Post
Topic
Board Beginners & Help
Re: Best place to park bitcoin
by
virtualx
on 05/06/2015, 09:27:52 UTC
I believe in bitcoin despite the mediums I and most people tune into though. So... is there a place / process where I can buy bitcoin, forget about it, and come back to in 10 years when it hits 10,000 usd per coin? Reputable sources / sites etc?

To control a bitcoin address (start transactions) you need the public key and private key, which make up your wallet. There are several solutions:

A paper wallets which has both a public and private key on it. They usually show a QR code. While generating a paper wallet make sure you are not connected to the internet and that your device is clean from virus. To protect it from damage, you could print the wallet on a hard surface or put plastic on it. I am certain that in 10 years this will be available, they do not require any computer ports etc.  

A hardware wallet such as Trezor, Ledger.  Make sure the device lasts 10 years. A small list of hardware wallets can be found here: https://en.bitcoin.it/wiki/Hardware_wallet