Topic: The SAFest WALLET? (Read 2663 times)

Can I tell you if you don't mind? Don't put your money in an address where you don't have access to the private key.

   ~~MZ~~

Hi

Let me tell you one thing don't put your whole btc money in a single wallet. I recommend you to use coinbase, btc-e to store your money in these two different wallets.

Thanks

Regards
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There are some cheaper hardware wallets now to compete with Trezor. For example, the ledger wallet is selling at a price of 29 Euros. Hopefully the price of hardware wallets could come further down when more and more competitors appear.

There are some cheaper hardware wallets now to compete with Trezor. For example, the ledger wallet is selling at a price of 29 Euros. Hopefully the price of hardware wallets could come further down when more and more competitors appear.

Safest wallet is definitely a hardware wallet which is opensourced and secure from virus attacks, for example, trezor. The disadvantage is that it is very expensive, $100 per. For normal uses, a paper wallet/offline raspberry pi would be secure enough if you sign transactions offline.

While that is true that nobody will steal your coins from the outside. But there is always a possibility of your hardware failure. After all it can happen sometime. I guess your method is good and if you want maximum security you should add paper copy wallet to it.

Make sure you have 2 PC's.

Install offline armory on an offline PC, never connect it to the internet, in fact take out the network adapter form it, to not even make it available to connect to it from wireless.

Then install offline armory on the offline PC, and use it as cold storage, and use a formatted USB stick to sign the transactions on the offline PC.

The safest method I know, nobody can steal your coins.

"Safe" is a very interesting word.  It really depends on what you are trying to protect yourself from.

In many cases it might be "safest" to trust someone else to secure your bitcoins for you if you aren't capable of taking the proper steps to securing your own bitcoins.  In that case, the "safest" might be something like Coinbase.  They will handle the process of storing multiple backups in secure locations and insuring their assets.  Unfortunately, since they have full control of the bitcoins, there is always the possibility that they run off with them or are hacked.

If you are going to store your own bitcoins, then there are a few risks you need to be aware of and to protect yourself from:

• Risk that your wallet will be lost or destroyed (fire, flood, earthquake, tornado, lightning, volcano, tsunami, hurricane, mudslide, vehicle crash, hard drive head crash, etc).
• Risk that a hacker will access your wallet through the internet
• Risk that a stranger will physically access your wallet (breaking&entering, physical theft, etc)
• Risk that a friend or family member will access your wallet
• Risk that the a government agency will seize your wallet
• Risk that a criminal will resort to extortion, kidnapping, or physical threat to get you to send them your bitcoins

Some of these can be protected against with any wallet simply by making sure that you maintain multiple recent backups in secure locations.
Some of these can be protected against with any wallet simply by making sure that you use a very strong password.
Some of these can only be protected against with BOTH a very strong password AND maintaining multiple recent backups in secure locations no matter what wallet you use.
Some of these can only be protected against by making sure that nobody knows that you own the bitcoins, no matter what wallet you use.

The only thing you are protecting against by choosing a "safest wallet" is the ability for a hacker to access your wallet through the internet.  In this case, any wallet that is not connected to the internet is equally secure.  Therefore, if that is what you are trying to protect yourself from, you can choose any of the following:

• Properly created paper wallet
• Armory offline (requires a computer that is never connected to the internet)
• Electrum offline (requires a computer that is never connected to the internet)

Safest is armory. Lots of secure features on it.

But you will need to have bitcoin core installed, and the whole blockchain downloaded