how do I keep my private key safe? - page 3.

mirakal

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Quote from: Ayers on February 23, 2023, 02:31:50 AM

Quote from: Solosanz on February 23, 2023, 12:04:52 AM

...

The best way is using stainless steel plate where it's immunable against fire, corrosion, etc. It will be good if you teach your kids or someone you love about Bitcoin and tell where you leave your seed phrase.

This is also not the best way, with an earthquake like the one in Turkey recently, or a natural disaster that will wash away all your possessions, stainless steel plates will not be able to help you keep the property. Every solution has its pros and cons, no solution is absolutely safe, and everything has its risks. We need to be flexible on a case-by-case basis to use the most appropriate method. And the method of sharing with relatives is also the method that I am applying today.

Yes, I agree. There is exactly no possible solution about where or what is the safest way to secure our private keys as every way has its own pros and cons. But currently, I'm just storing it in a booklet where only me do knows where to find it and if ever someone can find their way to see it, they won't understand as I have created a way to hide it in plain sight. All you can see is a gibberish words scattered through pages that only me knows. And the other one (copy) is located in an isolated flash drive.

mendace

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Quote from: Smack That Ace on February 23, 2023, 09:37:52 AM

[
I currently store my seed phrases in 2 USBs and 3 written copies. I also share with my wife and children, but I am always insecure because incidents like natural disasters and fires can still make them disappear. I really like your idea, it's pretty cool, we can split them up and store them in different online services. This way, we can both be safe from attacks and easily accessible when needed.
I also thought of the option, we can swap the positions of the words in the original phrase, that also ensures in case if hackers get it, they won't be able to access our wallet.

I believe that the two USB keys are only safe enough if they are stored in two different locations, hundreds of kilometers apart. This is because if they are in close proximity and something happens, they could both be destroyed or lost. On the other hand, storing data separately in the cloud provides enough sense of security, as compromising multiple services would be necessary and the exact sequence would also need to be known. To further increase security, a seed word can be added as an additional layer of protection, which you will need to memorize (choosing the position number) and then delete it from the list.

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Quote from: mendace on February 22, 2023, 01:17:41 PM

Quote from: leonair on February 22, 2023, 12:41:12 PM

Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

keeping your private key on Gmail, drive or dropbox is not a good idea. Because all these depend on email Anyone who has access to emails can access them because there are thousands of stories of email hacks. So you can write down your private key in a diary and hide it or you can store it in a pen drive and hide that pen drive. Since memorizing a private key is almost impossible for a human being, storing your private key that way is the only way.

Actually, it's not a good idea to store it in a diary or a thumb drive because there are several problems. For instance, consider the earthquake in Turkey that destroyed everything. How would you find the pen drive among the rubble? Or what if a fire destroyed the diary? Instead, a solution to store it in the cloud could be to encode it into a trivial story where only you know the key, or to split it up and store it across multiple cloud services. This way, you could retrieve it at any time.

In all cases, there is a risk. If you keep it online, you are afraid of being hacked, and if you keep it offline, you are afraid of theft or vandalism. So which approach do you take? Want to keep both online and offline? Then the risk will increase in this case. You are by no means completely safe

Quote from: Smack That Ace on February 23, 2023, 09:37:52 AM

Quote from: mendace on February 22, 2023, 01:17:41 PM

Quote from: leonair on February 22, 2023, 12:41:12 PM

Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

keeping your private key on Gmail, drive or dropbox is not a good idea. Because all these depend on email Anyone who has access to emails can access them because there are thousands of stories of email hacks. So you can write down your private key in a diary and hide it or you can store it in a pen drive and hide that pen drive. Since memorizing a private key is almost impossible for a human being, storing your private key that way is the only way.

Actually, it's not a good idea to store it in a diary or a thumb drive because there are several problems. For instance, consider the earthquake in Turkey that destroyed everything. How would you find the pen drive among the rubble? Or what if a fire destroyed the diary? Instead, a solution to store it in the cloud could be to encode it into a trivial story where only you know the key, or to split it up and store it across multiple cloud services. This way, you could retrieve it at any time.

I currently store my seed phrases in 2 USBs and 3 written copies. I also share with my wife and children, but I am always insecure because incidents like natural disasters and fires can still make them disappear. I really like your idea, it's pretty cool, we can split them up and store them in different online services. This way, we can both be safe from attacks and easily accessible when needed.
I also thought of the option, we can swap the positions of the words in the original phrase, that also ensures in case if hackers get it, they won't be able to access our wallet.

your strategy is not too bad you can carry on. Hope your wife and son keep your seed phrases safe and you keep your 2 USBs carefully so they don't get lost.

m2017

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Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

This is the nuance with cryptocurrencies, that without private keys you cease to be the owner of crypto, therefore, in order not to forget or lose them, you should make backups. Of course, in a safe place, and not in the gmail. You correctly noted that mail can be hacked, like any online service, and employees of these same online services can also get access. Therefore, private keys can only be stored offline. Check out this thread - https://bitcointalksearch.org/topic/securing-your-seed-phrase-with-washers-5389446. You can get a lot of ideas about key storage here.

