phrase, keep it safely offline you can recover your wallet using the passphrase on a different hardware device.

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June 08, 2019, 07:54:44 PM
 #9

All the methods are well explained here: https://en.bitcoin.it/wiki/Cold_storage There is always some risk and I don't know if there is really a best method on how to do it but you can take a lot of preventive measures. I personally have been using paper wallets for some time but I stopped using them because it's not a very reliable method of safely storing your bitcoins, way too many bad things can happen to it.
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June 08, 2019, 08:01:27 PM
 #10

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

Yes.That is safer.Always remember don't put all your eggs on one basket.If something something happens you lost everything.If you keep them in separate basket or place.Always use more hardware than online one.One accounts are easily got hacked by the hackers.Hardware wallet is the best thing .Put them in different locations and save that.You don't need laptops wallets.Hardware wallets are enough for you.

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June 08, 2019, 08:06:21 PM
 #11


the only way to safely store your bitcoins is a hardware wallet such as ledger nano or trezor, according to me the paper wallets are less secure

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June 08, 2019, 08:36:51 PM
 #12

Okay thanks a lot for all your input. I already have bought a ledger nano and will start using it.

Writing the seed phrase on multiple different pieces of paper seems a good idea. If one gets stolen the thief still cannot access my coins. However, the downside is that if I lose 1 of the 4 parts of my phrase seed, I no longer have the complete phrase and it basically means I have lost the whole phrase.
Maybe, to tackle that problem the best solution would be write the phrase on 2 pieces of paper....divide them up into 4 parts each so I have 8 pieces of paper...1A,1B,1C,1D,2A,2B,2C and 2D and then store them all in separate locations. Would that be the best solution?
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June 08, 2019, 08:54:43 PM
 #13

In my opinion, getting more than one hardware wallet is unnecessary. You just need to make sure your passphrase is secure and you are good to go

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June 08, 2019, 08:57:11 PM
 #14

If one wishes to keep such amount of bitcoin safe, a single hardware wallet is OK provided the recovery phrase is kept in a place where it will be safe and accessible. You can also go with the suggestion given by a user above I.e storing writing out the phrase on numerous piece of paper and keeping them in different location.

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June 08, 2019, 09:10:15 PM
 #15

I think 2 hardware wallets will be enough, just in case something happen with first hardware wallet and can't turn on you have second one just in case, and always backup your passphrase and write it down multiple times and store them on different location if possible but make sure no one will access it and steal your coins. If God Forbid! house burn make sure you have the passphrase saved on another place before because without it and without hardware wallet you can't acces your coins anymore.
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June 08, 2019, 09:15:37 PM
 #16

Okay thanks a lot for all your input. I already have bought a ledger nano and will start using it.

Writing the seed phrase on multiple different pieces of paper seems a good idea. If one gets stolen the thief still cannot access my coins. However, the downside is that if I lose 1 of the 4 parts of my phrase seed, I no longer have the complete phrase and it basically means I have lost the whole phrase.
Maybe, to tackle that problem the best solution would be write the phrase on 2 pieces of paper....divide them up into 4 parts each so I have 8 pieces of paper...1A,1B,1C,1D,2A,2B,2C and 2D and then store them all in separate locations. Would that be the best solution?
Or you could just write down the seed phrase in reverse or any order that you can easily remember and then store it in different safe locations. Even if someone accidentally discovers your seed phrase, they cannot use it because the order is mixed up.
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June 08, 2019, 09:25:25 PM
 #17

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

I think it is not right thing to keep big amounts of BTC in a wallet. If I have a big amount BTC, I definitely use several wallets. Mostly paper wallet. I prefer paper wallets because I can't trust completely hardware ones. It seems unsecure for me.

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June 08, 2019, 09:27:37 PM
 #18

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?
No. as long as you have the seeds, you are still good because you can recover that afterwards. The hardware wallet might get burned but you still have ways to recover it through your written seeds. So, you just won't keep the hardware wallet alone but you have to protect also your written seeds in some ways.

Writing the seed phrase on multiple different pieces of paper seems a good idea. If one gets stolen the thief still cannot access my coins. However, the downside is that if I lose 1 of the 4 parts of my phrase seed, I no longer have the complete phrase and it basically means I have lost the whole phrase.
Maybe, to tackle that problem the best solution would be write the phrase on 2 pieces of paper....divide them up into 4 parts each so I have 8 pieces of paper...1A,1B,1C,1D,2A,2B,2C and 2D and then store them all in separate locations. Would that be the best solution?
What I did, I just wrote those seeds altogether and back them up with other written seeds. I place the other one on a safe place that only I knows. While the other one, it's always with me.

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June 08, 2019, 09:31:03 PM
 #19

It is a good idea that you have chosen to store your bitcoins on a hardware wallet but i dont think getting numerous hardware wallets is the important thing. Choose a good and secured hardware wallet and also make sure to store your seed words at a safe place. Don't forget to back up at several places both in the house and somewhere else. That way in case there is any accident like fires you funds would be safe since you can recover it at anytime.




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June 08, 2019, 09:32:54 PM
 #20

Generate multiple seeds and store those offline where the biggest amount takes the biggest effort to retrieve. 
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June 08, 2019, 10:19:39 PM
 #21

Generate multiple seeds and store those offline where the biggest amount takes the biggest effort to retrieve. 

I would do the same. I don't trust hardware wallets that much and would rather have the seed engraved on a metal plate and stored somewhere in the house. Even if there's a fire it won't be able to destroy your metal seed but it will burn a hardware wallet making it impossible to use.

Don't worry about thieves as long as you don't tell people that you're holding bitcoin. Thieves are interested in money and valuables. They will rather steal your hardware wallet if they find it because they'll be able to sell it and won't look around the house for a piece of engraved metal.

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June 08, 2019, 10:41:44 PM
 #22

Having lots of wallets would really be just a stressful thing yet I would prefer on using up 2 wallets and same as other member said here that 1 is for long term and one if for active wallet. if you do plan to store 15 btc on hardware then use up LEdger and write the keys either on a usb or in some piece of paper that no other
can able to access or sees through it.As long those keys are safe you wouldn't mind too much if your hardware wallet would be lost or burned since you can still make some recovery.

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June 08, 2019, 10:44:29 PM
 #23

The safety of your Bitcoin in your wallet solely depends on you the user and owner of the wallet. Using more than one wallets to store your Bitcoins does not strongly guarantee that the coins are safe and free from either getting lost or stolen. Personally, I will advise that you use one hardware wallet and keep the restoring backup very safe.  
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June 08, 2019, 10:49:48 PM
 #24

avoid saving your assets in the wallet exchange, if you want to save in an exchange wallet, you must save in a large exchange and use security.  or you can use javvy wallet, arax wallet, samourai, and more secure you can use hard wallet.

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June 08, 2019, 11:26:23 PM
 #25

For me it is good to use at two of the latest with more advanced security hardware wallet like Nano ledger x and nano s. And for the security it is good to spread the security word on any pieces of paper and keep it on different book to assure that those security words are safe for recovering you wallet again. But it is always better to remember your security identify as hard as you can because if ever someone accidentally find your security identify they could not easily get your wallet. 

