Copay is a secure bitcoin wallet for friends and companies. Easy-to-use multisignature bitcoin wallet, bringing corporate-level security to ordinary people. When friends or company executives join a Copay wallet, more than one person must sign every transaction. If your computer is compromised and your private keys are stolen, the bitcoins are still safe. This is in addition to state-of-the-art encrypted storage and communication.
Hi! Can someone please point me to the appropriate thread? (Safe Bitcoin Storage)
I'm sure something concise and complete probably exists, so I'm hoping someone can point me in the correct direction. As something of a noob to the technical aspects of bitcoin, I have some jitters about moving a pleasantly increasing amount of value into a storage system I don't sufficiently understand. My coins are currently all stored on Coinbase, where I have Bitcoin, Litecoin and Etherium stored. I've mostly been comfortable with them hodling them for me, but the confluence of the spike in value and their current woes have me ready to make a change. I would especially appreciate a concise video that would help me understand the logistics of a paper wallet or other recommended storage system. Many thanks for reading my incessant noobery :D
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9 Awesome, Time-Tested Tips for Ultimate Bitcoin Safety
No, you’re not paranoid. Having your Bitcoin stolen is a real risk. And it’s a more common problem than many in the crypto community would like to admit. Hackers and phishers have already stolen billions of dollars’ worth of Bitcoin. And while each case is unique, better security measures could have prevented most of these thefts. So to help you avoid the agony of losing your hard-earned crypto, we're compiled this easy-to-follow list of tips for safe Bitcoin storage.
Avoid Online Wallets like the Plague
We get it. Having to choose, set up, and configure a software wallet can seem like a hassle and a massive waste of time. Why not just use a web wallet instead? There’s no need to set anything up or worry about software compatibility. And many exchanges give you one by default when you register, so you don’t even need to make a separate account. Isn't that just the most convenient thing ever? And yes, web wallets are super convenient. But you know what else they are? A bona fide magnet for criminals. Often holding millions’ of dollars’ worth of Bitcoin, web wallets are the prime target of hackers. And with the bounty sometimes measuring in the tens of millions of dollars, it does not seem like this will change soon. So our advice to you is to avoid web wallets like the plague.
Upgrade to a Safer Software Wallet
When it comes to security, not all software wallets are created equal. And it’s not even close. Some software wallets offer top-tier security and are a hacker's nightmare. Others are borderline useless when it comes to keeping your Bitcoin safe. It can be tempting to choose a wallet based on its ease of use or appealing design, but you should always base your choice primarily on security. And when it comes to security, our experts have a clear favorite. That favorite is Electrum. Designed for crypto enthusiasts, Electrum doesn't have the prettiest user interface and is not the easiest to use. But what it lacks in design and accessibility it more than makes up for in safety and security. If you invest the time and patience needed to learn to work with it, Electrum will become your trusted partner for many years to come. Our experts cannot recommend it enough. But if you feel that Electrum is more than you can chew, we recommend Exodus as a more user friendly alternative. Striking a good balance between security and accessibility, Exodus offers much better security than most of its competition without the high learning curve of Electrum.
Keep Your Devices in the Best Possible Security Condition
No matter how secure your software wallet is, there's little it can do to protect you if your device gets hacked. So if you plan to use Bitcoin regularly, you must make sure your devices are in the best possible security condition. While the exact specifics will vary based on your device and operating system, in general, you must ensure your device has at least the following:
Good antivirus and anti-spyware software;
Secure virtual private network (VPN);
Latest security and software updates;
Up-to-date modern web browser.
Consider Using a Dedicated Linux Machine for Your Bitcoin Transactions
Taking things a step further, many users elect to have a dedicated machine used for nothing but Bitcoin transactions. In general, this is a very good idea. And it’s an even better one if that dedicated machine runs a Linux distribution. Not only is Linux known for being very secure, its comparatively miniscule user base also makes it a less appealing target for hackers. Put simply, hacking is a numbers game. As a hacker, you want your attack to target as many people as possible. So it is in hackers’ best interests to write malicious code for Windows and macOS, since the vast majority of people use those operating systems. As a result, Linux users tend to get targeted less. Which is not to say that Linux machines don’t get malware and viruses. They do. It’s just that, statistically, you are less likely to get one.
Keep Your Bitcoin Machine Offline
Taking the last tip a step further, you might opt to keep your Bitcoin machine offline at all times. This eliminates the vast majority of hacking-related risks. In its simplest form, a setup with a dedicated offline machine would consist of the following:
A dedicated offline Bitcoin machine. Since it won’t be doing any serious processing, this can be any old laptop or PC with a fresh Linux install.
A primary, web-enabled computer. This machine should run the latest security software and OS updates.
A dedicated USB flash drive. This should only be used to transport data between your online and offline machines. Don’t store any other files on it.
A typical transaction using this setup would look something like this:
Create the transaction on your web-enabled computer.
Insert the flash drive into your main machine and transfer the transaction data to it.
Take the flash drive out of the web-enabled machine and connect it to the offline machine.
Sign the transaction on the offline machine.
Insert the flash drive with the signed transaction back into the online-enabled machine to take the signed transaction online.
