Is this a safe practice sending Bitcoin and accessing Bitcoin wallet?

Ronsbit

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Quote from: KiaKia on February 21, 2023, 03:37:40 AM

Mobile Data subscription is very high in my country and the cheapest internet sub is only available through Router monthly subscription, this is why I find myself connecting my smartphone to my router for cheap easy internet connection.

The suspicion I am having right now is how I blocked an unknown strange connection on my router days ago through my PC, I never authorized that strange connection.

I believe that my Router is secured enough, because even when I shared with my gaming console it shows NAT TYPE: STRICT, not OPEN, I believe this should add more security layer? Wrong or right?

The question I have for my Bitcointalk forum Family is how safe is my Electrum wallet or other Bitcoin wallet when I connect my smartphone to my router?

Because I have read many times that criminals can use hotspot hacks to do evil things, Do you in any way, believe that its unsafe to send Bitcoin to exchange or other wallet address using Wifi Router connection?

What danger lies ahead using this type of internet connection?

That is not a problem mate but what i think you should have done has already been said. You ought to reset your password and set a very strong password for it. No one is spying or being connected to your router. Then for the question of a wallet been safe, that can not be guaranteed even by the developers of the wallet as they tell you to protect your passphrase too.Normally, using public hot spot is very risky as it exposes your details to hackers that is the reason you are advised not to use public wifi to do transactions because the safety of your details are not guaranteed at that moment.

drwhobox

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In short you are using a shared wifi connection in your home, which is safer than a connection from public wifi. Your router can only be accessible from you, I don't think your internet provider can spy on you or any could. You can use a strong password on your router for enhanced security purposes. Stop giving any access from your wifi to anyone outside your family.

To make your electrum wallet secure, you can use any paid vpn or tor to access it.

blockman

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Just remember that if it's a private connection, you don't have to worry. They may have logs of the websites that we visit and probably the apps as well but I don't think they have our credentials on these websites, that's a different and separate case.
Are you worried that someone from the telco companies will have some sort of spy and will get the details we use in our login credentials with wallets that we use? Just make sure that you don't save your private keys on your smart phone and that's where the worry will be gone. Because I've seen stories that they have never thought that their smart phones will be gone and they've kept their private keys there and that's more worrisome.

sheenshane

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Once we're connected to the internet we're always vulnerable to hacking but it doesn't mean you're not safe.

This is what you should do with your internet connection.

Strong password that is not easy to guest
Router's firmware is up to date
Strong encryption to secure your wireless network, (WPA2)
firewall monitors traffic, blocks any unauthorized traffic
Regularly check your router's logs to see if there have been any unauthorized attempts to access your network.

That's usually what I always do with my Routers to check always.
Aside from that, sending Bitcoin using Electrum is still at risk depending on your computer use, not your connection, you can use Electrum while not connected to the internet.

dunfida

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Quote from: KiaKia on February 21, 2023, 03:37:40 AM

What danger lies ahead using this type of internet connection?

If you do see somethings suspicious connection which had connected into your router then the best thing to be done is to reset that router and try to put up a 8 or more characters as password or make it
hard as possible.You cant really be hacked on your electrum wallet if you do try to access out your device on the said router, it is really just a connection and there's no way for someone
to send out someones coins into their wallets without touching or having an access on the device itself. I do understand sometimes that being paranoid in towards security
is much better rather than on making yourself that confident.

Fivestar4everMVP

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Your own connection I believe is secure enough, what I know that is really advised against is connecting to public wifi, public wifi is one of the ways through which hackers can spy on you and as well, steal vital informations from you.
Through public wifi, hackers can download secret keyloggers into your system, through which they can steal your login details to several platforms, they can also steal your passphrase or private keys, they can also access files stored on your system and if you are the type that keep your wallet details on your system, then you are already at risk of losing all your funds.
So in the nutshell, avoid public wifi, they do more harm than good, if you are on your own network, I believe you are secure.

GeorgeJohn

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Quote from: Merit.s on February 21, 2023, 05:16:58 PM

You are safe but not 100% safe just as Loyce said,you should use a strong password and change the default password of your admin panel if,you haven't so that you nobody will have access to your privacy. Use a hardware wallet to keep your funds if you want to hold for long but if it is your daily spending then you can leave your coins in an online wallet for easy access.

