Sending and receiving coins and tokens for newbies

boyptc

hero member

Activity: 3024

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★Bitvest.io★ Play Plinko or Invest!

Quote from: finaleshot2016 on August 04, 2019, 11:19:17 AM

When I'm checking the address, I only check the first letter and the last letter since our address is very unique.

Same strategy as mine, checking the first few and last characters and I'm good.

Also be careful sending BTC to an LTC address, there's a format for LTC wallet that starts with '3' and many had mistakenly sent their BTC to it.

stompix

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Blackjack.fun

Quote from: Bitlover10 on August 03, 2019, 09:02:08 PM

1- Never Type Address for sending or receiving coins because then their are a lot of chance to make wrong address. Address is the combination of different types of latters and numbers so when you are going to type it its a higher chance of doing mistakes. It is more secure to copy and paste the address instead of typing.

Actually no, the chances are pretty slim.

Quote from: DeathAndTaxes on September 05, 2012, 10:20:16 AM

2) Addresses have a 32 bit checksum. 4,294,967,295 out of 4,294,967,296 random addresses will just result in an invalid address. Your client decodes and checks the address and if it is invalid it will not create the transaction.

Quote from: hd49728 on August 03, 2019, 07:44:00 PM

Checking all characters/digits of address requires less than a minute, so I think people should check them all after adopting and pasting.

Yeah,in theory, but the human brain doesn't like task like this, just as it sucks at randomization it loves connections and mapping, sooner or later when comparing two addresses you will unconsciously skip some of the letters also because a pattern will look familiar.

o_e_l_e_o

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Quote from: ?? on ??

There is nothing wrong with checking all the characters but most people won't find anything even if there is a mistake on the address that is why we need to secured device which is completely safe from keyloggers and clipboard bugs which make the copy paste accurately.

No such device exists. Hardware wallets are not immune, since they only sign the transaction. The transaction is generated on a computer or phone, which could easily be infected by malware. The hardware wallet will quite happily sign a malicious transaction if you aren't paying attention and just confirm it without properly checking the address. Similarly, airgapped machines are not immune since you generally use a watch only wallet on a live machine to generate the transaction, which again can be susceptible to malware, before transferring to your airgapped machine for signing.

The only way to be 100% safe from clipboard malware is for the user to take proper care and double check everything before making the transaction.

finaleshot2016

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Degen in the Space

Quote from: bitmover on August 03, 2019, 08:54:28 PM

Quote from: hd49728 on August 03, 2019, 07:44:00 PM

Why not check all characters/ digits of address? I think it is safer than only check first and last ones? Or are there some technical reasons for this?
Checking all characters/digits of address requires less than a minute, so I think people should check them all after adopting and pasting.

It is impossible for a hacker to generate a private key which only changes a few digits of your public address.

Even vanity generators are able only to match a few characters together.

So you only need to check some characters, not all of them.

Even if it takes only a minute, it is not necessary imo.

When I'm checking the address, I only check the first letter and the last letter since our address is very unique. It's quite obvious if there's a change of letters/numbers in your address. There's a little probability of having a similar BTC address in here, at least 10 or more digits are different from each other.

If you always using your BTC address for having a daily transaction, you can memorize it and by checking you can notice anything if it's wrong in just a second. Cheesy

o_e_l_e_o

legendary

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Quote from: hd49728 on August 04, 2019, 01:16:14 AM

I don't like QR codes, because they are more vulnerable than keys. For example, whenever I activate my 2FA, I always write down my 2FA codes, and don't save QR codes.

QR codes are just a way of storing information to make it easily machine readable. They are no more or less vulnerable than any other simple way of storing information. QR codes for 2FA are completely different to QR codes for transactions.

By scanning a QR code, the address (and amount requested, if the receiver has included that data within the code they generated for you) will be auto-populated in to your wallet. As sheenshane says, it serves as an extra protection against clipboard malware since you aren't copying/pasting any data, but as always, you should double check both address and amount before sending.

hd49728

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Not your keys, not your coins!

