How to 100% Secure Bitcoin from Thieves / Hackers / Government??? - page 2.

xanxus.kun

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You have to get what you want your own way.

Quote from: cryptokwuk on August 28, 2019, 03:51:44 PM

As true as 'ledger does not have your keys' may be at this point. Remember that much of their hardware and software is proprietary and closed source. We don't fully know what the software and hardware does or is capable of doing.

I totally agree with this one, I'd rather keep it simple save your keys on a small piece of paper. Put in a secured and safe storage. Its not that I can't trust those third party protection but its better to be safe than sorry right?

pooya87

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it may just be me but i consider hardware wallets to only be good for when you have a large amount of bitcoin and also want to spend it regularly. otherwise they are not good for "storage". for that i still prefer cold storage where you choose a medium that is physically disconnected from the internet, and store your wallet/keys there. now that "medium" could be a piece of paper, wood or metal or it could be an operating system installed on a device that has no internet connection ever.

vintages

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Keeping it safe is possible but nothing is 100% safe in this modern world so don't be too sure, new technologies are proving us wrong everyday.
Even the toughest device can still be cracked down if those hackers are determined to do so. However it's good to know the length you are going to secure your funds.
Though, I personally feel the major threat are the hackers and thieves, less threat might come from the government.

South Park

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I am terrible at Fantasy Football!!!

Quote from: BTCEnthusiast2 on August 28, 2019, 12:23:37 PM

I'm trying to improve/perfect as much as possible the security of my Bitcoin.

My current security is:

snip
4. Only access my BTC on a computer that I rarely use and update the virus software to stop trojan horse/remote access.

I'm wondering a few things though:

snip
2. Is there anything else obvious I can/should do to improve this process?

Thanks for any comments or suggestions.

Since you are using an antivirus I suppose that you are using one of the many versions of Windows OS, if you are really serious about securing your bitcoins then you need to use something else, there are simply too many backdoors and it is impossible to completely secure a computer with a Windows OS, it is better that you use one of the many versions of Linux, if you have no experience with Linux then it could take some time to get used to it but it is worth it since you will know the chances of losing your coins to a hacker will be low, also it could be a good idea to encrypt your computer just to be completely sure you are doing everything you can to avoid to lose your coins.

cryptokwuk

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As true as 'ledger does not have your keys' may be at this point. Remember that much of their hardware and software is proprietary and closed source. We don't fully know what the software and hardware does or is capable of doing.

leowonderful

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Bitcoin FTW!

Quote from: amyshek1979 on August 28, 2019, 02:50:03 PM

As I remember Ledger is non-custodial so they don't own your keys. If I'm wrong, tell me guys.

Nope, you're correct. You're the one in charge of your keys if you're using any hardware wallet.

I actually do keep some coins in Blockchain.io and some other wallets for daily use, but I keep the majority of my funds that I'm not actively using in my Ledger Nano S and Trezor devices. You ideally should not be keeping funds long-term on these wallets, but they're just fine if you want a temporary place to keep your coins. At the end of the day, there's really no perfect solution to securely storing your coins, but some are better than others. I like using hardware wallets as they're relatively simple to use and provide decent security.

amyshek1979

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As I remember Ledger is non-custodial so they don't own your keys. If I'm wrong, tell me guys.

lolxxxx

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Quote from: BitValve on August 28, 2019, 02:19:35 PM

Quote from: lolxxxx on August 28, 2019, 02:15:21 PM

I really do not know why you guys have that levels of security I had used blockchain.info before but never had any security issues stored a lot of money there but never used anything except 2fa (email and password) that is it.

Actually, you give open holes to hackers otherwise it is not traceable or hackable...

Its not always a good idea to keep your crypto on sites that have your private keys. Its always safer to just have a hardware wallet, or at least have the coins in your own wallet and then only use the online services such as blockchain.info (or why not bitvalve.com) Cheesy

But I never had any problem because I have never shared any info with anyother person even didn't tell about single transaction... So I keep my self secure.

P.S: So you are marketing your site nice, Why don't you look at my services? maybe I can help you market your site https://bitcointalksearch.org/topic/for-hiresocial-media-manager-and-campaign-manager-1405017

squatter

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STOP SNITCHIN'

Quote from: BTCEnthusiast2 on August 28, 2019, 12:23:37 PM

My current security is:

1. Use Ledger Nano S to store keys

Consider one thing: Ledger incorporates closed source elements in both the hardware and firmware of their wallets. You are putting a lot of trust into a third party.

I prefer to use a fully open source wallet and a fully air-gapped cold storage solution.

Like AGD mentioned, many people only consider physical key security. They often neglect to secure themselves from the $5 wrench attack. Part of your security model should involve being private and not discussing your cryptocurrency holdings. Greed is a powerful thing.

AGD

legendary

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Keeper of the Private Key

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.

BitValve

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Quote from: lolxxxx on August 28, 2019, 02:15:21 PM

I really do not know why you guys have that levels of security I had used blockchain.info before but never had any security issues stored a lot of money there but never used anything except 2fa (email and password) that is it.

