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Author Topic: Best way to store BTC  (Read 284 times)
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February 01, 2023, 08:33:21 PM
 #21

Here are a few methods to store Bitcoin securely for the long term:

Hardware wallets: Hardware wallets are physical devices that store your private keys offline and are considered to be one of the most secure ways to store cryptocurrencies. Some popular options include Trezor, Ledger, and KeepKey.

Cold storage: This involves creating a paper or physical wallet, where you can store your private key in a secure location, such as a safe or a secure deposit box.

Multi-sig wallets: A multi-sig wallet requires multiple signatures to access the funds, making it more secure than a traditional wallet. You can set it up with co-signers, so even if one key is compromised, the funds are still safe.

Regardless of which method you choose, it's important to follow security best practices, such as keeping backups, using strong passwords, and enabling two-factor authentication.
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February 02, 2023, 11:12:07 AM
 #22

An interesting point is that the OP has already once been interested in a similar question, and we can say that he received several full-fledged answers from competent people. But after suddenly waking up after a while, the OP was again interested in his problem.
OP, what brings you to this question? Owning wallets, in and of itself, implies the competent storage of seed phrases and passwords, and you, as a person interested in all the advantages of wallets, should be clear on this.
Are you not the real owner of the account?

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February 02, 2023, 11:57:41 AM
 #23

It is ok to use electrum if you do transactions more often, I use electrum desktop wallet as my go to wallet.
For holding a longer period of time you need to buy a hard wallet, you can do your own research on this before purchasing one.
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February 02, 2023, 01:09:13 PM
 #24

Just don't store in an Exchange or you don't have full control to make withdraw your funds or restrictions.
If you want to store your bitcoin invest in security in bitcoin too if you don't have a budget yet go for the Hot wallets still with the electrum or Exodus. We highly preferred to use the Cold wallet or the hardware wallets to make sure your funds are safe.

Code:
https://trezor.io/resellers
https://www.ledger.com/reseller


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February 02, 2023, 01:22:10 PM
 #25

If you want to store your bitcoin invest in security in bitcoin too if you don't have a budget yet go for the Hot wallets still with the electrum or Exodus.
Electrum is surely a good wallet, but Exodus is close source and I would never recommend any one to use it.
Also take note that electrum can be used as a cold wallet as well. If you can't use a hardware wallet for any reason, you don't have to use a hot wallet.

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February 02, 2023, 01:48:59 PM
 #26

Many recommended about best way to store Bitcoin trough hardware wallet, I think many people misunderstanding about hardware wallet is place for saving Bitcoin not for purchasing based on OP question. First if you still beginner and do not know any people or trusted seller in your country you need create with local exchange market and deposit your local currency money there.

After deposit success you can invest or store Bitcoin trough your local exchange market, later you can sent to hardware wallet or keep saving in local currency exchange market for saving your Bitcoin fund. I think good ideas and keep securing when your Bitcoin assets saving in hardware wallet not in exchange market account.

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February 02, 2023, 03:09:14 PM
 #27

Hello all BTC veterans.

Apart from electrum wallet,

Please provide suggestion as how to store BTC securely for long term.

Thanks
I hope this link could be of help to what you're actually looking out for, the link contains lots of different kinds of hardware wallets with which anyone can choose any convenient for him for safe keeping of his BTC. https://bitcointalk.org/index.php?topic=5282364.0

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February 02, 2023, 03:12:49 PM
 #28

The best way to store Bitcoin safely for long term is by using a hardware wallet, this is highly recommended for newbies but if you are a daily spender of Bitcoin just stick with Electrum wallet on your smartphone, hardware wallets are more secured and far more reliable, the device is always needed to access a transaction.

Make sure you buy a open source hardware wallet like Trezor.
  Thanks bro. But for more understanding not everyone know how to use the hard wallet, that's why person make use of the elecctrum wallet. But u can educate us more on hard wallet cause even I don't have idea on how to use hard wallet.