RockBell

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Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

There is no way to get your private key back once it has been lost, and saving it online is one of the worst decisions you can make. People have had their assets stolen simply because they were hacked, so keeping it offline is best. If you can, store it at the bank, this will help. What I'm trying to say is that you should do everything in your power to keep your private key offline and secure.

Smack That Ace

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Quote from: mendace on February 22, 2023, 01:17:41 PM

Quote from: leonair on February 22, 2023, 12:41:12 PM

Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

keeping your private key on Gmail, drive or dropbox is not a good idea. Because all these depend on email Anyone who has access to emails can access them because there are thousands of stories of email hacks. So you can write down your private key in a diary and hide it or you can store it in a pen drive and hide that pen drive. Since memorizing a private key is almost impossible for a human being, storing your private key that way is the only way.

Actually, it's not a good idea to store it in a diary or a thumb drive because there are several problems. For instance, consider the earthquake in Turkey that destroyed everything. How would you find the pen drive among the rubble? Or what if a fire destroyed the diary? Instead, a solution to store it in the cloud could be to encode it into a trivial story where only you know the key, or to split it up and store it across multiple cloud services. This way, you could retrieve it at any time.

I currently store my seed phrases in 2 USBs and 3 written copies. I also share with my wife and children, but I am always insecure because incidents like natural disasters and fires can still make them disappear. I really like your idea, it's pretty cool, we can split them up and store them in different online services. This way, we can both be safe from attacks and easily accessible when needed.
I also thought of the option, we can swap the positions of the words in the original phrase, that also ensures in case if hackers get it, they won't be able to access our wallet.

sulendra12

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Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

It's always a bad idea to store your credentials in cloud especially in cloud services such as Google Drive, Dropbox etc. There are numerous reports suddenly the user get hacked and the data is stolen either from the user's fault or any third parties out there. Would recommend to print your private key and buy safe box, it's just $30+ and you can put anything there easy and secure and also put it in secure place as well.

kryptqnick

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I don't think Gmail is safe because email addresses to often get hacked and because a letter can disappear, get deleted or lost in the flow of others. I use encrypted messenger apps for that, but I know that it's not considered a safe option. It's just that I also realize that if I write it down somewhere, I'll probably forget where I put that piece of paper, I might accidentally leave it unattended while moving from one place to another, and I might not find it in my own flat. Memorizing is certainly not for me, as I'm very likely to forget the passphrase at some point. I consider the risk of such situations to be higher than someone getting access to my private messages in an app and finding the correct message there to hack me. Everyone should do their own thing and realize the risks of each solution. I'm thinking of moving offline with the seed phrase, but I haven't figured out a way that will work for me and minimize the risk of locking myself out due to forgetting where I put it.

Outhue

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Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

Gmail accounts are easier to hack than writing down your wallet keys somewhere offline, for the fact that Gmail works online 24/7, makes it a very bad place to keep important private keys and recovery seeds, if you are still thinking of doing such, erase the idea off your mind, if you can't afford to buy a hardware wallet then download Electrum wallet and write down your recovery phrase in a book, scared that books might get burnt or damage? Carve the words on steel, like stainless steel.

Plaguedeath

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Quote from: Venik on February 23, 2023, 03:30:05 AM

I think two ways to keep your private key and/or seed phrase - to write it on paper and keep it somewhere safe, and to keep a screenshot somewhere deep in your PC and not upload it anywhere, that way you'll keep it in 2 places and if one will be lost you'll be able to recover it.

Even you didn't upload it anywhere there's a chance your PC would be compromised if you use it as your daily driver. Too much security risk from internet connection, connect using USB stick or other device, clicking random links and have very low security etc. If you want to protect the folder or the file with password, the hacker can have a way to crack it. But you must make sure your PC never get touched by any person including the maintenance worker, because they might copied all of your files.

BountySujon

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There is no such place where keeping your wallet private key will be completely safe and secure. Because, where you are afraid of Gmail being hacked after putting your private keys in Gmail. Just like that if I say that keep the private keys of your wallet in a secret place on the mobile. Then you must think that if the mobile is lost?
Then your private key ones will be lost. These words are true in real life as well.
If I tell you that you should write down your private keys in real life somewhere safe.
And if you think that later you forget about the place?Even then you lost your private key ones from there too.
So by no means get that much protection where you can be sure.
If you want to keep private key in place, keep the place safe.
You must save your mobile to prevent your mobile from being lost.
If you write somewhere in real life, you must remember that place.

Venik

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I think two ways to keep your private key and/or seed phrase - to write it on paper and keep it somewhere safe, and to keep a screenshot somewhere deep in your PC and not upload it anywhere, that way you'll keep it in 2 places and if one will be lost you'll be able to recover it.

hd49728

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Quote from: Ayers on February 23, 2023, 02:31:50 AM

This is also not the best way, with an earthquake like the one in Turkey recently, or a natural disaster that will wash away all your possessions, stainless steel plates will not be able to help you keep the property. Every solution has its pros and cons, no solution is absolutely safe, and everything has its risks. We need to be flexible on a case-by-case basis to use the most appropriate method. And the method of sharing with relatives is also the method that I am applying today.

