Nunchuk wallet | Bitcointalksearch.org

satscraper

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Quote from: Su-asa on March 01, 2024, 06:38:30 AM

Quote from: _act_ on May 23, 2023, 07:15:05 AM

Out

The wallet is good to use because it is an open source, non custodian, also have a good privacy and secure features.

To revive this unheralded thread I may add the following comment on this.

The latest release of this wallet is 1.9.52 ^{(which has appeared a few hours ago)}but the most noticeable thing for Nunchuk has happened two weeks ago when the previous 1.9.51 came out making this wallet^{(for Android, so far)} to support reproducible builds:

Quote from: https://github.com/nunchuk-io/nunchuk-android/releases/tag/android.1.9.51

Those users , who commit themselves to transparency and security in the wallet's realm will see the true value of it,^{(definitely I think)}.

satscraper

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Quote from: Su-asa on March 01, 2024, 06:38:30 AM

Quote from: _act_ on May 23, 2023, 07:15:05 AM

Out

The wallet is good to use because it is an open source, non custodian, also have a good privacy and secure features. Your mobile version can access it and it can also be accessible through desktops. The Nunchuk wallet is a good wallet because it has enough addresses.

Quote from: Crypt0Gore on February 29, 2024, 06:43:48 AM

I actually don't see any reason to change my old popular wallet for any new one, the old ones already have some reputation, if they are bad no one will use them, but it's not the same with new bitcoin wallets, especially this one with cloud backup, don't try it.

Perhaps, if your old wallet is functioning properly I think there is no need to create new one. What's important to any wallets is their security features, when the security is not good you have to change it, but if the security system is working perfectly you have to keep using it

Depends on the old wallet.

For instance, starting from v.21.0 Bitcoin Core wallets are descriptor-type ones and though they support (nowadays) the old (non- descriptor-type) wallet.dat format, the relevant old stuff is gradually shifted to the full oblivion. (the timeline is here). They promise to implement some migration tool, but, to be on the safe side I would prefer to create manually new descriptor wallet and move my stash from the old addresses to new ones.

Su-asa

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Quote from: _act_ on May 23, 2023, 07:15:05 AM

Out

The wallet is good to use because it is an open source, non custodian, also have a good privacy and secure features. Your mobile version can access it and it can also be accessible through desktops. The Nunchuk wallet is a good wallet because it has enough addresses.

Quote from: Crypt0Gore on February 29, 2024, 06:43:48 AM

I actually don't see any reason to change my old popular wallet for any new one, the old ones already have some reputation, if they are bad no one will use them, but it's not the same with new bitcoin wallets, especially this one with cloud backup, don't try it.

Perhaps, if your old wallet is functioning properly I think there is no need to create new one. What's important to any wallets is their security features, when the security is not good you have to change it, but if the security system is working perfectly you have to keep using it

satscraper

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Quote from: Findingnemo on February 29, 2024, 10:57:13 AM

It's Custodial wallet with recovery service

You are not obliged to use recovery service

You may use Nunchuk exclusively as a coordinator for any non-custodial software and/or hardware wallets which control you private keys.

The good thing about Nunchuk is that it's BIP129 compliant wallet. Thus, you may export BSMS file relevant to your multisig setup and import (when needed) it into any other software-based coordinator (let's say Sparrow) which supports BIP129 .

Findingnemo

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Quote from: Crypt0Gore on February 29, 2024, 06:43:48 AM

Is there any reason why you must use this wallet instead of using Electrum Bitcoin wallet? Because there are already many good options out there, the bad part about this wallet is the cloud backup, there is nothing the team can tell me, anything cloud can be compromised.

It's Custodial wallet with recovery service that you have to subscribe by paying yearly, and as enthusiast we seems that's risky but there are people who prefer convenience and trust their money with someone and think they can keep our money safe than on our own and it's just the traditional mindset which is why banking become this big when you can keep your money in your own safe.

It's good wallet but you have to pay to use the recovery service which I don't find very useful.

nakamura12

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The wallet is indeed good which is compatible with different types of wallet addresses when depositing and withdrawals. It is also a good when they also have a backup if ever you lose the wallet seed phrase since you'll be able to get it back but it is also what makes it look bad because it could also mean that they may have access to your wallet and also where the seed phrase will be stored which is in a cloud that can be hacked.

Crypt0Gore

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Is there any reason why you must use this wallet instead of using Electrum Bitcoin wallet? Because there are already many good options out there, the bad part about this wallet is the cloud backup, there is nothing the team can tell me, anything cloud can be compromised.

He who have ears let him hear, OP, if you value your BTC so much it's better you use open source BTC wallet that has no cloud backup, there are many options available, either on smartphone or computer, or even hardware wallet, don't make mistakes you can later regret.

I actually don't see any reason to change my old popular wallet for any new one, the old ones already have some reputation, if they are bad no one will use them, but it's not the same with new bitcoin wallets, especially this one with cloud backup, don't try it.

satscraper

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Pushed up this thread to not open the new one.

