Best way to keep my Bitcoins safe?

[Kokosek]

I bought some BTC few months ago when price was (in drop to) ~700$..

I want to keep them safe for few years and then maybe sell. Till now I keep my BTC on android device with Bitcoin Wallet. I did printout my private keys too. But I know that this is not a safest way to do it, as my device was already online during this process.

What you suggest?

Thanks

[1714049541]

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[1714049541]

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[1714049541]

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[1714049541]

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[1714049541]

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[cr1776]

I bought some BTC few months ago when price was (in drop to) ~700$..

I want to keep them safe for few years and then maybe sell. Till now I keep my BTC on android device with Bitcoin Wallet. I did printout my private keys too. But I know that this is not a safest way to do it, as my device was already online during this process.

What you suggest?

Thanks

Create a paper wallet offline, probably bip38.  Then transfer your coins to these new addresses. Store a copy in a safety deposit box or somewhere off site too.

[skyrunner]

come on this is development discussion

[roslinpl]

come on this is development discussion

You think so?
For me this is Technical Discussion and as I know this sub channel is called " Development & Technical Discussion "
so this thread IMO is placed just right. 

And what about my answer @ "Best way to keep my Bitcoins safe?"

offline wallets - but I must say I don't know which "offline wallets" service is the best.
Maybe some more experienced members will tell us some more.

My question to more experienced members: is this good way to make offline wallet?
 >> https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet <<

[Kokosek]

Thanks for responds. It would be nice if someone could explain how to make offline wallet step by step and which offline wallet will be the best option.

Cheers

[captainblack]

Do you really think it's a good idea to to keep them safe for few years?

[Kokosek]

Do you really think it's a good idea to to keep them safe for few years?

Why not? Do you have something special on your mind?

[cr1776]

Thanks for responds. It would be nice if someone could explain how to make offline wallet step by step and which offline wallet will be the best option.

Cheers

Here is some info:

http://www.coindesk.com/information/paper-wallet-tutorial/

https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet

https://blockchain.info/wallet/paper-tutorial

https://bitcoinarmory.com/about/using-our-wallet/



And this is does seem to be off-topic for this sub-forum.

[E.exchanger]

OK i'll give you a glance of what you need in order to stay protected :


Be careful with online services

keep only small amounts of bitcoins on your computer, mobile, or server for everyday uses and to keep the remaining part of your funds in a safer environment.

Backup your wallet

Encrypt online backups

Use many secure locations for backups

Multi-signature to protect against theft

As of today, no hardware wallet has entered in production but they are coming soon:
Trezor
ButterflyLabs BitSafe

[ffe]

One thing I've done is move a small amount of bitcoin to my new offline wallets and wait a month. This is a honeypot and if anyone has somehow compromised my wallet generation process they would be tempted to drain the wallets.

After a while, with my wallets securely offline the whole time, if no one has touched my wallets I move the bulk of what I want to store to them.

Just another take on the process.

[Kokosek]

Thank you for all advices. I guess I have a lot to learn about BTC

Cheers

[ronjon2000]

Thank you for all advices. I guess I have a lot to learn about BTC

Cheers

Thanks for the question. I've been wondering the same thing.

[roslinpl]

Maybe this should be pinned ?

I must say there are so many threads where those things were mentioned, but here solutions are quite clear and I must say my favorite one is:

Here is some info:

http://www.coindesk.com/information/paper-wallet-tutorial/

https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet

https://blockchain.info/wallet/paper-tutorial

https://bitcoinarmory.com/about/using-our-wallet/

This makes things very clear. And sources are trusted and provable.

[jl2012]

come on this is development discussion

You think so?
For me this is Technical Discussion and as I know this sub channel is called " Development & Technical Discussion "
so this thread IMO is placed just right. 

And what about my answer @ "Best way to keep my Bitcoins safe?"

offline wallets - but I must say I don't know which "offline wallets" service is the best.
Maybe some more experienced members will tell us some more.

My question to more experienced members: is this good way to make offline wallet?
 >> https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet <<

Yes, I think so.

This section is for "Technical discussion about Satoshi's Bitcoin client and the Bitcoin network in general. No third-party sites/clients, bug reports that do not require much discussion (use github), or support requests."

[Kokosek]

come on this is development discussion

You think so?
For me this is Technical Discussion and as I know this sub channel is called " Development & Technical Discussion "
so this thread IMO is placed just right. 

And what about my answer @ "Best way to keep my Bitcoins safe?"

offline wallets - but I must say I don't know which "offline wallets" service is the best.
Maybe some more experienced members will tell us some more.

My question to more experienced members: is this good way to make offline wallet?
 >> https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet <<

Yes, I think so.

This section is for "Technical discussion about Satoshi's Bitcoin client and the Bitcoin network in general. No third-party sites/clients, bug reports that do not require much discussion (use github), or support requests."

Sorry then for my mistake. I can`t find here any option to change it so now probably only moderators can make it.

[jl2012]

come on this is development discussion

You think so?
For me this is Technical Discussion and as I know this sub channel is called " Development & Technical Discussion "
so this thread IMO is placed just right. 

And what about my answer @ "Best way to keep my Bitcoins safe?"

offline wallets - but I must say I don't know which "offline wallets" service is the best.
Maybe some more experienced members will tell us some more.

My question to more experienced members: is this good way to make offline wallet?
 >> https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet <<

Yes, I think so.

This section is for "Technical discussion about Satoshi's Bitcoin client and the Bitcoin network in general. No third-party sites/clients, bug reports that do not require much discussion (use github), or support requests."

Sorry then for my mistake. I can`t find here any option to change it so now probably only moderators can make it.

This is not completely your mistake. The name is misleading. I propose to change to a more proper name but no one is listening to me

[jetspot]

keep only small amounts of bitcoins on your computer, mobile, or server for everyday uses and to keep the remaining part of your funds in a safer environment.

Keep only a small amount of money in your checking/Paypal account for everyday uses. Keep all else in a safe environment like a separate account or as cash in your mattress.

If you think of Bitcoin the same way you would think about your money 10 years ago, the same safeguards apply.