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June 08, 2019, 11:47:54 PM
 #26

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Sell bitcoins and buy Gold. Simple. Gold is safest investment.
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June 08, 2019, 11:53:55 PM
 #27

Saving Bitcoin with that amount should use one hardware wallet and one wallet to be used every day like a hot wallet. Wherever you store a Bitcoin it's better if you copy the seed then save it in a safe place this is to avoid if your laptop is damaged or lost. For hot wallet, it's best not to save too much bitcoin because the use of this wallet is very vulnerable to hacking. It might save 20-30% in the hot wallet if you don't spend money on Bitcoin too often.
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June 09, 2019, 02:37:45 AM
 #28

Generate multiple seeds and store those offline where the biggest amount takes the biggest effort to retrieve. 

I would do the same. I don't trust hardware wallets that much and would rather have the seed engraved on a metal plate and stored somewhere in the house. Even if there's a fire it won't be able to destroy your metal seed but it will burn a hardware wallet making it impossible to use.

there is not that much issue with trusting hardware wallets since most of their firmware is already open source but there still is room for concern. i personally will never use hardware wallets because i believe people shouldn't pay for a bitcoin wallet since they can make a secure one themselves if they put enough time into it. and if you have a lot of money at stake you should spend time learning how to do it anyways.

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June 09, 2019, 02:43:13 AM
 #29

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

Store in your personal wallet. And keep your private key in a secret folder so no one knows it. For safer you can save in Wallet ledger. Because the hardware wallet is very secure.

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June 09, 2019, 03:06:36 AM
 #30

Use a wallet that has devices, it will make yourself able to safeguard assets more safely.
Avoiding networks can make our assets avoid crime. Believe that when we store assets in large quantities we must make special treatment.
Avoid all access that is easy to guess so we will feel calm and comfortable.
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June 09, 2019, 03:08:55 AM
 #31

Some comments above has been enough to give you understanding how to store your bitcoin and I don't think about security you will do it. Each person has ability to make sure that the security thing is an important thing when they are store the assets. But seems like there are  other people who still ignore these way and he believes that he is the only person who knows to access the his wallet. Whilst the system is not perpect, there are still a person who will try to broke your security and make your assets stolen. So, I'll just give a little suggestion, if you know your asset is everything for you then you should know everything about the hardware wallet, find ins and out about the hardware wallet and make sure you have done everything in detail to make your wallet safe. Also, if you have a huge amount of bitcoin don't try to store your bitcoin on exchange wallet, it's really not safe.
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June 09, 2019, 04:35:26 AM
 #32

If i were you used your btc wisely make at least 4 or 5 wallets for security purposes, and some of it use it to earn more by doing some trading to increase your profit, or used your BTC in some legal investment or create or start your own business, used it to gain more, for your future.
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June 09, 2019, 05:05:54 AM
 #33

I think it's better to use one hardware wallet because it's more convenient and less hassle, spreading it out on different wallet will just confuse you. Just make sure to keep the private key and seed phrase in a paper wallet and also engrave it in a metal and keep it in a vault so that incase of fire you will still have a way to access your wallet.

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June 09, 2019, 05:10:16 AM
 #34

don't put everything on a hardware wallet. you should never put all your eggs in one basket. last i checked, ledger and keepkey (not sure about trezor) have partially closed source firmware. plus, i'm still of the opinion that the attack surface of hardware wallets is relatively unknown/untested.

i would generate multiple offline wallets (bitcoin core is best) so not all my coins are kept in one place, encrypt them, and store them (keeping multiple copies of each) on general purpose hardware like generic USB sticks.

that's the other thing i hate about hardware wallets.....they scream "i have crypto, steal me!"

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June 09, 2019, 06:37:56 AM
 #35

If you have 15 bitcoin righr now and you want to seperate to different kinds of wallet you can also use mobile wallet but make sure it is very secure like using 2FA to your gmal account and also set notification to your mobile phone for accessing your wallet only.

That is huge amount of bitcoin and you will need to choose best wallet for every 5 bitcoin keep to not stole by the other people or by the hacker.


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June 09, 2019, 07:12:54 AM
 #36

Don't keep all eggs in one basket so divide your coins in multiple wallets. This is the way how you can diminish the risk. Also, use hardware wallets they are still the most secure but it would be also good to combine them with offline wallets. And store your access data somwhere at really safe place where no one else could have the access.

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June 09, 2019, 07:45:16 AM
 #37

I am not to fond of hardware wallets for long-term storage, because they constantly need firmware upgrades and some of these upgrades can be tricky, like we saw with Ledger a while ago.  Roll Eyes  <Devices can also fail, it is a clever toaster>  Roll Eyes

I like to store large amounts on laminated Paper wallets and I make sure I make several copies and store them in different locations. I bought a cheap computer and printer and I printed 1000s of paper wallets and then destroyed the equipment, so nobody would ever be able to recover anything from those devices.  Wink


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June 09, 2019, 12:07:36 PM
 #38

Maybe, to tackle that problem the best solution would be write the phrase on 2 pieces of paper....divide them up into 4 parts each so I have 8 pieces of paper...1A,1B,1C,1D,2A,2B,2C and 2D and then store them all in separate locations. Would that be the best solution?

Personally, I think it is not wise to divide 24 seed words on so many small pieces, after some time it is very easy to forget correct order of such backup. If you want extra security just divide seed in two parts, keep one backup (12+12 words) at your place, and other in some other place. More backup on one hand means greater security, but it is also a double-edged sword - which means more chances to someone accidentally or intentionally finds your backup.

I am not to fond of hardware wallets for long-term storage, because they constantly need firmware upgrades and some of these upgrades can be tricky, like we saw with Ledger a while ago.  Roll Eyes  <Devices can also fail, it is a clever toaster>  Roll Eyes

I think that's the expression constantly is exaggerated, in 3 years Ledger is have only 4 firmware update, and the vast majority of problems occurred in people who have used or still use Windows 7, this OS in not supported by Ledger, but it is still supported by Trezor. It is true that such devices can fail, but because of that we have backup (seed words), which can be used in many other wallets (mobile,desktop) for recovery.

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June 09, 2019, 12:35:04 PM
 #39

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

You can split 15 btc into 3 different hardware wallet, and in this case, I will choose Ledger S Nano or Ledger X Nano. Then for each wallet, you can send 4 btc, and you still have 3 btc left. And then you use the other wallet like Mycelium to save 2 btc and send 1 btc in the exchanges for trading, but that is only if you want to trade. But if it's not, you can save it in Mycelium and hold it for a long time.

For Mycelium wallet, you can buy 1 new mobile phone but don't insert any card to that phone and don't connect to the internet if you don't want to access the Mycelium. Remember to save all of the private keys for each wallet so if you lose one wallet or hardware wallet, and you can restore it into another hardware.

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June 09, 2019, 12:57:38 PM
 #40

Don't keep all eggs in one basket so divide your coins in multiple wallets. This is the way how you can diminish the risk. Also, use hardware wallets they are still the most secure but it would be also good to combine them with offline wallets. And store your access data somwhere at really safe place where no one else could have the access.

I confimed this alot !
My friend had pas incident when he put massive amount of bits on online wallet and suddenly, the fund was moving.
He forgot to unauthorised the website before try to log out !

Smiley
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June 09, 2019, 01:51:01 PM
 #41

Two should be enough in my opinion. One of storing and one for recovering in case something happens to the first device.

Don't use wallets like Jaxx and Exodus, they are not open source, you never know what's going behind the scenes and If they have access to your funds or not.

