Thank you all for the answers.
How about that:
I use the program I have implemented on an offline computer. I produce a key pair. Then I produce a seed phrase that produces the private key for the public address and finally, I save the seed phrase in offline USB sticks?
How does it sound?
Topic: Hardware wallets vs paper wallets - page 3. (Read 467 times)
Tbh you don’t even need to make it that complicated. (Writing down your priv keys)
Writing down your seed words is even more practical. You may even memorize them. It will come in handy in case you lose your paper wallet somehow. (Gets damaged etc)
Writing down your seed words is even more practical. You may even memorize them. It will come in handy in case you lose your paper wallet somehow. (Gets damaged etc)
Short term perhaps. but never ever rely on your memory for the seed. It's been discussed many times.
Paper wallets with a written down key were considered insecure since a while ago because of things like the ink being damaged/fading and it being transcribed wrong when trying to spend. If you're a software engineer is there a reason you can't take the bip39 wordlist and a private key and get a tool so that one can generate the other? I think it'd then be safe as each word could act as a sort of checksum (there's other - longer - wordlists available too based on best practices for passwords).
A lot of the security and usability of a hardware wallet comes down to how you're printing it and how you're storing it (things you might think would preserve it - such as laminating it - can actually do more harm than good).
What harm can lamination cause? Can you describe in more detail?A lot of the security and usability of a hardware wallet comes down to how you're printing it and how you're storing it (things you might think would preserve it - such as laminating it - can actually do more harm than good).
I believe that the purpose of hardware wallet and paper wallet is fundamentally different and therefore, it should not be compared. HW device is better for everyday use and allows to securely send / receive btc, while paper wallet is for long-term storage and the less often you open it, the better. Entering the private key from paper wallet every time to send a transaction is a dubious exercise.
Because the quality of lamination varies a lot along with the quality of paper. You could be sealing in some crap, or find out 10 years later that the lamination has turned yellow / brown and you can't read the words though it and can't un-laminate it without risking damaging the wallet.
A good 'indestructible' paper is probably better to print on: https://bitcointalksearch.org/topic/--5296179
As with everything YMMV some people like the seedplates others like other methods.
-Dave
Paper wallets with a written down key were considered insecure since a while ago because of things like the ink being damaged/fading and it being transcribed wrong when trying to spend. If you're a software engineer is there a reason you can't take the bip39 wordlist and a private key and get a tool so that one can generate the other? I think it'd then be safe as each word could act as a sort of checksum (there's other - longer - wordlists available too based on best practices for passwords).
A lot of the security and usability of a hardware wallet comes down to how you're printing it and how you're storing it (things you might think would preserve it - such as laminating it - can actually do more harm than good).
What harm can lamination cause? Can you describe in more detail?A lot of the security and usability of a hardware wallet comes down to how you're printing it and how you're storing it (things you might think would preserve it - such as laminating it - can actually do more harm than good).
I believe that the purpose of hardware wallet and paper wallet is fundamentally different and therefore, it should not be compared. HW device is better for everyday use and allows to securely send / receive btc, while paper wallet is for long-term storage and the less often you open it, the better. Entering the private key from paper wallet every time to send a transaction is a dubious exercise.
Tbh you don’t even need to make it that complicated. (Writing down your priv keys)
Writing down your seed words is even more practical. You may even memorize them. It will come in handy in case you lose your paper wallet somehow. (Gets damaged etc)
Writing down your seed words is even more practical. You may even memorize them. It will come in handy in case you lose your paper wallet somehow. (Gets damaged etc)
Paper wallets with a written down key were considered insecure since a while ago because of things like the ink being damaged/fading and it being transcribed wrong when trying to spend. If you're a software engineer is there a reason you can't take the bip39 wordlist and a private key and get a tool so that one can generate the other? I think it'd then be safe as each word could act as a sort of checksum (there's other - longer - wordlists available too based on best practices for passwords).
A lot of the security and usability of a hardware wallet comes down to how you're printing it and how you're storing it (things you might think would preserve it - such as laminating it - can actually do more harm than good).
A lot of the security and usability of a hardware wallet comes down to how you're printing it and how you're storing it (things you might think would preserve it - such as laminating it - can actually do more harm than good).
Paper wallets are perfectly safe, if you make it yourself. If you use a third party like bitadress.com then yes, you might get hacked.
In the end a paper wallet is just a paper with your private keys written on. You can create your own on an offline PC and it will be safer than anything else.
