Bitcoin Wallet For Receiving Bitcoins and Online Transfers?

[viking02]

I can afford the trezor.  However the thing is shiping takes very long.  Read it take over 1 month from someone in a post who is also from east coast in the usa.


I read paper wallets are easy but im still confused about it.  Do i need to have the paper wallets on me all the time though if i transfer btc quite a bit?  Example i will buy just $100 worth of btc just to test it out.  Afterwards i will buy 5-10k worth of btc.  I would then send it to gambling sites.  but i would also plan to receive btc and send btc to other users while trading poker funds and vice versa.  So if i have all btc in a paper wallet and let say i put it in safety deposit box, does that mean i cannot transfer any of these btc without the paper wallet on hand?


Example say i bought 30 btc.  Do i do the paper wallet now or i do it even before i get any bitcoins?  Then say i transfer 25 btc to gambling sites and have 5 btc left.  Its on multibit let say.  Then i receive 2 btc from someone else.   At what point is the paper wallet ever in use?  It seems like paper wallet is a place where your btc is stored but u cant touch it unless you have the physical paper wallet on hand?  Thus say i have 30 btc and its in paper wallet.  Now let say i cashout 10 btc from gambling site to mulitbit.  So does that mean if i want to cashout 40 btc to my bank acct, i could only do 10btc and not 40btc b/c the 30btc is still in my paper wallet which is in safety deposit box?


I read a lot about it and just still confused.  I thought it was simple when i read coinbase to blockchain to gambling site and vice versa then hear about backups.  I also hate the word private keys as well as thats even more confusing.

[ChuckBuck]

If you have 30 BTC to work with, divide that it into multiple wallets like you do your regular money.

You don't carry a single $10,000 bill, do you?  Divide it into multiple paper wallets, hardware, and software wallets as well.

The software ones carry the least, for hot spending, the paper wallets medium amounts like 1-2 BTC, then if you plan on like 5-10 BTC or more, store that on your Trezor.

[viking02]

Someone just told me that if paper wallets are meant for long term storage and not meant to be used if you plan to do transactions daily.  is that true?  If thats the case, then how do you ppl who do lot of transactions with btc keep it safe then with paper wallets?


This is just really confusing and i like to get a straight clear answer. 



If i plan to buy btc to mostly use it for gambling sites like heritage sports/5dimes, basically i need to use some type of desktop client or wallet to go from coinbase to there and then to heritagesports/5dimes.  Reason b/c coinbase doesnt like gambling transactions and also i read dont keep lot of btc in coinbase or blockchain or even a desktop client like multibet without a paper wallet.


I would probably be doing some transfer with btc with other ppl but overall, i guess i probably doing 1-2 transactions with btc a week.  Might even 1-2 transaction every other week.  If thats the case, what is my best option then?  What is really confusing is someone say paper wallet is meant for long term storage and that isn't what i really want.  Like i dont want to keep 10k worth of btc in a palce where i wont touch it for 1 year b/c i would need to send/receive every other week.  Also i still havent gotten an asnwer to this but if i keep the btc in a paper wallet in a bank depsoit box... how am i suppose to send or receive the btc in my paper wallet to others if i dont have the paper wallet with me?  Or i could still do this?


Also when i do btc transactions, they will be at least $1000 each.  I wont be doing small amounts but i probalby do a few of these $1000+ few times a month whether sending or receiving.  So based on my situation, is trezor or ledgerwallet the best for me?  Again, im very not computer savy at all.  All this about doing paper wallet and need computer need to be turned off... then i hear terms like private keys just confuses the heck out of me. 

[axel2078]

Someone just told me that if paper wallets are meant for long term storage and not meant to be used if you plan to do transactions daily.  is that true?  If thats the case, then how do you ppl who do lot of transactions with btc keep it safe then with paper wallets?


This is just really confusing and i like to get a straight clear answer. 



If i plan to buy btc to mostly use it for gambling sites like heritage sports/5dimes, basically i need to use some type of desktop client or wallet to go from coinbase to there and then to heritagesports/5dimes.  Reason b/c coinbase doesnt like gambling transactions and also i read dont keep lot of btc in coinbase or blockchain or even a desktop client like multibet without a paper wallet.


I would probably be doing some transfer with btc with other ppl but overall, i guess i probably doing 1-2 transactions with btc a week.  Might even 1-2 transaction every other week.  If thats the case, what is my best option then?  What is really confusing is someone say paper wallet is meant for long term storage and that isn't what i really want.  Like i dont want to keep 10k worth of btc in a palce where i wont touch it for 1 year b/c i would need to send/receive every other week.  Also i still havent gotten an asnwer to this but if i keep the btc in a paper wallet in a bank depsoit box... how am i suppose to send or receive the btc in my paper wallet to others if i dont have the paper wallet with me?  Or i could still do this?


Also when i do btc transactions, they will be at least $1000 each.  I wont be doing small amounts but i probalby do a few of these $1000+ few times a month whether sending or receiving.  So based on my situation, is trezor or ledgerwallet the best for me?  Again, im very not computer savy at all.  All this about doing paper wallet and need computer need to be turned off... then i hear terms like private keys just confuses the heck out of me. 

Yes, paper wallets are meant for long-term storage. You don't generally want to spend from your paper wallet. Keep the bitcoin that you want to spend in a hot wallet such as a bitcoin wallet app on your phone or computer. If you will be conducting large transactions on a regular basis, then I'd probably recommend a strong hardware wallet like Trezor or ledgerwallet. Both should suffice for this need.

[Farmer17]

Someone just told me that if paper wallets are meant for long term storage and not meant to be used if you plan to do transactions daily.  is that true?  If thats the case, then how do you ppl who do lot of transactions with btc keep it safe then with paper wallets?


This is just really confusing and i like to get a straight clear answer. 



If i plan to buy btc to mostly use it for gambling sites like heritage sports/5dimes, basically i need to use some type of desktop client or wallet to go from coinbase to there and then to heritagesports/5dimes.  Reason b/c coinbase doesnt like gambling transactions and also i read dont keep lot of btc in coinbase or blockchain or even a desktop client like multibet without a paper wallet.


I would probably be doing some transfer with btc with other ppl but overall, i guess i probably doing 1-2 transactions with btc a week.  Might even 1-2 transaction every other week.  If thats the case, what is my best option then?  What is really confusing is someone say paper wallet is meant for long term storage and that isn't what i really want.  Like i dont want to keep 10k worth of btc in a palce where i wont touch it for 1 year b/c i would need to send/receive every other week.  Also i still havent gotten an asnwer to this but if i keep the btc in a paper wallet in a bank depsoit box... how am i suppose to send or receive the btc in my paper wallet to others if i dont have the paper wallet with me?  Or i could still do this?


Also when i do btc transactions, they will be at least $1000 each.  I wont be doing small amounts but i probalby do a few of these $1000+ few times a month whether sending or receiving.  So based on my situation, is trezor or ledgerwallet the best for me?  Again, im very not computer savy at all.  All this about doing paper wallet and need computer need to be turned off... then i hear terms like private keys just confuses the heck out of me. 

It will be too troublesome to use paper wallet then, as you will need to import the wallet to send bitcoin in an online computer, send bitcoin to gambling sites, and send the remaining bitcoin to a newly generated paper wallet.

I believe a hardware wallet like Trezor seems to be the best option for you.