How to securely store your Bitcoin

[crabby]

Hi Everyone,

Since there will be a lot of new investors coming into the crypto space in the coming weeks. I wanted to make sure I publish an article about how to properly secure your Bitcoin.

I would appreciate it if you shared this article with anyone you know who is getting into cryptocurrency for the first time. We don't want anyone to lose their funds, so security should continue to be the number one priority for educating new investors.

What Is A Crypto Wallet? How To Securely Store Bitcoin

Let me know if you have any questions or comments on the article!

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[goinmerry]

Nice article. A good read for newbies.

But I'm expecting you should also highlight those desktop wallets, even with basic information, just as what you did on the Metamask extension and not just mentioning them.

And since the subject is security and the target audience are newbies, might as well add some pointers about ways to secure an account on an exchange site or trading platforms.

[Charles-Tim]

How to securely store your Bitcoin should completely or accurately be about privacy and security, but your article is more for beginners to just know about bitcoin wallets. Also, I do not see any reason for metamask wallet or DeFi to be included if truly you want the article to fit into this board. In my opinion, you do not really specify on privacy, security and safety which should be your focus. Exodus wallet has never been a recommended wallet on this forum as well.

[joniboini]

Also, I do not see any reason for metamask wallet or DeFi to be included if truly you want the article to fit into this board.

To be fair, the article more or less explains that MetaMask and other web wallets are not reliable when it comes to protecting your funds. But the overall direction of the article is just describing which hardware wallet is good for newbies.

I've found a lot of articles like this, not one of them (at least I don't find it yet) deep dive into the steps of securing the backup, and so on. The main goal is probably trying to get a good SEO score so they can show up on Google search list.

[YOSHIE]

What Is A Crypto Wallet? How To Securely Store Bitcoin

Let me know if you have any questions or comments on the article!

That article, easy to get from internet searches, I thought the topic of a safe wallet for storing bitcoins, oh, it turns out how to store it.

I often see the same topic in this forum, I'm not sure whether the article was followed or not.
Example:

• Topic: GUIDE: Securely storing large amounts of bitcoin (brain wallet/paper wallet)
• Topic: Best way to store Bitcoin safely ?
• Topic: How to keep the BitCoins Safe?
• Topic: Securely Generating Bitcoin Addresses for Users

I think the percentage is very little to read and do as said in the article, generally, people keep their Bitcoin safe depending on where they invest, because we have a community all over the world, so different countries and exchanges have different ways of doing security.

[Charles-Tim]

I've found a lot of articles like this, not one of them (at least I don't find it yet) deep dive into the steps of securing the backup, and so on. The main goal is probably trying to get a good SEO score so they can show up on Google search list.

I have not used metamask wallet before, but I think it does not have any support for bitcoin? Please, correct me if wrong. If it does not have any support for bitcoin, I do not think it should be included if the title of the topic is 'How to securely store your Bitcoin', this is about bitcoin article and not about ether, ethereum classic or ERC20 tokens. I think blockchain wallet, or any other web wallet that support bitcoin will be good this as an example.

[mardaed]

Great article but I think many newbies will appreciate it if you posted it to Beginners & Help since most of the newbies are into that section. There's an option at the bottom that you can move it to that section if you really wanted to newbies to read it.

[Ratash]

Thank you for the article the key to secure the bitcoin in the wallet is either to store them in a hardware wallet where no one can access them online or use the 2factor authentification on the wallet that provides maximum security.

[Untomabur]

storing Bitcoin is good in cold wallets or in ledgers, trezors, and some other decentralized wallets, such as Metamask,
don't let you store Bitcoin in a wallet exchange, it's very high risk of losing your assets, believe me,
Oh and the article is pretty good I like it and agree with you, thank you

[xSkylarx]

There are plenty of ways to store your bitcoin. You can either store it in a hardware or software wallet.
Wherever you store them just remember their private key or passphrase to access them. This is the most important thing to do, if you lost this or give this to someone else then your bitcoin can be stolen or it will be stuck there forever. I've been using wallet apps such as coinomi and electrum for the past 6yrs and so far I haven't lost any bitcoin yet without my awareness.

[Beparanf]

storing Bitcoin is good in cold wallets or in ledgers, trezors, and some other decentralized wallets, such as Metamask,
don't let you store Bitcoin in a wallet exchange, it's very high risk of losing your assets, believe me,
Oh and the article is pretty good I like it and agree with you, thank you

I usually agree on this kind of statement if the user has an advance knowledge on crypto security. But to be fair, there's some pros on using custodial wallet like exchange especially for newbie. It's easy to setup 2FA, SMS and Email security on exchange account rather than storing private key and using it to access non custodial wallet.

On exchange, there is insurance on funds in case exchange suffer from hacking that just ike what happened on binance and kucoin.