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February 03, 2023, 05:19:09 AM
 #29

Hello all BTC veterans.
Apart from electrum wallet,
Please provide suggestion as how to store BTC securely for long term.
If you plan to hold a large amount of bitcoins for long term then hardware will definitely play a big role here. But in this case you have to buy a hardware wallet which is somewhat costly. So if you want to hold a small amount of bitcoins then electrum wallet is enough to keep your bitcoins safe.

Just don't store in an Exchange or you don't have full control to make withdraw your funds or restrictions.
If you want to store your bitcoin invest in security in bitcoin too if you don't have a budget yet go for the Hot wallets still with the electrum or Exodus. We highly preferred to use the Cold wallet or the hardware wallets to make sure your funds are safe.

Code:
https://trezor.io/resellers
https://www.ledger.com/reseller
Holding an asset on an exchange means leaving your funds in the hands of others. So of course it is better to use non_custodial wallet in this case.trezor, ledger, electrum is a suitable wallet in this case



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February 03, 2023, 08:17:17 AM
 #30

  Thanks bro. But for more understanding not everyone know how to use the hard wallet, that's why person make use of the elecctrum wallet. But u can educate us more on hard wallet cause even I don't have idea on how to use hard wallet.

How did you figure out how to use the Electrum wallet? Was it through reading the instructions or maybe watching a video tutorial? Well, you can learn how to use a hardware wallet just the same. There's really not much difference between the two, and using a hardware wallet ain't rocket science.

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February 04, 2023, 09:18:43 PM
 #31

Hello all BTC veterans.

Apart from electrum wallet,

Please provide suggestion as how to store BTC securely for long term.
No matter how safe or secure a desktop wallet like electrum is, they are not really so safe since the devices they are kept in can get compromsied pretty easily these days if the user is not very careful. If there are more than one users, it is never recommended to use a desktop wallet.

Hardware wallets would be the best shot for storing Bitcoins or any cryptocurrencies for long term.

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February 04, 2023, 09:30:25 PM
 #32

If you don't want to use hardware wallet due to reason like don't want to spend then try using Electrum and I believe you can create a new wallet offline or online doesn't matter and just copy the address and then send the funds into it then your good to go. The thing is that it is you who will make your wallet safe and what the post above said that the device could be compromised so, it's only natural to think that no matter what you do is that the device could be in compromise that's why hardware wallet is what you should do but as I have said there are alternative to use without cost.

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February 04, 2023, 09:39:30 PM
 #33

Hello all BTC veterans.

Apart from electrum wallet,

Please provide suggestion as how to store BTC securely for long term.

Thanks
Hello, an important tip that is missed in this topic: divide your balance into two parts and store it in different places.So if you lose one, you will have a second option.You can lose a cold wallet or anything can happen to it, but copies of all passwords and keys should be written on paper at least.Don't keep everything in one place ever.
The best advice I have read so far.  Diversifying storage of crypto is safer than keep all of them stacked in one place. You could use your electrum wallet to transact daily or as when needed, but it shouldn't stop you from exploring other wallets and sharing your funds into these new wallets. I don't need stress on the huge security advantage, but remembering and keeping safe your key phrases and passwords is the most important when using a wallet.

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February 07, 2023, 11:10:52 PM
 #34

Hello, cryptofans!
I'm not a newbie to crypto and co. I'm also not a pro, but i think i have medium experience with crypto topic at all! One thing i really can say is that i have lost my funds (mostly BTC,BCH,and BCH) more than one time!
Scam-attacks, Ponzi-Schemes, forgotten passwords passphrases and so on. All in all i lost ~ 0.1 BTC (at the momentan price - ~ 2000€), i guess! But now i use a HW , SafePal HW1, and i have to say this thing is quite genious! It's black, light-weight and pocket sized, it's still easy to use and also have a little display! I like this stuff...  Cheesy
I also have one piece/1 unit that is brand-new and never used by anyone. It's sealed, and i would sell it. If someone search for a cheap and unused hardware wallet, write me a PM and imagine of the price!
Stay safe and take care! Peace!
Greets - Bye!

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