Actually, you give open holes to hackers otherwise it is not traceable or hackable...

Its not always a good idea to keep your crypto on sites that have your private keys. Its always safer to just have a hardware wallet, or at least have the coins in your own wallet and then only use the online services such as blockchain.info (or why not bitvalve.com) Cheesy

BitValve

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Quote from: ?? on ??

Apart from all these process of using different wallets for securing the funds you should also have the responsibility that you're a cryptocurrency user. You should not reveal to outsiders that you are a bitcoin user, because in these days of increasing hack and crimes happening to steal bitcoins what we reveal as a pathway and keep on following you.

Totally agree that you shall not really tell anyone your direct involvement with bitcoins.. Especially when the bitcoin price is increasing and its becoming a tp story in the news.

lolxxxx

legendary

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I really do not know why you guys have that levels of security I had used blockchain.info before but never had any security issues stored a lot of money there but never used anything except 2fa (email and password) that is it.

Actually, you give open holes to hackers otherwise it is not traceable or hackable...

Ucy

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Compare rates on different exchanges & swap.

You could have 3 parts of your keys buried/hidden in different places. It is more like multisig addresses. You could also have multiple addresses for different amounts of Bitcoin, just in case if someone like a kidnapper, who knows you own alot of Bitcoin demands for your private keys or forces you to transfer your Bitcoin to him/her. You could just give him/her the private keys with least amount of Bitcoin.

Carlton Banks

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Quote from: BTCEnthusiast2 on August 28, 2019, 12:23:37 PM

4. Only access my BTC on a computer that I rarely use and update the virus software to stop trojan horse/remote access.

anti-virus = digital snake oil

real 4. Install secure operating system on computer (i.e. not Windows)
5. Install & configure MAC package (mandatory access control)

step 5 isn't easy, but either you want secure Bitcoins, or you don't

BitValve

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Quote from: BTCEnthusiast2 on August 28, 2019, 12:23:37 PM

I'm trying to improve/perfect as much as possible the security of my Bitcoin.

My current security is:

1. Use Ledger Nano S to store keys
2. Have 24 word back-up phrase stored in multiple hidden locations that no-one will find
3. Only access my BTC on hard-line internet connection (no wifi to stop hackers intercepting)
4. Only access my BTC on a computer that I rarely use and update the virus software to stop trojan horse/remote access.

I'm wondering a few things though:

1. If the Ledger Nano company goes out of business, where will my keys go? How will I access them?
2. Is there anything else obvious I can/should do to improve this process?

Thanks for any comments or suggestions.

1. Im not very familiar about Ledger nano but having used Trezor, the keys are stored internally in the hardware wallet, so even if the Nano company goes out of business the hardware wallet should still work and it will still contain your keys in it. Meaning you will be able to use them normally.
I would also suggest you to buy a second ledger nano, and just leave it somehwere, just in case you lose the main device. Then with your 24word backup you will be able to recover them on the new wallet.

Harlot

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The Ledger Nano you have brought from them isn't dependent on the company's success financially in fact your Ledger Nano will work independently as long as you have the keys for it. If something like that happens that a hardware wallet is dependent on the company or somehow have access to your wallet nobody will be buying in them in the first place because you are just like storing your cryptocurrencies on an exchange that there is a possibility that it will be lost in the future due to them being hacked or being bankrupt. Only downside is you won't have firmware updates from them since they have shutdown in your scenario but I doubt users even frequently bring up there wallet just to update it.

DoublerHunter

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Just always put in a safe place your passphrase and password in your LedgerWallet. If you can afford another wallet much better if you split into 2 LedgerWallet. Remember that don't put all your eggs in one basket, you should keep into another one. As of now, that is the best option in storing Bitcoin, so it's our responsibility to keep them in a safe place. Nevertheless, Lutpin has a good suggestion importing to another bitcoin wallet and restore if ever LegerNano company will go out business. We should always be careful always by our fund.

Lanatsa

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Quote from: BTCEnthusiast2 on August 28, 2019, 12:23:37 PM

I'm wondering a few things though:

1. If the Ledger Nano company goes out of business, where will my keys go? How will I access them?
2. Is there anything else obvious I can/should do to improve this process?

Thanks for any comments or suggestions.

Once you have the keys of your wallet or addresses then it do belong on your forever and no one can take it from you hence Ledger company doesn't hold up
they keys and anytime you can import it on a wallet using up those seeds so this issue wont really be a bothersome incase the company would vanished unexpectedly.
How to secure up your Bitcoin 1005? theres no such thing yet anything do still have the risk on losing.Putting those coins in ledger and keep it away from people awareness is already enough and its up to your diligence on how you would keep up your keys safely without being compromised by other parties.

BTCEnthusiast2

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Thanks for the advice guys, that makes a lot of sense.

Topic: How to 100% Secure Bitcoin from Thieves / Hackers / Government??? - page 2. (Read 636 times)