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Author Topic: How to safely store big amounts of BTC?  (Read 11858 times)
Naughty Princess
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September 14, 2019, 11:59:55 AM
 #201

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


Yes, if I had such an amount I would hold it on different resources partly, of course it is better to use for this the separate device that is not used for different things like Internet or social networks. It is better not to keep the information about your keys or something like that on your gadgets at all and be extremelly attentive while trading. The security of your gadget should be strong enough and it is better to pass through the authentification.
I agree to not keep big amount on just one account, it is more advisable to use multiple account and do not used the same account with trading account because that is very cautious. Use strong security on the gadget and also keep the keys where you can easily access and make it have a multiple copy because forgetting the keys wont have any recovery.

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November 29, 2019, 02:48:04 PM
 #202

If I have a large amount of BTC, I will break it down into many wallets. Each wallet will connect to a separate USB to be able to store key keys safely to prevent hackers from entering

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November 30, 2019, 05:31:32 AM
 #203

Different wallet is better to store big amount BTC but you have to definitely use a hardware wallet and don't worry because you able to recover it.
"Ledger Nano S" is the best i think any amount store will safe here.

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November 30, 2019, 05:39:47 AM
 #204

Coinbase is one of the best crypto trading platform that offers the secure trading service to the users.
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November 30, 2019, 05:57:38 AM
 #205

If I have a large amount of BTC, I will break it down into many wallets. Each wallet will connect to a separate USB to be able to store key keys safely to prevent hackers from entering

It is suggested that huge amount you have you need different wallets to store it. you know, hackers are everywhere and they are prepared on this kind doings so better to have secured wallets. but for me I don't store huge amount on crypto I don't risk all what I have in crypto. I know it is hard to transfer every time I want to trade but I prefer to do it than to risk it in any wallets and think anytime that it is possible to hack and disappear.

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November 30, 2019, 06:08:10 AM
 #206

If I have a large amount of BTC, I will break it down into many wallets. Each wallet will connect to a separate USB to be able to store key keys safely to prevent hackers from entering

It is suggested that huge amount you have you need different wallets to store it. you know, hackers are everywhere and they are prepared on this kind doings so better to have secured wallets. but for me I don't store huge amount on crypto I don't risk all what I have in crypto. I know it is hard to transfer every time I want to trade but I prefer to do it than to risk it in any wallets and think anytime that it is possible to hack and disappear.


Yeah, though if it's a really big amount, I'd invest on a couple of hard wallets like ledger nano or trezor. I won't risk my bitcoins by keeping them in online storages even if I have the private keys with me. A determined hacker will find ways around your private keys and though the likelihood is small, I'm not risking them to be taken from me.



 
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November 30, 2019, 06:44:43 AM
 #207

Coinbase is one of the best crypto trading platform that offers the secure trading service to the users.
I did not yet tried this platform. But as far as I see the comments and updates regarding with Coinbase, it seems like it is good also. I thought that it was just a wallet who had security features which cannot be intercepted by hackers easily. But in case of storing large amount of BTC I will go for electrum or cold wallets.
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November 30, 2019, 06:55:12 AM
 #208

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.
No matter the amount of btc owned, it is of no use to store them in different hardware wallet. It is better to store them in a single hardware wallet and keep the privately or pass phrase in a safe place. It is advisible to duplicate the keys in numerous paper and safely keep the papers in safe locations. With this you can easily recover your assets even if your hardware wallet get destroyed or missing.

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November 30, 2019, 05:12:39 PM
 #209

Basically, you can simply store a huge amount of BTC in hardware wallet like ledger because it will be much secured that hackers could not easily get access on your wallet to steal all of your funds. Unlike using online wallets it is not that really secured because no system is safe for hackers when your wallet can be access through online.

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November 30, 2019, 11:00:21 PM
 #210

I have experienced an unpleasant incident, my wallet was hacked, my BTC-reward from a contest article was stolen by someone. It was frustrating even though I had installed multiple security for my wallet and email, but the hacker managed to crack it. I do not know, what mistakes I have done so that my account can be hacked, I finally plan to buy a hardware wallet for better security.

