Post
Topic
Board Bitcoin Discussion
Re: What is the best (safest) way to store BitCoin for the longer term?
by
Shermand100
on 04/09/2017, 14:17:56 UTC
Another option is to use a trusted program like "Veracrypt" (it's the new maintained version of Truecrypt) to create encrypted containers.

It basically makes a virtual disk drive of a user defined size, the contents of which is encrypted with AES-256. To quote https://veracrypt.codeplex.com/wikipage?title=AES

"In June 2003, after the NSA (US National Security Agency) conducted a review and analysis of AES, the U.S. CNSS (Committee on National Security Systems) announced in [1] that the design and strength of AES-256 (and AES-192) are sufficient to protect classified information up to the Top Secret level."

For example make a 20Mb encrypted container, secure it with a strong password, and put your backups in it. You can then email this file to yourself, keep it in your google drive, or keep it on a USB stick.

The encryption is good enough that the computer power required to break it would be better off mining blocks themselves for the 12.5 reward.