Store everything in one device, write the seed down in multiple pieces of papers and hide them in different locations. If the hardware wallet gets lose or damaged, you could use the seed to recover your coins.
the higher the number of time the seeds are written down and kept in multiple places, the greater the chance of losing the coin to third party. Holding such huge amount of money is like holding something that when you lose it you are going to lose your life. I have seen people keeping valuable assets in banks and other third-party. putting hardware wallet that contain such amount of money in bank is not a bad idea. Even if the owner died, I am sure his/her family will still have opportunity to make use of the asset. my own opinion though.

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June 09, 2019, 01:56:30 PM
 #42

1. Never put large amounts in an online wallet or on an exchange. Those are frequently hacked or stolen. That is a very common way people lose huge amounts of BTC.

2. A local online wallet is great, but is only as great as the security on your PC.  If your computer is at home, is connected through a modern router, and you use mostly web based or Steam bought applications than your chance of being hacked is somewhere between zero and very remote. Multi-signature wallets can mitigate a lot of this by requiring that multiple devices sign the transaction. That means if your PC gets hacked, it can't spend money unless your phone or other device has also been hacked. Always be sure to encrypt local wallets, and make sure you have a good quality anti-virus program installed.

3. Hardware wallets are the most secure, but there is an added cost that may exceed the value they are providing. If, for example, someone keeps $10k in a (local) online wallet but has a .5% chance of being hacked, then the cost of the hardware wallet is greater than the amount they would expect to lose on average. At that point, a decision needs to be made whether it is better to self insure or to pay to buy that extra insurance.

4. An offline PC is also very secure, but there is always the risk it might be compromised locally and generating the transaction to spend money requires extra work to copy it off the offline storage.

5. Paper wallets are very insecure, since anyone who gets access to it can spend the money without passwords or any multi-factor authentication. I don't think people fully appreciate the risk they take when they put wallet words in obvious places; homes are robbed regularly, and crooks nowadays are savvy. I believe you're safer putting wallet words in an online location that is known to be highly secured, i.e. Google products, than in a desk drawer where even a family member who knows you are into crypto could drain your wallet.

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June 09, 2019, 02:02:49 PM
 #43

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

You have only 10 to 15 btc and there are people who are storing 100 btc on a single wallet. You do not need to make things complicated. More the wallets, more the private keys and it will make every thing confusing. Just keep a single hardware wallet and keep the private keys in two different places and that will be enough.


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June 09, 2019, 02:04:08 PM
 #44

Many risks to avoid the number of hackers. To anticipate, you can share your assets. If my advice is, I will divide it into several coins, for example eth. You can use MEW. Save multiple wallets on e-mail, PC or other devices.
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June 09, 2019, 02:08:21 PM
 #45

I suppose you're trading some piece of those BTCs. Well as mentioned already below you. Two is enough,  and I would do the same thing once I get big in my trading in cryptos. You don't need a plenty of hardware wallets unless you're like a CEO or founder of a company that sells out products that accepts BTC as a payment method where you might need to allocate properly for salaries, utilities, etc.

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June 09, 2019, 02:08:36 PM
 #46

if in my opinion, bro.
if we have a large amount of BTC, don't keep it in one wallet. if you can save it in 3/4 of a wallet because from the experience I got at the beginning of 2018 I lost 63 BTC. because I keep it in one wallet

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June 09, 2019, 02:16:19 PM
 #47

if in my opinion, bro.
if we have a large amount of BTC, don't keep it in one wallet. if you can save it in 3/4 of a wallet because from the experience I got at the beginning of 2018 I lost 63 BTC. because I keep it in one wallet

Can you explain a little bit more how you lost all your BTC? Because only writing this makes me think you lost your coins from hot wallets that have been hijacked?



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June 09, 2019, 02:31:34 PM
 #48

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

You have only 10 to 15 btc and there are people who are storing 100 btc on a single wallet. You do not need to make things complicated. More the wallets, more the private keys and it will make every thing confusing. Just keep a single hardware wallet and keep the private keys in two different places and that will be enough.


Having a deeper understanding to what you are dealing with can give you much better anticipations, if you do  use single wallet but you have a good anticipation to what possibilities to happen, you can do that without any worries about your assets.



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June 09, 2019, 02:46:36 PM
 #49

Having different wallets is confusing. I think when it comes to safety, I would suggest you buy a separate laptop or computer where the only thing you do there is cryptocurrency related stuff and invest in having a hard wallet like a ledger. Just be careful so you won't lose your ledger and just always remember where you put it.
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June 09, 2019, 02:52:28 PM
 #50

I advise you to save your bitcoin in several crypto currency wallets. Maybe you should at least use 3 crypto currency wallets. I suggest this to minimize your risk of losing all your bitcoins when you become a victim of hacking. It is one of the risk management that you must implement. Besides that, you also have to make sure all security procedures are going well. Meaning you don't have to worry about the security of each wallet you have.
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June 09, 2019, 03:45:26 PM
 #51

To be safer, it is better to keep it in your hardware wallet, but for 15 btc ownership it would be better if you don't keep it in one wallet.

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June 09, 2019, 04:30:09 PM
 #52

Personally, I find hardware wallets a waste of money. They are just another electronic device you have to charge and store somewhere safe and dry. If I have to remember about a hardware wallet I could as well remember about a laminated paper wallet in a safety deposit box, especially since I can have 2 or more of them and be sure that they will never get destroyed all at once. I'm all about the classics. If I wanted to store my coins for a long time, I'd put a paper wallet in a tightly closed container and bury it in the garden. I don't get floods or earthquakes in my area so I'm pretty sure it would survive for another 20 years, or more. 

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June 09, 2019, 05:03:20 PM
Last edit: June 09, 2019, 05:58:13 PM by Ridwan Fauzi
 #53

Hardware wallet is the best choice for everyone who has a huge amount of bitcoin. Because the susceptible thing when someone has a bitcoin and he save in some exchange then he will find the security he makes will not provide a security side that is truly maintained.

Especially with the centralized exchange, beside the hacker thing which will be a frightening specter for every bitcoin user the exchange itself is decent to be suspected. I found some case that the user an exchange cannot withdraw their bitcoin to the other exchange for several reasons. This is not will happen if you use hardware wallet, you are free make your wallet is secure or not and you are free when you decide to send your coin and sell it to money fiat.

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June 10, 2019, 09:35:03 AM
 #54

3. Hardware wallets are the most secure, but there is an added cost that may exceed the value they are providing. If, for example, someone keeps $10k in a (local) online wallet but has a .5% chance of being hacked, then the cost of the hardware wallet is greater than the amount they would expect to lose on average. At that point, a decision needs to be made whether it is better to self insure or to pay to buy that extra insurance.

I would not agree with your assessment, $10k in crypto is big money at present time (at least for me), and the value in the future can be xx times higher. Some $60 for hardware wallet is a very inexpensive investment, given the security that comes with such device. Any hot wallet (desktop&mobile) can not be measured in security with hardware wallets. Even 0.5% chance of losing coins is to big, when such a thing happens, there is no way back.

Personally, I find hardware wallets a waste of money. If I wanted to store my coins for a long time, I'd put a paper wallet in a tightly closed container and bury it in the garden. I don't get floods or earthquakes in my area so I'm pretty sure it would survive for another 20 years, or more. 

