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Board Beginners & Help
Re: What is the safest wallet to use?
by
apoorvlathey
on 04/12/2017, 19:38:59 UTC
Should I just write it on a piece of paper? What do you guys use?
The least secure thing one could imagine is using a piece of paper to save your bitcoins. It could easily get misplaced, torn, or damage in water and other conditions.
If you want a hardware wallet (much secure than paper) ,you could use trezor or ledger.
Personally, I would recommend Electrum, which is a desktop wallet. I would suggest you to encrypt your wallet file and make a secure backup of it somewhere else in case the computer crashes and breaks down.
I don't recommend anyone to save their bitcoins on online wallets like blockchain.info or coinbase or any exchanges, because you have to trust a third person to secure your funds. There is a little possibility of it getting hacked or owners taking away your bitcoins.
There is a simple saying, "If you don't hold the private keys of your bitcoins, then they are NOT YOUR Bitcoins !"