With the TREZOR you should still have a paper wallet backup for it.
The TREZOR key generation is on the device though, so it avoids the situation where you generate your paper wallet on a compromised machine and therefore your keys are compromised. It's also easy to use the TREZOR if you want to spend from your cold wallet without compromising it.
Topic: Trezor or Paper Wallet? (Read 4639 times)
I wrote a thread about this and I personally prefer Trezor,
while my 'guide' is about Ethereum, I also mention various wallets and ways of security!
https://bitcointalksearch.org/topic/m.36439155
(if anyone has any input to what I wrote there, kindly comment it in the thread because I'm always looking to learn more for safety!)
while my 'guide' is about Ethereum, I also mention various wallets and ways of security!
https://bitcointalksearch.org/topic/m.36439155
(if anyone has any input to what I wrote there, kindly comment it in the thread because I'm always looking to learn more for safety!)
Hardware wallets, Paper wallets and Air-gapped, "cold-storage" wallets are generally considered the "safest"... Of course, they still require that you set them up and use them in a correct and safe manner for them to actually be "safe".
Desktop wallets can also be "safe" if used correctly and common sense is exercised with regards to computer security (don't download random software, check digital signatures of downloaded wallets, regular virus/malware scans etc)
Online (web) wallets and exchanges are generally considered the least safe.
Desktop wallets can also be "safe" if used correctly and common sense is exercised with regards to computer security (don't download random software, check digital signatures of downloaded wallets, regular virus/malware scans etc)
Online (web) wallets and exchanges are generally considered the least safe.
which wallet is the safest?
i can print multiple keys with paper and place it all the secure place for back up. i cant do that with hardware wallets.
Actually one of the Key advatages of trezor is that you can create multiple passphrases which essentially creates an entirely new wallet on the same device, with the pass phrase acting as an additional 25th seed word to the original 24 word seed generated on the device. Essentially then u would have different Keys for each wallet.
honestly i have a preference for paper wallet. They are safer because you can take multiple copies and store them in a different place in case someone comes to hunt you
How exactly does storing multiple copies in different locations protect you (or your bitcoins) if someone comes hunting for you? 
If they hunt you down and find you... they take the copy you have at your location and then transfer your coins. What use are the multiple copies?
The only thing that having multiple copies stored in multiple locations protects you from is accidental loss (fire/water damage, accidentally thrown away etc) of the copy you have with you. It isn't going to stop anyone who "comes to hunt you".honestly i have a preference for paper wallet. They are safer because you can take multiple copies and store them in a different place in case someone comes to hunt you
How exactly does storing multiple copies in different locations protect you (or your bitcoins) if someone comes hunting for you? If they hunt you down and find you... they take the copy you have at your location and then transfer your coins. What use are the multiple copies?
The only thing that having multiple copies stored in multiple locations protects you from is accidental loss (fire/water damage, accidentally thrown away etc) of the copy you have with you. It isn't going to stop anyone who "comes to hunt you".
honestly i have a preference for paper wallet. They are safer because you can take multiple copies and store them in a different place in case someone comes to hunt you
While a paper wallet could be considered safer, it primarily depends on how often u plan to hold your coins and use them, if u plan to transact from the paper wallet regularly then u risk your coin each time u transfer money out from the paper wallet as you have to out your keys online every time you want to make a transfer. You would then have to create a new paper wallet for full sfatey, and doing this constantly could get tiresome and expensive( constant transfer fees). In this case it would better to use a hardware wallet like the trezor or ledger. If however u dont plan to touch your coins for years than yes a paper wallet is technically safer provided you follow best practices.
paper wallet (i think its the ::)better option and safe so long no one steals it ) 
Now, its really getting confusing. I am not sure of the one to stick to or use anymore myself because I read in this thread; https://bitcointalksearch.org/topic/m.33348015 about how a guy descovered how unsafe it is to store cryptos in a hardware wallet. I have used both (Ledger and Trezor) but later chosed Ledger because of it metal nature.
