Other than that, I'm not aware of any other "cold storage" type setup for ETH, except for the use of Hardware Wallets.
Topic: Armory-like Ethereum Wallet (Read 136 times)
You can run MEW (MyEtherWallet) offline in a cold storage type setup: https://kb.myetherwallet.com/en/offline/using-mew-offline/
Other than that, I'm not aware of any other "cold storage" type setup for ETH, except for the use of Hardware Wallets.
Other than that, I'm not aware of any other "cold storage" type setup for ETH, except for the use of Hardware Wallets.
as my primary focus is security.
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its not trustless from my point of view
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its not trustless from my point of view
hence security must be close to 100%
Regardless of you plugging in a hardware wallet into your computer [specifically referring to your second PC] or not, there's still no guarantee that it's going to be or remain 100% [or close to a hundred] safe.- IMO, your best bet is to go with @bitmover's suggestion and use a hardware wallet like Trezor instead.
When you create your wallet, you receive a seed (24 words)
IIRC, for the Trezor Model T, it's 12 words by default [128 bits]. 
Password protection means nothing in cryptocurrency. THe only thing that protects your funds is your private key.
Sure, but I cannot store a private key in my head, so I need to store it at some place.
This is both:
a) An easily accessible pc for daily use (cold wallet ofc.)
b) A protected place (Paper in bank safe deposit box)
So I need additional password protection for my computer, which can otherwise be relatively easily stolen.
(Im talking lots of custody money, hence security must be close to 100%).
And while ledger / trezor etc. probably have quite a strong protection, its not trustless from my point of view (i have to plug in the device in an online pc and trust them to stay secure, trust them to have good entropy (not open sorce)
Trezor wallet is fully open source:
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How Open Source mitigates Hardware Obsolescence
Since day one, everything about Trezor hardware wallets has been open source. The software can be downloaded, shared, cloned, modified, and stored in every computer in the world without triggering any legal consequences.
https://blog.trezor.io/open-source-and-hardware-obsolescence-ce526d5eec8f
Since day one, everything about Trezor hardware wallets has been open source. The software can be downloaded, shared, cloned, modified, and stored in every computer in the world without triggering any legal consequences.
https://blog.trezor.io/open-source-and-hardware-obsolescence-ce526d5eec8f
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and it can get stolen (has no strong password protection) ) + I dont know if they have something like fragmented paperbackups.
Armory is so nice, because the security is as perfect *and* trustless as it can be for someone without deep coding skills.
Armory is so nice, because the security is as perfect *and* trustless as it can be for someone without deep coding skills.
Password protection means nothing in cryptocurrency. THe only thing that protects your funds is your private key.
Both ledger and Trezor have paper backups. When you create your wallet, you receive a seed (24 words) which has a mathematical relationship with all other private keys in your wallet. You will save the seed in a piece of paper, as a back up
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Deterministic (Seeded) Wallets
Deterministic, or “seeded” wallets are wallets that contain private keys that are all derived from a common seed, through the use of a one-way hash function. The seed is a randomly generated number that is combined with other data, such as an index number or “chain code” (see Hierarchical Deterministic Wallets (BIP0032/BIP0044)) to derive the private keys. In a deterministic wallet, the seed is sufficient to recover all the derived keys, and therefore a single backup at creation time is sufficient. The seed is also sufficient for a wallet export or import, allowing for easy migration of all the user’s keys between different wallet implementations.
https://www.oreilly.com/library/view/mastering-bitcoin/9781491902639/ch04.html
Deterministic, or “seeded” wallets are wallets that contain private keys that are all derived from a common seed, through the use of a one-way hash function. The seed is a randomly generated number that is combined with other data, such as an index number or “chain code” (see Hierarchical Deterministic Wallets (BIP0032/BIP0044)) to derive the private keys. In a deterministic wallet, the seed is sufficient to recover all the derived keys, and therefore a single backup at creation time is sufficient. The seed is also sufficient for a wallet export or import, allowing for easy migration of all the user’s keys between different wallet implementations.
https://www.oreilly.com/library/view/mastering-bitcoin/9781491902639/ch04.html
Personally, I think that using a good hardware wallet such as Trezor is much safer than using Armory (unless you are a security/blockchain expert).
I agree with you, Armory is better if you really know what you are doing. Hardware wallet are a convenient solution, but they involve some kind of trust.
Thank you for your answer.
This is quite sad, as my primary focus is security. And while ledger / trezor etc. probably have quite a strong protection, its not trustless from my point of view (i have to plug in the device in an online pc and trust them to stay secure, trust them to have good entropy (not open sorce) and it can get stolen (has no strong password protection) ) + I dont know if they have something like fragmented paperbackups.
