Best current cold storage method - page 2.

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Quote from: ranochigo on November 09, 2015, 03:18:58 AM

Quote from: BitcoinBullion on November 09, 2015, 01:54:36 AM

So I got my Trezor all set up now. Is that all I need or are people backing up a Trezor with additional methods?

That's pretty much all you need. As long as you don't lose the seed, you would be able to restore all the keys with it. Keep it somewhere safe.

Note that your PIN protects your bitcoin from theft in case your Trezor is lost or stolen. However, there is no protection if anyone gets your 24 word seed in the proper order unless you also use passphrase encryption. Using a wallet behind a passphrase on a PIN protected Trezor is as secure as it gets. The wallet you use is really of little consequence. The myTrezor web wallet works fine as does latest Electrum.

A privacy issue for some is the fact that Trezor will export your xpub to myTrezor and Electrum servers when you connect to them. If that is a concern you could run your own Electrum server or wait until a wallet that requires a full node like Armory has Trezor support.

spazzdla

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Quote from: Parazyd on November 05, 2015, 08:35:32 PM

Quote from: ranochigo on November 05, 2015, 08:23:22 PM

Quote from: Parazyd on November 05, 2015, 05:10:31 PM

Do you guys BIP38 your paper wallets?

I do. BIP38 is a important feature in paper wallets. It protects against theft of your Bitcoin and is relatively hard to crack if you use a strong one. However, you do have to remember the password. The best practice is to write it down and keep it somewhere safe.

It's not safe to write down your passphrase. Then it's like you don't even have it. I rather make and remember my passphrases as a sentence, and I add a few symbol characters. So with a password of 30+ chars it gets uncrackable in my lifetime. Which is OK Cheesy

I lost .5 BTC not writing it down.....

it's really bad plan to do that.

Write it down in 3 pecies and put them in 3 different spots or something.. not writting it down is a great way to see them gone forever.

ranochigo

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Quote from: BitcoinBullion on November 09, 2015, 01:54:36 AM

So I got my Trezor all set up now. Is that all I need or are people backing up a Trezor with additional methods?

That's pretty much all you need. As long as you don't lose the seed, you would be able to restore all the keys with it. Keep it somewhere safe.

BitcoinBullion

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So I got my Trezor all set up now. Is that all I need or are people backing up a Trezor with additional methods?

Parazyd

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Space Lord

Quote from: ranochigo on November 05, 2015, 09:03:40 PM

Quote from: Parazyd on November 05, 2015, 08:35:32 PM

Quote from: ranochigo on November 05, 2015, 08:23:22 PM

Quote from: Parazyd on November 05, 2015, 05:10:31 PM

Do you guys BIP38 your paper wallets?

I do. BIP38 is a important feature in paper wallets. It protects against theft of your Bitcoin and is relatively hard to crack if you use a strong one. However, you do have to remember the password. The best practice is to write it down and keep it somewhere safe.

It's not safe to write down your passphrase. Then it's like you don't even have it. I rather make and remember my passphrases as a sentence, and I add a few symbol characters. So with a password of 30+ chars it gets uncrackable in my lifetime. Which is OK Cheesy

There are various illness which can cause the loss of memory, you would not be able to remember the passphrase if you do lose your memory. Sad

The attack the paper wallets are most susceptible to is physical theft. The person would have to first get your encrypted private key first before even try to crack it.

Ah, I like to think I'm still young enough not to forget my passphrases Cheesy

And your paper wallet is still not usable to someone who steals it if the key is BIP38-d. So, make a few encrypted backups and you're good to go.

BitcoinBullion

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Ended up signing up for Gemini. Waiting on the bank confirmation but so far I like the dashboard and they allow wires.

ranochigo

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Quote from: Parazyd on November 05, 2015, 08:35:32 PM

Quote from: ranochigo on November 05, 2015, 08:23:22 PM

Quote from: Parazyd on November 05, 2015, 05:10:31 PM

Do you guys BIP38 your paper wallets?

I do. BIP38 is a important feature in paper wallets. It protects against theft of your Bitcoin and is relatively hard to crack if you use a strong one. However, you do have to remember the password. The best practice is to write it down and keep it somewhere safe.

It's not safe to write down your passphrase. Then it's like you don't even have it. I rather make and remember my passphrases as a sentence, and I add a few symbol characters. So with a password of 30+ chars it gets uncrackable in my lifetime. Which is OK Cheesy

There are various illness which can cause the loss of memory, you would not be able to remember the passphrase if you do lose your memory. Sad

The attack the paper wallets are most susceptible to is physical theft. The person would have to first get your encrypted private key first before even try to crack it.

Parazyd

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Space Lord

Quote from: ranochigo on November 05, 2015, 08:23:22 PM

Quote from: Parazyd on November 05, 2015, 05:10:31 PM

Do you guys BIP38 your paper wallets?

