Post
Topic
Board Bitcoin Discussion
Re: The right way to store Bitcoin for long term
by
Rikafip
on 21/01/2021, 21:45:15 UTC

1) Is something like a Nano Ledger or a Trezor the right method?
Yep, hardware wallet is definitely a good option. I am personally using Ledger Nano S for a long term hold and beside some hiccups I am generally satisfied with the device itself. App (Ledger Live) could be better though but if you use it for long term btc hold you shouldn't have much issues with it. Ledger as a comoany had some data breach problems so you wanna keep that in mind too.


2) What app should be used?
I am personally using blockchain app, but only as a hot wallet where I have few hundred dollars worth of crypto max. That's not the place you wanna keep your bitcoin.


Another good alternative for a very long term hodl  you might wanna consider is paper wallet. It cost you nothing and if done properly it is a very safe way to store your bitcoin. Here is a guide how to do it.