Which wallet is safe for long term Bitcoin storage?

[satscraper]

Are there other wallets where bitcoins are most secure?
I want your opinion.

The most secure wallet for bitcoin stash  is a multisig wallet with at least  two co-signers represented by HW from independent makers. In my view, the best available HW you can find  are  Passport 2 and ColdCard MK4 (or coming ColdCard Q1). I would advocate reading this tutorial which sheds the light on creation of Passport 2 - Sparrow - multisig wallet. It can be easily adopted to any arrangement of cosigners.

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[boyptc]

I've asked many people, big and small, which wallet bitcoins are the safest to store long-term.
Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.Now my question is if I keep my bitcoins in these wallets will I be able to use them whenever I want and will it be safe.
Are there other wallets where bitcoins are most secure?
I want your opinion.

Who are those many that have said to you that keeping on exchanges account are a safe method for storing your Bitcoins there for a long time?

It is not safe, their description means that they are an exchange so that's where the activity of exchange happens. It's not a place to store our Bitcoin.

Hardware wallet is a safe for long term but choose what you think is the right one for you and if you have no budget, just stay with Electrum.

[decodx]

Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.
<...>

Whoever said that to you either doesn't know what they're talking about or just doesn't want the best for you.  You really gotta think this through logically. how can your coins actually be safe long-term if you aint fully in control of the wallet itself? Binance and KuCoin are exchanges, they ain't wallets.  So what happens to all your coins if one day they just up and stop working? I mean, didn't you hear about what went down with one of the biggest exchanges last year? It was nuts.  

Anyway bottom line is, if you care about keeping your coins truly secure for the long haul, you gotta control the private keys to your wallet.  Exchanges can go belly up anytime.  Don't take unnecessary risks here.  Do your research and get yourself a proper crypto wallet that you control. As for Trust Wallet, I don't personally use it so I can't recommend it. It's probably good enough for smaller amounts.  But if you plan to keep your coins long term, I wouldn't use a hot wallet for that.

[Winterfrost]

I've asked many people, big and small, which wallet bitcoins are the safest to store long-term.
Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.Now my question is if I keep my bitcoins in these wallets will I be able to use them whenever I want and will it be safe.
Are there other wallets where bitcoins are most secure?
I want your opinion.

Perhaps those person that advised you to store you Bitcoin are day to day traders that is why they have their Bitcoin in a centralized exchange. This is because it is quite expensive to cover the gas fee when they want to send form a trusted non-custodial wallet every time they want to trade. But it is not a good advisable for a person who is an investor and would want to store his investment. Good you ask for opinion here because they only told based on their experiences and that is why the forum is here for clearer understanding of Bitcoin.

[Outhue]

There are potential risks awaiting hardware wallet users too, most newbies believe that once you get a hardware wallet the risk is over, there is a possibility of hardware going from centralized to decentralized or even from.decentralized to centralized, there is also risks with the hardware wallet software updates.

When all you have to worry about is your private keys and recovery seeds, with hardware wallet there is more, I don't know if anyone read about the recent fake ledger app on a store where people lost a lot of Bitcoin in a matter of days, I think it's either last month or before, the thing is even hardware wallet users are not completely safe.

The only good practical way of storing Bitcoin that I will always support and prefer is paper wallet, by generating the wallet offline and write down your recovery seed, there is no need to want to update your software or anything, this get rid of such things.

[Peanutswar]

That platform you have given is the exchange and based on the name their purpose only and not as a wallet, people get too much confident with their money to that platform because they can now easily make a trade with their coins but at the end of the day, it's not your money because you do not have the full authorization with that funds if you want to, again, for now, its convenience to you but if anything can happen in the future that you don't have the control with that platform youll now get in trouble how to get your assets. The most ideal even if you do not have the budget for your cold wallet like a hardware wallet, still there's an available hot wallet like the Electrum, dont exchange a small convenience for your security just a tip.

[Lucius]

I could recommend Trezor to someone with a note to additionally protect their account with a passphrase considering the irreparable vulnerability that allows anyone who has physical access to the device to extract the seed very easily

Or even better, get that new Trezor Safe 3 that has secure element.

That is one of the options, but the secure element is not something to rely too much on - because Ledger HW also has it, and in the end it turns out that the most sensitive data can still be extracted and shared with third parties. A properly made cold wallet or something like a Passport is still the level of storage that people should be directed to, especially those who want to securely store much larger values than a few hundred $ worth of altcoins.

[Rikafip]

That is one of the options, but the secure element is not something to rely too much on - because Ledger HW also has it, and in the end it turns out that the most sensitive data can still be extracted and shared with third parties.

Afaik, Trezor firmware is open source so hopefully community will figure it out if Trezor does anytyhing dodgy in that regard.