It is your opinion and your choice, but you can not be sure that floods or earthquakes are not something which can not happen in your area. Maybe you can be sure if you do not have any big river near by, or you are far from the sea, but the earthquake is something that can not be predicted. In case of hardware wallets most important thing is seed, the device itself can be stolen, but it is protected with PIN and it will wipe itself in case that wrong PIN is entered few times in the row.

We can read recently that one hardware wallet is survive fire and firefighters' intervention (lot of water), and one manufacturer is offering hardware wallet made from anodized aluminum.

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June 10, 2019, 05:09:25 PM
 #55

Personally, I find hardware wallets a waste of money. They are just another electronic device you have to charge and store somewhere safe and dry. If I have to remember about a hardware wallet I could as well remember about a laminated paper wallet in a safety deposit box, especially since I can have 2 or more of them and be sure that they will never get destroyed all at once. I'm all about the classics. If I wanted to store my coins for a long time, I'd put a paper wallet in a tightly closed container and bury it in the garden. I don't get floods or earthquakes in my area so I'm pretty sure it would survive for another 20 years, or more. 
Sorry to say this but what if you die. what do you think will happen to your asset. your talk about natural disaster like flood and earthquakes but since you think that has never happened in your area you think flood cannot take place in the next 20 years. What if there is climatic change. Finally, I hope the container you intend to put your paper wallet is non-biodegradable because if it is your laminated paper wallet can become unreadable in the next 20 years. despite the hard scenario surrounding the storage of huge coin, I still believe the hardware wallet is the best option for now.

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June 10, 2019, 07:09:47 PM
 #56

It seems to me who is best to make anonymous his person and then there will be no third parties, including interested in your information and personal data.  Only if you attract interest, then your funds will certainly be under threat.

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June 10, 2019, 07:39:29 PM
 #57

You want at least 3 hardware wallets and you MUST memorise all the seed phrases, that way you don't have to write them down and they won't get lost/stolen.  Even better, get them tattooed inside your eyelids.  That way, only you can see them. 

Seriously though, get an old iPhone, wipe it and install a local wallet on it.  Remove the sim card and only turn wifi on when you want to send/receive.  Fingerprint recognition to open the phone and the wallet.  You can't get much more secure AND convenient than that.  You could even store you pass phrase in that and fingerprint protect it.  I would like to see that get hacked.  You can even encrypt the iTunes backup just for extra redundancy.

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June 10, 2019, 07:57:39 PM
 #58

OP is your desired storage restricted to only hardware Wallet's? I think you can go with two to reduce on cost and responsibility of remembering where each one is (if they will be stored separately) Unfortunately Am not so much into hardware wallets because am not convinced they are the outright answer to storing a portfolio as yours and other wallets an do a good job too.

Imo you could use a vanity segwit wallet that you can generate from a clean machine that guarantees no third party knows or has access to your private keys.

Guide on how to create a vanity segwit wallet follow link here https://bitcointalk.org/index.php?topic=5144752.0

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June 10, 2019, 09:42:34 PM
 #59

I think 2 or 3 wallets are the best and share them into several btc. The most important thing is how you secure this wallet, always use cold storage and not give internet access when not in use. Oh yes, don't use a wallet that is close source because you will have limitations in accessing your wallet.

Maybe this can be a reference: https://bitcoin.org/en/choose-your-wallet

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June 11, 2019, 05:03:40 AM
 #60

I mostly recommend buying a hardware wallet and put it the safe place that only you can access it. Don't trust anybodies computer on accessing your hardware wallet. That's all i have done in the past 2 years of owning a hardware wallet. Nothing so suspicious occurs in the 2 years run of my hardware wallet.

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June 11, 2019, 05:16:10 AM
 #61

I'm glad you see that risk which is possible to happen.
If you are not contented with 2, make it 3 wallets, the more the better and put it in different places which should be very far from your home that does not also have the same weather situation. Don't limit the possibility to fire alone, earthquake and flood could also destroy your bitcoin in your wallet.

Maybe [1] from your home, [2] from your parent's house [3] from your sibling or friends that you trust the more.

You are aiming for long term, if we take a look at the price of 10-20 BTC now, maybe we can afford to lose, but in 10 to 20 years, that would be a different story.Probably the value that time would increase and if you lose that, that would bother your lifetime since the you should be part of the big holder of bitcoins.


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coin-investor
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June 11, 2019, 05:19:53 AM
 #62

Using a hardware wallet is highly recommended but still depends on how good are you on keeping the pass phrase safe, so spend funds for bank vault for safekeeping, you can use two hardware wallet and also keep a small portion on Exodus in case you need money to trade.
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June 11, 2019, 06:00:57 AM
 #63

Hardware wallet are good but you can also use cold wallet or wallet that you have its private key which you must key jealously away from any person no matter who that person is to you and make sure it is write down in a place that can be easily access in case of lost of soft copy .
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June 11, 2019, 10:45:06 AM
 #64

It is your opinion and your choice, but you can not be sure that floods or earthquakes are not something which can not happen in your area. Maybe you can be sure if you do not have any big river near by, or you are far from the sea, but the earthquake is something that can not be predicted.
In case of hardware wallets most important thing is seed, the device itself can be stolen, but it is protected with PIN and it will wipe itself in case that wrong PIN is entered few times in the row.

We can read recently that one hardware wallet is survive fire and firefighters' intervention (lot of water), and one manufacturer is offering hardware wallet made from anodized aluminum.

You got it all right. I'm far from rivers and the seaside and there hasn't been an earthquake in my area like ever. I'm not in a tectonically active spot and there are no records of it ever happening here for the last 1000 years, so I feel like I'm pretty safe. Also, stainless steel containers are pretty solid, don't rust, don't burn and are airtight.

If the seed is the most important why would I use a hardware wallet for a long time storage. I will have to hold the seed somewhere anyway (like in that steel container in the garden), so I might do that anyway and save some money.

It survived but you can never be sure if yours will. Fires aren't the same each time and depend on many factors like the size of the room, the materials inside, amount of air coming in, and so on. The temperatures can be much different each time.

Sorry to say this but what if you die. what do you think will happen to your asset. your talk about natural disaster like flood and earthquakes but since you think that has never happened in your area you think flood cannot take place in the next 20 years. What if there is climatic change. Finally, I hope the container you intend to put your paper wallet is non-biodegradable because if it is your laminated paper wallet can become unreadable in the next 20 years. despite the hard scenario surrounding the storage of huge coin, I still believe the hardware wallet is the best option for now.

If I die my wife will know where to look for it. I know it will sound selfish, but when I die I won't really care about my asset. If a few Bitcoins disappear from circulation to be found 50 years later by some treasure hunter with a metal detector, they won't be missed.

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June 27, 2019, 10:58:42 AM
 #65

If there is a need to store a large amount of cryptocurrency, you cannot think anything better than cold storage. It involves physical access to the information medium, to protect it from any attempts to access via internet.

Ways to keep your cryptocurrency safe:

1. Desktop Wallet: It offers various advantages over an online wallet. These are accessed only via your private computer, with personal security keys stored just on that machine.

2.Hardware Wallets: These are more secure than the desktop wallets. These wallets are bits of hardware, external devices like USB sticks which you can carry around. Hardware wallets are flexible to malware, and if you happen to lose your wallet, you'll be able to recover the funds using a seed phrase.

3.Physical Coins: To purchase the physical coin, you may need to pay a slight premium over the value of the Bitcoin that you're buying.

