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LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: MicroScript on April 14, 2024, 10:55:03 AM

I want to make sure my wallet and funds are as safe as possible.

That means: cold storage, and backups. A hot wallet should only be used for amounts needed for daily use, and amounts you can afford to lose. Anything else should be in cold storage. Setting up proper cold storage is a bit of work, but it's the only way to be sure online attacks are not possible.
Depending on your needs there are many different ways to create cold storage.

Z-tight

hero member

Activity: 994

Merit: 1089

Quote from: ?? on ??

I am interested to understand how Bitcoin Core tackles security threats. Could you share some insights into the security measures built into Bitcoin Core to protect users' funds and data?

No wallet 'tackles' security threats for you, it is recommended to use open source, self custodial and well reviewed wallets, but your funds is only as safe as the device you use, your opsec and your knowledge. Bitcoin core is recommended, but if you use it, just like any other wallet, in an unsafe environment, you may lose your funds.

If you want to use Bitcoin core only because you think it will protect your funds for you, then i feel you should go for open source light client wallets like Electrum or BlueWallet, and focus on your opsec as well as running your wallet offline.

BitMaxz

legendary

Activity: 3374

Merit: 3095

Playbet.io - Crypto Casino and Sportsbook

Do you have any reason why you chose to use a Bitcoin core wallet rather than a lite wallet like Electrum?
Because Bitcoin core wallet needs lots of resources unless you need a full node for development or something?

For the best solution securing your Bitcoin core wallet only install and create your wallet into cold storage never connect it to online to avoid malware and hacking.
You just need to learn how to do offline transactions you can use Electrum as your watch-only wallet and where you can make unsigned transactions and sign them in your offline Bitcoin core wallet.

promise444c5

sr. member

Activity: 476

Merit: 299

Learning never stops!

Firstly, you need to understand that Bitcoin core uses AES ( Advanced Encryption Standard) to encrypt its wallet, the encryption is considered a very secure one.
That feels like the major implementation
Apart from that, once you run a bitcoin Core you have the same advantage with running a full node along with your wallet
Check
https://bitcoin.org/en/bitcoin-core/features/validation

promise444c5

sr. member

Activity: 476

Merit: 299

Learning never stops!

Encrypt your wallet.dat and then back it up to a safe place like an external drive, use a very strong combination for your passphrase while encrypting.
To prevent your external drive from getting corrupt do not use it on any random device
Write down your passphrase in a cold form mostly paper but because of some hazardous events that may occur like fire you could craft it on an aluminium sheet keep it somewhere safe.
Next time you try to import your wallet you will be needing the passphrase to make it possible

MicroScript

jr. member

Activity: 71

Merit: 4

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