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/biz/ - Business & Finance

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2194919 No.2194919 [Reply] [Original]

Alright, I have 3 BTC. I don't know anything about how it works though and I am low IQ. Currently I have it stored on kraken but I don't trust it. I also read that storing bitcoin takes up like 200GB+ on your computer?
Anyways, how do I protect my BTC as much as possible? I'd appreciate simple language, thanks!

>> No.2194946

paper wallet
https://bitcoinpaperwallet.com/
https://en.bitcoin.it/wiki/Paper_wallet

>> No.2194956

storing the entire history of the blockchain takes a lot, storing btc is just a matter of generating an address and sending the coins there

>> No.2194967
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2194967

ok rule number one never bet against the bean

>> No.2194992

Are hardware wallets a good investment? I was looking at the nano ledger s

>> No.2195003
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2195003

>>2194967
love your posts man

nice moves bean keep it up

>> No.2195010

>>2194919
I use tails + electrum on usb. It is cloned so if i lose one I will have a back up. You can clone an infinite number of time and scatter them.

>> No.2195013

>>2194919
You only need to store the private key which is 32 bytes.
I suggest Electrum. It supports encrypted wallets and paper wallets. About 4-16 KB per wallet.

>>2194967
Please die.

>> No.2195024

>>2194967
BEAN ME UP SCOTTY

>> No.2195047

>>2195010
>tails
doesn't that wipe its memory after every shutdown?

>> No.2195053

>>2195047
You can set up a persistent volume so no.

>> No.2195076

>>2195053
roger that

>> No.2195094

>>2195003
>>2194967
this bean meme is so fucking funny i might actually invest

>> No.2195184
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2195184

>>2195094
>so fucking funny

>> No.2195211

>>2195184
I like your bean-coloured ID

>> No.2195224

>>2194919
>how do I protect my BTC as much as possible?
Get a hardware wallet like Ledger (I recommend the Nano S) if you want to be completely safe. Even if you create a wallet on your computer and move the money from the exchange to it, as long as the computer's online there's still the possibility of having your shit stolen by malware. A hardware wallet like Ledger works by never exposing the private key, so even on an infected computer it's safe. The only exception would be if you have malware that changes addresses (either every address displayed or by modifying the clipboard), potentially tricking you into sending funds to the malware author's address.

>> No.2195933

>>2195047
that's the point

>> No.2195940

Store it on bittrex, safer than any wallet and other site.

>> No.2195947

>>2195010
Sounds like a good idea mate, will try this