How to store your Bitcoin in a safe way? -> HARDWARE WALLETS! - page 2.

CoinCidental

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Si vis pacem, para bellum

Quote from: elliwilli on December 17, 2014, 01:58:34 PM

That's pretty cool.
For now im sticking to a offline wallet stored on a flash drive in a firesafe.

You should have more than 1 of those, flash memory fails regularly

I have between 20-30 copies of my main bank (wallet) so the odds of losing every backup in say 10+ years is quite slim

elliwilli

sr. member

Activity: 307

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et rich or die tryi

That's pretty cool.
For now im sticking to a offline wallet stored on a flash drive in a firesafe.

Simon8x

hero member

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Merit: 500

Quote from: picolo on December 16, 2014, 06:05:57 PM

Quote from: samuelseidel on December 16, 2014, 03:15:03 PM

It isn't securest way to keep your bitcoins, but maybe cheap and secure.

I think that paper wallet is better for small amounts, and for bigger amounts you should buy and use Bitcoin Trezor.

If you do things correctly a paper wallet is very safe for large amounts too.

Exactly. If you create your paper wallet correctly (no internet, fresh OS, use open-source tested script, provide enough entropy with mouse movement, remove everything afterwards) then your bitcoin in it is very safe.

shadowmoon

full member

Activity: 210

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ActionCrypto.com ★ Bitcoin Binary Options

Use Paper wallet

Free and Secure Wink

tegli4a

newbie

Activity: 8

Merit: 0

+1

Paper wallet is secure and cheap, just you have do it as it has to be

picolo

hero member

Activity: 1022

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Quote from: samuelseidel on December 16, 2014, 03:15:03 PM

It isn't securest way to keep your bitcoins, but maybe cheap and secure.

I think that paper wallet is better for small amounts, and for bigger amounts you should buy and use Bitcoin Trezor.

If you do things correctly a paper wallet is very safe for large amounts too.

samuelseidel

member

Activity: 91

Merit: 10

It isn't securest way to keep your bitcoins, but maybe cheap and secure.

I think that paper wallet is better for small amounts, and for bigger amounts you should buy and use Bitcoin Trezor.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: Coef on December 16, 2014, 09:37:53 AM

Quote from: picolo on December 16, 2014, 09:29:20 AM

Quote from: Coef on December 16, 2014, 08:30:57 AM

Quote from: sgk on December 16, 2014, 08:00:34 AM

A quote from the article:

Quote

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

You can spend the paper wallet in a second with the qr code.

If you are using a compromised computer, your bitcoin will be gone the second you imported the private key in your paper wallet.

As long as your BTC are on the paper wallet you are safe then you can use a non compromised computer to spend them.

BITMIXER.IO

sr. member

Activity: 261

Merit: 265

I recommend Armory wallet with fragmented paper backup. You may distribute several fragments between your friends or family.

Muhammed Zakir

hero member

Activity: 560

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I prefer Zakir over Muhammed when mentioning me!

Quote from: Coef on December 16, 2014, 09:37:53 AM

Quote from: picolo on December 16, 2014, 09:29:20 AM

Quote from: Coef on December 16, 2014, 08:30:57 AM

Quote from: sgk on December 16, 2014, 08:00:34 AM

A quote from the article:

Quote

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

You can spend the paper wallet in a second with the qr code.

If you are using a compromised computer, your bitcoin will be gone the second you imported the private key in your paper wallet.

With mycelium, it is more secure to spend from a paper wallet. You scan qr-code, it finds unspent bitcoins instantly and you can create a TX and push it. It will wipe everything related to that address after pushing.

~~MZ~~

Coef

hero member

Activity: 882

Merit: 1000

Exhausted

Quote from: picolo on December 16, 2014, 09:29:20 AM

Quote from: Coef on December 16, 2014, 08:30:57 AM

Quote from: sgk on December 16, 2014, 08:00:34 AM

A quote from the article:

Quote

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

You can spend the paper wallet in a second with the qr code.

If you are using a compromised computer, your bitcoin will be gone the second you imported the private key in your paper wallet.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: Coef on December 16, 2014, 08:30:57 AM

Quote from: sgk on December 16, 2014, 08:00:34 AM

A quote from the article:

Quote

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

You can spend the paper wallet in a second with the qr code.

Coef

hero member

Activity: 882

Merit: 1000

Exhausted

Quote from: sgk on December 16, 2014, 08:00:34 AM

A quote from the article:

Quote

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

A hardware wallet isn't better than a paper wallet in that aspect.
With a hardware wallet, you can bring it with you, plug it in a public or even a compromised computer to spend your bitcoin safely.

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

A quote from the article:

Quote

To allow the wallet to be restored in the event of loss or theft of the device, a mnemonic seed for a master key is randomly generated when the device is initialised, which must be written on a paper backup and stored safely.

How is this better than a paper wallet?

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

Quote from: feryjhie on December 12, 2014, 08:52:20 PM

for me i just move the wallet dat to my usb Cheesy

You should have cds, dvds, USB sticks, sd cards, paper wallets, cloud storage, email attachments and any other way you can think off

Never just have 1 backup of your btc wallet

Everything can fail over time so the more copies of it you hand the better if you have a non trivial amount of btc

Coef

hero member

Activity: 882

Merit: 1000

Exhausted

These hardware wallets are still not cheap enough IMO to compete with paper wallet. Yes, they are easier to use but the price is still a bit too high to hit the mass market.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: Muhammed Zakir on December 13, 2014, 09:24:01 AM

Quote from: edward_cullen on December 13, 2014, 09:06:39 AM

Mutliple back ups encrypted with your gpg keys and versions encrypted several of your friends gpg keys.

Then you would have to back-up your PGP secret key. Roll Eyes

If your PGP lost due to formatting of computer or data corruption, your BTC will be lost. It is better to encrypt the qr-code with password than PGP encryption.

~~MZ~~

I prefer the option of having a password too. You need to have a password never used elsewhere, with a high level of entropy but that you will remember Tongue

ninjaboon

legendary

Activity: 2128

Merit: 1002

use multi sig on a Linux laptop or paper wallets. safe bet.

hyphymikey

hero member

Activity: 784

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Trezor. And I love it.

Muhammed Zakir

hero member

Activity: 560

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I prefer Zakir over Muhammed when mentioning me!

Quote from: edward_cullen on December 13, 2014, 09:06:39 AM

Mutliple back ups encrypted with your gpg keys and versions encrypted several of your friends gpg keys.

Then you would have to back-up your PGP secret key. Roll Eyes

If your PGP lost due to formatting of computer or data corruption, your BTC will be lost. It is better to encrypt the qr-code with password than PGP encryption.

~~MZ~~

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