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November 30, 2019, 11:35:49 PM
 #211

Basically, you can simply store a huge amount of BTC in hardware wallet like ledger because it will be much secured that hackers could not easily get access on your wallet to steal all of your funds. Unlike using online wallets it is not that really secured because no system is safe for hackers when your wallet can be access through online.
Hardware wallet works because it is too hard to hack , but also you need to activate and install anti malware to your PC so that it wi block all those malicious content to control which software you installed in your device. You may try to save some of it in web too, I think it is good if atleast 20% or 30%  of it is save in an exchange I think use that btc wallet in an exchange to save your money use 2FA and make your password an alphanumeric one.

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December 01, 2019, 12:16:12 AM
 #212

In my opinion 1 wallet is enough to keep your assets safe. I recommend a blockchain wallet because in addition to the high level of security and the occurrence of a scam it is almost impossible because every transaction is stored on the blockchain.

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December 01, 2019, 02:00:45 AM
 #213

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 idea is to store your bitcoin and to be secure not to have lots of laptop, so you have to plan this very carefully,
  • First decide what wallet are you going to use
  • Second now you have decided for a wallet how are you going to secure the wallet
  • Third What are the different ways to backup the wallet to make sure you will have a backup in-case something bad , and i mean really bad happens
  • Fourth look for this features on the wallet that you have selected if they all have the features you are needed
There are lots of hardware wallets now and they all have features it will only depends now on your decision good luck

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December 01, 2019, 02:07:28 AM
 #214

The safest way to store your Bitcoin is to use hardware wallets such as Ledger and Trezor. With hardware wallets, you will always need this hardware to access your Bitcoins, making it safer. And you must also provide physical consent to make transactions. This feature can improve the security, because if there is a hacker who attacks your computer, hackers will not be able to physically press the button on your hardware to give you the approval of the transaction.

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December 01, 2019, 02:19:36 AM
 #215

In my opinion 1 wallet is enough to keep your assets safe. I recommend a blockchain wallet because in addition to the high level of security and the occurrence of a scam it is almost impossible because every transaction is stored on the blockchain.

Your level of security consciousness is good but creating many wallet hardware I won't advise, it may still be detrimental so that you won't still end up loosing the protected when the password becomes too numerous.i will suggest you use a maximum of 3, because you may end up confusing yourself the more.

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December 01, 2019, 05:55:42 AM
 #216

I  think using many wallet is not good for me For me it is good storing it to any kind of hardware wallet using 1-2 wallet only. Hardware Wallet like Trezor or Legder is good in security so that you can use but I prefer only 1-2 only.

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December 01, 2019, 07:42:30 AM
 #217

Might you call me old fashioned but the best way to store is on multiple encrypted paper wallets, backed up to a regular old hard drive which you control and encrypt and never expose to the internet. Then back it up a few times over. Even if found, yours keys will be encrypted with a strong password. This way you are relying on nobody but bitcoins native cryptographic algorithm.

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December 01, 2019, 08:21:53 AM
 #218

Two words:
hardware wallet
Really, this can solve a lot of problems
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December 01, 2019, 10:48:04 AM
 #219

Two words:
hardware wallet
Really, this can solve a lot of problems
so far the hardware wallet has become one of the best places to hold the funds they have, the most important thing in storing data and also when accessing the wallet must be very careful so as not to experience bad events. and the last is to backup data if needed

 
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KnightElite
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December 01, 2019, 12:17:58 PM
 #220

Two words:
hardware wallet
Really, this can solve a lot of problems
so far the hardware wallet has become one of the best places to hold the funds they have, the most important thing in storing data and also when accessing the wallet must be very careful so as not to experience bad events. and the last is to backup data if needed
I bought a hardware wallet and it is ledger nano s which I estimated cost of $60 per each. Even though it is expensive, you can ensure that there is no hacker that can steal your funds but there is also risks, just make sure to buy in their website and not to online shopping like eBay and many more.

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