I don't like QR codes, because they are more vulnerable than keys. For example, whenever I activate my 2FA, I always write down my 2FA codes, and don't save QR codes. Maybe, I mainly want to give attackers, if they find me, and my wallet/2FA backups; they have to play around and maybe lost directions before being able to hack my money. QR codes might give them more convenience to do their works.

Quote from: sheenshane on August 03, 2019, 11:56:52 PM

Well said mate, but here is my addition that might not lead to hacking if the device infected by malware copy/paste.
If there is QR code for that address you can simply scan for sending the address, no need copypasting of wallet address just tap the QR code.
credit on google image

Well explanation. I did not know about that, and from your explanation, I will search to find out more about it. Crypto always have loads of things to learn, everyday.

Quote from: bitmover on August 03, 2019, 08:54:28 PM

Quote from: hd49728 on August 03, 2019, 07:44:00 PM

Why not check all characters/ digits of address? I think it is safer than only check first and last ones? Or are there some technical reasons for this?
Checking all characters/digits of address requires less than a minute, so I think people should check them all after adopting and pasting.

It is impossible for a hacker to generate a private key which only changes a few digits of your public address.

Even vanity generators are able only to match a few characters together.

So you only need to check some characters, not all of them.

Even if it takes only a minute, it is not necessary imo.

sheenshane

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Quote from: Bitlover10 on August 03, 2019, 09:02:08 PM

Their are few points you could follow before sending coins or tokens into new address :-

1- Never Type Address for sending or receiving coins because then their are a lot of chance to make wrong address. Address is the combination of different types of latters and numbers so when you are going to type it its a higher chance of doing mistakes. It is more secure to copy and paste the address instead of typing.
2- After copy paste always check first and last 4 or 5 digits to make sure your address is correct.
3- Before clicking on sending button you could check overall data once more. Like sending amount, address, fees etc.

Well said mate, but here is my addition that might not lead to hacking if the device infected by malware copy/paste.
If there is QR code for that address you can simply scan for sending the address, no need copypasting of wallet address just tap the QR code.

Here is an example, but sometimes addresses didn't have QR code.

credit on google image

Bitlover10

full member

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Love is all

Their are few points you could follow before sending coins or tokens into new address :-

1- Never Type Address for sending or receiving coins because then their are a lot of chance to make wrong address. Address is the combination of different types of latters and numbers so when you are going to type it its a higher chance of doing mistakes. It is more secure to copy and paste the address instead of typing.
2- After copy paste always check first and last 4 or 5 digits to make sure your address is correct.
3- Before clicking on sending button you could check overall data once more. Like sending amount, address, fees etc.

bitmover

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bitcoindata.science

Quote from: hd49728 on August 03, 2019, 07:44:00 PM

Why not check all characters/ digits of address? I think it is safer than only check first and last ones? Or are there some technical reasons for this?
Checking all characters/digits of address requires less than a minute, so I think people should check them all after adopting and pasting.

It is impossible for a hacker to generate a private key which only changes a few digits of your public address.

Even vanity generators are able only to match a few characters together.

So you only need to check some characters, not all of them.

Even if it takes only a minute, it is not necessary imo.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: bitmover on August 02, 2019, 06:18:52 PM

Just Ctrl c ctrl v the address, never try to type it.

And check he first and last digits, as there are some malware that can access your clipboard

Why not check all characters/ digits of address? I think it is safer than only check first and last ones? Or are there some technical reasons for this?
Checking all characters/digits of address requires less than a minute, so I think people should check them all after adopting and pasting.

bitmover

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Activity: 2352

Merit: 6089

bitcoindata.science

Just Ctrl c ctrl v the address, never try to type it.

And check he first and last digits, as there are some malware that can access your clipboard

Raymondavid47

jr. member

Activity: 546

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All newbies should always remember to double check wallet address before sending tokens to that address. Just one letter or number can cause loss of funds. So we should be super careful
And for special coins like seller( Xlm) remember to include the memo if not your coins will be lost forever.

Topic: Sending and receiving coins and tokens for newbies (Read 295 times)