[General] Bitcoin Wallets - Which, what, why? - page 5.

Cricktor

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Quote from: AprilioMP on November 08, 2024, 02:06:32 PM

Correct me if I'm wrong — if we use an open source Bitcoin wallet but after getting the address and seed phrase stored in a waterproof and fireproof place or not damaged by water and fire, the wallet is uninstalled from the mobile device, I think that's one way to use it well. Is it right?

When there's no data left on the mobile device that is accessible for other apps AND there's no malware or home phoning software pieces in the mobile OS AND you didn't install some shady keyboard app that shares user's entries for some enhanced user experience or whatever stupid intention the keyboard app developers had AND ...

I don't consider mobile devices safe for more than pocket money amounts. Your mobile smartphone is in the majority of use cases a constantly online device on which people do all sorts of internet, gaming and (a)social media shit. You seriously consider this to be a safe environment for a crypto wallet, even for a short period of time? Shocked

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Quote from: Husna QA on October 18, 2024, 03:56:19 AM

Quote from: AprilioMP on October 07, 2024, 06:26:56 AM

-snip-
A safe wallet to use is an open source wallet and we hold the key.

Open source is not enough to make a wallet secure, but using it can be better than using a closed-source wallet.

Wallet security lies in how users use it. If you still rely on mobile wallets and active internet data access almost all the time, then security will not be safe.

Correct me if I'm wrong — if we use an open source Bitcoin wallet but after getting the address and seed phrase stored in a waterproof and fireproof place or not damaged by water and fire, the wallet is uninstalled from the mobile device, I think that's one way to use it well. Is it right?

Husna QA

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Quote from: AprilioMP on October 07, 2024, 06:26:56 AM

-snip-
A safe wallet to use is an open source wallet and we hold the key.

Open source is not enough to make a wallet secure, but using it can be better than using a closed-source wallet.
Consider looking at the case of libbitcoin. https://milksad.info/disclosure.html

You can see several other related links here: https://bitcointalksearch.org/topic/m.62672463.

Quote from: gmaxwell on August 09, 2023, 04:56:26 PM

You should never have used any closed source wallet-- but being open source is not enough.

By the way, @LibertyMask's post that you quoted was from a month ago, and he didn't even respond to user replies after that.

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Quote from: LibertyMask on September 17, 2024, 02:58:49 PM

I use Binance because it's the global wallet almost today. When you aren't rich, you appreciated little thing like this.

Binance is an exchange not a wallet although on Binance you can have a Bitcoin deposit address with its type.
Binance exchange is famous but at some point they can close, maybe for one or two reasons.

Quote from: LibertyMask on September 17, 2024, 02:58:49 PM

Also it's seems very secure.

Easy but not necessarily safe. We do not have the key if we use an exchange to store assets.
A safe wallet to use is an open source wallet and we hold the key.
Safe ways to use a wallet can be learned again.

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Quote from: LibertyMask on September 17, 2024, 02:58:49 PM

I use Binance because it's the global wallet almost today. When you aren't rich, you appreciated little thing like this.

Also it's seems very secure.

If Binance closes or goes bankrupt, as in previous large exchanges such as Mt. Gox (https://en.wikipedia.org/wiki/Mt._Gox), can you guarantee that the assets you store there can be withdrawn immediately?

FYI, the deposit address provided by the exchange is only temporary, making it easier to trade there. Meanwhile, for long-term storage, I suggest you use a non-custodial wallet, where you have complete control over your wallet's private key/seed.

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I use Binance because it's the global wallet almost today. When you aren't rich, you appreciated little thing like this.

Also it's seems very secure.

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Quote from: iPaD on July 31, 2024, 05:43:19 PM

I really needed this information at the time, THANK YOU!!!

Specific information about what? About wallet?
OP opened this topic for everyone who needs it to benefit and is still actively discussing until my post even though the discussion here is continued by good people who are willing to answer any questions.
So you need to ask what information you need so that anyone can give you what you want, don't be like this.
Not only here, in other topics you also need to explain what you want to know.

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I really needed this information at the time, THANK YOU!!!

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Quote from: Cricktor on June 21, 2024, 04:54:44 PM

Quote from: ?? on ??

~~~

-snip-
I know some bits about Wasabi. I know of the controversially discussed former coordinator used in the past by Wasabi for CoinJoins. But if I remember correctly that has been abandoned because the Wasabi devs fear the wrath of law enforcement agencies due to maintaining infrastructure for coin mixing or what stupid construct those agencies imagine to poke at the devs.

I haven't used Wasabi so far, so I might have missed some bits and pieces.

At the beginning of June, when I updated Wasabi v2.0.7.2, the CoinJoin feature with zkSNACKs as the CoinJoin Coordinator service was no longer there.

However, in the next update (Wasabi v2.0.8), CoinJoin can be used with another coordinator (https://wabisator.com/).

Quote from: ?? on ??

Cricktor

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Quote from: ?? on ??

~~~

Care to elaborate why Wasabi is for you the best wallet? The topic title explicitly ask for why and you don't provide that crucial detail which might help others to make an informed decision.

