Topic: Most Secure bitcoin wallet ? - page 2. (Read 36312 times)

Blockchain.info wallet isnt really secured, ive read some users lost their bitcoins on bc wallet so maybe its only good if you are not storing large amounts there

No other than but it is the blockchain.info
I really trusted that bitcoin wallet.

if you store your bitcoins in a 3rd party site like exchanges then your coins isnt really safe as you dont have the full control over your private keys so in the case of site closing without notice to their users then your coins will be gone or if they claim their hot and cold wallets are hacked

I have my BTC online.  I am not sure if this is a secure method, but I have never had an issue with it and my BTC is always there when I go to it.  I never had any transfer issues or accessing my BTC when I need to.  It is very easy and I have access to it anywhere I have the internet.

ive been using mycelium for about 5months now and i can say its 1 of the best bitcoin wallet, however if we are using mobile wallet we should always have a backup of our private keys in a safe place coz we dont know what can happen to our mobile phones such as losing etc

Im use mycellium at 3month and im never have issue about it
my bitcoin is secure
i know my balance not much only under 1btc

The most secure wallet you can get is one that you have with you, one you can disconnect from the internet when you want to.  I have my BTC placed on my Netbook.  This allows me to enter it to the system when I need something and take it offline when I am not using it.  I use another online wallet for an intermediate transfer to my wallet when I have something worth transferring.  If you can secure it off line, it is a great wallet.  just do not loose it, or it will be gone forever.

Thanks for the answers to everyone.
My question was if there is a hardware wallet that is supported by mobile wallet applications. As far as I understood it correctly, Mycellium is the one wich supports one of them (trezor). I understand that you don't recommend the mobile wallet for storing more than 1 BTC because of security and the possibility of losing the phone.
If we only consider security, I don't really understand what can be the problem with a phone (compared to a PC) if I use the same hardware wallet (e.g. trezor). Does it matter if I use the trezor on different platform? Not the trezor itself that guarantees the security?

The absolutely safest choice would likely be Armory, running on a system that you not only control physically, but have a deep level of trust that you are in fact the sole person in control of it (meaning, Windows as an OS is likely out).

But since you're currently using a web wallet (blockchain.info), I suspect you're not really asking about the absolutely safest choice, but wonder if online wallets are "safe enough". Right?

There's no easy answer to that, since it heavily depends on the total value you plan to store in your wallet. For anything above 1 BTC, I would personally recommend not to use an online wallet.

On the other hand, Armory, or Bitcoin Core can be a bit cumbersome to get to work, and are maybe not for everyone. As an in-between solution, I think Electrum is an excellent choice. Installation is trivially easy, you avoid downloading the entire Blockchain, and it uses a deterministic seed that allows to recreate your private keys in case you ever lose your computer.

In terms of security, there is a small trade-off compared to, say, Armory, in that you trust a third party to provide you with an accurate version of the Blockchain. Note however that this does not mean your stored funds are in any way at risk, or that your transactions can be altered -- the only possible attack vector (to my knowledge) is that of delaying a transaction you want to send. And even that has never happened once, as far as I know.

You can see by my signature that I'm a big fan of Electrum. I think everyone who currently uses an online wallet should seriously consider switching to it. /fanboy

It all depends on the user though.  Say rooted and jailbroken phones... normally are not near as secure as one that was not opened up for that extra access.  Also it would become important to always be up to date on updates.  And as far as staying secure not installing much apps, or visiting certain sites again varies hugely based on person.

I think we agree on the key thing is that it should be considered a hot wallet.  So that really effects how it should be used.

Smartphones are quite secure but the user must not install too much apps. Arguably, this risk is almost the same as an desktop's. It is more of the fact that it is very portable and users can lose it easily.

Mycelium supports trezor if that's what you mean.

DO NOT put a big holding wallet on a smartphone, it is not as secure as cold storage.  Treat it as hot storage, and only keep spending money.   There is just not enough good security for phones specifically if your rooted/jailbroken.

I can't remember the name but there is one that was a hardware but one was being designed with cell phone support internal.   Hopefully someone can link to that been a while since ive heard about it.

Get something on your phone with 2factor, so you at least have more then one password.  But again remember its a hot wallet don't keep much there.  Really read into cold wallets or hardware.  Not phone wallet.

Can you use hardware wallets with smartphones? Or they can be used only with PC's (windows only, or linux/mac also supported)?
I haven't bought a hardware wallet yet but I'm interested in. You need to use it only when you want to spend your BTC's if I'm right.

I'm pretty sure it is a yes. I haven't encounter anyone with problems using that offline generator. However, all in all, review compile the script yourself. By running a precompiled script, you are trusting your keys with the person who compiled it. I would recommend going for bitaddress.org though. The UI is much easier there.

Im use vanitygen offline mode use this tutorial https://www.cryptocoinsnews.com/get-custom-bitcoin-address/
my address 1paperxxxxxxx

so this is safe or not ?

It depends on your generation and spending methods. If you generate it on a freshly installed offline OS, you are likely not to have problems if the code used for generating the wallet isn't bugged. Same with the spending.

so paper wallet is best option ? easy to use, secure wallet (offline) and cheap
anyway i hold 0.4btc at my paperwallet too, i will claim it after 5year
I hope i was not tempted to claim it

Most malware would require at least an internet connection to operate. Without it, commands can't be received by the malware if it exist in your computer and is hence very secure. Arguably, hardware wallets are more secure if the firmware is secure and open-source. However, I still find offline wallet quite secure.

Coinbase has also the two factor authentication but the platform itself should be secured first, but at the moment they are pretty good secured, and as a most biggest bitcoin business company.

why? i cant agree with this statement if the wallet is a hardware one its nearly impossible to hack it in my opinion so why is it insecure?