And haven't really considered the paper wallet because of the tendency of fire outbreak (you never can tell what might happen) but with that recent discovery, I'm just confused of the one to stick to.
And haven't really considered the paper wallet because of the tendency of fire outbreak (you never can tell what might happen) but with that recent discovery, I'm just confused of the one to stick to.
Do not get to fired up
In the event of a fire, the hardware wallet might be destroyed, but you can just retrieve the seed from the secondary location and then buy a new wallet and retrieve the keys from the seed onto that wallet.
The paper wallet is just easier, because you can make duplicate copies and nothing needs to be replaced to retrieve those coins.
With the TREZOR you should still have a paper wallet backup for it.
The TREZOR key generation is on the device though, so it avoids the situation where you generate your paper wallet on a compromised machine and therefore your keys are compromised. It's also easy to use the TREZOR if you want to spend from your cold wallet without compromising it.
The TREZOR key generation is on the device though, so it avoids the situation where you generate your paper wallet on a compromised machine and therefore your keys are compromised. It's also easy to use the TREZOR if you want to spend from your cold wallet without compromising it.
I'm not sure if that's a good idea. I have seen multiple articles and people saying that Brain wallets are not safe and that you shouldn't use them.
And: https://en.bitcoin.it/wiki/Brainwallet#Low_Entropy_from_Human-Generated_Passphrases
Quote
It's not to do with length, but entropy. Humans are terrible at creating randomness, even what you think is hard to guess could in all probability be guessed with enough iteration.
Family names for example are easy to guess, there's a finite number of them and a vast portion of names are from a set of only a few hundred.
What's the chance of you remembering what names are, the spelling, punctuation and ordering? Fairly low I suspect, humans are also terrible at remembering explicit data like that.
As soon as people start trying to be clever, the probably shifts from theft to irrecoverable loss. Just use the cryptographic keys the way they are supposed to be used, 256 bits of entropy created with a CSRNG
https://bitcoin.stackexchange.com/a/41619Family names for example are easy to guess, there's a finite number of them and a vast portion of names are from a set of only a few hundred.
What's the chance of you remembering what names are, the spelling, punctuation and ordering? Fairly low I suspect, humans are also terrible at remembering explicit data like that.
As soon as people start trying to be clever, the probably shifts from theft to irrecoverable loss. Just use the cryptographic keys the way they are supposed to be used, 256 bits of entropy created with a CSRNG
And: https://en.bitcoin.it/wiki/Brainwallet#Low_Entropy_from_Human-Generated_Passphrases
It's the same as saying passwords are not safe and we shouldn't use them. Of course, if your password is among the List of the most common passwords then you're in trouble.
You can create a secure brainwallet.
How these "24 words seeds" that are used everywhere happen to be secure ? Just use a similar seed for your brainwallet.
Sure, if you go like "whiskers is the nicest cat 2016" for your bitcoin seed, then it's like having "password1234" as a password.
There also something else : once you have spent funds from one address you shouldn't use this address to receive bitcoin to again. So it's hard to keep track of everything manually.
A little bit more about entropy :
(Source : https://www.howtogeek.com/195430/how-to-create-a-strong-password-and-remember-it/ )
I'm not sure if that's a good idea. I have seen multiple articles and people saying that Brain wallets are not safe and that you shouldn't use them.
And: https://en.bitcoin.it/wiki/Brainwallet#Low_Entropy_from_Human-Generated_Passphrases
Quote
It's not to do with length, but entropy. Humans are terrible at creating randomness, even what you think is hard to guess could in all probability be guessed with enough iteration.
Family names for example are easy to guess, there's a finite number of them and a vast portion of names are from a set of only a few hundred.
What's the chance of you remembering what names are, the spelling, punctuation and ordering? Fairly low I suspect, humans are also terrible at remembering explicit data like that.
