Thanks, splitting the words into parts might be the best idea. I know about Bitcoin Paper Wallet but I think it is complex to use for non-technical people. Also you have to trust the printer :-)
I'll check it out again, though - are they using HD wallets now, too?
Topic: Encryption and Wallet Backup (Read 989 times)
You can split the 12 words into 4 parts and send each part using different delivery methods.
The twelve words are translated to the bitcoin addresses in a wallet. So in a form that is indeed the un-encrypted wallet and should be encrypted during transmission.
It's not recommended to transmit these words over the internet for obvious reasons, especially since this will not only expose the initially funded addresses but all addresses that can ever be created for this wallet. It's way worse then leaking just the private key for one address.
Something like Bitcoin paper wallet might be better, although that won't work with Electrum.
It's not recommended to transmit these words over the internet for obvious reasons, especially since this will not only expose the initially funded addresses but all addresses that can ever be created for this wallet. It's way worse then leaking just the private key for one address.
Something like Bitcoin paper wallet might be better, although that won't work with Electrum.
Hi,
I'm writing a guide on how to give Bitcoin as a gift and I intend to recommend Electrum because of the 12 word wallet backup. I think generating a wallet for the person who will receive the gift and sending that person the 12 word sequence on paper is the best way at the moment (assuming a non-technological recipient who has no previous experience with Bitcoins). Opinions on that are welcome, too.
My real question, though: I just realized that the encryption Electrum offers is probably only for the wallet on the disk? The 12 word sequence (seed) is actually the unencrypted wallet?
Just wanted to make sure my assumption is correct?
It would be a small issue for my gifting use case because sending the seed to the recipient could be intercepted. I would prefer to send an encrypted seed and password via different channels. Encrypting the seed with external tools would make it too complicated in my opinion. I think I will still recommend using the 12 word sequence for gifting, with a word of caution :-/
Björn
I'm writing a guide on how to give Bitcoin as a gift and I intend to recommend Electrum because of the 12 word wallet backup. I think generating a wallet for the person who will receive the gift and sending that person the 12 word sequence on paper is the best way at the moment (assuming a non-technological recipient who has no previous experience with Bitcoins). Opinions on that are welcome, too.
My real question, though: I just realized that the encryption Electrum offers is probably only for the wallet on the disk? The 12 word sequence (seed) is actually the unencrypted wallet?
Just wanted to make sure my assumption is correct?
It would be a small issue for my gifting use case because sending the seed to the recipient could be intercepted. I would prefer to send an encrypted seed and password via different channels. Encrypting the seed with external tools would make it too complicated in my opinion. I think I will still recommend using the 12 word sequence for gifting, with a word of caution :-/
Björn
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