Cold storage system isn't just for large btc portfolio's but long term holder's

[AVE5]

It has come to notice about the mentality of different user's that cold storage is for bitcoineers who only have large amount of bitcoins in their portfolio's. I also don't  think it makes common sense to buy storage device that's worth than the amount of bitcoin you're to store in it.
However, the nomenclature of cold storage system is to store your private keys offline and therefore prevents your privacy and security from being broken by online hacker's.
So this storage system should be specifically recommended for those holding their portfolio's for the long term and not limited to certain amount of bitcoin in your portfolio. It's primarily a project to keep your fund's safe from being stolen through the malicious strategies of online hacker's.

[EL MOHA]

It has come to notice about the mentality of different user's that cold storage is for bitcoineers who only have large amount of bitcoins in their portfolio's.

So this storage system should be specifically recommended for those holding their portfolio's for the long term and not limited to certain amount of bitcoin in your portfolio. It's primarily a project to keep your fund's safe from being stolen through the malicious strategies of online hacker's.

I don’t think I have actually read about cold storage been specifically designed for certain set of people either large amount holders or long term holders alone or both combine. What I have actually known is that Cold storage is for anyone to take their keys offline and avoid compromization through online factors.

One of the advises you will actually get to read about for recommendations of cold storage is that it is recommended for anyone to use when they have any certain amount of coins they cannot afford to lose been it small or big number of coin, long or short term hold; there is no discretion about it’s used. Just like the foundation of bitcoin itself which is freedom, you’re free to use it any how you think you can.

The key advise is when you get a good cold wallet or set one up you’re better secured than one with an hot wallet

[PX-Z]

. I also don't  think it makes common sense to buy storage device that's worth than the amount of bitcoin you're to store in it.

There are literally hardware wallets under $60, unless your funds are under the mentioned amount, you should not yet invest on HW wallets, but other than that, you should do. And HW wallets are not just for long term holding, it can be used for regular sending transactions, you should just sacrifice a little inconvenience.

[_act_]

You are contradicting yourself.

You added this to your post when what you are discussing is about using cold wallet for long term storage and not only for holding high amount of coins.

I also don't  think it makes common sense to buy storage device that's worth than the amount of bitcoin you're to store in it.

Most people that would go for cold wallet will have high amount of bitcoin or maybe having high amount of other coins.

[uchegod-21]

In simple and clear terms, if you do not have any intention of transacting with your Bitcoin anytime soon, or you intend to save your Bitcoin for a very long time, then a hardware wallet will be recommended just to keep your keys off the internet.

Hot wallets are suitable for regular transactions.

Both can still be used for the same purpose, but a hardware wallet, plus proper seed storage and backup methods, keeps your assets safer from the internet bad guys.

[Cryptomultiplier]

In simple and clear terms, if you do not have any intention of transacting with your Bitcoin anytime soon, or you intend to save your Bitcoin for a very long time, then a hardware wallet will be recommended just to keep your keys off the internet.

Hot wallets are suitable for regular transactions.

Both can still be used for the same purpose, but a hardware wallet, plus proper seed storage and backup methods, keeps your assets safer from the internet bad guys.

Any potential Bitcoin investor with a time frame that's a long time should consider the foundational requirement of using a cold storage to store their coins.
Also, it's important to note that not every cold wallet is a hardware wallet but every hardware wallet is a cold wallet, if you understand the line in-between.

A cold wallet has the private keys offline while a hardware wallet is more like a physical device that also keeps your private keys offline.
The knowledge of how to use both will definitely guarantee a long term investment safety of your Bitcoin portfolio.

[Karl_3000]

Both can still be used for the same purpose, but a hardware wallet, plus proper seed storage and backup methods, keeps your assets safer from the internet bad guys.

Yes both cold and hot wallets can be used for the same purpose, but they are not for the same purpose. I can conveniently have my bitcoin on a hot wallet for a long time if the amount is small, but if the amount is getting to $500 and above, I will use a cold wallet. I also have some bitcoin left on my hot wallet for easy and fast transactions.

[Darker45]

Honestly, if I had a hundred dollars or two in Bitcoin, I guess I won't be buying a storage device for it. That's regardless of whether I'd be hodling it for the next 5 or 10 years. If I had extra dollars which could afford me a hardware wallet, I might just decide to buy Sats with it and make my portfolio a bit bigger. That sounds more worth it.

Having said this, I think it's not about the hodling term, it's mainly about the size. Hot wallets like Electrum or Bluewallet are fine with me for Bitcoin worth a few hundred dollars.

[osasshem]

I have always seen a cold storage as a means of storing large amount of Bitcoin for a very long period of time. This is because it is for a long term investment, and not for the short term. Also, there is no need of buying an expensive storage device to keep an asset that you will be spending in a short period of time, and also wanting to store assets worth less than the cost of purchasing the equipment/device. I wish to hold for a long term, but knowing well that my holdings might not be enough to purchase the storage device and still have something worth holding, its better to use a more secured wallet and keep my keys safe.

