How to 100% Secure Bitcoin from Thieves / Hackers / Government???

buwaytress

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Quote from: crzy on September 29, 2019, 08:16:48 AM

Hard wallet is the best, especially the new ledger where you don’t need to connect your ledger manually. Hackers will have a hard time to hack you, not unless you mistakenly save the details of your wallet on a not safe place. Ledger wallet is the best hard wallet for me, they work smoothly.

There are a number of new hardware wallets all trying to prevent this: online connection. It doesn't get very much secure than that but if you don't practise basic security then you could be vulnerable at other points without even getting to the stage of external hackers. For example, is your device itself compromised from within?

Do you store the keys securely and independently from the wallet? Won't help if you still keep the private key in an email somewhere!

crzy

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Hard wallet is the best, especially the new ledger where you don’t need to connect your ledger manually. Hackers will have a hard time to hack you, not unless you mistakenly save the details of your wallet on a not safe place. Ledger wallet is the best hard wallet for me, they work smoothly.

Leyss

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It seems to me that whatever we do in cryptocurrency, and one hundred percent we won’t be able to secure ourselves from thieves and hackers. This will be an almost eternal confrontation and an eternal problem for cryptocurrency users. The measures taken, of course, can greatly increase our chances, however, confidence can only be when we put our cryptocurrency in cold storage and do not connect to the Internet.
Now there is information that soon it will be possible to conduct transactions offline, however, this will still require improvements and will create other difficulties and problems for us.

Dread Pirate Roberts

sr. member

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I haven't tried real crypto wallet like ledger nano but i have seen my friend using trezor is that the same thing? I am still using the application wallet on mobile and secure devices that I have never used for browsing. so I think saving on a secure device and never being used to browse something weird or suspicious I think our wallet can be safe.

Nnuego

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Quote from: AGD on August 28, 2019, 03:21:31 PM

100% is not possible as long as computers are involved.

Also if bad people know about you having a lot of Bitcoins, they could use traditional methods, like torturing etc.

The safest way then is never to tell anybody about the amount of bitcoin you have. Never disclose to anyone you're investing in bitcoin cos everyone is a suspect. Nobody to trust in terms of money issues. It's better to play safe and wise and in your dealings

kecha1

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Make no mistake. Do not share your personal information with strangers. Do not make suspicious transactions.

Duzter

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I don't have much of funds, upon the same I never consider the security to be a big threat. Most of my funds were in exchanges, gambling websites and online exchanges. Maybe this seems completely insecure, but this is far better to stay away from governments. Also I never reveal to an outsider that I'm cryptocurrency user which might create some threat for me from thieves.

barbara44

hero member

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I think that you are still good with your forms of securing your account, but that number 2 is what I personally would not do, because it is not everyone that can be as careful as you, and storing your words in multiple places will surely expose you to the risk of being hacked easily because no matter what, those keys will be there for the next 10 years, and within that space of time, you would have done so many things that may even make you forget one or two places where you have kept the words.

My best bet for anything wallet, is just for you to write it out and then store it in your back, then you probably create just an email that you will never share with anyone or any site for people to know it exist, then you keep the words in there, I think two places is much more than enough.

BitValve

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Quote from: Aiwei052289 on August 29, 2019, 10:37:11 AM

I only use windows defender anti-virus for my windows PC. Do i need to install a better anti-virus to
prevent my PC from a hacker? btw I also use ledger nano to hodl my coins.

Ledger Nano and/or Trezor is a good choice ( please read the replies above). Windows are not very "keen" to protect you from "hackers" and/or viruses and i think that Windows Defender is not a good choice for AV. Why dont you download some of the Free Antiviruses available like AVG/Avast etc ?

BitValve

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Quote from: Lutpin on August 29, 2019, 09:23:39 AM

Quote from: BitValve on August 29, 2019, 09:02:00 AM

The seed is actually the 12-24 word seed that you can only use within the hardware device (trezor etc..) in order for the device to recover your funds. Im not sure that you can use these words to recover wallet somewhere else, most probably not. After recovering funds you can then move those funds to any wallet provider software or hardware.

Technically the 24 words are a mnemonic phrase, from which the seed is created, which then in turn is used to derive a HD wallet from.
Ledger, Trezor and other hardware wallets did not invent the technology that is used to do that, they apply several BIPs in their devices for that.
To list them, there would be:
BIP39 - The wordlists used for mnemonic phrases and how to derive seeds from them.
BIP32 - The method to build HD wallets from a seed.
BIP44 - Extending BIP32 via defined derivation paths.

As you can see, the full path from mnemonic phrase up to the private key/public key pair is done using open source technologies, meaning any other software and hardware wallet can implement the exactly same method.
Such has been done ample times and there is a long list of alternative ways to get to your keys and thus funds in case you lose your device / it becomes unusable.

A few more points of information:

Both the Ledger and the Trezor do use proprietary software, but not in the process of generating keypairs.
slush and stick are co-authors of BIP39 & BIP44, and the founders of SatoshiLabs, the company selling Trezors. So while they created some of the software used, they have made it available to everyone.

