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Author Topic: Does anyone keep $10k+ Worth of BTC in Coinbase/Blockchain?  (Read 1963 times)
viking02 (OP)
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December 19, 2014, 07:05:53 PM
 #1

Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?





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AltcoinInvestor
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December 19, 2014, 07:08:57 PM
 #2

I guess you and anyone shouldn't

Even papar wallet you should splitt the coins.
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December 19, 2014, 07:45:55 PM
 #3

Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?





I used to keep all my coins on Blockchain.info, but then I decided it was too risky, so right now, I have the private keys encrypted and uploaded to cloud storage. Not sure how much safer that is, though.
I would get some paper wallets, but I'm afraid that I'll lose them or they will become damaged (e.g. water, fire).
Now, I'm thinking of getting some physical Bitcoins.
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December 19, 2014, 08:05:55 PM
 #4

Never had that much yet in bitcoins but if i were to i would have split them into different paper wallets or just bought a hardware wallet.
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December 19, 2014, 08:11:11 PM
 #5

Definitely no, spread across a couple hardware / cold storages. Only keep small amount on mobile for small payments (small in my case is 100$ max on my device at a given time). 

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December 19, 2014, 08:37:40 PM
 #6

I'd definitely recommend a paper wallet or a hardware wallet.  I prefer the paper wallet method because it's free, but to each his own.

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December 19, 2014, 10:20:47 PM
 #7

Never leave more than pocket money on an online wallet.
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December 19, 2014, 10:53:03 PM
 #8

Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?






no. you should keep that in a hardware wallet like these:

https://bitcointalk.org/index.php?topic=899253.0

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December 19, 2014, 11:41:13 PM
 #9

If you have that amount of money you better hold it yourself in a paperwallet instead of holding it in a 3rd party. Is like if you have 10k$ in an unknown bank.
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December 19, 2014, 11:50:54 PM
 #10

The issue with paper wallet is i would be sending btc and receiving it.  So you saying keep the paper wallet on me at all times when i do these transactions?  Thing is im not looking to keep btc long term and store it somewhere like imagine i store gold or some document in a safety deposit box that i would go there every once in a while.  I would plan to do probably 10 transactions a month at the max... but definitely close to 1 a week, whether its sending the btc to sites or receiving it and then send to coinbase to sell back to bank account.




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December 20, 2014, 01:42:11 AM
 #11

The issue with paper wallet is i would be sending btc and receiving it.  So you saying keep the paper wallet on me at all times when i do these transactions?  Thing is im not looking to keep btc long term and store it somewhere like imagine i store gold or some document in a safety deposit box that i would go there every once in a while.  I would plan to do probably 10 transactions a month at the max... but definitely close to 1 a week, whether its sending the btc to sites or receiving it and then send to coinbase to sell back to bank account.




You don't necessarily have to keep BTC for a long time if you're using a paper wallet, in fact paper wallets are just a safer way to work with BTC, it's just like coinbase but better. It's not difficult to keep your paper wallet on you most of the time, you can put it on a USB or on your computer. If you need to use coinbase store all your btc in the paper wallet and make the transactions from there.

Paper wallets are not like deposit boxes, most people use them for long-term storage but you can work short-term with them. If it's 10k we're talking about then it's definitely worth using that kind of wallet even if it takes a bit more effort/time.

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December 20, 2014, 02:20:15 AM
 #12

The issue with paper wallet is i would be sending btc and receiving it.  So you saying keep the paper wallet on me at all times when i do these transactions?  Thing is im not looking to keep btc long term and store it somewhere like imagine i store gold or some document in a safety deposit box that i would go there every once in a while.  I would plan to do probably 10 transactions a month at the max... but definitely close to 1 a week, whether its sending the btc to sites or receiving it and then send to coinbase to sell back to bank account.



Maybe you can use an electrum seed it will be as safer as a paper wallet but easier to save all your wallets in a 12 words password.
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December 20, 2014, 02:28:01 AM
 #13

there are many people that do it but it is not recommended at all
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December 20, 2014, 02:31:31 AM
 #14

You would have to be a moron or incredibly brave to do that. I keep less than 100 bucks...

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December 20, 2014, 06:09:58 AM
 #15

Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?

The only one who should keep $10k of Bitcoins in a hot wallet is the one who owns millions of dollars and can afford to lose $10k.
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December 20, 2014, 06:14:19 AM
 #16

Keep money in online wallets only what you can afford to loose in any case you loose Sad

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December 20, 2014, 08:19:52 AM
 #17

yes it definitely, while waiting for the price to the $ 10K  Grin
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December 20, 2014, 10:44:17 AM
 #18

Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?


Why not keep it yourself in your computer, im pretty sure its safer then putting in online wallet. You can always use bitcoin-core as a wallet and some anti-virus software.

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December 20, 2014, 11:13:58 AM
 #19

Thus keep it there without it in a paper wallet?  I read its very unsafe b/c those are hot wallets but if u plan to do transactions once a week at least, i read paper wallets are not good b/c its meant for long term storage.  Im sure there are lot of ppl that has kept this much money in their accts right?


Why not keep it yourself in your computer, im pretty sure its safer then putting in online wallet. You can always use bitcoin-core as a wallet and some anti-virus software.

Or just use Linux/Max OS X instead of Windows + Anti Virus and Anti Spyware and Firewall and some other additional applications ;-)
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December 20, 2014, 02:31:55 PM
 #20

Too much money to save on online wallet, you should keep your btc to hardware wallet like trezor, ect.
Or wallet desktop  like core and ect.
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