Nunchuk wallet - page 2. | Bitcointalksearch.org

SquirrelJulietGarden

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

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.

Hackers will spend more efforts to hack into a system because they know that if they succeed, they will get big data and big money. Oppositely if they hack a person, what they get will be smaller if they don't know what that person owns. I am not discussing about targeting like a millionaire or a billionaire, just a random person and reward should be small even if you successfully hack into an individual device or account.

Because of potential big things from a system hack, hackers will aim at systems like cloud storage, a corporate data base and similar big systems. I agree that storing sensitive personal information, wallet seed, wallet passwords in cloud is bad. It is worse when it is done by a big system, a wallet and I don't advice anyone to do this individually.

Using Nunchuk wallet and accept that risk, it is your choice. I don't choose it because I have better wallets without risk from cloud storage, backkup. I am fully responsible for my keys, my backups and my coins. I am fully aware that if I lose my keys, my backups, I will lose my coins but I don't want to lose my coins because I trust a third party and it fails to serve me.

Sarah Azhari

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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.

sheenshane

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Seems this wallet is new to my ears, I never heard of it before.

I went to their Twitter page seems this wallet is good and read different articles regarding them due to my confusion about them. But I never see that they stored their seed phrase on the cloud, if that is true, this is generally considered risky and not recommended.

IMO, there are many wallets that you'll use that has been proven and tested when it comes to security, if I will use this wallet maybe only a small amount for experience purpose only.

Potato Chips

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Personally, I do not think highly of wallets who encourages and utilizes (for profits) cloud backups because it is either you don't get the weight of it or you're taking advantage of people who do not know any better.

There are a lot of bitcoin wallets out there which essentially gives us room to be picky. Therefore when it comes to reputation, I'd also consider how one does their business or should I say their ethics? especially if I wanna prevent ledger-styled surprises lol.

In short, my take is, find an alternative first for your use case. Now, if you must use this, keep the amount small.

tabas

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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.
I am now worried that after Ledger has given the opt-in recover service, other wallet services might imitate that feature of theirs and that's going be seen for every wallet that we use. But not at least for those wallets like Electrum, Wasabi and others that have the same privacy oriented advocacy.

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

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.

For now it might not be a mandatory choice but we don't know what lies in the future and they can change these settings and rules.

paid2

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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.

Yaunfitda

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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.

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.

_act_

legendary

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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.

Topic: Nunchuk wallet - page 2. (Read 335 times)