Topic: Safest bitcoin wallet? - page 3. (Read 6794 times)
an Offline wallet?
I can say that you should not use Mt.Gox or BIPS
If Electrum doesn't need the local bitcoin chain, doesn't that mean it needs to access the server everytime you use it? Therefore your IP could be logged at any time? So while it can be reasonably secure your anonymity is compromised?
Personally I like to use Armory for my everyday go to wallet, but self-made offline cold storage is the way to go.
Offline-generated paper wallet is the gold standard of wallet safety. Forget any electronic solutions. You still need multiple paper copies, of course.
Offline-generated it good, but there's no difference between a "paper" wallet and a cold storage electronic wallet (e.g. Armory, Electrum, BIP32) with a paper backup, or is there? At some point, you have to hand your private keys over to a computing device (an offline computer or a hardware wallet) to do the EC math (unless you do it yourself on paper, good luck with that!
)By paper wallet I mean paper backup
Offline-generated paper wallet is the gold standard of wallet safety. Forget any electronic solutions. You still need multiple paper copies, of course.
Offline-generated it good, but there's no difference between a "paper" wallet and a cold storage electronic wallet (e.g. Armory, Electrum, BIP32) with a paper backup, or is there? At some point, you have to hand your private keys over to a computing device (an offline computer or a hardware wallet) to do the EC math (unless you do it yourself on paper, good luck with that!
)
Offline-generated paper wallet is the gold standard of wallet safety. Forget any electronic solutions. You still need multiple paper copies, of course.
What happens if your hard-drive crashes when stored offline? Wouldn't it be better to be secretly stored in an online wallet? The chances of your hard-drive crashing is greater than some hacker to come along and hack your online wallet. Correct me if I'm wrong.
Both Armory and Electrum offer (in fact they both strongly suggest) that you make a paper backup, and store that piece of paper alongside your other important documents (e.g. in a safety deposit box). If you follow this advice, either of those two offer excellent safety from hardware failures. This goes for any deterministic or BIP32 wallet.
Cold storage (as already discussed) and hardware wallets (e.g. Trezor) are the safest options to protect against malware. For some people, cold storage is too difficult/inconvenient. For these cases, you have to make a judgement call: who do you trust more: do you trust yourself, and your ability to keep your computer clean from malware, or do you trust a third party to not run off with your BTC? Many people would probably choose the first, but there are some who would choose the second. Online wallets with per-transaction multifactor authentication (GreenAddress.it, BitGo.com) offer a pretty good (though not perfect) anti-malware alternative for these individuals.
To anyone who chooses to keep an online or a (hot storage) desktop wallet, I'd strongly recommend that you only keep around as much Bitcoin as you can afford to lose.
What happens if your hard-drive crashes when stored offline? Wouldn't it be better to be secretly stored in an online wallet? The chances of your hard-drive crashing is greater than some hacker to come along and hack your online wallet. Correct me if I'm wrong.
Bitcoin-qt vs bitcoind? Or is there anything more secure?
Something that provides easy to use offline wallet functionality, armory or electrum.I think armory is more secure, what do you think?
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
Not downloading the blockchain is like the biggest feature, +it doesn't have to be online.
there are tricks for speeding up the blockchain syncing using bittorent and a dump of the blockchain: look up blockchain bootstrapping. Lots of tutorials available.
Still, some people are not happy to have 16GB+ data on their HD.
And for some people, downloading 16 GB takes loving ages.
Yup. And not just a day or two, but like half a month or more. Crappy internet speed. So I use Electrum.
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
Not downloading the blockchain is like the biggest feature, +it doesn't have to be online.
there are tricks for speeding up the blockchain syncing using bittorent and a dump of the blockchain: look up blockchain bootstrapping. Lots of tutorials available.
Still, some people are not happy to have 16GB+ data on their HD.
And for some people, downloading 16 GB takes loving ages.
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
Not downloading the blockchain is like the biggest feature, +it doesn't have to be online.
there are tricks for speeding up the blockchain syncing using bittorent and a dump of the blockchain: look up blockchain bootstrapping. Lots of tutorials available.
Still, some people are not happy to have 16GB+ data on their HD.
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
Not downloading the blockchain is like the biggest feature, +it doesn't have to be online.
there are tricks for speeding up the blockchain syncing using bittorent and a dump of the blockchain: look up blockchain bootstrapping. Lots of tutorials available.
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
What do you mean by "it uses other networks"
wish I knew
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
Not downloading the blockchain is like the biggest feature, +it doesn't have to be online.
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
What do you mean by "it uses other networks"
Electrum. Or a paper wallet for long term storage.
just got electrum, but could You explain why is it safer? It uses other networks, which might be compromised, can they?
Electrum. Or a paper wallet for long term storage.
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