Topic: Is this a safe way to create a bitcoin wallet? (Read 561 times)
My advice is to use wallet hardware like Trezor or Ledger Wallet, it's very useful and practical. But the price is a little expensive.
Google Authenticator is really good and provides decent service but if you want more and trustworthy services then you can buy hardware wallets which are really great to secure your private keys as well as your assets.
hey do you think is safe from the hacker?
So that is why I must prefer the offline wallet or the hardware wallet that can never encrypt the private key nor hack it so try to use it and for sure your bitcoin was in the safest and secure. Many of investor was using the hardware wallet just look a like flash drive that to secure your bitcoin.
I give preference to hard wallets for btc as i am sure that it is the best way to store coins like this. To my mind, coins like btc are the best way to become rich. It will help me to achieve my goal
I say yes about it. Bitcoin wallet is the safest wallet because you can monitor it by your own, it can be use easily in sending money or paying. It is safe as long you keep your pasword by your own and have internet connection for the monitoring process.
This is understandable, but there is always the possibility that the private key may be lost and then you will lose access to all your money. For example, in a Fiat currency, you have the opportunity to go to the Bank and declare the loss of the card or loss of access to it. In the case of a bitcoin wallet, your funds will be lost forever and irrevocably for all owners of the bitcoin network.
I say yes about it. Bitcoin wallet is the safest wallet because you can monitor it by your own, it can be use easily in sending money or paying. It is safe as long you keep your pasword by your own and have internet connection for the monitoring process.
The safest method for your investment is to create a BTC wallet. The wallet is safer and you have the guarantee that no one can break your wallet. Using Google Authenticator is not safe.
Will it be safe to create a private key by encrypting absolutely random letters in SHA256, for example 'sdfguhiuwrUISDHGNIUXHIUCV238778dfvhgjhuidsahgfiu', encrypt these random letters and numbers in SHA-256 and use the resulting private-key for bitcoin? I can do this with the Internet turned off, I can encrypt the absolutely randomly typed phrase 'sdfgdhfsuyghuHUDUIHGHIUG878yet7y8bchxujxcbvhidsafhguihuq' in SHA-256, write the received private key and use it to use Bitcoin? Why use some kind of generators, when you can encrypt any randomized characters typed on the keyboard, and use the resulting private-key for bitcoin? After all, in fact, no one will know the phrases with the help of which the private-key was created, and the only way to lose it is if someone other than me gets access to the private key.
Your method is good. I believe there should be 2 ways to generate keys and passwords. We are all different and someone does not want to trust the program to create keys and passwords, and someone too lazy to create their own. To simplify their creation and reduce the risk of repeated characters, there are phrase and password generators. I think it's very useful.
There are lot of ways to create bitcoin and how you will protect it. All we want is to secure our wallet because we do not want to lose our cryptocurrency. I am afraid on losing my cryptocurrency so I always my best to protect my wallet. I use hardware wallet which is more secure.
People can crest their own bitcoin wallet by using the Android app in their smartphone but this is not my choice I would like to buy hardware wallet which is the best wallet ever in the crypto world so far I know and it provides the best performance.
If you create your private key yourself, using my method of pressing the keyboard many times, typing absolutely random letters and numbers, and then encrypting your randomly typed phrase into the private key SHA-256, you will be sure that the private key The key is created from a strong phrase that can not be cracked. If I'm wrong, correct me.
Your randomly typed phrase does not look very random. You have only letters in it. Where are all the /&%")?#@*^Ä- characters? A good random string is a string that cannot be compressed. Your string can be compressed, because it uses only a part of all characters.However. Even if that is not truly random, I believe no-one could crack your key currently. Just make your "random" string longer. You can give SHA256 algorithm much longer strings.
You can change one or two characters in your private key, put a small amount of bitcoins on the changed private key, and keep all your balance in a private key about when you only know one or two characters that you need to change in your private key in order to access your main Bitcoins. In the event that your private key is stolen, the attacker will receive a small part of bitcoins,
That is a brilliant idea, I have never heard before
nice layer of extra security.
For creating a powerful and strong bitcoin wallet the right and accurate methods of safety needs to place in which can assure the best and topmost safety for bitcoin wallet. Utilizing advanced encryption models for making a tough bitcoin wallet framework
Hardware wallets(Ledger Nano S) need connecting to PC, the PC is online.
The private keys still doesn't leave the Ledger device; regardless if it's online or not. My point still stands."Your private keys are held in a Secure chip, and they never leave it. Whenever a transaction is signed within the Secure chip, the private keys never become visible to the computer the Ledger device is connected to. A compromised computer will never be able to access the contents of the Secure chip."
Read: https://support.ledgerwallet.com/hc/en-us/articles/360000380313-Discover-our-security-layers
While, I think the bigest problom of hardware wallets is seed-words backup issue. Keys loss is big threat than theft for most of users
This "issue" you're referring to is an "issue" of all wallets that's using 12-24 word seed backups, not just hardware wallets. 
People poorly create Brain wallets, using words or phrases that other people can predict, in my case, I just press the keyboard with two hands and get completely random characters that no one can ever repeat and create a private key such as I have.
random words, yes I understand a little about this. but when creating a wallet and the address is automatically created with the random word, can the word be changed? Best practice to manage large amount coins should be choosing a multi-signature scheme.
For individle users mobile phone and personal computer multi-sig is practicable solution.
While that can definitely work for sure, this might be too difficult to do and might be too much of a hassle for people who just want to easily store their cryptocurrencies without doing much work/research.For individle users mobile phone and personal computer multi-sig is practicable solution.
Decent mobile Bitcoin wallet is good enough for daily use. Nowadays, the security performance of mobile phones surpasses that of ordinary hardware wallets. iPhone is more secure than a large number of hardware wallets(base on Android).
iOS devices are mostly safer than Android devices for sure. But iPhone devices being more secure than hardware wallets? Definitely not. While iOS devices are quite safe, the risk of the private keys being exposed is still there, as the private keys are still stored on the mobile device. Whereas with hardware wallets, the private keys never leave the device.
Sorry, but, why don't you just use Electrum for example to generate the wallet for you?
that is the way that many random number generators do it. they take a random input then hash it using SHA256. but remember that the hash is only done to turn the input into a 256 bit (32 byte) output so that it is within the range of valid keys, it doesn't add any randomness since the result is always the same.
and most important of all is the way you are getting that random input. if it is the following as you said in one of your comments:
and most important of all is the way you are getting that random input. if it is the following as you said in one of your comments:
I just press the keyboard with two hands and get completely random characters
i can't really say whether this is random or not but to me it doesn't look random enough. if you are so concerned about randomness and don't want to use a wallet that is already doing it then use a dice or a coin flip to generate your random number. The best way to create bitcoin wallet is to go on adroid or iPhone store and download Bitcoin wallet,believe me that is the safest way, that's what i use.Just give it a try,and if you don't like it dont use it.
Using a wallet on your mobile phone is definitely a good choice if we're talking about ease-of-use, but since OP was mostly referring to having a safe way of storing his/her bitcoin, the best choice here is probably simply getting a hardware wallet like the Trezor[1] or the Ledger Nano S[2]; or a paper wallet if you know what you're doing.
[1] https://trezor.io/
[2] https://ledger.com/
The best way to create bitcoin wallet is to go on adroid or iPhone store and download Bitcoin wallet,believe me that is the safest way, that's what i use.Just give it a try,and if you don't like it dont use it.
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