Get a Multisignature (Multisig) Bitcoin Wallet
It’s extremely important to minimize your risk of getting hacked. But what happens if your private key does end up in the hands of a hacker? Does that automatically mean you have to kiss your hard-earned Bitcoin goodbye? Not necessarily. At least not if you’ve taken the preventive measure of creating a Multisig address. Multisig is an extra layer of protection that can help you protect your funds in case your main private key falls into the hands of wrongdoers. Rather than having one private key, a Multisig address has several. In most setups, to sign a transaction, you will need to possess two or more of these keys. This means that even if any one of your private keys gets compromised, the hacker still won’t be able to steal your Bitcoin. The most common Multisig setup is one called 2-of-3. You generate three private keys. To authorize a transaction, you will need to be in possession of two of these keys. The first key you store on your smartphone or computer for easy access. The second key you give to a second-layer authentication service. And the third key is your backup. You use it in case you lose access to your main key. To find out more, read our dedicated article about Multisig. Read full article at: https://wunderbit.co/blog/9-awesome-time-tested-tips-for-ultimate-bitcoin-safety
Is there a relatively safe, reliable provider of sweeping bitcoin forks from cold storage?
I'm considering selling off some of the less potential forks while there's some money there. I want to move them into a more accessible format safely and securely. I don't want to have to hit a terminal if I can avoid it.
Has anybody heard of or know of Pawn Shops that accept and/or sell Bitcoin? Could there be an issue with legality?
There's this new shop in my town and he will buy almost anything. He seemed financially smart and open to anything that could make him money. I mentioned bitcoin to him, he didn't know about it but he seemed 100% interested and planned to do research on it. I could buy much of his items / inventory from him if he accepts BTC. He could also become a liberty X location and earn free commission every month. I currently would have to drive hours for liberty x. What other advantages can I explain to him and potentially become business partners with him? Any thoughts? I can also provide him IT services/Safe bitcoin storage, etc . Thanks!
Shibes, pull your coins out of online storages, and put these on desktop or server storage. Another BTC online wallet website what hacked and lost over 800 BTC from their hot storage! just because we aren't bitcoin, doesn't mean we can't have it happen to us! Stay safe shibes!
Besides MtGox, theres lots of good news for bitcoin and its development. Can we focus on something important before the (possible) next Bitcoin spike, safe and easy storage?
I, like most/all Bitcoin users/owners believe in an even bigger future for Bitcoins. Its very likely that there could be another huge spike in interest/price in the future. What seems to be a big problem, especially for anybody who decides to start owning some Bitcoins, is storing them safely. Ive owned some for a year and am still not too sure about it. MtGox, the biggest exchange in the world wasnt able to store their coins, how can we expect a future wave of newcomers to do better? Yes there are ways to protect your bitcoins, but it is still not easy and used widely enough to be considered a done deal (try explaining to your parents about creating a paper wallet, buying multiple USB sticks as backups, loading them from a computer that has never been connected to the internet, and especially getting them out of a paper wallet again...) Newcomers getting into Bitcoin and losing their storage would be a possible downfall in its quest for what it can achieve. We can not just want bitcoin to grow (in price and user count), without protecting the user first. We need to find better solutions now before another spike happens. Tl;dr: Storing your bitcoins is still rather complicated, we need to find better solutions before another major uptrend.
Protecting your Bitcoin in safe storage is important in order to avoid losing your cryptocurrency funds. This security goes hand-in-hand with finding the right type of wallet. What is a Bitcoin wallet? In essence, a Bitcoin wallet is a device which acts to store a cryptocurrency user’s public and private key used to access their Bitcoin and digital funds. While the cryptocurrencies ... With proper education and correct storage practices to keep your Bitcoin safe, your funds are as secure as when using other financial channels (if not more secure). Bitcoin Fundamentals. NEWSLETTER. Newsletter (Sidebar) NAME * EMAIL * Time Zone. Name. This field is for validation purposes and should be left unchanged. RELATED ARTICLES . Does Bitcoin’s Enhancing Anonymity Mean Doomsday for ... So if you’re just getting into bitcoin, you’re probably worried about making sure it’s safe and secure, and if you’ve been holding onto some bitcoin for years you may want to upgrade your ... These include Bitcoin price volatility, secure storage of cryptocurrency, use of insecure third-party services, and cybersecurity threats like hacking. At the same time, we could also raise a question whether it is safe to use dollars ... Cold storage in the context of Bitcoin refers to storing Bitcoins offline and spending without the private keys controlling them ever being online. This resists theft by hackers and malware, and is often a necessary security precaution especially dealing with large amounts of Bitcoin. For example, a Bitcoin exchange which offers an instant withdrawal feature, and might be a steward over ...
How To Buy Bitcoin: The Safe And Easy Way - YouTube
What's the best cold storage wallet for bitcoin? You probably think its a Ledger Nano S or a Trezor One. Well guess what, you're wrong! In this video, I will prove to you why Ledger and Trezor are ... How To Buy Bitcoin: The Safe And Easy Way Buy Bitcoin & Ethereum http://bit.ly/2oesV41 Bitcoin & Etherum Storage Wallet: http://bit.ly/2o7BmgW Book Recommend... In this video I'll show you how to make a secure and encrypted USB Bitcoin Wallet. I'm going to use MultiBit to create this wallet and then store it onto a U... The difference between public and private keys. Why exchanges are not safe to store your crypto coins. How to keep your bitcoin, ripple, litecoin, etc. in cold storage. LEDGER NANO S - THE BEST ... Watch this video to find out my thoughts on The Safest/Best Places to Store Your Cryptocurrency! Like. Subscribe. Follow us on Twitter at: https://twitter.co...