[letteredhub]

Snip

You should consider that not every user has the funds to immediately buy a hardware wallet at their starting of building their  bitcoin portfolio and this has being the reason why hot wallets are there for such users until when they have being able to accumulate much coins and see the need for higher security layer like cold storage device. It can actually discourage some new users, telling them to first buy a cold wallet regardless the amount the least wallet may cost, when they could have just downloaded an online wallet like electrum and start...

[Pablo-wood]

You should consider that not every user has the funds to immediately buy a hardware wallet at their starting of building their  bitcoin portfolio and this has being the reason why hot wallets are there for such users until when they have being able to accumulate much coins and see the need for higher security layer like cold storage device. It can actually discourage some new users, telling them to first buy a cold wallet regardless the amount the least wallet may cost, when they could have just downloaded an online wallet like electrum and start...

There is absolutely no pressure as to when to acquire a HW. The concern is with the high level of inflation in our society, the more we wait for our portfolio to gain enough weight before considering getting a HW the more the price keeps soaring and the procrastination gets endless.  simple purchase saves both the present and future as it not only secure our coin but also save cost in the future.

[SeriouslyGiveaway]

It has come to notice about the mentality of different user's that cold storage is for bitcoineers who only have large amount of bitcoins in their portfolio's. I also don't  think it makes common sense to buy storage device that's worth than the amount of bitcoin you're to store in it.
However, the nomenclature of cold storage system is to store your private keys offline and therefore prevents your privacy and security from being broken by online hacker's.
So this storage system should be specifically recommended for those holding their portfolio's for the long term and not limited to certain amount of bitcoin in your portfolio. It's primarily a project to keep your fund's safe from being stolen through the malicious strategies of online hacker's.

Small fund or big fund, small bitcoin portfolio or big one, long term holding or short term holding, there are something in common.

It's your bitcoin, it's your money, and surely you and no one want to lose money. So, there is a common need of storing bitcoin safely and to have that, people must use good wallets and store their bitcoin properly.

From choosing open source, non custodial wallets to use.
To where to get the wallet, download, verify, install, and use it.
To create a wallet, back up a wallet.
Test a wallet backup for recovery before using with bitcoin funding.
To how to backup wallets rightly and store backups safely.

All these steps are important for all people who have bitcoins, including cold storage.

Lost bitcoins are donations to everyone but no bitcoin owners want to lose their bitcoins.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

[PostQuantumBTC]

There is absolutely no pressure as to when to acquire a HW. The concern is with the high level of inflation in our society, the more we wait for our portfolio to gain enough weight before considering getting a HW the more the price keeps soaring and the procrastination gets endless.  simple purchase saves both the present and future as it not only secure our coin but also save cost in the future.

This is a good post, but why are you people referring to hardware wallets as cold wallets? It is either you mention the hardware wallet because many hardware wallets are cold wallets but not all. Is it Ledger that seed phrase can be sent to different companies online that the government can use to take over people bitcoin a cold wallet? That is not self-hosted and also the wallet is not complete cold wallet. For experts it is not necessary you get a hardware wallet before making a cold wallet. If you have the right knowledge, you can go for paper wallet or airgapped device wallet.

[MarryWithBTC]

It has come to notice about the mentality of different user's that cold storage is for bitcoineers who only have large amount of bitcoins in their portfolio's. I also don't  think it makes common sense to buy storage device that's worth than the amount of bitcoin you're to store in it.
However, the nomenclature of cold storage system is to store your private keys offline and therefore prevents your privacy and security from being broken by online hacker's.
So this storage system should be specifically recommended for those holding their portfolio's for the long term and not limited to certain amount of bitcoin in your portfolio. It's primarily a project to keep your fund's safe from being stolen through the malicious strategies of online hacker's.

In as much as there is no compulsory rule for this, I will have to acknowledge that the choice of a hardware wallet depends on the two factors you mentioned above, and one more factor.

1. Long term holders: People holding for 1 or more cycles are encouraged to use a hardware wallet.
2. When your portfolio is reasonably high: You cannot buy $100 worth of hardware wallet to save $30 worth of btc
3. Tech know how/convenience: Some people want to use hardware wallets, but they don't know how to use it or where to buy a reliable one.

So, the use of hardware wallet is influenced by the above factors and the solution is subjective.

[uchegod-21]

Both can still be used for the same purpose, but a hardware wallet, plus proper seed storage and backup methods, keeps your assets safer from the internet bad guys.

Yes both cold and hot wallets can be used for the same purpose, but they are not for the same purpose. I can conveniently have my bitcoin on a hot wallet for a long time if the amount is small, but if the amount is getting to $500 and above, I will use a cold wallet. I also have some bitcoin left on my hot wallet for easy and fast transactions.

The reason you can comfortably leave your Bitcoin in a hot wallet for a long period of time is because the amount is small and you don't mind losing it. It would be a very big deal for some other people to lose their bitcoins, no matter how small the amount is. That is why such people should never treat their bitcoins carelessly simply because the amount is small.

