Fatanut
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June 23, 2017, 10:31:54 AM |
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Others will do multiple wallets. There would be hardware wallets, some paper wallets, some desktop wallets for offline computers. Having multiple wallets give the attacker more chance of getting into your coins. If he can't find your paper wallet, he can try and bruteforce his way in your wallet through the offline computer. Honestly, with all the attacks that can happen, one way that I'm thinking is to just memorize the private key. I know it's absurd or whatever, and it's risky, but no one can hack into your brain. Nobody knows the things that you have in mind.
Memorize the private key. And then for a while have the private key on a piece of paper. Recite the private key every morning and use the piece of paper to see if you did recite right. Then if you can recite the private key without any hassle, then burn the paper. Continue reciting the private key every morning. Make it a routine, otherwise your bitcoins will be gone.
And if people are going to come at me saying, "How about if you get an amnesia?" There's very low chance of you getting an amnesia. I don't even personally know anyone that has amnesia. But if you do get an amnesia I'm pretty sure you will also forget how to use other bitcoin wallets.
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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mk4
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Paldo.io 🤖
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June 23, 2017, 10:57:52 AM |
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Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc. I'm looking for real responses and ideas. Please keep the trolling to a minimum  You can store it in multiple ways, probably on a paper wallet? But personally if I had much (I wish, too) I would surely invest on a crypto hardware wallet; either a Ledger Nano S or a Trezor. Why you say? A few reasons: - great security
- has built in displays
- can hold multiple cryptocurrencies
- supports 2 factor authentication (trezor does, not sure about ledger nano s)
I might sound like advertising these products to you (I'm not), but they're just really very good investments in my opinion. EDIT: I've heard Ledger Nano S is out of stock. Try looking for different sources. |
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albabit
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June 23, 2017, 11:09:37 AM |
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1 Wallet and get the key tattooed on the back of your head. Shave one part at a time and use different tattooists to do different parts of the key. Tell no one and avoid short hair cuts from then on. The beauty of this system is if you 'pass away' you can leave instructions for you relatives to shave and inherit!  |
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RedNovember
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June 23, 2017, 11:11:42 AM |
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1 Wallet and get the key tattooed on the back of your head. Shave one part at a time and use different tattooists to do different parts of the key. Tell no one and avoid short hair cuts from then on. The beauty of this system is if you 'pass away' you can leave instructions for you relatives to shave and inherit! This seems awfully risky lol! Funny to imagine but easy to screw up. The biggest threat to losing bitcoin is getting too complicated and losing your key Theft is lower threat compared to that right now? Maybe in future it will change but that's how it is currently. |
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hardtime
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Make winning bets on sports with Sportsbet.io!
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June 23, 2017, 02:59:18 PM |
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Hundred percent would probably be using something along the lines of a paper wallet or something like a hardware wallet which is going to be insanely secure. When you're going to be doing this (making the paper wallet) you're going to have to be doing it with #1 code you trust, a trusted source that made the code that you're going to be generating this wallet on so they're unable to steal anything from you after this. Next, you're going to need to do something along the lines of wiping a computer (or buying a new computer) to be running this code and doing this generation on. Print it out, and you should be fine. I'd use a secure printer as well / even write it down if you're going to want to be extra careful.
Or, skip what I wrote about a paper wallet and by a HW wallet. TRUSTED sources of course.
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Prodigan786
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June 23, 2017, 04:32:15 PM |
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Create multiple wallet or keep it or devide some for online and some offline and also some in exchange so that you can trade and withdraw in emergency.
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FasTroy
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June 23, 2017, 06:33:20 PM |
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Create multiple wallet or keep it or devide some for online and some offline and also some in exchange so that you can trade and withdraw in emergency.
You are right, Dividing your bitcoins in many wallets(Offline/Online) is the best option to keep your bitcoin safe. Also having a part in some exchange sites is too good. because if one day one wallet will be hacked, others wallet will be still in secure. |
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HashieNewb
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June 23, 2017, 07:46:18 PM |
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Hello,
I would advise you to get a hard wallet such as ledger nano S. The most secure way in my opinion to store your bitcoin safely. I have been using it for quite some time now, and it is working really well. The only thing maybe is that it is out of stock for the moment, so you will have to wait some time before it is shipped to you. hope it helped.
Cheers
I wouldn’t store a hundred Bitcoins on a hardware wallet because those things could fail. I would just try to store the coins on a computer that is usually offline and having a password on the wallet along with keeping it in an encrypted file so it would require much more time to try to get into in a worst case scenario. |
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Ethan_Locke
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Make a Bet, Make a Bit!
