How to safely store big amounts of BTC?

[alroys]

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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[Dapper]

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.    

[Vishnu.Reang]

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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.

[imstillthebest]

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  .

[angel55]

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.

[longtkhd]

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.

[Swopon]

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

[Artemis3]

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...

[Glutius]

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.

[hahahafr]

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.

[Naughty Princess]

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.

[marine4u]

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.

[The3max]

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.

[The Sceptical Chymist]

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.

[M0neyGrabb3r]

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.

[Pyr3x]

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

[jazmuzika217]

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.

[FIFA worldcup]

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.

[Iceblast]

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.

[Naweedhamid]

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