In the end a paper wallet is just a paper with your private keys written on. You can create your own on an offline PC and it will be safer than anything else.
Yes, thank you, that's why I implemented it myself. Otherwise, I would consider it the exact same thing as a hardware wallet. In fact a hardware wallet would win this comparison thanks to it's convenience and feature-rich application.
On the other hand, when you set up a digital device, even though the keys don't "touch" the internet, don't you actually trust the manufacturer and the code that they provide? And, simultaneously, you must maintain a piece of paper (or metal plate) where the seed phrase is written, so, technically it's the same thing.
-snip-
-snip-
Not necessarily, because some hardware wallets are fully open source[1].
Paper wallets are pretty safe until you decide to spend your funds. If you're someone who spends regularly, it's probably not the best option because each time you're scanning that private key QR code, you're taking a risk of exposing it.
[1] https://bitcointalksearch.org/topic/list-open-source-hardware-wallets-5288971
Thanks for the answer. I only use open source wallets, but I have the ability to do so because I am a software engineer. Well the only thing I want to do is to create a wallet for my children (not yet born haha). I plan to send BTC every month and never withdraw. Essentially that's what I do for myself too, using a hardware wallet. But I thought, why not trying paper wallets for my kids? it still seems safer to me.
Paper wallets are perfectly safe, if you make it yourself. If you use a third party like bitadress.com then yes, you might get hacked.
In the end a paper wallet is just a paper with your private keys written on. You can create your own on an offline PC and it will be safer than anything else.
In the end a paper wallet is just a paper with your private keys written on. You can create your own on an offline PC and it will be safer than anything else.
-snip-
On the other hand, when you set up a digital device, even though the keys don't "touch" the internet, don't you actually trust the manufacturer and the code that they provide?
-snip-
On the other hand, when you set up a digital device, even though the keys don't "touch" the internet, don't you actually trust the manufacturer and the code that they provide?
-snip-
Not necessarily, some hardware wallets are fully open-source [1].
Paper wallets are pretty safe until you decide to spend your funds. If you're someone who spends regularly, it's probably not the best option because each time you're scanning that private key QR code to send a transaction, you're taking a risk of exposing it.
[1] https://bitcointalksearch.org/topic/list-open-source-hardware-wallets-5288971
Hello everyone.
I have some experience with various hardware wallets and I admit that I am more than happy with the ones I have tried, especially with the coldcard.
However, even though I have watched multiple videos concerning paper wallets and why people shouldn't trust them nowadays, I feel like they are safer alternatives and I want to discuss it here.
So, how can a hardware wallet be a better option than a paper wallet?
I know, that a simple piece of paper can be damaged or lost, but, apart from that, how can it be hacked ?
It seems too safe to me and I reckon that the only thing I need to do is to protect this small piece of paper from thieves or from physical damage.
I have implemented a key-pair generator myself and I run it on a computer that has never touched the internet. Thus, I get a private and a public key and then I print it on a piece of paper.
Alternatively, I could save the keys on 2-3 usb sticks and then protect the usb sticks, in order to avoid every point of paper failure (i.e ink stains, water etc). Isn't that extremely safe ? Am I missing something here ?
On the other hand, when you set up a digital device, even though the keys don't "touch" the internet, don't you actually trust the manufacturer and the code that they provide? And, simultaneously, you must maintain a piece of paper (or metal plate) where the seed phrase is written, so, technically it's the same thing.
thanks
I have some experience with various hardware wallets and I admit that I am more than happy with the ones I have tried, especially with the coldcard.
However, even though I have watched multiple videos concerning paper wallets and why people shouldn't trust them nowadays, I feel like they are safer alternatives and I want to discuss it here.
So, how can a hardware wallet be a better option than a paper wallet?
I know, that a simple piece of paper can be damaged or lost, but, apart from that, how can it be hacked ?
It seems too safe to me and I reckon that the only thing I need to do is to protect this small piece of paper from thieves or from physical damage.
I have implemented a key-pair generator myself and I run it on a computer that has never touched the internet. Thus, I get a private and a public key and then I print it on a piece of paper.
Alternatively, I could save the keys on 2-3 usb sticks and then protect the usb sticks, in order to avoid every point of paper failure (i.e ink stains, water etc). Isn't that extremely safe ? Am I missing something here ?
On the other hand, when you set up a digital device, even though the keys don't "touch" the internet, don't you actually trust the manufacturer and the code that they provide? And, simultaneously, you must maintain a piece of paper (or metal plate) where the seed phrase is written, so, technically it's the same thing.
thanks
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