Last week Nunchuk wallet has been elevated to v. 1.9.29 that touched mainly bug fixes and improvements but I think it's worth to mention as this wallet is great coordinator for various multisig cosigners including my Passport 2.

To pair Passport 2 with Nunchuk one need click on QR code icon at the right side of Nunchuk's "Add a hardware key" subwindow and scan relevant QR code shown by Passport 2: Manage Account --> Connect Wallet --> scroll to Nunchuk and select it --> choose either Single-sig or Multisig

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Dunamisx

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Quote from: _act_ on May 23, 2023, 07:15:05 AM

For those of you that point to Nunchuk to be a good bitcoin what, what do you think about this? Continue reading.

I can see that some people are saying that Nunchuk bitcoin wallet is good. I tried the wallet and it is very good. It has legacy, compatible, segwit and taproot addresses. It has many good things that a bitcoin wallet should have. But when I was checking Nunchuk official website, I saw that your seed phrase can be stored on a cloud.

Quote from: https://nunchuk.io/

WORRIED ABOUT BACKUPS?
We've got you covered! Wallet and key backups are automatically encrypted and securely stored in the cloud. With our assisted recovery feature, you can regain access to your wallet with a few simple steps.

Before that can be done, I think you have to register or maybe you will also pay. I do not care to know what is what about this.

I want to try their testnet, I was taken to registration page to register.

I have worked on the wallet, it is a good wallet but this about cloud backup make the wallet look very bad.

Any form of wallet that promises you a seed backup on the cloud storage is not good for use, we should also learn from what ledger hardware wallet is turning into now, this is why we make it a necessity for every bitcoiners to always stay informed and updated on the trending event happening on bitcoin network or cryptocurrency in general, especially when it comes to the security and scam matters, we must always stayed informed, cloud storage are third party organizations and can decides to run a check on their central server over all data stored on their network, a member of their staff may also wish to engage in doing something fechtish, we cannot trust them with anything ones it comes to security and privacy affairs.

Husires

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Quote from: paid2 on May 25, 2023, 04:22:07 AM

Yes sure !

https://trezor.io/learn/a/what-is-shamir-backup

And some messages from Ledger about Trezor's identical feature :

https://twitter.com/NFTherder/status/1659804179303366657
https://twitter.com/_pgauthier/status/1658539402526638081

So did you click on any of the links above? Shamir's secret sharing (SSS) is an algorithm that securely splits your private key or seed into several parts and then you can assemble those parts back to the seed.
Instead of splitting your seed in two which is bad advice and reducing its entropic strength, it's better to use Shamir's secret sharing (SSS).

However, there is much discussion that using multi-signature addresses is better than Shamir's secret sharing (SSS).

You can find the discussions here:

https://bitcointalksearch.org/topic/xor-or-multisig-5433064
https://medium.com/bitbees/shamirs-secret-sharing-or-multisig-why-not-both-ad1be6dbccff

I searched for any details about providing a cloud service, and I did not find it, on the contrary, from the same article I found.

Quote

Never make digital copies of your recovery seed or recovery shares. Never upload it online!
What happens if I lose so many recovery shares that I can't meet the required threshold?
If you can’t meet the required threshold, your wallet will become unrecoverable. For example: if you use a 3-of-4 scheme, where 3 is the required threshold to recover the wallet, and you lose 2 or more of the recovery shares, your wallet will be unrecoverable.

Source https://trezor.io/learn/a/what-is-shamir-backup

Dave1

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Yeah, it's not safe to put your backup in a cloud, as you can see there is even a website dedicated website:

https://hackingthe.cloud/

and their github:

https://github.com/Hacking-the-Cloud/hackingthe.cloud

So it's a bad practice to be honest, much better to look for alternative wallet, plus the price is really expensive in my opinion.

paid2

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Quote from: Husires on May 25, 2023, 04:02:41 AM

Quote from: paid2 on May 23, 2023, 05:00:05 PM

Trezor and Ledger offer the same type of service, I'm not supporting it, but as long as the user has the choice to use the service or not, I don't see a problem.

Can you attach any source that Trezor provides a cloud storage service?

Yes sure !

https://trezor.io/learn/a/what-is-shamir-backup

And some messages from Ledger about Trezor's identical feature :

https://twitter.com/NFTherder/status/1659804179303366657
https://twitter.com/_pgauthier/status/1658539402526638081

Husires

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The fact that the wallet is open source does not mean that it is safe. If you are not a developer and you have reviewed the code yourself, then making the wallet open source or closed source will not change anything.
And you can't trust whether the code you download from the store is the same as the open source code.
I searched for the code and found that most of the libraries and codes were written recently without a real reviews from active developers, and there are some bugs, which suggests that there can be more.

It is better to avoid it.

Quote from: paid2 on May 23, 2023, 05:00:05 PM

Trezor and Ledger offer the same type of service, I'm not supporting it, but as long as the user has the choice to use the service or not, I don't see a problem.