If you are looking for cryptocurrency wallet or want to know about the security of your cryptocurrency, you can refer to
https://www.altcoinsidekick.com/bitcoin-basic-blog/choosing-the-right-digital-wallet-to-store-your-cryptocurrency.

I also took my first digital wallet with the help of this blog and if you are looking to choose the right digital wallet, I believe that this article will help.
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June 27, 2019, 12:23:41 PM
 #66

Buy a hardware wallet like ledger. It is safe to store there large amount of bitcoins. Just make sure you make multiple backups of it so you can recover your wallet. Online wallets like blockchain or coinomi are good option too. As long as the wallet supports word phrases and private keys to recover and access your bitcoin wallet it is safe to use.

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June 27, 2019, 01:14:59 PM
 #67

Two should be enough in my opinion. One of storing and one for recovering in case something happens to the first device.

Don't use wallets like Jaxx and Exodus, they are not open source, you never know what's going behind the scenes and If they have access to your funds or not.

Store everything in one device, write the seed down in multiple pieces of papers and hide them in different locations. If the hardware wallet gets lose or damaged, you could use the seed to recover your coins.



Would/could you use several, for example Trezors, and program them all with the same seed, thus being able to access the totality of your bitcoin from any of the single trezors?  Assuming your six number code, and pass phrase was the same with all the Trezors, which you can do with Trezor, if you lose one of the hardware wallets you would not even need to break a sweat.
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July 02, 2019, 07:07:48 AM
 #68

Do most ppl have 1 hardware wallet or 2?
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July 02, 2019, 07:26:29 AM
Last edit: September 16, 2019, 10:36:41 AM by Malvika_sitlani
 #69

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

I feel that you are right it is highly risky to hold all fund in a single hardware wallet. It is good that the funds are stored in multiple wallets. Hardware wallets are the safest then the laptop wallets. I would say prefer Ledger or trezor.

Source: https://www.investopedia.com/news/bitcoin-safe-storage-cold-wallet/

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July 02, 2019, 10:11:06 AM
 #70

 I think you should keep the coin for a long time from 1 -2 years then come back, you will find the surprise with its price
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July 02, 2019, 12:47:30 PM
 #71

This is not a big problem.. you can use 2 wallet to store a big amount of Bitcoin.. as i see one coment that one for cold wallet and one for hot wallet..
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July 02, 2019, 01:42:59 PM
 #72

I mostly recommend buying a hardware wallet and put it the safe place that only you can access it. Don't trust anybodies computer on accessing your hardware wallet. That's all i have done in the past 2 years of owning a hardware wallet. Nothing so suspicious occurs in the 2 years run of my hardware wallet.

I have also considered purchasing hardware wallets in the past. But I found them very basic and overpriced. The cost of creating a hardware wallet is not more than $10 apiece. And they are selling them for 10 times that price. On top of being expensive, having a hardware wallet also makes you vulnerable to any Bitcoin seizure by the government authorities.

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July 02, 2019, 02:42:00 PM
 #73

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
Well i do think its okay to store your coins in one wallet and the best way to make it safe is just rent a safety box from bank and i do think it will be safer but you can't freely move your coins.

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July 02, 2019, 05:49:08 PM
 #74

If the amount is big in terms of bitcoin the possible way to keep it secure is the usage of nano ledger hardware wallet. Recently an updated version of the same come to usage with international shipping to countries around the globe. I think it'll cost around $120-$150, spending on this will be worth considering the value of the crypto holdings.

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July 02, 2019, 06:43:03 PM
 #75

Well i do think its okay to store your coins in one wallet and the best way to make it safe is just rent a safety box from bank and i do think it will be safer but you can't freely move your coins.

I don't think it's a good idea to use a safety box inside a bank to store your private keys and whatnot. In that case you are no longer the owner of your coins, but the bank is. It's pretty much the same as when you allow an exchange to hold coins on your behalf.

Using a hardware wallet such as the Ledger Nano S is perfectly fine when it comes to storing your coins. It's small enough to hide it pretty much anywhere inside your house, and even if someone manages to find it, there is still a PIN they need. The recovery seed requires no effort to hide effectively.
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July 05, 2019, 07:25:59 AM
 #76

The safest way to store a big amount is always a hardware wallet. But still you can diversify the storage based on how offen you use(trade) those funds. Like the funds you have just holding for a long time should definitely be stored in an hardware wallet. Other funds that you generally use for trading purpose can be stored on online wallet or in other top bitcoin wallets.
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July 05, 2019, 11:16:05 AM
 #77

I only store cryptocurrencies on a hardware wallet. In any case, it is safer than other types of cryptocurrency wallets!
My wallet is Ledger, I like it! Good luck to all
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July 05, 2019, 11:51:55 AM
 #78

In my case, I store my BTC in hardware wallet as well, I believe there are a lot of good hardware wallet to where you can store you coins it depends on what works on you. In my opinion, don’t store them in just one wallet because as what you have said what if the wallet will be gone so you can divide it and store them in different hardware wallets just make sure to choose the best one there is, ledger being one of them - it has good reviews and it’s safer.
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July 05, 2019, 12:45:26 PM
 #79

A hardware wallet will not solve the security problem of storing your funds 100 percent. But it’s still safer than storing it on a computer. Personally, I use a regular wallet. Just trying to pay more attention to safety.

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July 05, 2019, 02:04:45 PM
 #80

The most popular and safe method to store high amounts of Btc is a hardware wallet. (Ledger Nano S, Trezor etc.)

Another cheaper option that offers about the same security is a paper wallet, but you need to take care of where you store the "paper".

I bought a Ledger Nano S last year and I'm very happy with this investment.

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July 05, 2019, 03:11:02 PM
 #81

The most popular and safe method to store high amounts of Btc is a hardware wallet. (Ledger Nano S, Trezor etc.)

Another cheaper option that offers about the same security is a paper wallet, but you need to take care of where you store the "paper".

I bought a Ledger Nano S last year and I'm very happy with this investment.
Hardware wallet is indeed safer than most of desktop wallet out there but if it is always connected to the internet I don't think it is any safer than paper wallet.
But if the hardware wallet is only connected as you need it and you are always taking care of your device so that it won't be infected with malware than could automatically change your address into the hackers' then it is fine.

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July 05, 2019, 03:23:15 PM
 #82


the best solution for me at least would be this 3 wallet 2 hardware wallet a nano s ledger and a trezor, the third one almost never to use a paper wallet...



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July 05, 2019, 03:23:50 PM
 #83

i have no idea why those hardware wallets are expensive that much.if you are poor like most of us is the best way use incredible hard password and use different passwords for mail and exchange.and ofcourse 2fa.

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July 05, 2019, 03:27:52 PM
 #84

Always make a back up wallet for your funds. Don't put all your bitcoin in single wallet although hardware wallet is safe much better to have a paper wallet. In over all it is still depends on how you will take care of your bitcoin.

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July 05, 2019, 03:29:13 PM
 #85

The most popular and safe method to store high amounts of Btc is a hardware wallet. (Ledger Nano S, Trezor etc.)

Another cheaper option that offers about the same security is a paper wallet, but you need to take care of where you store the "paper".

I bought a Ledger Nano S last year and I'm very happy with this investment.
^ Technically you were right if that wallet is open source then your bitcoin will be fine and safe to store and nothing to worry. Just keep your seed phrase safe including the password and write it into a piece of paper and place into a safe place. I may advise if you have a big amount of bitcoin use 2 wallets and split it into two. Why? Because I believed on sayings that "Don't put all your eggs in one basket if you don't want to lose it all". Cheesy

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July 05, 2019, 03:34:26 PM
 #86

A hardware wallet will not solve the security problem of storing your funds 100 percent. But it’s still safer than storing it on a computer. Personally, I use a regular wallet. Just trying to pay more attention to safety.

