How to safely store big amounts of BTC?

[elsniper]

Better use non-custodial wallets if you have no opportunity to buy a hardware one.

[Artemis3]

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.

That's rather silly. What destroying? You must never print, scan, take pic, or digital copy (ctrl c) the seed words, ever. As for "USB", if you used a live distro from a dvd, there is no writing anywhere, if you are ultra paranoid. But booting an iso from an usb stick usually won't write to it unless you made the persistence thing or some extra partition.

Keeping the seed words you wrote with your own hands in a piece of paper secure is the most critical part. People should not be handling private keys directly for various reasons, which is why the old concept of paper wallet should be avoided. Just store and protect those seed words, nothing else matters.

The process is identical for 1 satoshi or thousands of bitcoin. Practice with a satoshi and when you are confident do it with your fortune.

[everlyn]

I'd use 2 hardwallets storing them in different places. Learn seed phraise by heart and never write it down.

[jerry0]

You remembered your 12 or 24 phrase by heart?  That is insane.  Even 12 words is too hard.  So you never wrote it down on paper? 



Also where do you all keep your private key seeds for your hardware wallet?  That should be the bigger question here.  Because if you buy the ledger nano s or trezor, you have hardware wallet and protection against hackers/malware.



Do you break the private key of 12 or 24 words into 2 parts?  Do you keep 2 or even 3 copies?  Do you keep them inside house or apartment?  Of course if there are things like fire or etc, then what is your backup?  Its like you need 2 backup places?  Such as maybe keep your private key in your house or apartment and break it down in a few parts?  Then break it into 2 parts and put it into 2 different safety deposit boxes?  That way if a thief got access to one deposit box, well it would be very hard to get to the other one?  I heard of safe deposit boxes getting drilled ... but if you have it in 2 different boxes or even 3... then that should be safe?

[Decimation]

You remembered your 12 or 24 phrase by heart?  That is insane.  Even 12 words is too hard.  So you never wrote it down on paper?  

The whole point of mnemonics is that they are a lot easier to remember than random letters and numbers. Memorizing 1 long mnemonic is a lot easier than you would think. The trick is to practice it and then associate each of the words with pictures in a story. The human mind and memorize impressive amounts of data by relating them to real world objects in a sequence.

A quick example:

seed manager donkey

Using a story:

I asked the manager if I could buy some seeds so that I could feed my donkey.

You can see how it can make things much easier to remember using this method.

[jerry0]

I understand that with 3 words.  But 12 words?  24 words?  That would be insane.


Are there ppl that really remember 12 word seed and 24 word seed? 

[Dreamchaser21]

I understand that with 3 words.  But 12 words?  24 words?  That would be insane.


Are there ppl that really remember 12 word seed and 24 word seed? 

Yes of course, it is still possible to remember that words but it will still depend on your strategies on how to memorize it. Honestly, you don't need to memorize it you just need to write it down on a piece of paper and put that on a safe place. If you want to invest big money then you should put it on a hard wallet and save everything especially your private keys.

[Pamadar]

I understand that with 3 words.  But 12 words?  24 words?  That would be insane.


Are there ppl that really remember 12 word seed and 24 word seed? 

Yes of course, it is still possible to remember that words but it will still depend on your strategies on how to memorize it. Honestly, you don't need to memorize it you just need to write it down on a piece of paper and put that on a safe place. If you want to invest big money then you should put it on a hard wallet and save everything especially your private keys.

The simplest way to protect your investment is to do the very basic, write down the phrase then keep it inside the safe vault. The same way on how you protect your physical fiat, for sure you'll not let your money be seen by someone and tempt them to do something that can harm the both of you. Keeping it off the eyes of possible threat will ensure and lessen the possible problem.

[killat]

No matter how much amount of Btc you hold, you don't need more than one single hardware wallet.

If you lose it or it's been stolen, you can easily recover it from the seed words, so why bother with buying multiple hardware wallets? I would rather focus on how to keep the safest way the recovery seed, this is the most important part of keeping your funds safe.

[Menawi12]

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.

I agree that the safest way to store large amounts of bitcoin is to use hardwallet. Besides we hold control of our assets, Hardwallet is difficult to hack by hackers. Saving bitcoin in a wallet exchanger is very risky because hackers are always targeting exchangers.

[cipherhut]

Bitcoin itself is the safest store and no one can recognize but the only thing that you need to take care of is the exchange you are going to select for the fund transfer. The safest and trustworthy the exchange then security is at your wallet.

[barabarian1]

i dont need many wallet to keep my coin save. what important is how to keep your wallet from various threats.
just check your site always right, of you browse about cryptocurrent. dont forget use 2fa in your wallet, email, and all stuff that relate with your crypto.

[malevolent]

Electrum or btcarmory offline transactions transferred over webcams is currently what I would call the safest option of the user-friendly options for storing and spending bigger amounts of bitcoins. Hardware wallets are pretty safe too (nowadays, at least Trezor and Ledger) and they can be recommended to newbies due to their ease of use.

As I remember, you can recover your assets if you'll lost a hardware wallet. But better ask Ledger's or Trezor's support.

So long as you have your recovery seed.

[94K]

There are lots of wallets used to safely store big amount of tokens. Wallets like offline wallets and ledger just to mention a few are some of the wallets you can use to keep your tokens safe.

[Kidmat]

There are lots of wallets used to safely store big amount of tokens. Wallets like offline wallets and ledger just to mention a few are some of the wallets you can use to keep your tokens safe.

Yes a lot of wallet to store our btc and I am using ledger wallet. The best part when safely store btc is to always keep safe the seeds or phrase once it lost it will not recovered.

[coinbitte]

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'd store them on offline devices.

[Spaffin]

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'd store them on offline devices.

According to surveys, many users agreed that it is best to store their Bitcoin in hardware wallets, which should be new and purchased from the manufacturer, and it is best to have several hardware wallets to avoid any risks.

[EdenDice]

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'd store them on offline devices.

According to surveys, many users agreed that it is best to store their Bitcoin in hardware wallets, which should be new and purchased from the manufacturer, and it is best to have several hardware wallets to avoid any risks.

You are right! many people buy hardware wallets from Amazon, which s a bad decision I think! Only the official source should be followed. Another thing is, buying several hardware wallets is another good decision to keeps safe big amount. Sometimes our nearest people can betray or sometimes we can lose the seed code too.

[Rinso]

i dont need many wallet to keep my coin save. what important is how to keep your wallet from various threats.
just check your site always right, of you browse about cryptocurrent. dont forget use 2fa in your wallet, email, and all stuff that relate with your crypto.

but i think 1 wallet is not enought. is like "dont put all your egg in one bag". for me i think we need 3 wallet for extra safety

[erricducducan26]

Have you ever tried paper wallets? Cheap and secure.