So determining the safest place for storing Bitcoin varies base on the level of user knowledge on crypto currency.

[Dsdaq]

Bitcoin can be stored on various types of wallet Hardware wallets
Software wallets
bitcoins are stored in a wallet—a digital wallet. The digital wallet can be hardware-based or web-based. The wallet can also reside on a mobile device, on a computer desktop, or kept safe by printing the private keys and addresses used for access on paper. But most importantly never store your bitcoin on exchange for long and never share your private keys.

[Lucius]

So determining the safest place for storing Bitcoin varies base on the level of user knowledge on crypto currency.

All the wisdom is actually in this sentence, because if someone does not understand some basic things, the safest crypto wallet is in vain because sooner or later they will make a cardinal mistake.

Of course, the best crypto wallet is the one where the user has full control over his private keys, which in combination with adequate knowledge protects that user from all threats that may come from the Internet. This means that they will not fall victim to phishing, that they will not store their seed or private key in an inadequate way (online, e-mail, on PC as text file, on a piece of paper on work desk), or that they will share such information at any time with anyone unknown (stranger on social network).

The general opinion is that the less safe way is to keep your coins online (online wallets, crypto exchanges) because there is always the possibility of phishing (that you enter your login details in the fake site) and of course hacking such services can happen at any time. But if we take the example of a large number of Electrum desktop users who have fallen victim to very wise phishing (via original wallet) then we confirm the fact that ignorance of what we use poses the greatest danger.

[maartenhaha]

I have not used metamask wallet before, but I think it does not have any support for bitcoin? Please, correct me if wrong. If it does not have any support for bitcoin, I do not think it should be included if the title of the topic is 'How to securely store your Bitcoin', this is about bitcoin article and not about ether, ethereum classic or ERC20 tokens. I think blockchain wallet, or any other web wallet that support bitcoin will be good this as an example.

You are right, metamak has no support for bitcoin and in general metamask is a wallet for ether, maybe it is WBTC, lol. If this discussion leads to the security of Crypto assets it might be worth posting it on the altcoin discussion board.

[shield132]

The general opinion is that the less safe way is to keep your coins online (online wallets, crypto exchanges) because there is always the possibility of phishing (that you enter your login details in the fake site) and of course hacking such services can happen at any time. But if we take the example of a large number of Electrum desktop users who have fallen victim to very wise phishing (via original wallet) then we confirm the fact that ignorance of what we use poses the greatest danger.

Phishing is user's problem, it means that they are careless, forgetful and not with high IQ when it comes to the safety of their money. Phishing in this case looks like paying of $150 in Abibas instead of Adidas. If you are so careless, then nothing can help you. But the actual problem is that exchanges suggest people to save their money on exchanges, for example, Binance often suggests that and people usually consider their advice. Then it happens as these exchanges get hacked and money is stolen from users accounts and in most cases they don't plan to compensate the lost money.

I love the slogan: Not your keys - not your coins!

[Question123]

It is good and very helpful that you created a article about how to secure your bitcoin. We know there is a lot of hackers who wants to stole our bitcoin so we need to keep our coins to avoid losing it .

Hackers is smart they will know how the others people get the identity they use different ways to get the details of the wallet so we really needed to know what to do to our wallet , where we save it and how we can sure that our wallet is really safe.

Im holding my bitcoins to my trusted wallet and Im sure it safe and all the details will not see the others except to me.

[GeorgeJohn]

I think it will be very interesting having such article so that it will enable people to protect their crypto without lost, hoping that the article will yield positively in bitcointalk community, especially the new users and even in general, irrespective that Scam's, hacker will also have their own method of decoding everything from their own article as we are trying to derives a way to protect or secure our wallet's due to avoid of Penetration of unknown user to access our wallet, Shall it's really a welcomed development if really it will as expected.

[BrewMaster]

Im holding my bitcoins to my trusted wallet and Im sure it safe and all the details will not see the others except to me.

but how are you sure?
you are using a wallet that to my understanding from the research i did is closed source. so you have no way whatsoever to know if your funds are safe and not being broadcasted to the wallet creators or worse.

[sunsilk]

The article mentioned three wallets. Metamask, Ledger Wallet and Trezor. There are other two hardware wallets that I know KeepKey and Coldcard. I haven't used any of those but they're also being suggested in some websites like bitcoin.org.

Im holding my bitcoins to my trusted wallet and Im sure it safe and all the details will not see the others except to me.

Did you just said bitcoinS? you're better holding that with a hardware wallet.

[Zalfa_mui]

If you have a lot of assets, you should store it in a really safe wallet, for example, trezor, because now many hackers are targeting crypto players, so the security of the wallet is very important.  incidentally my assets are only a few so I only trade on the exchange and the results I immediately changed to fiat.