If you take the adequate security precautions (2FA, email authentication.etc), then an online wallet such as Blockchain.com can give as much safety as a hardware wallet like Trezor or Ledger. But one advantage with these hardware wallets is that they are also capable of holding a large number of altcoins, in addition to Bitcoin. Blockchain.com on the other hand only supports BTC, BCH, ETH and XLM.

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July 05, 2019, 03:47:33 PM
 #87

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
Your idea of storing your BTC in different wallet is the best decision to minimize risk. I think it is safer and more convenient to just use 5 different laptops to avoid confusion and to be more focused on keeping fewer laptop safe from getting destroyed, also when your house gets on fire, you won`t be carrying 15 laptops.
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July 05, 2019, 04:17:31 PM
 #88

A hardware wallet will not solve the security problem of storing your funds 100 percent. But it’s still safer than storing it on a computer. Personally, I use a regular wallet. Just trying to pay more attention to safety.


Exactly, there is no solution that is 100% safe and secure and people need to be aware of that. Combination of multiple types of wallets, among other hardware wallet is good option. Still without awarness that everyone is responsible on his own for coins and that is needed to be precautious people will still lose their coins.

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July 05, 2019, 04:35:28 PM
 #89

I have heard about credits the unique system of building a blockchain allows you to build financial services with high speed transaction processing up to 1 million per second and average speed transaction processing in 3 seconds. I think it truly opens up new opportunities to use the blockchain technology in the financial sector.
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July 05, 2019, 04:38:54 PM
 #90

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

Of course not, I think hardware wallet is the safest device to store Bitcoin especially if you have such a large amount. Moreover, the system in the wallet hardware can also be accessed if you have a copy of the Private Key. So if you lose it you can still recover with another hardware wallet or with your computer

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July 05, 2019, 07:17:42 PM
 #91

There is such a very wise expression, when even a stick can shoot at least once in a lifetime.  This proverb can also be applied to the security of a hardware wallet.  Based on this, it is not necessary to store all the eggs in one basket.  It is best to have several wallets and distribute all your coins into these wallets ..

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July 06, 2019, 03:32:07 PM
 #92

never understood the spreading of your coins between several wallets
store your coins safely in an offline wallet or a hardware wallet , dividing your coins between 2 or more wallets increases the risk of losing them , not adding to security
use a hardware wallet or a DYI hardware wallet aka old laptop with hdd hard formatted and a clean OS installed with ONLY a wallet installed  and nothing else and once the coins are in , disconnect it from the web and never use for anything other storing the coins
15 bitcoins is not an amount of money to lose sleep over it is only 165.000$ , unless you compromise your device yourself or simply lose the wallet or forget the private keys you won't risk losing your bitcoins

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July 09, 2019, 11:11:45 AM
 #93

I think if you want to safe your big amounts of btc, just use wallets that most trusted that no one can hard to hack. There are some types of wallets we can use to store but it depends on you if you choose hardware, and the other amount of your btc will put on online wallet. And its your choose if what you think is most safer wallet.

No wallet is safe if the user won't secure it properly even if they use those ones that are already trusted. If you have a large amount of btc, it's better to divide it into multiple wallets to prevent losing it in an instant. Just don't trust anyone even if your family to gain access on your wallet.

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July 16, 2019, 08:39:43 AM
 #94

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.


Like lending new technology, there are loans related to digital currencies. You value the risks and make sure you do ways to protect yourself and your money.
-Here are the steps you must take to safeguard yourself.
-Always make sure the site address you are visiting is correct and not a fake site
-Use two-factor authentication in all Bitcoin wallets and your email address
-Use a password manager program
-If you use a Gmail account, do a security check
Know in depth before investing in anything. If the promised benefits sound too good to be true, chances are it's just an illusion / fraud. Also check Bad List at badbitcoin.org. If your investment company is here, that means they are fraudsters.
and another thing is Never store large amounts of Bitcoin on the Exchange website for a long time, because the wallet provided by the Exchange site is basically their wallet address especially if the wallet has a generate feature (making a new wallet) then you can be sure the Bitcoin will lost. To save a large number of Bitcoin balances and in the long term you should use a wallet from a wallet service provider.

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July 16, 2019, 08:49:15 AM
 #95

It depends on whether or not you want to store them inline or offline. Online storage of large amount of BTC or any crypto is not advisable. You could generate multiple addresses and split it for starters using cold wallets with their details stored in a safety deposit box in a bank. Its  money after all.

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July 16, 2019, 09:29:32 AM
 #96

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
I think two should be enough because the more wallet you use it could tend to confusion, especially on code or passphrase. By the way, I like the idea of putting your coins in a different wallet in order to lessen the risk of wiping all of it in case. And much better if you will use a hardware wallet Trezor or ledger.

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July 16, 2019, 10:16:09 AM
 #97

In my opinion, offline storage is the most safe, I recommend to invest in cold wallet
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July 16, 2019, 10:58:37 AM
 #98

In my opinion, offline storage is the most safe, I recommend to invest in cold wallet

imo cold wallet are the best and safest option. i don't know you heard about Bitmarket which suddenly closed down, users lost all money because they had held their money on exchange...
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July 16, 2019, 11:36:35 AM
 #99

Use hardware wallets.Its more secure than anything.Which stores the user's private keys in a secure hardware device.
    Ledger Nano X
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Different bands different prizes.Read reviews and get what you like ..Google it.

But securing that hardware wallet is up to you.Keep that safest place


If you want to know more about hardware wallets
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July 16, 2019, 12:42:00 PM
 #100

In my opinion, offline storage is the most safe, I recommend to invest in cold wallet

imo cold wallet are the best and safest option. i don't know you heard about Bitmarket which suddenly closed down, users lost all money because they had held their money on exchange...

You have only yourselves to blame if you store the coins in exchange wallets and then lose them. More than 80% of the crypto-exchanges have been hacked at some point of time, and this includes all the major ones such as BTC-e/Wex, Mt Gox and Binance. The only scenario in which I would consider storing some of my coins in an exchange wallet is if the desktop wallet for that particular altcoin is very heavy and if the net worth is lower than $100.

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July 16, 2019, 02:14:38 PM
 #101


You have only yourselves to blame if you store the coins in exchange wallets and then lose them. More than 80% of the crypto-exchanges have been hacked at some point of time, and this includes all the major ones such as BTC-e/Wex, Mt Gox and Binance. The only scenario in which I would consider storing some of my coins in an exchange wallet is if the desktop wallet for that particular altcoin is very heavy and if the net worth is lower than $100.

It could still somehow be part of the responsibility of the exchange team themselves for the maintenance or security of the site actually, although most of it would be pointed to the users themselves because it isn't really recommended to store your coins in exchange wallets. It wouldn't be just building a village and letting these invaders in that easily. The team should still need to provide the support for those who were affected by hacks. I think Binance had recovered quite okay when it was just hacked recently this year

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July 16, 2019, 02:30:31 PM
 #102

I am yet to get a hardware wallet because I don't have enough bitcoin yet that will be giving me cause for concern, when I am finally ready, I will go for 2 hardware, one will be for storing for future use, which will never come online, while the other will be for intermittent sending online.
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July 16, 2019, 02:51:49 PM
 #103

Storing bigger amounts of BTC is surely a risky job. A slight mistake and you might lose all your coins.
While the best option to store coins would definitely be a hardware wallet, it is still risky to secure the hardware wallet.
You can still keep the seed of the hardware wallet in multiple safe locations though. Also, you can use Mycelium wallet and store your bitcoins in it.
You can then store the seed in safe locations and never worry about maintaining a hardware wallet separately.

