Topic: Safest wallet ? - page 2. (Read 1137 times)

For email confirmation I guess you are referring to an online wallet or an exchange maybe, I know Poloniex exchange has that functionality.
Blockchain.info and coinbase are also good options if you want online wallets.
But I wouldn't recommend using an online wallets, its better to go with a desktop/mobile option or even hardware wallet like trezor.
For desktop electrum is the most supported and for mobile, mycelium has the most audience support.

I always don't like the term "Wallet", because when in fact it is only an access to your wallet. Remember, your coins are actually stored in the blockchain. What you have, whether Software Wallet in your PC, Web Wallet, Hardware Wallet, etc, is only used as an interface for accessing to see how much value this 'Wallet Address' currently have.

So, depending on what type of Secret Key that software uses, it can be restored to another software which uses the same protocol.

Ledger, for example, uses BIP39, so if you've lost your Ledger, you can use the same Secret passphrase to restore another Ledger, or another software which uses BIP39m like Mycelium (according to Ledger's official website). This also means that if someone saw your secret passphrases then they have access to your wallet as well.

Web-based Wallet - the web owner has everything. They are holding the keys. The address does not even belong to you. So lets say that the web wallet flies, then you have no chance of getting anything back. Additionally, 2FA is only one level of protection to your account only, which if the hacker hacks into the web, then 2FA is meaning less, since the hacker gain control of every thing and simply can disable the 2FA or bypass it.

Exchange Site - don't store anything here for long... just only when to make the trade. Should not be used as a permanent wallet.

Software Wallet (in your PC) ie, Exodus, Jaxx - again, a little more safer than the Web-based Wallet I think. It seems like you have the control, but you actually don't.... (I could be wrong)

That being said, if use properly, I think that Hardware Wallet is the safest bet. Like not buying from someone else other than trusted source (official retailer, etc), don't lose your keys, don't let other people see your keys, avoid connecting to other people's PC, etc. I personally have a spare old Macbook which is installed with Ubuntu, and it is only used for this purpose only, not even opening any emails or open any other website.

Why? If you have encrypted wallet with good password, cloud service provider will never access your bitcoins.
However, if you keep wallet on your PC HDD/SSD or other media, you can lose your bitcoins forever if some force majeure event occurs (fire, floods, explosion, police raid where your PC seized etc).

They are vulnerable to the same force majeure events mentioned in previous quote (if you haven't made a backup in the cloud).

No one wallet could be better then Hardware. IMHO (In my Humble opinion)

best Bitcoin hardware wallets are:

• Ledger Nano S
• TREZOR
• KeepKey

Don’t worry about your hardware wallet getting stolen, lost or damaged either; so long as you create a secret backup code, you can always retrieve your bitcoins.

Why are hardware wallets good?

• Easiest way to securely store bitcoins
• Easy to backup and secure
• Less margin for error; setup is easy even for less technical users

Why are hardware wallets bad?

• They're not free!

Actually the safest wallet to keep your bitcoins is actually a hardware wallet (Cold storage). Hardware wallets are actually small devices that connect to the internet just to enact transactions only. They are very secure as they are often kept off the internet system and thereby not hackable .Examples will be Trezor T or Legner Nano S. I personally prefer Legner Nano S.

For a online wallet ,i personally prefer Jaxx as it allows me to keep my private keys to myself. However , such wallets are prone to hacking as there are based online. So it will be advisable to scan your computer for malware every now and then.

For exchanged linked wallet, Coinbase is a good wallet then have 2FA protection ,Email protection and IP address notification.

I would disagree. Cold wallet setups differ greatly. Everything that is not usually connected to the internet is considered as one, but the security of those setups is not equal.


Completely wrong.

Shitpost.

Web, desktop, cold wallets are all the same not secured as long as if  it is not being take good care. but basing here on this forum we always have an update about Bitcoin core or electrum though to install it you have to follow some codes and I believe it is good enough as storage of your crypto. Maybe you can ask admin theymos directly of what can he suggest the best wallet since admin theymos own a lot of crypto.

Price must be always right.

The security of a hardware wallet is about the same as a cold wallet. Because the hardware wallet is essentially a cold wallet category.

From the code perspective, these are closed source wallet even sometimes it is better to open source of cold purse, because there is no outside programmers to help review code, in the past some hardware wallet has had one or two lower holes.