People are the one that contribute hundred percent of exposing your wallet seed phrase, electrum what have a higher security functions which you safeguard your coin using electrum, but were it get exposed is the process whereby the seed phrase is been save via online, but the process whereby it's documented offline it's when your privacy will be assured but basically or depending on the level of the offline documentation.

Merit.s

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You are safe but not 100% safe just as Loyce said,you should use a strong password and change the default password of your admin panel if,you haven't so that you nobody will have access to your privacy. Use a hardware wallet to keep your funds if you want to hold for long but if it is your daily spending then you can leave your coins in an online wallet for easy access.

Solosanz

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I think the problem would be with your privacy and IP address, it's not that easy a malware will attack your phone by just connecting internet via router. When you want to send Bitcoin to the exchange, then you will need to use internet connection since that's the only way to access it. There's no problem about it, actually the risk of centralized exchange would take all of your coins are higher than unsecure internet connection.

LoyceV

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First, you should realize "safe" is always a compromise: it's never 100.00000000% safe, there's always some risk. So that leaves the question if it's safe enough, and the answer depends on your personal preference.
I connect my smartphone, laptop and other devices in the house to my router. Many people do that, and it's not something I worry about. At least the router uses NAT, so that's an additional barrier between the outside world and my device. I'm not sure if my mobile data provider does that too.
The next later of security is only using small amounts in your hot wallet: don't keep all your Bitcoins on your phone! Use offline cold storage for the majority of your funds, and only expose funds that you can afford to lose to the internet.

mendace

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You shouldn't be in big danger if someone has connected to your router but I suggest you use electrum offline, or another good practice is to use a VPN to connect your mobile device even better if you use a tor network.

Aanuoluwatofunmi

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Quote from: KiaKia on February 21, 2023, 03:37:40 AM

The question I have for my Bitcointalk forum Family is how safe is my Electrum wallet or other Bitcoin wallet when I connect my smartphone to my router?

Your electrum wallet on the PC should be safe provided that you're not connecting the mobile device through router to be interconnected with the computer being used for your wallet, that's why the computer should be an airgapped device with no internet connection, you should also make sure that you don't import your wallet using the private keys to your mobile device which means getting connected through the mobile device can also be a vulnerability for the wallet to get get hacked, always disconnect your device from the internet if connected to your wallet.

Charles-Tim

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Quote from: Upgrade00 on February 21, 2023, 06:42:20 AM

For better security, your electrum device should not be connected to the internet, but if you must, running it through your personal connection does not pose any additional risk.

Yes, I agree as well, but there may be a privacy concern. Assuming if their is an actor (attacker) that just know the password and using the router for browsing, that does not pose any risk to privacy. But if the actor is able to gain access to the admin panel if the user do not change the admin password from default, the actor will be able to know the victim's browsing history through the admin panel just like public WiFi. As for security, no security risk, but privacy can be affected if the admin password is not changed from default. But if a strong password is used, it will be difficult for an attacker to know the router's password, before he can even think of accessing the admin panel.

Upgrade00

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Can an unauthorized party gain access to your router connection? Yes.
Can that party use that access to influence devices you connect to the same router? Highly unlikely.

For better security, your electrum device should not be connected to the internet, but if you must, running it through your personal connection does not pose any additional risk.

Charles-Tim

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It is your router, not public WiFi that is not secure and that can spy on you. Do not see this as a problem at all because your connection with your own router is secure, although your internet service provider can spy on you too.

Use a very strong password with your router, it it what you can always access.

You know that for privacy and anonymity, you need Tor.

For better wallet security and safety of your coins, use cold wallet or reputed hardware wallet.

KiaKia

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Mobile Data subscription is very high in my country and the cheapest internet sub is only available through Router monthly subscription, this is why I find myself connecting my smartphone to my router for cheap easy internet connection.

The suspicion I am having right now is how I blocked an unknown strange connection on my router days ago through my PC, I never authorized that strange connection.

I believe that my Router is secured enough, because even when I shared with my gaming console it shows NAT TYPE: STRICT, not OPEN, I believe this should add more security layer? Wrong or right?

The question I have for my Bitcointalk forum Family is how safe is my Electrum wallet or other Bitcoin wallet when I connect my smartphone to my router?

Because I have read many times that criminals can use hotspot hacks to do evil things, Do you in any way, believe that its unsafe to send Bitcoin to exchange or other wallet address using Wifi Router connection?

What danger lies ahead using this type of internet connection?

Topic: Is this a safe practice sending Bitcoin and accessing Bitcoin wallet? (Read 207 times)