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Topic: Choosing paper wallet - page 2. (Read 1892 times)

hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
August 23, 2015, 08:48:41 AM
#11
-snip-
I'm not a professional cryptologist.

Neither am I.

I can use tools to encrypt and decrypt files but I don't have deep understanding of the underlying mechanisms.

You don't have to study cryptography to encrypt private keys. Just study the basics. https://github.com/bitcoin/bips/blob/master/bip-0038.mediawiki

Because of that should I avoid BIP38 and just be careful where I store the papers?

That's your choice. If you want to use BIP38 encrypted paper wallet, you can use it. Else, don't. Either way, store your paper wallet safe.

But the clients can scan the QR code and handle it seamlessly even with BIP38. What do you guys think?

Most of the clients now have option to sweep from or import BIP38 encrypted private keys. I would gp with it.

If I decide to encrypt it with bip38 then I could store the password elsewhere. Any other drawbacks of BIP38?

I don't think "storing password somewhere else" is a drawback of BIP38. If you are writing down your password, don't write it as a "password". Write something and along with it, write your password. So it is less obvious.

Of course it could be that I misplace or forget (Maybe a disease?) and then the papers would be useless.     

That's not a drawback of BIP38.

-snip-

1. Paper wallets for 3-5 years storage without BIP38

Paper wallets are good-to-go for long-term storage. But physical security is low. I highly recommend you to print/write private keys in a thick paper & make a few copies and try not to store it inside a plastic cover. If you are doing so, then you should take printed/written paper out once every few months and if you are in coastal area, take it out more frequently. For little more security, put one or two papers on both sides of the printed/written paper so that it does not touch plastic. By doing so, you don't need to take it out frequently.

2. Bitcoin android Wallet for android and Mycelium
newbie
Activity: 37
Merit: 0
August 23, 2015, 07:10:08 AM
#10
Wallet selection...

Here's a resource on paper wallets: https://en.bitcoin.it/wiki/Paper_wallet

Here's a resource on mobile (and other) wallets: https://bitcoin.org/en/choose-your-wallet

I can't find any "Wallet Selection..." in the forum.

I have read through that before posting, my latest question was about BIP38. It's still interesting to hear what the veterans use and how to avoid pitfalls, very useful for newbies like me.

Where I am at now:

1. Paper wallets for 3-5 years storage without BIP38
2. Bitcoin android Wallet for android and Mycelium



sr. member
Activity: 434
Merit: 250
Loose lips sink sigs!
August 23, 2015, 12:36:24 AM
#9
Wallet selection...

Here's a resource on paper wallets: https://en.bitcoin.it/wiki/Paper_wallet

Here's a resource on mobile (and other) wallets: https://bitcoin.org/en/choose-your-wallet
newbie
Activity: 37
Merit: 0
August 22, 2015, 07:45:44 PM
#8
Thanks!

I read this at bitcoinpaperwallet.com
Quote
if you do not have a strong understanding of the BIP38 encryption and decryption workflow, do not BIP38-encrypt your paper wallet. Just print your paper wallet out without encryption, and keep it safe the same way you would jewels or cash.

I'm not a professional cryptologist. I can use tools to encrypt and decrypt files but I don't have deep understanding of the underlying mechanisms. Because of that should I avoid BIP38 and just be careful where I store the papers?

But the clients can scan the QR code and handle it seamlessly even with BIP38. What do you guys think?
If I decide to encrypt it with bip38 then I could store the password elsewhere. Any other drawbacks of BIP38?

Of course it could be that I misplace or forget (Maybe a disease?) and then the papers would be useless.     
legendary
Activity: 2590
Merit: 3014
Welt Am Draht
August 22, 2015, 06:39:39 PM
#7

Is Copay like the original Bitcoin wallet for android? And you use Mycelium for hot wallet stored at Mycelium servers?
If so, I guess

Having a dedicated Bitcoin Armory seems overkill for my budget and I don't want to buy a device. I think I get lost in all the choices. What's your strategy? What apps do you use?

Best regards


I have a Windows phone (I am not ashamed) and Copay's the only viable wallet for that. It used to be very beta but has now become massively improved. I also have an android tablet and I use Mycelium with that.

Those two are only used for storing small amounts that I intend to spend.

The rest is all paper wallets made with bitaddress.org for longer term storage. That works fine for me. I don't want to dick around with USB sticks or air gapped computers. Paper can be stored anywhere and backed up endlessly for nothing.

newbie
Activity: 37
Merit: 0
August 22, 2015, 06:33:58 PM
#6
Thank you for all the answers!

My time frame for the cold storage is 3-5 years.

My idea of offline generated paper wallets for cold storage 3-5 years, is there other convenient options?

The original Bitcoin android app can scan the QR code on paper wallets, is that safe? I just want a procedure for how to spend them when the time comes.

Quote
gentlemand: I used Copay and Mycelium for mobile wallets. No complaints from me.
Is Copay like the original Bitcoin wallet for android? And you use Mycelium for hot wallet stored at Mycelium servers?
If so, I guess


Having a dedicated Bitcoin Armory seems overkill for my budget and I don't want to buy a device. I think I get lost in all the choices. What's your strategy? What apps do you use?

Best regards

legendary
Activity: 2590
Merit: 3014
Welt Am Draht
August 22, 2015, 05:32:19 PM
#5

Same logic goes for paper wallets, is it really worth the trouble to store 0.5BTC? That depends on you.


Depends on your time frame. It's really not a hassle to make one at all. It is a little bit of a grind and totally pointless if you intend to spend it one week later.
legendary
Activity: 1078
Merit: 1024
August 22, 2015, 05:30:36 PM
#4
As mentioned above, a hardware wallet can be a convenient alternative.

However, it obviously isn't worth it to buy a 120$ device to store a small amount of Bitcoin.
Same logic goes for paper wallets, is it really worth the trouble to store 0.5BTC? That depends on you.
BG4
legendary
Activity: 1006
Merit: 1024
PaperSafe
August 22, 2015, 05:20:49 PM
#3
I produce and sell  paper wallets printed on premium security paper  .  Most people who purchased them are collectors and look at them as art.  If you are looking for something fancy then take a look at PaperSafe.org . I print the addresses encrypted from bitaddress.org  


BG4
PaperSafe.org
legendary
Activity: 2590
Merit: 3014
Welt Am Draht
August 22, 2015, 05:08:53 PM
#2
I used bitaddress.org and generated the addresses offline. I'm sure there are more secure ways of doing it but those coins haven't moved in a couple of years.

I used Copay and Mycelium for mobile wallets. No complaints from me.

If you really want to go for it there's stuff like this http://cryptographi.com/ and Trezor but they're not necessary if you've done your homework.
newbie
Activity: 37
Merit: 0
August 22, 2015, 04:49:36 PM
#1
Hello!

I am new here as you can guess Smiley. I want a cold storage that has "reasonable good" security.

There are several sites that has javascript paperwallet generators, which of these are safe? Most of them are open source, hosted at GIT.

Is a paper wallet encrypted with Bip38 safe enough to store on off site backups?

My plan is to start a clean Linux and download a generator and generate a few wallets and print them out.

I'm planning to use my phone as a hot storage device for small amounts, what's your strategy? You are the experts.

Best regards

Edit 1:

According to the "Stay Safe thread" - Don't use bitcoins on rooted phones. So I will avoid that.
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