I know some bits about Wasabi. I know of the controversially discussed former coordinator used in the past by Wasabi for CoinJoins. But if I remember correctly that has been abandoned because the Wasabi devs fear the wrath of law enforcement agencies due to maintaining infrastructure for coin mixing or what stupid construct those agencies imagine to poke at the devs.

I haven't used Wasabi so far, so I might have missed some bits and pieces.

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Quote from: Mystic75 on March 27, 2024, 04:41:23 AM

I Think Binance in tha bwst bitcoin wallet. It's easy to use. Very user friendly. Easy to withdraw and Deposit. Treading option and much more...

Binance is not a wallet, but an exchange. The address obtained from Binance for deposits is only an address without any seed phrase or private key held by the user. Don't misinterpret it.

Quote from: Plan well on May 01, 2024, 12:32:09 PM

hi i am a newbie as u can see,excuse my question but are offline wallets advantageous?
in term of security.

Very beneficial for security. Security protection of storing assets in a strong offline wallet.
For me, cold storage is the safest place to store assets because if it is done in the right way, we will get a good level of security. Storing assets in an offline wallet means that we store assets in a place that is not connected to the internet because internet activity is very vulnerable to the safety of important assets.
It is highly recommended to store assets in an offline wallet.

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Quote from: Plan well on May 01, 2024, 12:32:09 PM

...

I'm quite certain you're speaking of an air-gapped wallet setup, where the offline/air-gapped part keeps the private keys safe and never has contact to online internet. The air-gapped part thus is unreachable for malware or other nasty things.

Such a setup has a watch-only wallet part (the watch-only wallet doesn't have private keys and thus can't loose those to malware) which is online to broadcast signed transactions and of course receive updates on transactions of the wallet's addresses.

Such an air-gapped setup with an offline "cold wallet" that holds and secures the private keys and an associated online watch-only "hot wallet" without private keys (it has only the extended public master key to generate all addresses of the wallet) is very secure.

It's less convenient than a decent hardware wallet but offers very good security if handled properly and keeping the cold part always offline.

You should be able to find more about it with search keywords "air-gapped software wallet".

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hi i am a newbie as u can see,excuse my question but are offline wallets advantageous?
in term of security.

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Quote from: Mystic75 on March 27, 2024, 04:41:23 AM

I Think Binance in tha bwst bitcoin wallet. It's easy to use. Very user friendly. Easy to withdraw and Deposit. Treading option and much more...

I'm not a Binance user, but AFAIK they don't have a dedicated Bitcoin wallet ^{[disregarding their involvement with a certain brand of HW]} so all of your stored assets in their so-called wallet belong to them ^{[they can freeze or confiscate it whenever they want]}!
^{Note: The user-friendly part is a trade-off between security and convenience!}

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I Think Binance in tha bwst bitcoin wallet. It's easy to use. Very user friendly. Easy to withdraw and Deposit. Treading option and much more...

SFR10

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Quote from: Briggsmarineconsult on February 29, 2024, 01:54:01 AM

I need help I lost my phone that is linked to my bitcoin wallet that has 2 way factor key

You might want to mention the name of the wallet or the service in question, but most of them also provide backup codes when you first set up 2FA on your wallet or rather account.
^{- It's worth mentioning that some of these platforms have the option of resetting your 2FA as well!}

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I need help I lost my phone that is linked to my bitcoin wallet that has 2 way factor key

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Quote from: FazilCrypto on February 02, 2024, 06:23:53 AM

Hi all, what about CEX? What do people think?

Considering that these custodial services are in full control of users' private keys, using their services as a personal wallet is the worst thing that you can do to your hard-earned cryptocurrencies!
^{- In addition to the above line, these custodial services are constantly being targeted by skilled hackers, and it's worth noting that almost all of them aren't insuring users' funds.}

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Hi all, what about CEX? What do people think?

thanks!

Husna QA

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Quote from: PomskyFluff on December 23, 2023, 03:26:32 PM

Hi everyone, hope you're all having a great festive break.

I've created a couple of wallets using https://www.bitaddress.org by doing the following steps:

* Saved https://www.bitaddress.org/ as a html file and saved it to a freshly formatted USB stick
* I have a PC with freshly installed version of Windows 10 - the PC has no Internet connection.
* Opened the html file on the non-Internet PC and created the wallets.
* Closed html file and deleted it from the USB stick.
* Wallets saved on the USB stick and removed from PC
* The laptop will never connect to the Internet.

I have switched the PC off now and have no plans to use it. Would you class my paper wallets as being safe to use in this situation?

It may be safe for now.
However, you should also be careful using a USB stick as a wallet storage. Over time, the components of the USB stick may break down, or the data stored on it may be corrupted.

If it's just to protect your wallet, I don't think it's necessary to sacrifice your PC or laptop so that you don't plan to use it. I think that's too paranoid. You can use Linux OS when you are worried about the security of the Windows 10* you are currently using.

Also, when you make a transaction, you need a device that is online/connected to the internet to broadcast the transaction.

*

Quote from: https://ransomware.org/blog/ransomware-targets-windows-vs-linux/

Windows is by far the more popular target, and Linux ransomware is relatively uncommon to date; nonetheless, this doesn’t mean that Linux admins can relax.

Topic: [General] Bitcoin Wallets - Which, what, why? - page 5. (Read 147771 times)