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June 23, 2017, 08:19:17 PM |
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Have a few Trezors, they're $150 each bro stop scrimping ;P
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skyline247
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June 23, 2017, 08:58:12 PM |
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Create a paper wallet for each 5 Bitcoins. IT IS IMPOSSIBLE to lose your BTC, if you do it right. Store them in safe deposit boxes, hidden safes in your house (you can buy small, portable safes also). Get high-quality, 24/7 security cameras monitoring outside for intruders, a foolproof alarm system... these are standard in many homes anyways, so it isn't like people will know how much money you have. Also consider laminating the paper to protect against natural decay or random accidents, such as spilling water, juice, rain, cooking... you get the point. All in all, if you do this you should be safe enough from hacking.
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Blackwhite69
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June 23, 2017, 09:39:07 PM |
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Create multiple wallet or keep it or devide some for online and some offline and also some in exchange so that you can trade and withdraw in emergency.
I agree because You better share your coin in various online and offline wallets |
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rizkyhiw
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June 23, 2017, 09:49:07 PM |
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Create a paper wallet for each 5 Bitcoins. IT IS IMPOSSIBLE to lose your BTC, if you do it right. Store them in safe deposit boxes, hidden safes in your house (you can buy small, portable safes also). Get high-quality, 24/7 security cameras monitoring outside for intruders, a foolproof alarm system... these are standard in many homes anyways, so it isn't like people will know how much money you have. Also consider laminating the paper to protect against natural decay or random accidents, such as spilling water, juice, rain, cooking... you get the point. All in all, if you do this you should be safe enough from hacking.
i agree , to avoid hacking / hijacking into your wallet better to split it on a paper walet , as when you launch even a hardware wallet it's still vulnerable , but it's not like when you have been printed it out on a paper wallet , noone can access to your bitcoin but yourself. |
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ViceOfBTC21
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June 24, 2017, 09:33:51 AM |
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Print multiple copies of paper wallets each 1 or 5 BTC and diversify them between places. Also put half of them also in the bank deposit.
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satoshforever
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June 24, 2017, 09:38:54 AM |
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I'd divide to several accounts and keep at least some of the keys in bank safe deposits (not necessarily in one country). You only need like 10-15 for any payment smaller than a car.
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Bounty Hunter
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June 24, 2017, 09:47:17 AM |
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I'd prefer to sell them, I would be too worried to lose them all making some mistakes using cold storage wallets.
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Colt22
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June 25, 2017, 08:56:32 PM |
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Print multiple copies of paper wallets each 1 or 5 BTC and diversify them between places. Also put half of them also in the bank deposit.
It is basically worth when it is in the form of bitcoin and bitcoin is usually in Internet.There is no coins of bitcoin in reality it can be store only in online wallets.If you want high profit buy bitcoins you will get high profit and it will be also store so no need to worry how to store. Paper money is also a good option but I do not think that paper material often remain for longer time. |
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Lauren Smith
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June 26, 2017, 12:03:27 AM |
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Print multiple copies of paper wallets each 1 or 5 BTC and diversify them between places. Also put half of them also in the bank deposit.
It is basically worth when it is in the form of bitcoin and bitcoin is usually in Internet.There is no coins of bitcoin in reality it can be store only in online wallets.If you want high profit buy bitcoins you will get high profit and it will be also store so no need to worry how to store. Paper money is also a good option but I do not think that paper material often remain for longer time. He means a bank locker where you keep valuables. Paper money is fine. Laminate the paper wallet . Store it in a book. I would keep a cold wallet store the osoer in a book and the book in a safe. |
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MetalGear
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June 26, 2017, 12:10:42 AM |
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Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc. I'm looking for real responses and ideas. Please keep the trolling to a minimum If I would to store 100 bitcoin i will store it at poloniex ,poloniex is an online money trading in where you will invest your bitcoin and it will grow through buying and selling bitcoin.It is a legit online money trading website. |
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micher143
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June 26, 2017, 12:26:58 AM |
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Print multiple copies of paper wallets each 1 or 5 BTC and diversify them between places. Also put half of them also in the bank deposit.
So far this is the best answer that I read, because of the splitting losing it all at once will be lessen because the funds is splitted into different cold storage so in my opinion it is good if you are holding your bitcoin into paper wallet because the hacking possibility will go down to zero so there's no entrance for hackers and that is the safest wallet of all time. Just don't lose the private key. |
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sunsilk
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June 26, 2017, 01:00:20 AM |
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I will divide it to 4 places, 20 BTC for web wallet, 20 BTC for paper wallet, 20 BTC for desktop wallet and 20 BTC for USB wallet.
And with the other remaining ones 10 BTC will be invested to a trusted casino bankroll.
While the remaining 10 bitcoin, I'm going to spend that for anything I want or exchange it for fiat.
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