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Author Topic: Which wallet is safe for keeping large amount of btc?  (Read 324 times)
Usmankk202 (OP)
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March 14, 2022, 07:25:13 PM
 #1

Is any hardware or software wallet which is safe to keep large amount of BTC safe and secure?
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March 14, 2022, 11:46:29 PM
Merited by 1miau (1)
 #2

You can use electrum. It's an open-source wallet. Of course, it's not that your fund is 100% safe if you use electrum.

If you want to keep a big amount of bitcoin completely secure, you should generate the private keys (or the seed phrase) using a secure tool and keep them always offline.
In the case of using a wallet like electrum, you should run that on an air-gapped computer (a device which has been always offline and will be never online) and your private keys (or the seed phrase) should never touch the internet.

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March 14, 2022, 11:54:27 PM
 #3

Is any hardware or software wallet which is safe to keep large amount of BTC safe and secure?
No doubt it's a hardware wallet.  You can find it here, [BIG LIST] Hardware wallets (80+).
Do you know why?  Because it leaves no footprints even in your device used, or even your computer infected with malware.

For a second choice which is free, that has been suggested above, Electrum is good as an alternative to hardware wallets.  All of these are good for storing Bitcoin for a long period of time or as cold storage.

Always remember the golden rule upon storing Bitcoin "Not your keys, Not your coin".

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March 14, 2022, 11:55:19 PM
Last edit: March 15, 2022, 12:27:42 AM by PX-Z
 #4

My always bet is a hardware wallet, nothing else. You can use electrum, already posted above, but you need to secure your device as well unlike hardware wallets that you can use them on unsecured environment, but ofc, you don't need to that just to test.

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mk4
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March 15, 2022, 02:56:20 AM
Merited by Welsh (2)
 #5

tl;dr if you have less than $500, go use Electrum[1] or BlueWallet[2]. on the other hand, if you have more than $500, grab a reputable hardware wallet from either Ledger[3] or Trezor[4].


[1] https://electrum.org/
[2] https://bluewallet.io/
[3] https://ledger.com/
[4] https://trezor.io/

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March 15, 2022, 03:26:24 AM
 #6

Hardware wallet or not it doesn't matter, go with a fully open source wallet since thats the only way to be sure that your wallet is transparent, you need to keep your private keys in a safe location even if you using hardware wallet and that's why I said it doesn't matter which one you go with.

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Despairo
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March 15, 2022, 03:59:18 AM
 #7

Hardware wallet or not it doesn't matter, go with a fully open source wallet since thats the only way to be sure that your wallet is transparent, you need to keep your private keys in a safe location even if you using hardware wallet and that's why I said it doesn't matter which one you go with.
Open source wallet doesn't enough, it doesn't mean the code has been audited 100% and safe. You need to have a deep knowledge about program code in order to understand it, it will better to follow above expert opinions since they've experience and knowing the source of some non custodial wallet.

I have no idea why someone is really careless to protect their private keys, private keys isn't like your username that anyone know there's no problem, it's your password and you need to protect it as good as you can.
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March 15, 2022, 06:01:11 AM
 #8

Is any hardware or software wallet which is safe to keep large amount of BTC safe and secure?
A hardware wallet will be a good place to keep a large amount of BTC because only you will determine when you want to use the wallet and only you will know where the wallet is hidden.
Right now, the hardware wallet price is not too expensive so you can buy one or two and send your BTC to two wallets and keep the passphrase safety in a place that only you will know.
Or you can use a HardDisk with installed Electrum and unplug any internet connection and do not connect it with another device that you do not know so you can make sure that your computer with the HardDisk is really safe.

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March 15, 2022, 07:26:07 AM
 #9

Hardware wallet or not it doesn't matter, go with a fully open source wallet since thats the only way to be sure that your wallet is transparent, you need to keep your private keys in a safe location even if you using hardware wallet and that's why I said it doesn't matter which one you go with.

You've got it wrong. If one's computer gets infected, no matter how clean and open source a wallet is, the funds will be stolen. And a hardware wallet can prevent that.
Also on hardware wallets you don't get private key to store, you get a HD seed (so you don't know what you're talking about and should not give advises before you learn more).
And the seed backup has to be kept offline in multiple (geographically distinct) safe places.

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March 15, 2022, 03:39:00 PM
 #10

Is any hardware or software wallet which is safe to keep large amount of BTC safe and secure?
Both hardware and software wallets are only keeping keys for your coins, so more important thing would be to secure seed phrase backup or private key.
Software wallets are hot and connected to internet so they shouldn't be used for storing larger amounts of funds, for that purpose you can use cold storage.
Easy way for achieving this is with hardware wallets (open source is better option), or you can use separate air-gapped computer as offline storage.

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March 15, 2022, 03:49:51 PM
 #11

As for me hardware wallet is good because it can store large amount of Bitcoin or coins and are  also secured.

Here are some good topic about security and privacy by Ratimov you can check it out.

Good topics on security and privacy
https://bitcointalk.org/index.php?topic=5239098.0
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March 15, 2022, 06:08:06 PM
 #12

You can't go wrong with electrum wallet, mycelium, ledger nano x, open-source and full transparency, so make sure you keep your private key or recovery seed safe.