A properly made cold wallet or something like a Passport is still the level of storage that people should be directed to, especially those who want to securely store much larger values than a few hundred $ worth of altcoins.

Vast majority of people store altcoins beside bitcoin on their hardware wallets so many will avoid passport for that reason too, and another issue with it is that its not easily available as some other more mainstream wallets like Ledger and Trezor. Add on that a bit higher price (even though ~$200 shouldn't be too much to store thousands of dollars worth of bitcoin) and in the end not many people actually get it.

[blckhawk]

I've asked many people, big and small, which wallet bitcoins are the safest to store long-term.
Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.Now my question is if I keep my bitcoins in these wallets will I be able to use them whenever I want and will it be safe.
Are there other wallets where bitcoins are most secure?
I want your opinion.

These stuff that you've listed isn't the best of them all, these are temporary wallets for when you don't have a lot of bitcoin, check out the story of Mt. Gox so you can understand why people in this forum are afraid of storing their bitcoins in non-custodial wallet. As many others have said time and time again, "Not your keys, not your coins." Regarding the best kind of wallet for storing bitcoin, you can never go with cold wallets or any wallets that you can store in an offline storage.

[sokani]

I've asked many people, big and small, which wallet bitcoins are the safest to store long-term.
Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.Now my question is if I keep my bitcoins in these wallets will I be able to use them whenever I want and will it be safe.
Are there other wallets where bitcoins are most secure?
I want your opinion.

I can see that you're new to the crypto space and you might not know the dangers attached in keeping your funds on centralized exchanges. Storing your funds on CEX means you're giving them custody over it and you could lose it if the exchange gets hacked, bankrupted or confiscated by the authorities. So if truly you're here to learn and amass knowledge, then you should read through the responses from forum members and take their advice very seriously. No your keys, not your coins.

[Coyster]

when you make account on Trust wallet you have to keep a recovery key safe in order to access that account again.

There is no "account" in the Bitcoin network, use wallet instead. Trust wallet is a non-custodial wallet, but it is closed source and with being closed source you have to "trust" everything that the developers tell you about the wallet, keys and seed phrase. Atomic wallet is a good example of a closed source non-custodial wallet, they were hacked a few months ago, and quite a lot of their users lost their money, but even as i type this there is still no info from Atomic wallet about what happened. Thus don't use closed source wallets, even if they are non-custodial and give you a recovery phrase.

[Lucius]

A properly made cold wallet or something like a Passport is still the level of storage that people should be directed to, especially those who want to securely store much larger values than a few hundred $ worth of altcoins.

Vast majority of people store altcoins beside bitcoin on their hardware wallets so many will avoid passport for that reason too, and another issue with it is that its not easily available as some other more mainstream wallets like Ledger and Trezor. Add on that a bit higher price (even though ~$200 shouldn't be too much to store thousands of dollars worth of bitcoin) and in the end not many people actually get it.

It's true, most people are looking for multicurrency wallets because there are few who only have Bitcoin, which means that hardware wallets that offer such options will continue to be more popular, and also more affordable for the average user. Passport, of course, has a higher price, which for us in Europe is above $250, but there are more than enough resellers and the device can be bought for cash in some countries in our area.

I hope that some of them will offer a discount for Black Friday, and considering the increase in the price of BTC, this could be the best opportunity to buy such a device.

[Z_MBFM]

I've asked many people, big and small, which wallet bitcoins are the safest to store long-term.
Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.Now my question is if I keep my bitcoins in these wallets will I be able to use them whenever I want and will it be safe.
Are there other wallets where bitcoins are most secure?
I want your opinion.

I can see that you're new to the crypto space and you might not know the dangers attached in keeping your funds on centralized exchanges. Storing your funds on CEX means you're giving them custody over it and you could lose it if the exchange gets hacked, bankrupted or confiscated by the authorities. So if truly you're here to learn and amass knowledge, then you should read through the responses from forum members and take their advice very seriously. No your keys, not your coins.

He probably doesn't know about the FTX incident  New crypto users want to hold their crypto on a centralized exchange to save some fees.  For example, when Bitcoin is withdrawn from an exchange, some fee is deducted, and when it is brought back to the exchange for the purpose of selling, some transaction fee is deducted.  But these thoughts can put them in a lot of danger

when you make account on Trust wallet you have to keep a recovery key safe in order to access that account again.

There is no "account" in the Bitcoin network, use wallet instead. Trust wallet is a non-custodial wallet, but it is closed source and with being closed source you have to "trust" everything that the developers tell you about the wallet, keys and seed phrase. Atomic wallet is a good example of a closed source non-custodial wallet, they were hacked a few months ago, and quite a lot of their users lost their money, but even as i type this there is still no info from Atomic wallet about what happened. Thus don't use closed source wallets, even if they are non-custodial and give you a recovery phrase.

