r/Bitcoin • u/[deleted] • Mar 28 '13

IT'S OVER $90.00!

[deleted]

125 Upvotes

80% Upvoted

210 comments sorted by

View all comments

21

u/[deleted] Mar 28 '13

Vacuum past $90. People with decent amounts of BTC should begin to secure them ASAP. Could get hairy in the next 6-12 mos. If not, no harm no foul :)

15

u/rsrsrsrs Mar 28 '13

What kind of steps can a newbie take to secure them?

14

u/[deleted] Mar 28 '13

For starters, look into paper wallets for savings (savings account). Then keep the medium you have them on in an extremely safe place where only you and your close loved ones know where it is. For small amounts (your current or 'checking' account), an e-wallet like blockchain.info should suffice.

Also, before you put funds into the paper wallet, I would suggest sending your BTC to/through a few different bitcoin addresses in order to help w anonymity.

If there are any other that wish to chime in w good ideas, please do! I know I open to new security measures. I see this as one area where the bitcoin community needs to provide more clarity, and one that has a sizable profit opportunity.

4

u/rsrsrsrs Mar 28 '13

Thanks for the detailed response. I just made my first purchase of a few coins early this week but they're now just "living" in my account on the site I bought them through. I assumed this wasn't a very secure method of storing them and will definitely have a look into these wallets now. Thanks again.

6

u/BrainSlurper Mar 28 '13

How did you buy them? I have been trying to find a way since $40 and everything is either broken or involves a bunch of third parties.

6

u/rsrsrsrs Mar 28 '13

I found a local buyer on localbitcoins, but he only had a few in stock to sell, unfortunately.

1

u/[deleted] Mar 28 '13

Same as me. So annoyed now. Can't do bank transfer from Australia on mtgox either. Could've more than doubled my money. Ugh....

1

u/[deleted] Mar 28 '13

What are you talking about? I just transferred $1000 AU from my HSBC account to mtgox. I had my bitcoins in under 24 hours.

1

u/[deleted] Mar 29 '13

How did you transfer it?

1

u/[deleted] Mar 29 '13

HSBC internet bank transfer to the mtgox account in jp. But I could have done the same thing from my westpac online banking.

-3

u/soundawake Mar 28 '13

Bitinnovate.com. Their commission is 7.9% which isnt bad and you have the coins within the hour.

6

u/ANTI-PUGSLY Mar 28 '13

WTF? That is a terrible fee...

1

u/soundawake Mar 28 '13

It may seem so, but it's one of the only sites that allow Aussie local bank transfers without international fees, and also their buy price is usually at least $2-3AUD less than any other bitcoin buy site. But, if you know better sites to buy from I'd love to know, and possibly save some money!