How would you store >100 Bitcoins?

[Anegg]

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

Oh god, 100 Bitcoin what things you could do with that!
Other than just selling half and withdrawing to my bank account I would probably do this. (Old post but seemed interesting so I posted)

Make around 5 different wallets and carry the passwords on a piece of paper that is hidden inside your watch. It is 100+ Bitcoin so this doesn't sound ridiculous to me. Then for those 5 different wallets enable 2 step for added security and link that to a phone that you can hide in a safe. For the 10 wallets I would label them like this:

1. <1 Normal spending wallet, when it reaches a certain amount, transfer some money from your other wallets (online wallet)
2.  10-20 Your big spender wallet, for electronics, furniture and mostly just big purchases. (hardware wallet)
3. 10-20 Use this wallet to pay for stuff that is unavoidable like tax, bills. (hardware wallet)
4. 10-20 Your bank, where is only used when your other 2 wallets run out of money. (hardware wallet)
5. 50 This would be the one where you use your hardware wallet or cold storage.

[h3nchm19]

If you are storing MORE than or even half of that (which is equal to 300k, allot of money by every countries standard), a paper or an offline hardware wallet is necessary, even better, a paper wallet generated through Armory and 3-4 copies of it (encrypted) are stored in multiple bank vaults.

[Fishbones78]

I would hold 5 BTC in Coinbase for easy transactions.
Then, I would split the last 95 or more into cold wallets, no more than 5 BTC each. I understand that generating a set of private keys already in use is very very very unlikely, but I couldn't trust it. There is still a chance someone will get a new wallet with 100 of your BTC sat in it. Id back up all of the cold wallets onto several different media forms, USB drives, HDD and CDs and store them in my home and safety deposit boxes.

With that kind of money I would take as little risk as I could.

[egajuarsa]

Distributing 10 to 20 pieces of different wallets is the smartest behavior. But to me it is impossible to have 100 bitcoins! It is that absurd and meaningless to discuss it.

[keithers]

Since we are talking about a high number of bitcoins, do any of you have experience using multiple different trezor devices at the same time?

Are there any issues that arise in the web wallet when you disconnect one, and then connect the other?   I have managed to have a few issues with Safari browser (on Mac OS) using only 1 trezor, but it has been smooth sailing with Chrome (on Windows and Mac OS).

[Bitmore]

Since we are talking about a high number of bitcoins, do any of you have experience using multiple different trezor devices at the same time?

Are there any issues that arise in the web wallet when you disconnect one, and then connect the other?   I have managed to have a few issues with Safari browser (on Mac OS) using only 1 trezor, but it has been smooth sailing with Chrome (on Windows and Mac OS).

I am considering this.  I have ordered a second Trezor.
I would think no problem. 

I think you could even keep the same six digit PIN and password with both since the two Trezors would have different seeds and private numbers.  Unplug one, plug in the other.
I don't know for sure, but I don't see why not, and that way you only have to memorize one password and PIN.

 

[darkangel11]

Distributing 10 to 20 pieces of different wallets is the smartest behavior. But to me it is impossible to have 100 bitcoins! It is that absurd and meaningless to discuss it.

Why would you divide it into so many different wallets and addresses? You'd have really high probability of losing the coins simply by forgetting the passphrase or key in case of a paper wallet.
It's best to use one wallet with one backup divided into many backup copies stored in different places instead of having many addresses in many wallets. That's just a mess.

[ArnoldChippy]

100+ bitcoin is a huge amount! for me I just cast out some of it, then I keep other to different online wallet account so I can save if or grow it for a long time investment.

That is the worst you can do to store it in an online wallet. If you are meaning online web wallet you are making a big mistake to leave more than 100 btc to some other parties as you need the website of these wallets to operate your bitcoins and these websites are not always 100% online. If you mean Electrum or Bitcoin core then it may be Ok but for the best always use a hardware wallet for such case.

i think it is easy if you try to use multiple online wallet. where you can distribute your 100 bitcoin and can keep them safe there. i think that is one of the simplest way  of keeping your bitcoin safe in a safe place.

[mornabo]

Distributing 10 to 20 pieces of different wallets is the smartest behavior. But to me it is impossible to have 100 bitcoins! It is that absurd and meaningless to discuss it.

The fact is that currently there are very few users who have bitcoin amounts greater than 100 btc. So I think these tips will not give much benefit to many users lol. But it's a good idea to share it with lots of wallets. Of course it will be safer

[malikusama]

If i have more than 100 BTC i will distribute it in different wallets (i prefer to use offline wallets), so that if any one of my wallet is compromised then I can't lose all my money.

[btctousd81]

i would divide those 100 bitcoins in group of 10 or 20, then upload wallet or private keys in gmail.
and then secure gmail with 2 factor authentication with G authenticator app.
becuase google is more secure than anything else.