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July 16, 2019, 03:09:54 PM
 #104

If I only use one wallet, that is enough, but I will keep the private key of my wallet properly.  If necessary, I note it in the paper book.  The second is that I definitely complete my wallet with 2 Factor Authentication (2fa).  I think it's safe enough to save 15 BTC.

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July 16, 2019, 03:17:14 PM
 #105

Air gap your devices and don't use them for anything (no email, no texts, chat, etc.... nothing in so there is no malware link possibility) but btc storage.    On the rare occasion that you connect (to move coins in or out), use a VPN.   You should already be using a VPN full time anyway.    

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July 16, 2019, 03:50:48 PM
 #106


You have only yourselves to blame if you store the coins in exchange wallets and then lose them. More than 80% of the crypto-exchanges have been hacked at some point of time, and this includes all the major ones such as BTC-e/Wex, Mt Gox and Binance. The only scenario in which I would consider storing some of my coins in an exchange wallet is if the desktop wallet for that particular altcoin is very heavy and if the net worth is lower than $100.

It could still somehow be part of the responsibility of the exchange team themselves for the maintenance or security of the site actually, although most of it would be pointed to the users themselves because it isn't really recommended to store your coins in exchange wallets. It wouldn't be just building a village and letting these invaders in that easily. The team should still need to provide the support for those who were affected by hacks. I think Binance had recovered quite okay when it was just hacked recently this year

Binance users were lucky, because the robbery was detected while it was still in progress. The staff moved in quickly and froze the wallets before a lot of the coins could be transferred to the mixers. Probably the hacker team was not large enough to steal coins from large number of wallets simultaneously. But this doesn't guarantee anything. One thing is very clear. Binance can be hacked and it has serious flaws as far as the security is concerned.

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July 16, 2019, 04:01:36 PM
 #107

Air gap your devices and don't use them for anything (no email, no texts, chat, etc.... nothing in so there is no malware link possibility) but btc storage.    On the rare occasion that you connect (to move coins in or out), use a VPN.   You should already be using a VPN full time anyway.    

you mean using a phone as a kind of cold storage ? well thats also a cool idea  .

 using vpn is also a good idea to keep your ip hidden but this does not protect your device on malwares and viruses that can potentially stole your coins  , its still advisable to use an anti virus and scan the device before and after you transfer coins  .

hardware wallets is a nice lternative next to cold storages  and they are less hassel because they are only tiny but they are more powerful and secure  .

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July 16, 2019, 04:54:48 PM
 #108

No matter what you do please realize that there will always be a risk of your stuff being stolen and you may even be kidnapped.  No system is ever 100% safe and all you can do is prepare for the worst and hope for the best.
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July 16, 2019, 05:23:00 PM
 #109

For those with a reliable platform, bulk storage is absolutely no problem, even to be safe you can completely divide it into 2 to 3 parts in different wallets, I think the thing That is the best.

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July 16, 2019, 07:10:40 PM
 #110

You Can use hardware wallet to safely store big amounts of Bitcoin.
Ledger is one of safest hardware wallet.
I also use ledger wallet

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July 16, 2019, 07:32:15 PM
 #111

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.

The beauty of Bitcoin is that you store "big" amounts exactly the same way you would with "small" amounts, so practice with a few satoshis:

Make a (cold) paper wallet.


I have written about this countless times, it basically involves a secure computer, it can even be disconnected from internet, using a secure operating system, preferably not installed, booting of optical media or usb thumbdrive, then create a wallet, which for speed purposes i tend to recommend the spv one, write down by hand a dozen words in a piece of paper that you have to keep very safe and away from anyone seeing or harming, preferably make (also manually) a second copy, and print your wallet addresses. After you finish this process you turn off the computer and end with a paper wallet that nobody can ever hack, unless they get hold of the 12 words.

Technically i would advise booting the Linux Distro TailsOS, and there use Electrum, to create the wallet.

You will rarely ever touch this wallet again, but when you do want to move funds from this wallet, you repeat the process like when you created the wallet, boot pc, open Electrum, but instead of create you will restore a wallet, using those words you kept real safe, do your business and shutdown.


The shutdown is important, because unless you haven't noticed, everything you did goes poof, except the existence of that wallet (priv keys) in the Bitcoin network.

You can play with hardware gadgets if you want, but they are not worth unless you are constantly using it to move funds. You could have such a device for smaller amounts and keep the big sum in the cold wallet, and always follow this protocol when handling it.

With Bitcoin, you are your own bank. Take it seriously, no excuses. Transactions are final, remember that.


If you are familiar with different OSes and wallets, be my guest. Technically you could use something like OpenBSD and the true Bitcoin core wallet running a node as well. Just please, for the love of God, stay away from Windows, OsX, Android and the like for the purpose of creating cold wallets intended to store important sums.

Yes, its intentional, don't use your favorite games and pleasure OS for serious business. 10+ BTC is serious and we have countless people coming to this forum crying over lost funds my making simple mistakes, thinking somebody can help them when its too late...



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July 16, 2019, 08:56:17 PM
 #112

Hello,

Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?

Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?

Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?

I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
I think you just need to create a separate wallet for each of your bitcoins. For example, one bitcoin is stored on the Trezor hardware wallet, another bitcoin on ledger, the third on bitcoin core, the fourth on electrum and so on. I hope the wallets are enough.

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July 16, 2019, 10:11:05 PM
 #113

It's best to save your bitcoins on a hardware wallet and make sure to keep safe the private key or pass phrase whichever it maybe. Saving your bitcoins on numerous hardware wallets it not the issue but rather saving your keys safely and making sure nobody has access to it. Also you can use code language to write it out, that way if someone gets hold of it he/she would still not understand it.




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July 16, 2019, 10:28:35 PM
 #114

It's best to save your bitcoins on a hardware wallet and make sure to keep safe the private key or pass phrase whichever it maybe. Saving your bitcoins on numerous hardware wallets it not the issue but rather saving your keys safely and making sure nobody has access to it. Also you can use code language to write it out, that way if someone gets hold of it he/she would still not understand it.
It is good to have multiple wallets where to store BTC and keep all private key safe which is important to have access on it and wont share it to anyone but only for one you trusted your fund. Rather store some on the banks also though small interest there might keep it much longer.

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July 16, 2019, 10:43:11 PM
 #115

To store large amounts of Bitcoin I often use hard wallets because I now believe that it is the safest way to store Bitcoin and other coins. The thing to do is to store your private key carefully as well as your hard wallet to avoid having to buy another hard wallet if it's lost.

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July 16, 2019, 11:54:23 PM
 #116

I help you choose option 2. Save your bitcoin, it seems I trust and use trezor and Bitcoin Core, always remember your key. Each wallet should store 3 BTC and should not be placed on the same computer. I worry about virus intrusion from the computer.

