Topic: Pros and cons of Wallet.dat and Priv Keys - page 2. (Read 590 times)
I don't think it matters as long as they do have a method of backup and you use it. I'd you don't use it there is no point of having it to begin with. .wallet files are nice and was to back up. Private key can be kept anywhere or even printed out for safe keeping.
hard disk drive more secure than paper? ok, then use glass instead or a metal plate.
Well they probably both are respectably susceptible to damage in their own ways equally. You cant destroy a paper wallet by dropping it but it could quickly be ripped or chewed up. If some one was able to get a photo of your paper wallet it may be recoverable. In a hard ware wallet you can encrypt it and go a step further and even mask your data in random files.
I'm afraid I still don't have a favourite. With private keys, or seeds, I don't like the idea that I could somehow lose them. I use electrum, and developed a sort of mnemonic jingle to try to memorise my seed. But I realise if I don't practise every few weeks I forget it anyway haha.
With wallet.dat, I worry they'll either get corrupted or somehow become incompatible with a future upgrade. And now with SegWit, I'm still not sure how exactly I will want to switch addresses, as may require new set of seed/privkey/dat. Silly reason I guess but because of that still sitting on my legacy addresses.
With wallet.dat, I worry they'll either get corrupted or somehow become incompatible with a future upgrade. And now with SegWit, I'm still not sure how exactly I will want to switch addresses, as may require new set of seed/privkey/dat. Silly reason I guess but because of that still sitting on my legacy addresses.
hard disk drive more secure than paper? ok, then use glass instead or a metal plate.
simple not encrypted paper wallet generated on offline computer printed and stored at safe place. thats the best for me. not sure if others like this way
Not sure I'd particularly follow that idea. Paper can be easily destroyed. Place data on a hard drive are a read-locked SD card (bit more secure than just paper)
What is everyone's preferred method of backing up your wallet and why?
The new bitcoin core wallet.dat backup is very good as it has the HD part inside of it you you only need one backup of the wallet to get all of your addresses back (considering previously, you had to back it up every ~100 addresses/transactions, it's a much better system).
simple not encrypted paper wallet generated on offline computer printed and stored at safe place. thats the best for me. not sure if others like this way
What is everyone's preferred method of backing up your wallet and why?
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