Turn Old Phones Into Cold Storage Crypto Wallets - page 2.

abel1337

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Quote from: TryNinja on October 04, 2019, 12:25:55 AM

Quote from: joniboini on October 04, 2019, 12:17:47 AM

I never see a phone that requires you to insert a SIM card before you can use it. I have one phone (Redmi Note 3) that does not have any SIM card, and I use it for gaming. I can go offline with it without wi-fi or cellular networks, and it works.

A lot of smartphones do that. Actually, every single iPhone requires you to insert a SIM card to activate it. Phoned were made for this (communicating through the cellular network), so they obviously need to communicate with your courrier to “let them know” about your phone. That’s why phoned can be blocked when stolen.

Now, about the app mentioned in the OP: isn’t Parity that company/thing/app/whatever that made people get $160 mil stuck due to a code flaw or something like this?

Additional to the info, It is depending on where did that iPhone came, If it came from a telecom with a sim card plan, It would be necessary to use the sim card that is registered on the phone. The reason of it is the security of the telecom that the user will pay the whole plan and they have the power to lockdown, You can use other brands of sim cards on that kind of phone. It is how it works in our country. But if you bought a factory unlocked iPhone, It means it came directly from Apple, you can possibly use every kind of sim card in every country.

I don't know if it is how it works on other smartphones like android but on the iPhone, it is the thing that telecommunication doing to us.

note: I have a device that is on a plan, I did some experiments and I can't bypass the security.

Quote from: Polina_21 on October 03, 2019, 05:58:37 AM

➡ How effective this new App will be? Will it really helps the users to keep the funds safe offline? Please share your opinion on this.

Will start to find my old android phone and going to try this. I hope it works for testing purposes.

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Quote from: pooya87 on October 03, 2019, 10:53:13 PM

the problem with phones is that they are connected to the network, not via the internet but you still have to insert a sim card in them and be connected to some sort of network. that could be a security flaw.

As we need to keep the phone in Airplane mode, it will suspend radio frequency signal transmissions and disables all sort of connection ability of the device. Since everything is off, the sim card inserted would not cause any problem.

Quote from: TryNinja on October 04, 2019, 12:25:55 AM

Now, about the app mentioned in the OP: isn’t Parity that company/thing/app/whatever that made people get $160 mil stuck due to a code flaw or something like this?

Where did you see this news or message that $160 mil stuck due to code flaw? Can you please share the source link? I have not read anywhere about that.

Quote from: nydiacaskey01 on October 04, 2019, 01:37:19 AM

Sounds like a very nice idea however, I wonder what version of Android are they supporting. Is it going to work even if the phones android version is old example if the Android version is Gingerbread, some apps in Google Playstore does not support lower android version so question is, is it still going to work if android version is low? Right now latest version of Android is Oreo I think.

I do not know the exact version of android but it is supported on Android and iOs. You can install it from here -

Android Play store
iOs app store
Signed APK from GitHub

You can check here to know how to get it, use it and update it.

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Sounds like a very nice idea however, I wonder what version of Android are they supporting. Is it going to work even if the phones android version is old example if the Android version is Gingerbread, some apps in Google Playstore does not support lower android version so question is, is it still going to work if android version is low? Right now latest version of Android is Oreo I think.

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Quote from: joniboini on October 04, 2019, 12:17:47 AM

I never see a phone that requires you to insert a SIM card before you can use it. I have one phone (Redmi Note 3) that does not have any SIM card, and I use it for gaming. I can go offline with it without wi-fi or cellular networks, and it works.

A lot of smartphones do that. Actually, every single iPhone requires you to insert a SIM card to activate it. Phoned were made for this (communicating through the cellular network), so they obviously need to communicate with your courrier to “let them know” about your phone. That’s why phoned can be blocked when stolen.

Now, about the app mentioned in the OP: isn’t Parity that company/thing/app/whatever that made people get $160 mil stuck due to a code flaw or something like this?

joniboini

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Quote from: pooya87 on October 03, 2019, 10:53:13 PM

the problem with phones is that they are connected to the network, not via the internet but you still have to insert a sim card in them and be connected to some sort of network.