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July 17, 2019, 12:02:58 AM
 #117

Don't use wallets like Jaxx and Exodus, they are not open source, you never know what's going behind the scenes and If they have access to your funds or not.
Lol, I've tried both of those wallets and found them to be crap anyway.  As far as storing large amounts of anything on either one of those, screw that.

I recently bought a Ledger Nano S with one of those steel wallets where you put in the seed words.  It's great because I can store that separately from the actual Ledger and if the Ledger burns up in a house fire or gets stolen, I still have the seed phrase to recover my coins.  Plus I have the words written down in another secure location.  If that isn't secure, I don't know what is.

Please note, don't bumrush my house with robbery on your mind.  I got the Ledger just to play around with it, and I don't have a lot of crypto stored on it (or even that much in general).  Heh heh.

To store large amounts of Bitcoin I often use hard wallets because I now believe that it is the safest way to store Bitcoin and other coins. The thing to do is to store your private key carefully as well as your hard wallet to avoid having to buy another hard wallet if it's lost.
Yeah, as long as you keep the private key secure you should be good to go.  The good thing is that you can make duplicate copies of your key(s) and keep them in separate locations.  The question is how secure can anything really be?  You can't completely prevent theft ever if someone is determined to steal what you've got.

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July 20, 2019, 01:23:07 AM
 #118

Everything can happen, even if you will store it in 3 hardware wallets and once your house will be on fire then all of it will gone.

Online wallets are not 100% safe but you have no other option but to trust their security whatever wallets you would like to use as you are engaging in crypto world in which risk is always there. You have the option already, so it's up to you what you would like to use. But it's better that you will put it to 2 hardware wallets, 4btc each and the remaining will be in online wallets.
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July 20, 2019, 09:56:17 AM
 #119

I think that can be share on 3 hardware wallet. Not a bad idea. And hide these wallets in different places. Hardware wallet is the best solution for storing bitcoins

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July 20, 2019, 10:26:16 AM
 #120

Yes I am going to agree to your idea. For me if you hold 15BTC it is good decision if you will use 5 wallet to more secured investnent and holding of your coin. Because all we know that there is too much knowledge that hacker and scammer that they have so if the time that they hacked your account or wallet not all your coin will be take. I think it is more safe.

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July 20, 2019, 04:26:31 PM
 #121

It's best to save your bitcoins on a hardware wallet and make sure to keep safe the private key or pass phrase whichever it maybe. Saving your bitcoins on numerous hardware wallets it not the issue but rather saving your keys safely and making sure nobody has access to it. Also you can use code language to write it out, that way if someone gets hold of it he/she would still not understand it.

If you have a lot of bitcoins its better to split them between hardware wallets, desktop and online wallets. Keeping your funds in different wallets will make the chances of losing funds much less.  People often recommend to store bitcoins only in one hardware wallet. I do not recommend this.

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July 20, 2019, 04:28:57 PM
 #122

using wallet hadrware I think is the best choice for storing large amounts of BTC assets. because now the risk of hacking against BTTC is very high, so I think this might be one of the best ways.

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July 20, 2019, 04:36:06 PM
 #123

As I think the best thing to do is, Using a Hardware wallet for store our token. Especially, because it has a very good security system and it such a valuable thing to us in that field. Personally, I already have a ledger wallet and I already stored my all tokens in that ledger wallet. Actually, it's really worth me and I believe hardware wallet is a great way to store our BTC and other tokens
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July 20, 2019, 10:15:52 PM
 #124

How much btc would you say is a big amount?  Even 1 btc now is a big amount to most people right?  I mean 0.5 btc is still over 5k usd.


I'm curious but are there many ppl that kept btc in wallets like electrum and jaxxx and those other wallets when btc got really high and say they had like 5 btc there or more?  I assume there had to been quite a lot of those ppl right?  Since when btc was around the 250 mark, i mean everyone kept btc in electrum or paper wallet or exchange right?
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July 20, 2019, 10:56:45 PM
 #125

Two should be enough in my opinion. One of storing and one for recovering in case something happens to the first device.

Don't use wallets like Jaxx and Exodus, they are not open source, you never know what's going behind the scenes and If they have access to your funds or not.

Store everything in one device, write the seed down in multiple pieces of papers and hide them in different locations. If the hardware wallet gets lose or damaged, you could use the seed to recover your coins.
Store bitcoins in a ledger or hardware wallet. That is the most secured place in bitcoin. Using electrum wallet is also as well as local wallets. However, we need to assure that our PC or gadget don't have any virus that can be a tool to intercept our wallet or data. Having a seed is a backup plan in case the wallet was missing. That is why seed is important.

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July 20, 2019, 11:29:04 PM
 #126

I store bitcoin at coins.ph the wallet that exist in my country. I store it in my digital phone only because I am just a small earner. However, f I received the payment to my recent bounty campaigns, I think I will decide to install or buy hardware wallet. But as of now, I am only focusing on the security of my phone where I can avoid phishing sites.

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July 21, 2019, 03:23:08 AM
 #127

I think you can feather them out .
Choose a hardware wallet , a paper wallet , an offline wallet with very good reviews .
Divide them ,
Store that amount separately and make sure to keep Google authentication on and your private keys hidden .
You can just buy a bank safe too and then submit your personal documents there .
Documents consisting of the paper wallets .
I think with this big amount you can decide what to hold and what to keep so the holding one can directly go into the safe and the other half can just be transferred into some offline wallet used for trading regularly.



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July 21, 2019, 03:33:51 AM
 #128

Yes I am going to agree to your idea. For me if you hold 15BTC it is good decision if you will use 5 wallet to more secured investnent and holding of your coin. Because all we know that there is too much knowledge that hacker and scammer that they have so if the time that they hacked your account or wallet not all your coin will be take. I think it is more safe.

This is going to be counterproductive. If you split your holdings in to five wallets, then you need to maintain different 2FA for these wallets, and it is not going to be an easy thing. There are chances that you may forget the wallet password or the transaction password, and your coins will be lost. My advice is to hold the coins in just one wallet (or a maximum of two) and take all the necessary security precautions.

BTW, if you have 15 BTC, then it is always better to spend a small amount ($100 or $200) to purchase a hardware wallet. 15 BTC is worth more than $150,000 as per the current exchange rates. The cost of a hardware wallet is less than 0.1% of that amount.
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July 21, 2019, 06:33:38 AM
 #129

Storing your money in different storage is good but I think you will be confused with so many phrases on it. The best place to store your Bitcoin is on the Hardware wallet like Nano Ledger or Trezor because you are in control of it (keys or words). Wallets which doesn't have any words to recover are the ones you avoid because you don't know what can happen to your money if you store it on that wallet.

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July 21, 2019, 06:38:23 AM
 #130

How much btc would you say is a big amount?  Even 1 btc now is a big amount to most people right?  I mean 0.5 btc is still over 5k usd.


I'm curious but are there many ppl that kept btc in wallets like electrum and jaxxx and those other wallets when btc got really high and say they had like 5 btc there or more?  I assume there had to been quite a lot of those ppl right?  Since when btc was around the 250 mark, i mean everyone kept btc in electrum or paper wallet or exchange right?

People still keep their BTC in Electrum and Paper Wallets.

There is nothing wrong with a paper wallet as long as you generate it correctly, basically offline. And destory the printer or USB afterwards which showed the private key.

Same with Electrum, you can use it safely as long as you use it as cold storage and keep your keys on an offline computer which is never connected to the internet.

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