As soon as people start trying to be clever, the probably shifts from theft to irrecoverable loss. Just use the cryptographic keys the way they are supposed to be used, 256 bits of entropy created with a CSRNG
https://bitcoin.stackexchange.com/a/41619Family names for example are easy to guess, there's a finite number of them and a vast portion of names are from a set of only a few hundred.
What's the chance of you remembering what names are, the spelling, punctuation and ordering? Fairly low I suspect, humans are also terrible at remembering explicit data like that.
As soon as people start trying to be clever, the probably shifts from theft to irrecoverable loss. Just use the cryptographic keys the way they are supposed to be used, 256 bits of entropy created with a CSRNG
And: https://en.bitcoin.it/wiki/Brainwallet#Low_Entropy_from_Human-Generated_Passphrases
Have you considered using a brain wallet ? You can store your bitcoin in your head => https://en.bitcoin.it/wiki/Brainwallet
These won't become technologically obsolete (as today's hardware wallet may become). Also, the technology to hack into your brain isn't here yet.
If you don't get Alzheimer's disease or brain cancer, well your coins are pretty safe in a brain wallet. No critical piece of paper that may burn, no hardware.
These won't become technologically obsolete (as today's hardware wallet may become). Also, the technology to hack into your brain isn't here yet.
If you don't get Alzheimer's disease or brain cancer, well your coins are pretty safe in a brain wallet.
No critical piece of paper that may burn, no hardware.
I think Ledger s Nano is more trustful instead of Trezor.
My Friend Bought it and told me its a more secure wallet rather than anything else. I also suggest to use Ledger S nano rather than any other thing
My Friend Bought it and told me its a more secure wallet rather than anything else. I also suggest to use Ledger S nano rather than any other thing
Haven't gotten to try Trezor or Paper Wallet yet. Maybe you wanna try Paxful.com? I've been cycling through the different wallets and I got on Paxful recently and it's pretty good so far as I'm concerned.
An online wallet is not comparable to a hardware wallet (trezor) or a paper wallet security-wise.
In an online wallet your private keys are stored (either encrypted or unencrypted) on the service providers server. This creates a lot of new attack vectors compared to hardware-/paper wallets.
With a hardware wallet you have a dedicated device which creates and holds the pivate keys in an airgapped device. It can be used on infected PC's without being exposed to theft.
A (properly created) paper wallet also is completely airgapped.
The whole security of a paper wallet relies on 1) the physical security and 2) the way it has been generated.
Haven't gotten to try Trezor or Paper Wallet yet. Maybe you wanna try Paxful.com? I've been cycling through the different wallets and I got on Paxful recently and it's pretty good so far as I'm concerned.
Its unfortunate we don't get notifications for replied post, my replies would have come sooner. I just thought i should check out this thread before I begin. Glad to see your reply
Just for future reference, if you click the "notify" link in the top right corner you can setup email notifications for comments and replies on a specific thread...Very useful if you want to keep tabs on a specific thread. Also, the "watchlist" feature is handy for threads you're interested in, but don't necessarily want immediate notification for.. you can then simply click the "watchlist" link in the top left corner to see a list of "watched" topics that have new posts
Well, there is no way to check and know if my device had previously been tampared with. The hardware has always been on my possession. I have never lossed it, though I have recklessly placed it on places i shouldn't. And I perfectly trust my family members. But I can't say for my colleagues whom I always travel with.
Anyway, I will follow your procedure. Hey HCP, thanks man for putting me through. Its unfortunate we don't get notifications for replied post, my replies would have come sooner. I just thought i should check out this thread before I begin. Glad to see your reply
Anyway, I will follow your procedure. Hey HCP, thanks man for putting me through. Its unfortunate we don't get notifications for replied post, my replies would have come sooner. I just thought i should check out this thread before I begin. Glad to see your reply
A great rule of thumb to go by which may be complete paranoia is if you think it could of been tampered with at anytime then you transfer everything as soon as possible and get a non compromised device. It's extremely unlikely that your work colleagues possess the skills to compromise the device but, always assume that whoever had access to it physically could well compromise it.
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