Trust wallet is fine but it will more secure if op use another Non-custodial wallet like Electrum or if op want to investment  a big capital then he should use hardware wallet those will help him to hold his bitcoin more securely without any problem

[Yamane_Keto]

Non custodial wallet is the definition that you own Bitcoin and not a balance on a platform that controls your money. Therefore, you must have access to the private key in order to own your money. The nature of your use will determine the appropriate type of wallet. If you use Bitcoin periodically, it is better to buy a hardware wallet, otherwise an airgapped wallet is suitable, if that is configured. A computer that has not and will not connect to the Internet and download a wallet such as Electrum and/or Sparrow or purchase an airgapped HW wallet
If you do not know what to do, it is better to learn and then buy Bitcoin and not keep it in BINANCE.

[DeathAngel]

I've asked many people, big and small, which wallet bitcoins are the safest to store long-term.
Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.Now my question is if I keep my bitcoins in these wallets will I be able to use them whenever I want and will it be safe.
Are there other wallets where bitcoins are most secure?
I want your opinion.

Absolutely not, none of those you listed would be anywhere near the top of a list for safest, most trustworthy wallets. Others have said but cold storage should be your first choice method. Trezor would be the number one choice, please buy from the official website only www.trezor.io

[Tuturtinular]

Are there other wallets where bitcoins are most secure?
I want your opinion.

I think electrum and bitcoin core are the best wallets for PC devices, but if you want even more security then I suggest you use a Hardware wallet like trezor. Wallets on exchanges are very dangerous because we don't hold our keys, the exchange has complete control over all our assets there and they can also freeze our wallets whenever they want. The FTX case in my opinion is a lesson in how wallet exchanges can be very dangerous in certain cases. We recommend that you only use exchange wallets to trade and store bitcoins in wallets to which you have full access

[reagansimms]

Bitcoin is a unique cryptocurrency that is very different from Fiat currency. Before you use Bitcoin for any transaction, you must first equip yourself about the place where Bitcoin is stored which is considered the safest. Choosing the right and safe wallet depends entirely on each individual, there are many types of bitcoin wallets that you can use, but I try to recommend a Hardware Wallet for you.

There are several advantages of hardware wallets compared to other wallets. The hardware wallet is resistant to viruses, the level of security is higher because the private key is stored on the hardware and is not connected to the software. The software used in its operation is also open source which makes it possible for users to validate all operations of the device. To make it easier for you to know what a hardware wallet is and its types, you can search using the keyword "Hardware Wallet"

Don't store your assets in a wallet available on the Exchange, there is no guarantee of security there because there have been many Exchange hacks in the past and it is possible that your assets could be taken away if at any time the Exchange where you store your assets goes bankrupt.
Remember, as long as you cannot control the private key, the assets contained in it do not belong to you.

[Marvelman]

Exchanges make me kinda nervous 'cause they've got all your coins and could get hacked whenever.  Electrum's probably the most popular desktop wallet out there.  But If you really wanna play it safe, you can run Electrum on an offline machine, like an old laptop or something.  Or you could simply buy a hardware wallet like others mentioned too.

[Gladitorcomeback]

I've asked many people, big and small, which wallet bitcoins are the safest to store long-term.
Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.

I think you asked newbies because only newbie can prefer these wallet. The first two are centralize exchange which means you have no control over your fund. You have no phrase and any misshapen with exchange or your account will lead to lost of fund. Trustwallet is although safe wallet than cex because you will have access to private key but still risk is found because Trustwallet is not open source wallet.

Now my question is if I keep my bitcoins in these wallets will I be able to use them whenever I want and will it be safe.

You can do it until exchange work well but you are in high risk because anytime exchange face serious issue like Mt gox and FTX. so better not to use these wallet for safety.

Are there other wallets where bitcoins are most secure?
I want your opinion.

If your fund is high then Multisig is best option. Another safe option is cold wallet and at the last I will prefer Electrum which is open source and I am also using it.

[Rikafip]

Passport, of course, has a higher price, which for us in Europe is above $250, but there are more than enough resellers and the device can be bought for cash in some countries in our area.

Afaik, only one store in our coutry sells Passport, and its an online store (Protis). I am on the lookout for a new hardware wallet and at the moment Passport is my first choice but I would prefer if I can buy it in a physical store.

He probably doesn't know about the FTX incident.

That doesn't have to be the case. I know a few people that have money stuck on both Celsius and FTX yet they still have coniderable amount of crypto on centralzied exchanges (mainly Binance) so majorify of people simply don't learn anything even from their own mistakes, let alone others.