Can you attach any source that Trezor provides a cloud storage service?

noorman0

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Quote from: _act_ on May 23, 2023, 07:15:05 AM

-snip-
I want to try their testnet, I was taken to registration page to register.

According to crypto security standards, any type of wallet that requires personal credentials other than a private key (or seed phrase) is actually insecure. I see they also offer a cloud key storage and recovery service, this is like a new ledger wallet feature that has recently started to lose some credibility.

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Quote from: paid2 on May 23, 2023, 05:00:05 PM

Quote

Good thing is that they are open source: https://github.com/nunchuk-io

Bad thing is that as you have said, backup is thru the clouds. And as we all know of, this is one of those 'no-no' that we as bitcoin holders shouldn't do. Have our backups online. And yes, you have to pay:

Quote

Iron hand
120 / year
The starter pack. Secure your bitcoin with multisig, one-tap signing and cloud backups.

Quote

honey badger
450 / year
The gold standard. Best-in-class multisig wallet with a built-in inheritance plan.

You are right, storing your seed phrase via a cloud is one of the worst solutions imaginable.

But as long as it is not mandatory to use this option, is it really a problem?
Trezor and Ledger offer the same type of service, I'm not supporting it, but as long as the user has the choice to use the service or not, I don't see a problem.

Exactly because I don't see any reasons to panic over this feature because it's not mandatory
And it seems to dome degree, I find the wallet and interesting one and I hope they act to what they're preaching.

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Wallet and key backups are automatically encrypted and securely stored in the cloud.

That is what I mostly avoid. I do not feel secure saving my data on the cloud. I read many cases of hijacking data on the cloud, which makes me avoid the cloud. Besides that, we must pay the subscription to the server provider to have storage to store the data.

I still feel better about saving it offline because I have full control of my wallet and can prevent any bad things. I can save it in a safe place that only I know.

But if a person wants to try their service, it is better not to leave the wallet with a big amount. Only save the amount you can afford using that wallet and keep the rest offline.

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Quote from: BIT-BENDER on May 24, 2023, 01:54:48 PM

Although some would say Nunchuk wallet saving their users private key in the cloud

A self custody wallet means full control of private keys and completely secret. The user is the only one person who has access to private key of the wallet. If a wallet that claims to be self-custody wallet but has options for users to store private keys, seeds on any third-party services, data centers, cloud storage, it's a big red flag. We don't know what will happen with third-parties and if they are bad, we will lose our keys and coins.

Quote

I had a friend who save thing in his icloud and he always thought he was totally safe till it got infiltrated by scammers, I don't know how secured the Nunchuk wallet is but I am certain nothing saved on the cloud is totally safe so that's a red flag for me.

You should give your him another warning about risk of storing data on iCloud. Tell him that don't ignore risk before it is too late and you wish him the best and hope that he won't come to tell you about loss in future.

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Although some would say Nunchuk wallet saving their users private key in the cloud can come in handy when they lost the private key or something in that nature occurs. I have not used Nunchuk wallet yet I am still a more reverse Bitcoin enthusiast and I haven't explored any other wallet since I get all I need from electrum wallet but that said I would check Nunchuk wallet for myself.

I had a friend who save thing in his icloud and he always thought he was totally safe till it got infiltrated by scammers, I don't know how secured the Nunchuk wallet is but I am certain nothing saved on the cloud is totally safe so that's a red flag for me.

Z390

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Any crypto wallet company or organization that sees recovery seed or private key backup through cloud as normal thing are not supposed to create a crypto wallet, they are better off doing something else, because crypto wallet developers should be the ones to understand that cloud backup is against the ways of keeping Bitcoin through decentralization.

So I will just keep using Electrum, better protection is better than multiple features, there is no reason to ditch your popular crypto wallet for a new crypto wallet.

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Quote from: Sarah Azhari on May 23, 2023, 07:01:04 PM

Quote from: tabas on May 23, 2023, 05:36:57 PM

For a beginner when they see such feature that your seeds are automatically stored on the cloud, sounds cool. But of course, as one becomes more educated on this market and even with the smallest technical knowledge about wallets and private keys, this isn't cool.

A Wallet like this will be of particular concern to hackers, they will definitely keep an eye on the Nunchuk wallet, especially a gap (cloud) which the hacker can be entering it freely. Many beginners today want something practical and don't want to be complicated to keep the seed and the private key, even sometimes they know if more complicated to keep the seed offline is safer, but they ignored it. This situation is utilized by the developer to make it practical and make a new environment by cloud.

And, certainly, a market like this will keep growing in the future, but on the other side, we will continue also in the future to read a new thread about: Help my wallet being hacked in the cloud.

That's the problem with many newbies today. If they see that something complicated and technical, they don't want to learn about it. As long as it's too easy and comfortable to them, they think that there's no need to be worried with. But they're wrong on that, until they see the problems that lies with these wallets that have been backing up the seeds on the cloud although it's just an opt-in, I still don't like a wallet to have this feature. They're breaking the purpose of what seeds and private keys are for and it should have been kept only by the owner, not with a cloud storage or any other third party.

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