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Topic: The SAFest WALLET? - page 3. (Read 2663 times)

hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
December 30, 2014, 01:11:14 PM
#18
Wouldn't backing up something like Bitcoin QT on a flash drive work effectively ?

That would be okay if you use a internet-not-connected computer. There is an OS for doing this, BitKey but I haven't tested it, so I can't vouch for it. Better stick with paper wallet.

Also, how does one go about making a paper wallet ?

You can create an address and dump the private key and print it. Armory wallet gives good support for doing this. Smiley

   ~~MZ~~
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
December 30, 2014, 01:09:19 PM
#17
Hey there guys,
I recently decided to make a new wallet to secure my funds which are growing.
The wallet is for Bitcoins.
I will not be using them to buy or sell, but just store them and keep it as an investment.
Please suggest something, other than hardware wallets, because I dont want to shell out money on them

are these:

https://bitcointalksearch.org/topic/overview-bitcoin-hardware-wallets-secure-your-coins-899253


but for small amounts an online or desktop wallet is okay.
member
Activity: 65
Merit: 10
December 30, 2014, 12:07:39 PM
#16
Wouldn't backing up something like Bitcoin QT on a flash drive work effectively ?

Also, how does one go about making a paper wallet ?
hero member
Activity: 686
Merit: 500
December 30, 2014, 11:51:12 AM
#15
The safest wallet is Armory. There is no debate on that.

I have been using the offline version sometime now.

   ~~MZ~~

I also use the offline Armory as a cold wallet.

Paper wallets are also advised to be more secure.
legendary
Activity: 3472
Merit: 4801
December 30, 2014, 11:35:57 AM
#14
- snip -
Please suggest something, other than hardware wallets, because I dont want to shell out money on them

Ledger Wallet, TREZOR
- snip -

Huh
hero member
Activity: 560
Merit: 500
December 30, 2014, 11:13:51 AM
#13
Ledger Wallet, TREZOR, Armory...never trust a service like Blockchain or Coinbase.
sr. member
Activity: 338
Merit: 250
December 30, 2014, 11:00:38 AM
#12
Just download a liteweight client and keep your wallet.dat backed up offline until you need it.

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

I think most wallets are only as safe as the person that is using them is.
hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
December 30, 2014, 10:57:53 AM
#11
"Safe" is a very interesting word.  It really depends on what you are trying to protect yourself from.
...

+1111. Wow! This is the best post I have found in this year about "storing BTC safely". You absolutely changed my mind. Smiley

- snip -
Please suggest something, other than hardware wallets, because I dont want to shell out money on them

If you have good amount of BTC, why don't you try Trezor or Ledger?

   ~~MZ~~

Huh

Sorry! Deleted!

   ~~MZ~~
legendary
Activity: 3472
Merit: 4801
December 30, 2014, 10:44:15 AM
#10
"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)
hero member
Activity: 854
Merit: 500
December 30, 2014, 10:29:10 AM
#9
I like multibit and electrum, it depends on your needs
I want ultimate safety of funds.
legendary
Activity: 1120
Merit: 1000
December 30, 2014, 08:35:48 AM
#8
I like multibit and electrum, it depends on your needs
full member
Activity: 153
Merit: 100
December 30, 2014, 05:59:08 AM
#7
Bitcoin core and Electrum are good way to keep safe your account. But I prefer blockchain.info, it is very good and it is online (but you can set every safe parameter that you want).
hero member
Activity: 686
Merit: 500
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December 30, 2014, 05:56:53 AM
#6
Hey there guys,
I recently decided to make a new wallet to secure my funds which are growing.
The wallet is for Bitcoins.
I will not be using them to buy or sell, but just store them and keep it as an investment.
Please suggest something, other than hardware wallets, because I dont want to shell out money on them

You can use electrum if you won't to download the data from block chain, armory is good wallet too, bit coin core and green address too Wink

hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
December 30, 2014, 05:44:49 AM
#5
The safest wallet is Armory. There is no debate on that.

I have been using the offline version sometime now.

Using a non-networked PC (a small netbook will work) and a webcam it can give you 100% security.

If it takes photos if a person tries to login would give you better security but don't make logging-in option using your face because it can be faked with your photo unless you set some additional options such as blinking the eyes x times etc...

   ~~MZ~~
sr. member
Activity: 1456
Merit: 326
Eloncoin.org - Mars, here we come!
December 30, 2014, 04:30:33 AM
#4
The safest wallet is Armory. There is no debate on that.

Using a non-networked PC (a small netbook will work) and a webcam it can give you 100% security.

Agreed. Armory is the one I use for my primary wallet; it's got so many security features that may seem tedious but are worth it. It's called "Armory" for a reason!
legendary
Activity: 1106
Merit: 1000
December 30, 2014, 04:28:07 AM
#3
The safest wallet is Armory. There is no debate on that.

Using a non-networked PC (a small netbook will work) and a webcam it can give you 100% security.
legendary
Activity: 3248
Merit: 1070
December 30, 2014, 04:22:57 AM
#2
core and electrum are both pretty safe, the latter let you do offline transaction
hero member
Activity: 854
Merit: 500
December 30, 2014, 03:59:35 AM
#1
Hey there guys,
I recently decided to make a new wallet to secure my funds which are growing.
The wallet is for Bitcoins.
I will not be using them to buy or sell, but just store them and keep it as an investment.
Please suggest something, other than hardware wallets, because I dont want to shell out money on them
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