How to store your Bitcoin in a safe way? -> HARDWARE WALLETS!

[edward_cullen]

Mutliple back ups encrypted with your gpg keys and versions encrypted several of your friends gpg keys.

[Muhammed Zakir]

Mutliple back ups encrypted with your gpg keys and versions encrypted several of your friends gpg keys.

Then you would have to back-up your PGP secret key. If your PGP lost due to formatting of computer or data corruption, your BTC will be lost. It is better to encrypt the qr-code with password than PGP encryption.

   ~~MZ~~

[hyphymikey]

Trezor. And I love it.

[ninjaboon]

use multi sig on a Linux laptop or paper wallets. safe bet.

[picolo]

Mutliple back ups encrypted with your gpg keys and versions encrypted several of your friends gpg keys.

Then you would have to back-up your PGP secret key. If your PGP lost due to formatting of computer or data corruption, your BTC will be lost. It is better to encrypt the qr-code with password than PGP encryption.

   ~~MZ~~

I prefer the option of having a password too. You need to have a password never used elsewhere, with a high level of entropy but that you will remember

[Coef]

These hardware wallets are still not cheap enough IMO to compete with paper wallet. Yes, they are easier to use but the price is still a bit too high to hit the mass market.

[CoinCidental]

for me i just move the wallet dat to my usb

You should have cds, dvds, USB sticks, sd cards, paper wallets, cloud storage, email attachments and any other way you can think off

Never just have 1 backup of your btc wallet

Everything can fail over time so the more copies of it you hand the better if you have a non trivial amount of btc

[sgk]

A quote from the article:

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

[Coef]

A quote from the article:

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

[picolo]

A quote from the article:

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

You can spend the paper wallet in a second with the qr code.

[Coef]

A quote from the article:

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

You can spend the paper wallet in a second with the qr code.

If you are using a compromised computer, your bitcoin will be gone the second you imported the private key in your paper wallet.

[Muhammed Zakir]

A quote from the article:

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

You can spend the paper wallet in a second with the qr code.

If you are using a compromised computer, your bitcoin will be gone the second you imported the private key in your paper wallet.

With mycelium, it is more secure to spend from a paper wallet. You scan qr-code, it finds unspent bitcoins instantly and you can create a TX and push it. It will wipe everything related to that address after pushing.

   ~~MZ~~

[BITMIXER.IO]

I recommend Armory wallet with fragmented paper backup. You may distribute several fragments between your friends or family.

[picolo]

A quote from the article:

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

You can spend the paper wallet in a second with the qr code.

If you are using a compromised computer, your bitcoin will be gone the second you imported the private key in your paper wallet.

As long as your BTC are on the paper wallet you are safe then you can use a non compromised computer to spend them.

[samuelseidel]

It isn't securest way to keep your bitcoins, but maybe cheap and secure.

I think that paper wallet is better for small amounts, and for bigger amounts you should buy and use Bitcoin Trezor.

[picolo]

It isn't securest way to keep your bitcoins, but maybe cheap and secure.

I think that paper wallet is better for small amounts, and for bigger amounts you should buy and use Bitcoin Trezor.

If you do things correctly a paper wallet is very safe for large amounts too.

[tegli4a]

+1

Paper wallet is secure and cheap, just you have do it as it has to be

[shadowmoon]

Use Paper wallet

Free and Secure 

[Simon8x]

It isn't securest way to keep your bitcoins, but maybe cheap and secure.

I think that paper wallet is better for small amounts, and for bigger amounts you should buy and use Bitcoin Trezor.

If you do things correctly a paper wallet is very safe for large amounts too.

Exactly. If you create your paper wallet correctly (no internet, fresh OS, use open-source tested script, provide enough entropy with mouse movement, remove everything afterwards) then your bitcoin in it is very safe.

[elliwilli]

That's pretty cool.
For now im sticking to a offline wallet stored on a flash drive in a firesafe.