Armory is so nice, because the security is as perfect *and* trustless as it can be for someone without deep coding skills.
This is quite sad, as my primary focus is security. And while ledger / trezor etc. probably have quite a strong protection, its not trustless from my point of view (i have to plug in the device in an online pc and trust them to stay secure, trust them to have good entropy (not open sorce) and it can get stolen (has no strong password protection) ) + I dont know if they have something like fragmented paperbackups.
Armory is so nice, because the security is as perfect *and* trustless as it can be for someone without deep coding skills.
Electrum is Bitcoin-only, right?
If so, it does not fit my need since im looking for something for Ethereum/Ether.
As I said: For me, Armory is the perfect Bitcoin-Wallet, but I cant find a good solution for Ethereum.
If so, it does not fit my need since im looking for something for Ethereum/Ether.
As I said: For me, Armory is the perfect Bitcoin-Wallet, but I cant find a good solution for Ethereum.
There isn't a decent desktop SPV wallet for ethereum. I know this is weird, but this is true. (I don't know how ethereum is this far without a decent desktop SPV wallet)
For Ethereum, the best wallets are browser/mobile. For example, MetaMask and MyEtherWallet. You can also use multicurrency wallets such as Exodus (desktop) or Coinomi (mobile)
Metamask (browser) is probably the best implementation (but they do not have watch-only feature AFAIK)
Additionally, if you have a hardware wallet you can use Ledger Live or Trezor Suite, which are good desktop multicurrency wallets. They allow you to check balance without the hardware wallet device, so they are also watch-only wallets.
Electrum is Bitcoin-only, right?
If so, it does not fit my need since im looking for something for Ethereum/Ether.
As I said: For me, Armory is the perfect Bitcoin-Wallet, but I cant find a good solution for Ethereum.
If so, it does not fit my need since im looking for something for Ethereum/Ether.
As I said: For me, Armory is the perfect Bitcoin-Wallet, but I cant find a good solution for Ethereum.
Dear Community,
im looking for an armory-like ethereum wallet, specifically a wallet that I can run in a watch-only variant on the online PC,
im looking for an armory-like ethereum wallet, specifically a wallet that I can run in a watch-only variant on the online PC,
You can create an watch-only electrum wallet. Will that fit your needs?
You can import your xpub key to electrum wallet (deterministic watch only wallet) or import each public address individually into electrum (non-deterministic).
A deterministic wallet will track all your bitcoin addresses from your master public key.
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Electrum supports two type of watch-only wallets:
Deterministic Watch-only Wallet
Open the Electrum wallet you want to create a watch-only wallet of and go to wallet menu > information. Copy the Master Public Key (MPK) you find there and save it. You will need this when creating the watch-only wallet so if you’re going to create the watch-only wallet on a different system be sure to transfer the MPK to it using a removable drive like a USB drive.
https://bitcoinelectrum.com/creating-a-watch-only-wallet/
- Deterministic watch-only wallets: These track transactions in a deterministic Electrum wallet i.e. a wallet with a seed. I cover how to create such a wallet further down in this page.
- Non-deterministic watch-only wallets: These track arbitrary and unconnected addresses. To create this type of wallet follow the guide here except that instead of entering private keys you enter the addresses you want to watch.
Deterministic Watch-only Wallet
Open the Electrum wallet you want to create a watch-only wallet of and go to wallet menu > information. Copy the Master Public Key (MPK) you find there and save it. You will need this when creating the watch-only wallet so if you’re going to create the watch-only wallet on a different system be sure to transfer the MPK to it using a removable drive like a USB drive.
https://bitcoinelectrum.com/creating-a-watch-only-wallet/
To create a non-deterministic wallet, follow this guide (do not insert your private keys, just the public address)
https://bitcoinelectrum.com/importing-your-private-keys-into-electrum/
Dear Community,
im looking for an armory-like ethereum wallet, specifically a wallet that I can run in a watch-only variant on the online PC,
and in an offline variant with the private keys on a second PC. It must be open source.
Which wallet can you recommend for this?
Armory is the perfect wallet for Bitcoin, unfortunately without support for Ethereum.
Thank you for your advice.
im looking for an armory-like ethereum wallet, specifically a wallet that I can run in a watch-only variant on the online PC,
and in an offline variant with the private keys on a second PC. It must be open source.
Which wallet can you recommend for this?
Armory is the perfect wallet for Bitcoin, unfortunately without support for Ethereum.
Thank you for your advice.
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