How to safely store big amounts of BTC?

[Msworld83]

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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[coolcoinz]

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.

[littleheart]

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.

[xSkylarx]

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.

[Bitmore1]

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.

[jerry0]

Do most ppl have 1 hardware wallet or 2?

[Malvika_sitlani]

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/

[Trangtkhd2709]

 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

[Austin_Lord]

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..

[Vishnu.Reang]

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.

[indrakusumaindra]

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.

[AjithBtc]

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.

[1Referee]

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.

[Cloi_eth]

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.

[Maxon111]

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

[Rufsilf]

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.

[puertorikosena]

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.

[killat]

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.

[TastyChillySauce00]

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.

[bitcoin-shark]

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...