Need Advice Securing Bitcoin Core Wallet Any Tips? - page 2.

un_rank

hero member

Activity: 644

Merit: 661

- Leo -

Quote from: MicroScript on April 14, 2024, 11:43:29 PM

While lite wallets like Electrum offer convenience but I prioritize security.

There really is nothing like a lite bitcoin wallet. Closest example I can think of is a web wallet which is constantly offline and is very unsafe.

How you handle your wallet determines the security you get back. A cold wallet on electrum which keys that have never been online is safer than a hot wallet on bitcoin core which is managed less securely.

- Jay -

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: MicroScript on April 14, 2024, 11:43:29 PM

I prioritize security.

On a hot wallet?

MicroScript

newbie

Activity: 28

Merit: 4

Quote from: BitMaxz on April 14, 2024, 01:43:34 PM

Do you have any reason why you chose to use a Bitcoin core wallet rather than a lite wallet like Electrum?
Because Bitcoin core wallet needs lots of resources unless you need a full node for development or something?

I chose it because of the security and autonomy it offers. And I have direct access to the entire blockchain if I running a full node with Bitcoin Core And I have full control over my funds. While lite wallets like Electrum offer convenience but I prioritize security.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: MicroScript on April 14, 2024, 11:55:03 AM

I want to make sure my wallet and funds are as safe as possible.

That means: cold storage, and backups. A hot wallet should only be used for amounts needed for daily use, and amounts you can afford to lose. Anything else should be in cold storage. Setting up proper cold storage is a bit of work, but it's the only way to be sure online attacks are not possible.
Depending on your needs there are many different ways to create cold storage.

Z-tight

hero member

Activity: 854

Merit: 1031

Only BTC

Quote from: MicroScript on April 14, 2024, 12:34:05 PM

I am interested to understand how Bitcoin Core tackles security threats. Could you share some insights into the security measures built into Bitcoin Core to protect users' funds and data?

No wallet 'tackles' security threats for you, it is recommended to use open source, self custodial and well reviewed wallets, but your funds is only as safe as the device you use, your opsec and your knowledge. Bitcoin core is recommended, but if you use it, just like any other wallet, in an unsafe environment, you may lose your funds.

If you want to use Bitcoin core only because you think it will protect your funds for you, then i feel you should go for open source light client wallets like Electrum or BlueWallet, and focus on your opsec as well as running your wallet offline.

BitMaxz

legendary

Activity: 3234

Merit: 2943

Block halving is coming.

Do you have any reason why you chose to use a Bitcoin core wallet rather than a lite wallet like Electrum?
Because Bitcoin core wallet needs lots of resources unless you need a full node for development or something?

For the best solution securing your Bitcoin core wallet only install and create your wallet into cold storage never connect it to online to avoid malware and hacking.
You just need to learn how to do offline transactions you can use Electrum as your watch-only wallet and where you can make unsigned transactions and sign them in your offline Bitcoin core wallet.

promise444c5

full member

Activity: 266

Merit: 119

Keep Promises !

Firstly, you need to understand that Bitcoin core uses AES ( Advanced Encryption Standard) to encrypt its wallet, the encryption is considered a very secure one.
That feels like the major implementation
Apart from that, once you run a bitcoin Core you have the same advantage with running a full node along with your wallet
Check
https://bitcoin.org/en/bitcoin-core/features/validation

MicroScript

newbie

Activity: 28

Merit: 4

Quote from: promise444c5 on April 14, 2024, 11:58:12 AM

Encrypt your wallet.dat and then back it up to a safe place like an external drive, use a very strong combination for your passphrase while encrypting.
To prevent your external drive from getting corrupt do not use it on any random device
Write down your passphrase in a cold form mostly paper but because of some hazardous events that may occur like fire you could craft it on an aluminium sheet keep it somewhere safe.
Next time you try to import your wallet you will be needing the passphrase to make it possible

Your advice on securing the wallet.dat file has been helpful. I am interested to understand how Bitcoin Core tackles security threats. Could you share some insights into the security measures built into Bitcoin Core to protect users' funds and data?

promise444c5

full member

Activity: 266

Merit: 119

Keep Promises !

Encrypt your wallet.dat and then back it up to a safe place like an external drive, use a very strong combination for your passphrase while encrypting.
To prevent your external drive from getting corrupt do not use it on any random device
Write down your passphrase in a cold form mostly paper but because of some hazardous events that may occur like fire you could craft it on an aluminium sheet keep it somewhere safe.
Next time you try to import your wallet you will be needing the passphrase to make it possible

MicroScript

newbie

Activity: 28

Merit: 4

Hey everyone,

I recently started using Bitcoin Core, and I'm loving the control it gives me over my funds. However, I'm a bit concerned about security. I've heard that as a full node implementation, it's crucial to manage private keys carefully to avoid any potential risks like malware or hacking attempts.

Can anyone share some practical security tips or precautions they've taken while using Bitcoin Core? I want to make sure my wallet and funds are as safe as possible. Any advice or insights would be greatly appreciated!

Thanks in advance!

Topic: Need Advice Securing Bitcoin Core Wallet Any Tips? - page 2. (Read 348 times)