Topic: Securing your Cryptos (Read 258 times)

You make a solid point there... But i guess it would be the same as taking out an insurance when you keep gold, silver, platinum,... at home. Nothing is stopping you from selling a couple of insured gold bars to a crooked PM blacksmith and afterwards claim they were stolen for insurance purposes. Or burning your house down to make a false insurance claim.


Sure... now you only have to find out which addresses are mine, wait untill i have hundreds of BTC, find out my identity, break into my house, rob 3 banks and brute force my bip38 encryption to get your hands on my BTC... Then make sure you sweep all my addresses before i realise you did this, and afterwards make sure you mix those coins so LE doesn't catch you. Good luck...

lol, very detail bro and now I know all your secret and all your action when you have 1 mil $ in bitcoin

If I have that $1M worth of crypto's for sure I can avail the security that I've wanted for the wealth that I have stored in crypto's.

I would purchase a nano ledger s that can keep those crypto's that I have. And those recovery words to make it secure, I would secure my whole room, my bedroom.

I will write down to a bond paper those words and stick it behind the door of my room, isn't it brilliant? And as someone that wants to be secure, I won't allow someone to enter my room without my permission.

And the risk of the house being burnt down, then you should stick it to your wallet(fiat wallet) where you must jumble the words and write it again on a piece of paper.

I think for security it is best that there are different walkets for every coin. that way if kne can and should be compromised the other wallets still have a fighting chance of not getting hacked or discovered outright. Which is for me a much better option

A problem we all wish we had.... Firstly never keep it on the exchange. I can speak from experience, i had 100 ETH on the Gatecoin exchange when it got hacked , lost the lot.

Definitely want to make sure you have a number cold of storage wallet such as Nano Ledger and trezor. Split you coins across them and then store them in multiple safe deposit boxes .

Encrypt your seed phrases in parts and then lock them in multiple encryption vaults. This way no one vault contains the full phrase. Store them in multiple locations.

I think it would be a Lot of work to get to them if you need it in a hurry!!!

This Guy provides some great info on privacy and securing your files https://www.privacytools.io/

There are many ways to go about it, but none of them is 100% safe.

What I believe is best - and that works for you only if you absolutely trust yourself and your memory - is to memorize private key and keep it in your head - only secure place where nobody else can access it.

Many memory techniques can help you achieve that, I would highly recommend Vedic math memory technique.

Did you read the thread? Because hardware wallet is not even the question, where do you keep your seed safe is the question.



ps, nah i am not rich yet unfortunately (
but hopefully in next 3 years

I believe hardware wallet is the safest option to keep that much high amount of crypto-currency. Private key wallet like MEW etc are also considered to be safe.

Could such a thing even exist?  What would stop you from faking a break in, moving coins to another wallet, and making a claim?

User since 2013. No signature campaign. No spamming post: I bet you have more than 3 million $  

Then, buy 1 hardware wallet (ok ledger nano) for each 150K you have.

Check the Locks
 It’s important, when using a web wallet, to ensure that there is an SSL security mark in the address window of your web browser. This stands for secure site seal, and ensures that your browsing is encrypted. The website should begin with HTTPS, rather than HTTP and you should notice a lock sign next to the URL. Again, security is critical when dealing with digital wallets.

Bonus Tip:
Use a non-public email address for all your crypto accounts including exchanges. For that mail, set up a two factor verification. As always, make up a strong password (including some unique characters).

Double Check the Address

 It’s important to double check the address that you send any payment transaction to. There are malicious programs that can edit a ‘copy and paste’ procedure in order to paste a different address, the new address belongs to an attacker. It’s usually best to send a micro payment as a verification, and then send the larger payment to the verified address.

Secure Your Wallets

 First, it is wise to find a wallet with security measures beyond the normal wallet providers. Some wallets are now using encryption to protect the private keys. Companies like Corion have created a code package that encrypts the key data and protects it from insider hacking.

The above company offers a variety of services including a wallet and an exchange, all of which use encryption for private keys. Corion stands for capital online reward incentive optimized network – meaning that the company incentivizes consumers to use the platform by giving them rewards for activity. Corion has also shared the code for their Safety Look Solution so that other wallet providers can offer the same level of security. The details are available on their GitHub here.

This sounds genius:
Buy 3 ledger nano s.
Make one seed and recreate also on the other 2 ledgers.
Destroy the seed.
Now you have 3 devices. Protected by your pin.
Use one ledger at home, have the other 2 at different places (bank safe, friends). Or better: have pin in the bank safe.