Okay thats interesting info, that i did not have right in my head. Thanks for for clarifying it, Lutpin.

audaciousbeing

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Quote from: Aiwei052289 on August 29, 2019, 10:37:11 AM

I only use windows defender anti-virus for my windows PC. Do i need to install a better anti-virus to
prevent my PC from a hacker? btw I also use ledger nano to hodl my coins.

Windows defender to a large extent has been a life saver and I believe its sufficient enough to keep your system safe except its a targeted attack. Also, you might want to install another one if you feel that would give you peace of mind but be careful on the exact one you patronising so you don't bring in issue for yourself in a willingly manner.

Aside from the suggestions on the right way to keep funds safe, I think another way is to do right especially on the part of government. File your returns if needed, pay your tax as at when due and government would be the least of your headaches.

killat

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Holding your funds in a hardware wallet seems to be the best option for now.

Not sure if it's 100% safe, but I did not hear till now that a hardware wallet to be hacked. However, you should be very careful on how you keep your seed words.

Aiwei052289

newbie

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I only use windows defender anti-virus for my windows PC. Do i need to install a better anti-virus to
prevent my PC from a hacker? btw I also use ledger nano to hodl my coins.

jake zyrus

full member

Activity: 798

Merit: 121

I believe you can't secure your bitcoin 100% from them. It is always prone to thieves and hackers as long as it has a value. As long as you monitor and keep them secure, even not with a hundred percent, then you can avoid and lessen the possibility of getting it stolen.

Lutpin

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Goodbye, Z.

Quote from: BitValve on August 29, 2019, 09:02:00 AM

The seed is actually the 12-24 word seed that you can only use within the hardware device (trezor etc..) in order for the device to recover your funds. Im not sure that you can use these words to recover wallet somewhere else, most probably not. After recovering funds you can then move those funds to any wallet provider software or hardware.

Technically the 24 words are a mnemonic phrase, from which the seed is created, which then in turn is used to derive a HD wallet from.
Ledger, Trezor and other hardware wallets did not invent the technology that is used to do that, they apply several BIPs in their devices for that.
To list them, there would be:
BIP39 - The wordlists used for mnemonic phrases and how to derive seeds from them.
BIP32 - The method to build HD wallets from a seed.
BIP44 - Extending BIP32 via defined derivation paths.

As you can see, the full path from mnemonic phrase up to the private key/public key pair is done using open source technologies, meaning any other software and hardware wallet can implement the exactly same method.
Such has been done ample times and there is a long list of alternative ways to get to your keys and thus funds in case you lose your device / it becomes unusable.

A few more points of information:

Both the Ledger and the Trezor do use proprietary software, but not in the process of generating keypairs.
slush and stick are co-authors of BIP39 & BIP44, and the founders of SatoshiLabs, the company selling Trezors. So while they created some of the software used, they have made it available to everyone.

petrcoin

sr. member

Activity: 658

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We should all be reminded that there is no 100 percent secure system or in this case your Bitcoin holdings and any assumption of its solid

security would be dangerous and we should always be security conscious and practice those actions mentioned in previous posts. I think

using a hardware wallet would be excellent but I suggest to try to harden your pc security (e.g. use firewalls, antivirus, use VPN, password manager

etc) to make it more harder for intruders to attack your system.

BitValve

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Quote from: Kakmakr on August 29, 2019, 01:46:14 AM

The hardware manufacturer designed the device to work with other wallet providers, so you only have to use the "seed" that was generated, when you configured the device, to enable you to "import" those coins onto other wallet provider's software. Grin

You do not have to use your hardware wallet with the software that were provided by the manufacturer, you can use it with other software to access the coins. Wink

If the company goes bankrupt, other software developers will quickly jump at the opportunity to grab that market with all those customers. Wink

The seed is actually the 12-24 word seed that you can only use within the hardware device (trezor etc..) in order for the device to recover your funds. Im not sure that you can use these words to recover wallet somewhere else, most probably not. After recovering funds you can then move those funds to any wallet provider software or hardware.

antisocial77

jr. member

Activity: 378

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Whatever you do there is always a risk.those suggestions are good ofcourse but they only reduce the risk.shortly cyber world will never be %100 secure.

Kakmakr

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The hardware manufacturer designed the device to work with other wallet providers, so you only have to use the "seed" that was generated, when you configured the device, to enable you to "import" those coins onto other wallet provider's software. Grin

You do not have to use your hardware wallet with the software that were provided by the manufacturer, you can use it with other software to access the coins. Wink

If the company goes bankrupt, other software developers will quickly jump at the opportunity to grab that market with all those customers. Wink

ethereumhunter

hero member

Activity: 2912

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First, I would say you're doing good to secure your wallet.

As long as you save 24 word-phrase and have the back-up, you don't have to afraid if somehow the company closes their business because you can transfer it into another device. There are a lot of devices you can use, like for example, you can use electrum in the computer, android phone, or laptop. The other thing you can do is don't tell other people about how much bitcoin or altcoin you have, don't tell them where you store the wallet, and you're good to go.

Topic: How to 100% Secure Bitcoin from Thieves / Hackers / Government??? (Read 603 times)