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March 15, 2022, 06:27:10 PM
Merited by NeuroticFish (2)
 #13

tl;dr if you have less than $500, go use Electrum[1] or BlueWallet[2]. on the other hand, if you have more than $500, grab a reputable hardware wallet from either Ledger[3] or Trezor[4].


[1] https://electrum.org/
[2] https://bluewallet.io/
[3] https://ledger.com/
[4] https://trezor.io/
Then, if you've got a serious amount of Bitcoin, seeking a air gapped, completely offline solution would be beneficial. Something like a ColdCard, could do the trick. Although, pretty much any open source Bitcoin wallet is good enough for storing offline, as long as its stored securely. Obviously, hardware wallets allow users who might not understand the security risks, secure their Bitcoin to at least acceptable levels, right off the bat. ColdCard is a little more complex, and could potentially introduce errors if someone isn't entirely familiar with the process.
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March 15, 2022, 10:38:39 PM
 #14

You can't go wrong with electrum wallet, mycelium, ledger nano x, open-source and full transparency, so make sure you keep your private key or recovery seed safe.
There's no problem if it's also a Ledger nano s.

Nano x is like the most recent version of the hardware wallet of Ledger but they're also selling an "S" version and it is what I've got. I guess others that have purchased long time ago got the s version and don't have any problems using it.

The price of two is quite far from each other and s is the cheaper version but you may want to have the features x has.



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March 16, 2022, 06:02:52 AM
 #15

Is any hardware or software wallet which is safe to keep large amount of BTC safe and secure?
If you have a lot of bitcoins, you will find a safe way to keep your bitcoins safe. Enough to store any open source bitcoin wallet offline, unless it is securely stored. Open source bitcoin wallet is very safe for offline.

Something like a ColdCard, could do the trick. Although, pretty much any open source Bitcoin wallet is good enough for storing offline, as long as its stored securely. Obviously, hardware wallets allow users who might not understand the security risks, secure their Bitcoin to at least acceptable levels, right off the bat. ColdCard is a little more complex, and could potentially introduce errors if someone isn't entirely familiar with the process.
Coldcards are secure, but Coldcards use a variety of tactics to use their intelligence.
Hardware Wallet This is definitely a secure wallet. Those who keep Bitcoin safe here don't have to worry. And the problems that are at risk are the ones that they take seriously. They are only safe if they are fully informed about the process. I agree with your words. Hardware wallets they easily secure. But the cold card is a bit of a hassle because they keep it safe through tactics.
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March 16, 2022, 06:25:42 AM
 #16

By now you should have gotten the right answer OP but I will like to warn you that either mobile, PC or hardware wallet make sure you keep your private key very safe, hardware wallet won't stop someone from importing your keys and stealing all your coins.

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March 16, 2022, 02:41:43 PM
 #17

Others gave you some good wallets to choose. In crypto, you must practice decentralization for your capital. It is not only applied for investment but also for how you store your coin in wallets.

If you have Bitcoin, let's store your Bitcoin into different wallets. Don't store your coins in multiple addresses in one wallet because it does not make sense to protect your capital at all. If that wallet is compromised, all coins in all addresses inside will be stolen.

If you have your coins in multiple wallets, when one is compromised, others can still be safe.

Better, let's use multi-signature wallet that means to steal your coins, hackers will have to hack enough co-sign wallets. That sounds very impossible if you secure your wallets well enough.

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March 17, 2022, 05:24:33 AM
 #18

Is any hardware or software wallet which is safe to keep large amount of BTC safe and secure?
First of all, I would like to tell you that you have heard and understood before. Then decide what to do in the cold head. Because a lot of money means it needs to be protected. When it comes to hardware wallets, make sure you keep your personal keys very secure, think hard about how to prevent someone from importing your hardware and stealing all your keys.

Coldcards are secure, but Coldcards use a variety of tactics to use their intelligence.
Hardware Wallet This is definitely a secure wallet. Those who keep Bitcoin safe here don't have to worry. And the problems that are at risk are the ones that they take seriously. They are only safe if they are fully informed about the process. I agree with your words. Hardware wallets they easily secure. But the cold card is a bit of a hassle because they keep it safe through tactics.
There are two types of cold card and hardware wallet. Coldcards are protected by their own intelligence and art techniques. The way the hardware wallet is protected is by the bat.

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March 21, 2022, 03:29:07 PM
 #19

Am not sure there's any wallet with a maximum safety as you're expecting. Irrespective of the long history of such wallet, it must have had security issues at some point. For me, you just have your own role to play in the security of your coin, making sure your private keys are out of sight even to your manest man.

However, paper wallet could be recommended when looking for secure wallet, due to its offline character, but I won't advise newbie's in using it due to its complexity.
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March 21, 2022, 03:38:07 PM
 #20

However, paper wallet could be recommended when looking for secure wallet, due to its offline character, but I won't advise newbie's in using it due to its complexity.

One can also use a HD wallet, generate a seed and use it basically like a paper wallet. Still, one has to do that on a completely safe environment and indeed, newbies may do mistakes with this (too).
On the other hand, one can easily generate a new seed with his hardware wallet and use that seed as a paper wallet. If the seed remains offline, backed up by hand writing, that's good.
But: does OP want to "bury his gold" onto a paper wallet or want to keep it at hand with a hardware wallet?

However, since the topic is about big amount of BTC, I think that hardware wallet is a must in the equation, no matter what he's doing afterwards (just never forget to store the backups safely)

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