Bitcoin storage options?

M

marcoPolo21

I've been accumulating bitcoins, through Coinbase

Is their [self managed] multisig vault safe, for longer term storage?
They mention, it's good if Coinbase were to get hacked, or goes bankrupt.

Is there anything better, non Coinbase, or would it essentially be the same thing?


thanks
marc
:cool:
 
For longer term storage the basic rule and automatic answer is, do not keep it online. Paperwallet, brainwallet, whatever gizmo you want to buy, just do not keep your coins online...
 
Pekelo said:
For longer term storage the basic rule and automatic answer is, do not keep it online. Paperwallet, brainwallet, whatever gizmo you want to buy, just do not keep your coins online...
More...
Why not? They say soon it'll become the only way to pay
 
Well, google "bitcoin wallet hack" and read the horror stories. Even exchanges aren't that safe, but obviously you need to have money/bitcoin at an exchange if you want to trade.

The OP asked for longer term storage, there is simply no good reason to trust anybody else than yourself (and I advise anyone to take security very seriously) with your bitcoin. On the r/bitcoin subreddit almost everyday there is someone complaining about being hacked. Most of the time it is their own fault, but sometimes it is a hacking app stealing your password.

Bitcoin is not ready for primetime or for the masses, so if one wants to invest in it, an offline storage is a MUST. You should only keep as many coins in your hot wallet what you are going to use in the coming days...

By the way I wouldn't hold bitcoin for longer term as an investment. It is going to die a slow death, but as a daytrading device, it is perfect for trading because it fluctuates so wildly....
 
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"offline" - say a laptop or computer, is that just one place?
can you have a backup also [two copies] ?

without a backup,
what if you lose access to your computer, or lose your laptop, etc?

thanks
marc
:confused:
 
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