Gets stolen: No biggie, you have 2 other ones left. 8number-pin is uncrackable.
Perhaps buy another new one, create new seed, make again so you have 3 ledgers with same seed.

House burns down: No biggi, you have 2 others left, same as above.

https://standardcrypto.wordpress.com/2016/01/19/if-you-cant-provision-a-good-hiding-place-for-your-hardware-wallet-seed-phrase-maybe-you-dont-need-to-back-it-up-in-the-first-place-use-multiple-wallets-plus-pin-instead/

In addition with that, and this is what I've made is by changing it into fiat money and stored it on the reliable banks. Because we don't have a 100% assurance that our money keeping through online are fully secured even it have a strong keys and password. We are not perfect and there is possibilities that we've got fall into pishing sites.

insured services might be another option in case of hacks. but standard coverage usually only $500k. and it might take years to get funds back, depends on the situation. though all better than zero saved funds in case of stolen hardware/paper wallets

I've found a lot of good and useful advises in this thread. Thanks to everybody who write his opinion here.
Of course I have to earn my $1 billion at first
But I will use this advises.

The Best Plan i came up so far:

Use a ledger nano s or similar for daily use.

Most important: Securing the seed


2 parts of the seed, A and B: (Multiple copies, but always only a part of the seed)
1.   A: rented Safe at a bank (in form of a scribble-diary, somewhere in there but pretty obvious)
2.   A: in ‘Diary’ in my cellar (many people live in the house, everybody has his little cellar)
3.   A: In my personal letterbox (ground floor in my apartment building, I have a key for it) -> also: my 2nd ledger is there
4.   B: In my diary at my home
5.   B: Hidden safe in my room (in a scribble-diary)
6.   B: At my dad’s place, with important documents, not totally clear text but pretty obvious
7.   B: At my mum’s documents too
8.   B: At my brother’s place, with important documents, not totally clear text but pretty obvious
9.   B: At my other brother’s place, with important documents, not totally clear text but pretty obvious
10.   B: At my other brother’s place, with important documents, not totally clear text but pretty obvious



Case: Ledger gets broken
I just have the seed easily reachable – diary in room B and personal letterbox A

Case: Theft – they steal safe B and diary B and ledger
They only have 1 part.
But: I have to call my family to get B now, and depend on them to having kept it safe for years -> that’s why I give it to 5 persons, cause this is one of my greatest worries / point of failures

Case: Bank gets robbed / burns down
They only have one part of the seed, so all is good

Case: My house – including the cellar – burns down, also including the ground floor
This is extremely unlikely. I mean it’s extremely unlikely the whole building gets burnt to the ground. 3 apartments perhaps, till the firemen come.
But I have A at rented Safe and B at one of my relatives

Case: I get tortured
Game over. Better not tell anyone I have cryptos. Oh, already did it.
I think there is some feature of ledger.. something with a fake second pin. I think I have to look it up.

Case: family turns against me
They only have one part

Case: I die
My brother and dad have one part of the seed, one of them hopefully remembers;
other part is in the safe of the bank, it will be opened to relatives, having written words there will be another big clue




QUESTIONS:
- Do you have a Security Strategy? How do you secure your bitcoins / private keys / seeds?
- What do you think about the strategy? What did I miss? What is bad about it? (or good)
Any Cases I missed?
- I am cheap, I don’t wanna pay 60 euros per year for safe, but well..
2 safes at different banks, one with A, one with B would be pretty secure I guess, and perhaps better than the ‘multiple relatives’ option
- Can I only recreate the seed with another ledger, or with any other wallet? I guess only with another ledger
- Where to keep all the paperwallets of the coins that ledger does not support? I guess in the bank safe, hm.. perhaps also in the diary in room
- Links to good threads or videos, gurus, blog articles.. very welcome, I got not too lucky so far in my search

This usb cable from ledger...

Is it just a normal usb cable?
Or does one have to use their special usb cable?
Thanks

https://www.ledgerwallet.com/products/ledger-otg-kit

edit: ok, i guess it's just a normal usb cable, googled it
Weird they sell it, but well

edit: ah, i am stupid, an usb cable is included with ledger nano anyway

This is a good thread. I was thinking what's a good storage too in case I've reached a certain amount that's worth a fortune  The only thing I know recently is storing it in a cold storage device so most probably I'd buy different devices and divide the funds and store it. I'll be following this thread for more ideas too.