No matter the amount involved, cold storage is preferable if they intend to save their bitcoins for a very long time. I do not know who made the rule that you should use a hot wallet for storage simply because the amount of bitcoin is small.

[SilverCryptoBullet]

The reason you can comfortably leave your Bitcoin in a hot wallet for a long period of time is because the amount is small and you don't mind losing it. It would be a very big deal for some other people to lose their bitcoins, no matter how small the amount is. That is why such people should never treat their bitcoins carelessly simply because the amount is small.

No matter the amount involved, cold storage is preferable if they intend to save their bitcoins for a very long time. I do not know who made the rule that you should use a hot wallet for storage simply because the amount of bitcoin is small.

Small fund is small fund but many small funds sum up to a considerable fund, even a big fund. If people are careless, and lost their small funds many times, they eventually lost a big fund accumulative, and it's bad.

This example shows that it's always important to store bitcoin, secure a bitcoin fund as best as possible, even it is small. People need to know about this importance, then learn how and what needs to do for storing and securing their bitcoin funds safely with both hot wallets and cold wallets.

Cold wallets are best to aim at especially with big funds but hot wallets must be secured well too. In security, there are common principles to do for devices, accounts, wallets and careful people must learn about these principles.

https://www.lopp.net/bitcoin-information/security.html

[dkbit98]

I also don't  think it makes common sense to buy storage device that's worth than the amount of bitcoin you're to store in it.

There are hardware wallets literally priced between $50 and $100, and they can be even cheaper if you are using something like Satochip cards.
Even using old smartphone in offline airplane mode is better than using regular software wallets, and you don't have to spend any extra money on them.

[AVE5]

It has come to notice about the mentality of different user's that cold storage is for bitcoineers who only have large amount of bitcoins in their portfolio's.

So this storage system should be specifically recommended for those holding their portfolio's for the long term and not limited to certain amount of bitcoin in your portfolio. It's primarily a project to keep your fund's safe from being stolen through the malicious strategies of online hacker's.

I don’t think I have actually read about cold storage been specifically designed for certain set of people either large amount holders or long term holders alone or both combine. What I have actually known is that Cold storage is for anyone to take their keys offline and avoid compromization through online factors.

I guess you haven't paid attention broadly else, there had been certain discussions that discusses how those of inexperience thinks, especially beginners with lower income flows assume the hardware wallets are likely suitable for user's with large amount due to the price. You'll also agree that it's not everyone that can easily afford a reliable offline storage like the Ledger and Trezor.
It's not either airgap offline device they could find easily affordable.
So they'd have that mentality that it's for those holding bigger amount if they can't afford it.

Let me freely tell you that those holding for the longer term need it most that's why it has been that some user's could even hold an amount of funds they've plans to make use of in short moments on exchange that doesn't even give their private keys.
Online scamming schemes had also been in fast advancement and the longer you trust your privacy online for the long time is the more risky position you stand to get track on target while connected in the internet.
So obviously, the cold storage system isn't an exclusive for certain user's.

[BIT-BENDER]

. I also don't  think it makes common sense to buy storage device that's worth than the amount of bitcoin you're to store in it.

There are literally hardware wallets under $60, unless your funds are under the mentioned amount, you should not yet invest on HW wallets, but other than that, you should do. And HW wallets are not just for long term holding, it can be used for regular sending transactions, you should just sacrifice a little inconvenience.

Yes a post I wanted to see. The fact that you use a cold storage system doesn't mean you can't still access your own funds when ever you want.
For me I don't think the major factor in choosing cold storage system is about the time frame or quantity of the funds but rather the primary factor is usually for safe keeping.
Anyone can sacrifice basic inconveniences for strong safe keeping.

[Chinesebaby]

It has come to notice about the mentality of different user's that cold storage is for bitcoineers who only have large amount of bitcoins in their portfolio's. I also don't  think it makes common sense to buy storage device that's worth than the amount of bitcoin you're to store in it.
However, the nomenclature of cold storage system is to store your private keys offline and therefore prevents your privacy and security from being broken by online hacker's.
So this storage system should be specifically recommended for those holding their portfolio's for the long term and not limited to certain amount of bitcoin in your portfolio. It's primarily a project to keep your fund's safe from being stolen through the malicious strategies of online hacker's.

Yes, I totally agree with you with respect to cold wallet not only been the recommended wallets for people who intends to save/hold a large amount of Bitcoin, but also for people who intend to hold their Bitcoin for a very long period of time, since cold wallets enable a user to be able to save his Bitcoin and the entire wallet private keys offline. However, it's still l a good wallet for people who intends to ,invest large number of Bitcoin long term too. Because it will definitely make no sense if a user buys a cold wallet that is almost half of your wallet portfolio, whereas we already have some good Bitcoin wallets where you can also store that Bitcoin in a non custodial wallets wallets like Electrum and Bluewallet.