I never see a phone that requires you to insert a SIM card before you can use it. I have one phone (Redmi Note 3) that does not have any SIM card, and I use it for gaming. I can go offline with it without wi-fi or cellular networks, and it works.

pooya87

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the problem with phones is that they are connected to the network, not via the internet but you still have to insert a sim card in them and be connected to some sort of network. that could be a security flaw and nowadays with all these back doors that keep being found where they inject stuff in your phone to snoop around, i don't really see phones as a secure medium for storage.
a PC could physically be disconnected from the rest of the world, you can never achieve that with a phone unless you open it up and remove chips!

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Quote from: The Sceptical Chymist on October 03, 2019, 01:08:44 PM

Agreed. If it weren't, I'm sure people would already be declaring it a scam. Having said that, I would not want to be a guinea pig for this app (and I don't even own enough crypto to justify it). I'll be curious to see if it catches on and what users have to say about it.

Definitely. Same applies with everything: wallets, exchanges, or any new product. It'd be best to wait for a couple of months first after they detected and fixed the initial potential problems, and after it has gained enough public traction before I use it.

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Quote from: ?? on ??

would an old ti calculator (those dont have any of that do they?) have the capability to perform such things?

That would be fantastic! If a thief broke into your house, the probability of it getting stolen would be pretty low. Then again a Ledger or some other hardware wallet can be tucked away pretty much anywhere since it's so small. Not so with a TI calculator or even an old smartphone. Still, this idea intrigues me though I'm not sure how secure it is--but I'm no technical expert.

Quote from: mk4 on October 03, 2019, 12:21:30 PM

EDIT: it seems like it's open-source. That's definitely a huge plus.

Agreed. If it weren't, I'm sure people would already be declaring it a scam. Having said that, I would not want to be a guinea pig for this app (and I don't even own enough crypto to justify it). I'll be curious to see if it catches on and what users have to say about it.

mk4

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I really haven't heard of that app, assuming it's legitimate, while it seems it might be better(in terms of security) to use that app rather than using a frequently online personal mobile device, I probably still wouldn't use it. Well, unless I really know how to dissect the phone and take out the unnecessary hardware(wifi chips and such) that could be an attack vector, just to be extra sure.

EDIT: it seems like it's open-source. That's definitely a huge plus.

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Now we need not have to throw our old phones, we can use that for holding Cryptocurrencies!! Recently, Parity Technologies released a New version of Parity Signer that can be used as a hardware wallet.

The Parity Signer v3 Beta will enable users to store assets, vote for governance proposals and sign transactions offline, with integrations for both the Polkadot and Ethereum blockchains.

The phone should be kept offline all the times and should never be connected to the internet, so that you can keep your funds safe from Hackers and Malware.

Once Parity Signer has been installed, switch on airplane mode and make sure no Wi-Fi, Bluetooth, or any other connectivity is enabled. From that point you can securely create your accounts, offline.

The new version allows users to create Kusama accounts to connect with Polkadot-js apps. For all accounts, users will receive a recovery phrase and choose a “pin” to sign transactions. Transfers do not involve private keys, but instead utilize the industry standard QR code for two-way communication between hot wallets and cold signers.

The company is warning the users to use the App with Caution -

Quote

While we believe Parity Signer’s offline design makes it one of the most secure ways to store your Kusama and Ethereum assets, we recommend using Parity Signer with caution: follow the official instructions and only store small amounts on it. The cryptographic library used in Parity Signer was part of the Trail of Bits audit.

➡ How effective this new App will be? Will it really helps the users to keep the funds safe offline? Please share your opinion on this.

Source:
https://www.coindesk.com/parity-updates-tech-to-let-you-turn-old-phones-into-cold-storage-crypto-wallets
https://www.parity.io/parity-signer-v3-0-beta-is-here/

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