Storing all in all begs, all backups at one place, use only one format are very bad.

The extreme earthquake in Turkey, Beirut port explosion in Syria are good examples that if you have Bitcoin, you should diversifying how you store your bitcoin and your wallet backups.

Applying the same for your exchange account passwords, 2FA backups.

2020 Beirut explosion

Ayers

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Quote from: Solosanz on February 23, 2023, 12:04:52 AM

...

The best way is using stainless steel plate where it's immunable against fire, corrosion, etc. It will be good if you teach your kids or someone you love about Bitcoin and tell where you leave your seed phrase.

This is also not the best way, with an earthquake like the one in Turkey recently, or a natural disaster that will wash away all your possessions, stainless steel plates will not be able to help you keep the property. Every solution has its pros and cons, no solution is absolutely safe, and everything has its risks. We need to be flexible on a case-by-case basis to use the most appropriate method. And the method of sharing with relatives is also the method that I am applying today.

hosseinimr93

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Quote from: HajiBagi on February 23, 2023, 01:17:10 AM

I think Gmail is also safe for keeping your secret needs for a future because I have seen many people who have been in that method and up to date nothing has happened to their Gmail or anyone got their secret stuff even when they sold their phones, that makes me feel that Gmail is also safe to keeps your secret stuffs.

You should never trust centralized services with your sensitive data.
Just because you haven't ever heard of anyone having security issue with gmail doesn't mean you can keep your sensitive data on gmail safely. As I already said, any centralized service is prone to hacking.

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Quote from: hosseinimr93 on February 22, 2023, 07:14:24 AM

As already mentioned by OmegaStarScream, it's a very bad idea to keep your private keys online. Any centralized service and any online device is prone to hacking.
You should keep your private keys offline, on a piece of paper or even better on a metal sheet.

You speak well, mate, every online device has to be hacked, but you see a sheet of paper will never be hacked because he is not a device or any other online stuff and that can only be a secret by yourself, another way, I think Gmail is also safe for keeping your secret needs for a future because I have seen many people who have been in that method and up to date nothing has happened to their Gmail or anyone got their secret stuff even when they sold their phones, that makes me feel that Gmail is also safe to keeps your secret stuffs.

Solosanz

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Quote from: mindrust on February 22, 2023, 11:08:08 PM

There isn't one solution that's safe for every situation. It is not possible.

Let's say you memorized your seed words... your brain can always go dumb and then boom you are poor.
Let's say you wrote them on a piece of paper. That piece of paper might get burned, might get lost... Your dog could eat it.

It's not only become dumb, when you get older, there's no guarantee your brain is always good as before since brain injury could happen to every people, just like this thread Bitcoiners with Alzheimer's. How do you work it out?.

I don't think dog will eat your paper lol, but most likely bugs e.g. booklice, termites etc will eat it. There's also a chance you the ink will be blurry or your writing isn't really clear, it might make you mistakenly missing for few words.

The best way is using stainless steel plate where it's immunable against fire, corrosion, etc. It will be good if you teach your kids or someone you love about Bitcoin and tell where you leave your seed phrase.

jeraldskie11

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Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

If you forget your private key, there is no way to get your wallet back. The only thing you need to open your wallet and keep it secure is your private key. Although many people use Gmail to maintain their accounts, we really don't advise it for cryptocurrency because anyone may still access your account if they want. If you hold tokens, I advise using MyEtherWallet; however, if you hold bitcoin, I advise Electrum because I haven't had any problems losing money with it.

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Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

If you love your hard earned money, then it’s better to avoid storing it online. It doesn’t matter whether you save it in a chat or gmail. The risk of getting it leaked or hacked will increase if you store it online. The best way to store the private keys is to write it down in a piece of paper, and lock it down safely where you can get access to it. And if you forget or misplace it somewhere, then my friend, there is no way of recovering back the wallet. So it’s better to occasionally check it, where you stored your private key.

mindrust

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Quote from: Clark Anderson on February 22, 2023, 07:02:32 AM

I have wondered for long, if there is anyway to recover my private keys when they get lost or when I don't remember them. Someone advised me to use Gmail and store them as mails then I taught again, what if my Gmail gets hacked. Is this actually the best way to store them or is there any other ways I can store or Keep them safe?

Depends.

There isn't one solution that's safe for every situation. It is not possible.

Let's say you memorized your seed words... your brain can always go dumb and then boom you are poor.
Let's say you wrote them on a piece of paper. That piece of paper might get burned, might get lost... Your dog could eat it.
Let's say you kept it inside an USB stick. That stick might get broken.
What if you keep it in your PC? Could get hacked.
What if you keep it in a bank safe? lol (don't do this)
...

What if I do all of these?

Then you will have lots of targets which could be attacked.

In my own experience, you should do 2 of these. (except for the bank safe thing) One of them should be your main preparation and the other one should be a backup.

Topic: how do I keep my private key safe? - page 3. (Read 713 times)