No, that is not correct. In case of hardware failure or similar, you can:
a) Import the seed to another wallet which is compatible with the HW's seed.
b) Use derivation tools to get your private keys of addresses that hold funds. Import these keys elsewhere and you have access.

In the case that you've described, these wallets would have a major downside if you couldn't do anything if you lost/damaged them. That is simply not the case.

Do not use web wallets. Yet again, horrible advice here.

No. Never upload wallets to the cloud. That's a horrible idea.

I suggest to use Electrum, encrypt wallet's file with good password and upload it into the cloud (preferably on multiple services).
To eliminate malware risk, especially for large transactions, burn DVD with LinuxMint and boot from it in LiveCD mode, download Electrum software and your wallet from the cloud, make a transaction and restart your PC.

Here is a nice sticky from the beginner and help section that should help you decide what wallet is right for you.

https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151

Op didn't specify the wallet for which particular coins is looking for, although i will answer based on the one am currently using that require email confirmation which is Blockchian info that is mainly use for Bitcoin, Bitcoin Cash and Ethereum.

The safest option is a hardware wallet which you keep offline, in a secure place. That way there is no risk that your account can be hacked, your keys stolen and your bitcoin whisked away. But, if you lose the wallet, your bitcoin are gone, unless you have created a clone and/or kept reliable backups of the keys.

Do you mean Two Factor Authentication? It's not possible and probably will never be as MEW is completely client-side. In the end, this makes MEW even safer.

Here is a good explanation on why: https://myetherwallet.github.io/knowledge-base/security/turning-of-2fa-on-myetherwallet.html

Somebody knows about MyEtherWallet? There is not TFA and I worry about it

Web wallets or any wallet that you have to login with email/username and password using websites are not a safe. Desktop wallet is safe but it can be vulnerable to malware and can steal any information on your computer if its connected to the internet. But you can do an offline transaction with some desktop wallet using electrum so it would be the safest way of using desktop but its time consuming.

But Hardware wallets are the safest wallet, it can't be infected with malware even you inject it to an infected computer, so you're totally safe, but the downside of using it is you can't use to send if the HW lost, so you have to buy a HW again and recover your funds using your 24 seed. Or you can import your seed to any trusted wallet so you can use it in sending but this is not recommended the wallet might be compromised.

I would say it is most likely Bitcoin Core. At least when it comes to hot wallets.

Website wallets are a definite no. They aren't really wallets in the first place, they are banks.
If someone controls your private keys, it is not your Bitcoin.

Online wallets are not at all a safe one to find have the funds at all. Especially people having fund on Blockchain, MEW and trading site wallets are hacked many times but the hackers.

Please follow these if you are using the blockchain wallet.

Don't connect the VPN plug in or VPN software in computer while you looking into blockchain.info URL.
Always use the URL perfectly in the address bar.
Don't surf using Google search engine to log in to wallet.
Avoid saving the wallet identifier and password in the any computer.

if your URL turns as blockchain.onion Don't log into that

Secured hardware wallets are: Trezor and LedgerNano s
Best Desktop wallets: Bitcoincore, Multibit and Electrum


Keep safe your private key and wallet.dat file to avoid the hacking attacks.

This recomended wallet for you :
1: Paper wallet or other cold storage. A paper wallet is simply a document that contains all the information you need to generate the bitcoin private keys you need.
2: Ledger or Trezor (hardware wallets/dongles). These dongles both make the best bitcoin wallet list because of their safety and mobility. Plus, they're good enough for professional investors.
3: Electrum (software wallet). Electrum is a popular, free storage option in the bitcoin community, and is one of the most, if not the most, well-respected desktop storage apps out there.
4: Blockchain.info (online wallet). Exchanges are ripe pickings for ambitious hackers.
5: Coinbase (online exchange). In here you not only can buy, sell, exchange and trade bitcoin on Coinbase, but you can store your bitcoin in a wallet there, too.

I recommend using a paper wallet so you have a physical backup of the private key. Thanks

Please don't use Blockchain.info. Their software is incredibly flawed and buggy. People have lost coins because of their incompetence.
Blockchain.info's hacks were certainly not a result of phishing or anything similar. If anything, people should just downright stop using any online wallets. They have way too much attack vectors as compared to even a desktop wallet.

Paper wallets are technically not wallets since you just store your private keys on it but you can't spend it without using an actual wallet. And that actual wallet is what makes a difference between getting hacked and not.