[slackcryptoz]

i would divide those 100 bitcoins in group of 10 or 20, then upload wallet or private keys in gmail.
and then secure gmail with 2 factor authentication with G authenticator app.
becuase google is more secure than anything else.

I will be placing half of the bitcoins in an offline desktop wallet, remaining will be dispersed into different wallets, and in few exchanges for trading purpose. I'll have a separate wallet for regular spending. Thia will be my plan when I make more than 100btc in the future.

[ethereumhunter]

i will keep 50 bitcoin in a trezor hardware, 2 bitcoin in each of exchanges let say i used 5-7 exchanges for doing trading), the rest maybe i will save it in blockchain and i am not using the amount in blockchain in any purpose except i am on emergency situation. its the best way that we can do if we can save our bitcoin in many wallets but we need to managed on every wallet.

[HabBear]

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?

Suuurre, "uhh, I'm just asking for a friend." Joke.

It's a great question.

One person mentioned having a new address for each 5-10 BTC, I think that opens up more risk than it mitigates, especially if all those wallets are with the same provider.

You need to create a simple, logical, well thought through system that works for YOU!

Hardware wallet. Treat it like the vault that it was meant to be. Have extra wallets (not back ups), just in the box and ready for an immediate restore if needed. Keep multiple copies of the pass phrase in multiple locations and recite your passphrase words frequently, eventually they'll just be in your brain like everything else we remember.

If you're worried about tracking transactions use one wallet provider to convert fiat to bitcoin. Use another for daily/regular transactions. Use another for your vault. Get a debit card to make converting bitcoin back to fiat easy.

Don't leave watch wallet apps or accounts open on your phone or laptop. It's easy to set the "remember me for 30 days" option to bypass authentication on the device you use most regularly.

Consider using an IP address anonyminizer whenever you conduct heavy bitcoin transactions.

The key is that the system is logical and manageable for you. That way you'll never miss a step or forget something critical.

[Taskford]

every 5 or 10BTC ... use a new wallet.
i do this.

when you pay ... seller don't know if you have more than 5 or 10 BTC.

New wallet or new private key? What about a reasonable cold/hot wallet mixture? And what about online wallets so that your coins are portable?

I feel there should be a good ratio of such wallet types, I just don't know which ratio would be best.

It seems like 1-2 cold storage wallets, 1 PC hot wallet, 1 brain wallet?, 1 phone hot wallet and 1 internet hot wallet might work, but then what ratio of coins to each wallet?

Definitely, that sounds good distribution. Much safer than storing all your btc in one wallet. You'll feel secured if you gonna do this.
Looks like having huge amount of btc is a headache. I wish I'll have headache too. 

[btctousd81]

i would divide those 100 bitcoins in group of 10 or 20, then upload wallet or private keys in gmail.
and then secure gmail with 2 factor authentication with G authenticator app.
becuase google is more secure than anything else.

I will be placing half of the bitcoins in an offline desktop wallet, remaining will be dispersed into different wallets, and in few exchanges for trading purpose. I'll have a separate wallet for regular spending. Thia will be my plan when I make more than 100btc in the future.

that will work, but managing all these wont be more work, instead of keeeping 2 wallets one offline and another online for trading .
lets say using my method, splitting 100 btc in 20 wallets.,
dang keeping 20 wallets and their private keys and passwords., will be a mess.,

[Ashtville]

The ideal method to store that many would be -IMO- A paper wallet, Although Hardware wallets are useful but they are still under some security threats and are mainly wallets for use not for long term storage of coins, My opinion would be an offline generated address and private key combination, stored (encrypted) in 3-4 different bank vault (which is sometimes free or with $~10 yearly rent).
Safest method IMO.

[BitHodler]

The ideal method to store that many would be -IMO- A paper wallet, Although Hardware wallets are useful but they are still under some security threats and are mainly wallets for use not for long term storage of coins, My opinion would be an offline generated address and private key combination, stored (encrypted) in 3-4 different bank vault (which is sometimes free or with $~10 yearly rent).
Safest method IMO.

It makes no sense to store your (encrypted) private keys in a bank vault as that would mean that you're technically not the sole owner of your coins anymore ~ so no, it's not the safest option.

At this point there is nothing that beats hardware wallets. Especially if you make use of Ledger wallets, which don't require you to input your seeds through your PC, but directly into your device.

[OVOBTC]

Using a very secure way of course, Considering THIS is 300,000 USD or close to that (I'm not following the price for a day or so, should be around that range lol).

* Paper wallets with a passphrase of at least 14 letters combining all letters, symbols and numbers AND of course easily remembered to you.
* Making 4-5 copies and saving them in different secure and private locations.

[rickbig092]

The answer is definitely related to a trezor or a hardware wallet, very secure and made to keep and store bitcoins so it is the ultimate well-prepared bitcoin wallet, the advantage over paper wallet is that the money is quickly accessible.
That is a big investment so if someone is storing that much doing own research is necessary.