Post
Topic
Board Bitcoin Discussion
Re: Is trezor the safest way to keep coins!?
by
BoXXoB
on 07/01/2017, 19:57:07 UTC
I saw many discussions on here talking also for offline wallets..papper wallets or cloud ones.

Wich one is the best ?

I'd very much like to tell you which wallet is the best but that's a question you can't get an answer for.

Each wallet serves their own purpose. There are wallets that are good as a hotwallet (quick spending, mobile perhaps). This is a wallet you'd typically send from while making small payments etc. Or you might want a cold wallet. This is a wallet you don't spend from as frequently and you typically hold larger amounts in a cold wallet.

What is good about Trezor is that it's good for both! You can use it as a hotwallet and also as a cold wallet. Trezor holds private keys in the device itself and they are never shared with the device that you use the Trezor with. The device signs the transaction and the device you use it from broadcasts the transaction. Trezor is a very good device and you can feel safe holding bitcoins in one.

You mentioned paper wallets. They CAN be the safest option but they can also be the worst option. It all depends on how you handle the keys and spend your coins. You must create the private keys offline and on a secure device. After generating the keys offline and printing the keys (preferably with a printer that doesn't save data) you should keep the keys in a safe for example or out of plain sight somewhere you feel like they will be safe. It would probably be for the best to divide your bitcoins between a number of addresses so that you can spend only a portion when necessary (paper wallet addresses shouldn't be reused). Spending the coins is also something you need to put thought into. The best option would be signing the transaction offline and only broadcast it from a device that is connected to the internet.