I do. BIP38 is a important feature in paper wallets. It protects against theft of your Bitcoin and is relatively hard to crack if you use a strong one. However, you do have to remember the password. The best practice is to write it down and keep it somewhere safe.

It's not safe to write down your passphrase. Then it's like you don't even have it. I rather make and remember my passphrases as a sentence, and I add a few symbol characters. So with a password of 30+ chars it gets uncrackable in my lifetime. Which is OK Cheesy

ranochigo

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Quote from: Parazyd on November 05, 2015, 05:10:31 PM

Do you guys BIP38 your paper wallets?

I do. BIP38 is a important feature in paper wallets. It protects against theft of your Bitcoin and is relatively hard to crack if you use a strong one. However, you do have to remember the password. The best practice is to write it down and keep it somewhere safe.

Parazyd

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Space Lord

Do you guys BIP38 your paper wallets?

OROBTC

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Quote from: spazzdla on November 05, 2015, 01:53:40 PM

Quote from: ?? on ??

Quote from: romjpn on November 04, 2015, 09:31:16 PM

USB sticks are surprisingly resistant.

But they can fail without notice, with no hopes for practical data recovery.

If you are going to backup important stuff on them, I'd recommend at least 3. Huh

One should have over 20 back ups of their wallets.

No questions asked.

Ha ha ha. I thought I was the only one who thought that way.

Actually, I keep only three copies, they should be safe enough.

I DO keep SEVEN copies of our sales database though...

Priorities!

spazzdla

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Quote from: ?? on ??

Quote from: romjpn on November 04, 2015, 09:31:16 PM

USB sticks are surprisingly resistant.

But they can fail without notice, with no hopes for practical data recovery.

If you are going to backup important stuff on them, I'd recommend at least 3. Huh

One should have over 20 back ups of their wallets.

No questions asked.

romjpn

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USB sticks are surprisingly resistant. One cheap one that went into the washing machine in a jeans pocket still work like nothing happened. Shocked

BitcoinBullion

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Quote from: BitcoinNewsMagazine on November 04, 2015, 01:48:16 PM

Quote from: BitcoinBullion on November 04, 2015, 11:26:44 AM

I got a Trevor on the way should be here today or tomorrow.

Now im stuck waiting with no ability to get more BTC since I capped out my $500 and $300 on CB and Circle. Procrastinating cost me a lot of money here.

You made the right choice, you will like the Trezor. Have you looked into getting an account set up at Gemini?

I did not because someone posted ITT saying they are still new and has some security issues.

ShetKid

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Quote from: MbitSport on November 04, 2015, 08:31:20 PM

I was considering buying a keepkey hardware wallet, i havent done much research into hardware wallets, but ready through these posts im gonna have a quick google about "trezor" wallets.

http://www.amazon.co.uk/Keepkey-Your-Private-Bitcoin-Vault/dp/B0143M2A5S/ref=sr_1_4?ie=UTF8&qid=1446687004&sr=8-4&keywords=bitcoin+wallet

Trezor is probably the most known hardware wallet. Wouldn't suggest going with any theird party ones for now. That one seems fairly new, and people posting the reviews did so end of october.

MbitSport

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I was considering buying a keepkey hardware wallet, i havent done much research into hardware wallets, but ready through these posts im gonna have a quick google about "trezor" wallets.

http://www.amazon.co.uk/Keepkey-Your-Private-Bitcoin-Vault/dp/B0143M2A5S/ref=sr_1_4?ie=UTF8&qid=1446687004&sr=8-4&keywords=bitcoin+wallet

ShetKid

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Quote from: georgist on November 04, 2015, 05:38:17 PM

Multisig seems more manageable

Thast is not a cold storage wallet. Its just a way to keep your bitcoins more secure. But also has certain risks. Paper wallet is the best way to go for cold storages.

georgist

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Multisig seems more manageable

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: newcripto on November 04, 2015, 01:52:55 PM

At current the best available options for everyone are paper wallet and core wallet with strong password while your machine must be protected with some well reputed antivirus.I am using these methods successfully so far and it is working flawlessly for me.

I agree on the paper wallet for most of the users, but core wallet is simply too slow to be used for fast sync and transfers imho, and i would always choose electrum over it.
In regards to strong password and good antivirus; don't trust them too much because many new trojans won't even get detected, no matter what AV you use. People just use crypters that hide virus from
definitions/markers that AV uses to recognize them. It's always better to be careful on what you are doing, installing,clicking.. than to just rely on your AV to protect you.

RealBitcoin

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Quote from: Rude Boy on November 04, 2015, 04:39:05 AM

Paper/brain wallet. No other methods. Because every device having the possibility to affect by the virus even that device doesn't ever connected to the internet. http://www.virusresearch.org/computer-virus-using-inaudible-sound-waves-to-transmit-data/

Disable sound card from BIOS.

Take out the network card.

Easy.

Topic: Best current cold storage method - page 2. (Read 6710 times)