Is bitcoin paper wallet safe to dump bitcoins ? - page 4.

virtualx

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LOTEO

Quote from: letyouearn on June 08, 2015, 12:02:13 AM

I am looking to dump my bitcoins to safe place to btc paper wallet. I want to know that is this safe to use paper wallet for storing my btc fund.

Post your valuable suggestions.

They are viewed as safest option because they are not connected to the internet because a paper wallet cannot get virus or trojan like a computer. Your bitcoin account is essentially a private key and address, which are the only things you need to know to move your bitcoins anywhere. You could still lose or break your paper wallet so keep them in a safe place.

AT101ET

legendary

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I assume by dump you mean store as in long term?
Paper wallets can be safe but it all depends on how you make them.
It's best to use an offline generator with an offline computer. Make sure whatever code you're running is clean and has no back doors.
Bitcoinpaperwallet has a tutorial on its site for creating safe offline wallets.
Just to be extra safe, I'd distribute my BTC over a few paper wallets to prevent losing them from theft, hacks (if the private key was compromised), damage and theft/loss of the paper wallet.
As long as you keep them safe and you know where they are, you can't really go wrong.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

I would rather store my Bitcoins on a Trezor than storing it on a paper wallet. The thread Amph posted here also shifted my trust, when I read it for the first time a while ago. I was one of the people, saying paper wallets are the safest option to store Bitcoins. I was wrong ^sad^
A Trezor can also be hacked but you have to be in possession of the hardware wallet to do it.
My Trezor is locked up in a safe in my house. So good luck with that.

bounst

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I think it is safe to dump on Bit-x which is in your signature Wink

AGD

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Keeper of the Private Key

Quote from: NorrisK on June 08, 2015, 01:32:36 AM

Quote from: Amph on June 08, 2015, 01:23:00 AM

i don't like them, and this thread helped me to ignore them completely

https://bitcointalksearch.org/topic/time-to-bust-a-myth-paper-wallets-are-less-secure-than-normal-encrypted-wallets-1013586

i'm still in favor or pendrive, just more than one, and it is better to save the whole wallet.dat and not only the key

Would it be possible to encrypt a paper wallet? Or is this against the whole idea of a paper wallet? If so, that would be ideal I guess.

Use lemon juice as ink

NorrisK

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Quote from: Amph on June 08, 2015, 01:23:00 AM

i don't like them, and this thread helped me to ignore them completely

https://bitcointalksearch.org/topic/time-to-bust-a-myth-paper-wallets-are-less-secure-than-normal-encrypted-wallets-1013586

i'm still in favor or pendrive, just more than one, and it is better to save the whole wallet.dat and not only the key

Would it be possible to encrypt a paper wallet? Or is this against the whole idea of a paper wallet? If so, that would be ideal I guess.

Amph

legendary

Activity: 3248

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i don't like them, and this thread helped me to ignore them completely

https://bitcointalksearch.org/topic/time-to-bust-a-myth-paper-wallets-are-less-secure-than-normal-encrypted-wallets-1013586

i'm still in favor of pendrive, just more than one, and it is better to save the whole wallet.dat and not only the key

dollarneed

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paper wallets are often a very secure way of storing bitcoins, since they are not typically exposed to malware. but you have to be carefull for back up it or you want lose your money

S4VV4S

hero member

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Paper wallets are considered by most people as the safest option.

To make it even safer you could:
Use a computer that has never been and never will be online.
Use a brand new USB stick.
Use a disposable printer (optional).

Make the USB stick bootable with any OS of your choice.
Create a Multisig address.
Print or write down the private key and address.
Destroy and properly dispose the USB stick and the printer.

You should be pretty safe with that.

Harry Hood

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Safety is more about your actions than the medium of your wallet. I think you should work to make sure the method for creating your wallet was as secure as it could be and that you have multiple copies of the private key stored in multiple locations.

Are you planning to have a large balance (no need to answer that question), but if you are you should consider developing a system that works for you to remember your private key and keep it safe from anyone else. Whatever it is, make sure it's something that you could literally walk away from for 5 years (like if you lost interest in BTC for a while) and then come back to and still be able to access your coins.

Good luck.

AGD

legendary

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Keeper of the Private Key

I think paper is only the second best medium to dump Bitcoins. The best is: https://en.bitcoin.it/wiki/Proof_of_burn

letyouearn

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Quote from: Kprawn on June 08, 2015, 12:10:27 AM

It all depends on how they were created. If it was created on a "clean" computer without virusses and malware, you will have a better chance that it might be safe.

If it was created "offline" you might have a better chance that it might be safe.

If it is protected with BIP-38 protection. you have a slightly better chance.

If the computer on which you created it, stay "offline" you would have a even better chance.

Nothing is 100% safe... but we try all these things to increase our chances. There have been many threads explaining this, and safe methods to create a more secure paper wallet. Cheesy

Can you post the method or topic url describing how to create a safe bitcoin paper wallet.

Kprawn

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It all depends on how they were created. If it was created on a "clean" computer without virusses and malware, you will have a better chance that it might be safe.

If it was created "offline" you might have a better chance that it might be safe.

If it is protected with BIP-38 protection. you have a slightly better chance.

If the computer on which you created it, stay "offline" you would have a even better chance.

Nothing is 100% safe... but we try all these things to increase our chances. There have been many threads explaining this, and safe methods to create a more secure paper wallet. Cheesy

letyouearn

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Activity: 1722

Merit: 1014

I am looking to dump my bitcoins to safe place to btc paper wallet. I want to know that is this safe to use paper wallet for storing my btc fund.

Post your valuable suggestions.

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