Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc.
I'm looking for real responses and ideas. Please keep the trolling to a minimum
I'm looking for real responses and ideas. Please keep the trolling to a minimum
Oh god, 100 Bitcoin what things you could do with that!
Other than just selling half and withdrawing to my bank account I would probably do this. (Old post but seemed interesting so I posted)
Make around 5 different wallets and carry the passwords on a piece of paper that is hidden inside your watch. It is 100+ Bitcoin so this doesn't sound ridiculous to me. Then for those 5 different wallets enable 2 step for added security and link that to a phone that you can hide in a safe. For the 10 wallets I would label them like this:
1. <1 Normal spending wallet, when it reaches a certain amount, transfer some money from your other wallets (online wallet)
2. 10-20 Your big spender wallet, for electronics, furniture and mostly just big purchases. (hardware wallet)
3. 10-20 Use this wallet to pay for stuff that is unavoidable like tax, bills. (hardware wallet)
4. 10-20 Your bank, where is only used when your other 2 wallets run out of money. (hardware wallet)
5. 50 This would be the one where you use your hardware wallet or cold storage.