What is the safest and simplest way to keep bitcoins? - page 4.

ranlo

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Quote from: notlist3d on October 03, 2015, 07:21:40 PM

Quote from: ranlo on October 03, 2015, 06:30:05 PM

Quote from: monbux on October 03, 2015, 12:44:36 PM

Quote from: rickadone on October 03, 2015, 11:27:57 AM

Some people discussing about burying the private key in garden. Must be a joke.
Simplest way must be a password protection. The most secure way may be the hardware wallet.

Actually, hiding the private key in the garden is not a bad idea, as long as it's stored correctly. People are crazy about their bitcoins
Simplest way to keep bitcoins SAFE is to generate and print a paper wallet offline, or keep the bitcoins on an offline computer.

Simplest way to keep SAFE is actually not printing a paper wallet -- it's coming up with your own long pass code. Something like "When I was nine, I fell off my bike on the way home from school" -- things like this are almost guaranteed not to get cracked. And then you need no paper wallet because you just input your code when you need to send funds.

On paper wallet I highly suggest if someone uses them to get rid of some of the nicer designs. Just keep what you need (just cut with scissors) don't have bitcoin written all over it as I still don't think standard thief will know bitcoin QR code. Could even put something to mislead them like "Family Pictures" with the QR, etc needed. Chances are they could care less on family pictures if that's what they think it is.

Also you could use a usb stick with paper wallet stored on it. Put encryption with passphrase like Ranlo mentioned. He is very right a passphrase is very very hard to a bad guy to brute force compared to password just a LOT more possibilities.

With my method, you have no trace. You don't need paper, a USB stick, or even a PC. You simply use the passphrase to sign transactions when needed. Nobody can steal what they can't see, even if you're robbed.

notlist3d

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Quote from: ranlo on October 03, 2015, 06:30:05 PM

Quote from: monbux on October 03, 2015, 12:44:36 PM

Quote from: rickadone on October 03, 2015, 11:27:57 AM

Some people discussing about burying the private key in garden. Must be a joke.
Simplest way must be a password protection. The most secure way may be the hardware wallet.

Actually, hiding the private key in the garden is not a bad idea, as long as it's stored correctly. People are crazy about their bitcoins
Simplest way to keep bitcoins SAFE is to generate and print a paper wallet offline, or keep the bitcoins on an offline computer.

Simplest way to keep SAFE is actually not printing a paper wallet -- it's coming up with your own long pass code. Something like "When I was nine, I fell off my bike on the way home from school" -- things like this are almost guaranteed not to get cracked. And then you need no paper wallet because you just input your code when you need to send funds.

On paper wallet I highly suggest if someone uses them to get rid of some of the nicer designs. Just keep what you need (just cut with scissors) don't have bitcoin written all over it as I still don't think standard thief will know bitcoin QR code. Could even put something to mislead them like "Family Pictures" with the QR, etc needed. Chances are they could care less on family pictures if that's what they think it is.

Also you could use a usb stick with paper wallet stored on it. Put encryption with passphrase like Ranlo mentioned. He is very right a passphrase is very very hard to a bad guy to brute force compared to password just a LOT more possibilities.

ranlo

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Quote from: monbux on October 03, 2015, 12:44:36 PM

Quote from: rickadone on October 03, 2015, 11:27:57 AM

Some people discussing about burying the private key in garden. Must be a joke.
Simplest way must be a password protection. The most secure way may be the hardware wallet.

Actually, hiding the private key in the garden is not a bad idea, as long as it's stored correctly. People are crazy about their bitcoins
Simplest way to keep bitcoins SAFE is to generate and print a paper wallet offline, or keep the bitcoins on an offline computer.

Simplest way to keep SAFE is actually not printing a paper wallet -- it's coming up with your own long pass code. Something like "When I was nine, I fell off my bike on the way home from school" -- things like this are almost guaranteed not to get cracked. And then you need no paper wallet because you just input your code when you need to send funds.

notlist3d

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Quote from: monbux on October 03, 2015, 12:44:36 PM

Quote from: rickadone on October 03, 2015, 11:27:57 AM

Some people discussing about burying the private key in garden. Must be a joke.
Simplest way must be a password protection. The most secure way may be the hardware wallet.

Actually, hiding the private key in the garden is not a bad idea, as long as it's stored correctly. People are crazy about their bitcoins
Simplest way to keep bitcoins SAFE is to generate and print a paper wallet offline, or keep the bitcoins on an offline computer.

I think outdoors idea is not the greatest idea. I think something a little secure like a safe or bank security box beats the heck out of outside. If one person saw you get the can or whatever it is out of side it is compromised. And you might not even know they saw you.

Only way it is really safe is lets say you store a USB drive that is encrypted very well, then put it outside. The layer of encryption makes it where even if someone found it at least they don't get the contents assuming you did encryption right.

monbux

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Quote from: rickadone on October 03, 2015, 11:27:57 AM

Some people discussing about burying the private key in garden. Must be a joke.
Simplest way must be a password protection. The most secure way may be the hardware wallet.

Actually, hiding the private key in the garden is not a bad idea, as long as it's stored correctly. People are crazy about their bitcoins
Simplest way to keep bitcoins SAFE is to generate and print a paper wallet offline, or keep the bitcoins on an offline computer.

rickadone

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Some people discussing about burying the private key in garden. Must be a joke.
Simplest way must be a password protection. The most secure way may be the hardware wallet.

ranlo

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Quote from: neonshium on October 02, 2015, 04:14:28 AM

Quote from: randy8777 on October 01, 2015, 06:12:14 PM

Quote from: CanIHazBitcoin777 on September 30, 2015, 09:28:22 PM

1) Create a bitcoin private key by rolling dice
2) transform into an address
3) write down the private key into a piece of paper
4) put the paper in a box
5) bary the box in your garden
6) only take it out when you need it.

regarding step 1: what exactly do you mean with 'create a bitcoin private key by rolling dice' ? i have never heard of anything like that when creating a private key.

I also do not know how to create a bitcoin address using the rolling dice.
Burying in garden may result in destroying the private key which may lead to burn off your hard earned bitcoin.
Encrypt your wallet with a strong address. That's enough to keep your private keys safe.

What he said doesn't really make sense. Bitcoin private keys have to be created a certain way, not by simply throwing down random letters/numbers.

neonshium

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Quote from: randy8777 on October 01, 2015, 06:12:14 PM

Quote from: CanIHazBitcoin777 on September 30, 2015, 09:28:22 PM

1) Create a bitcoin private key by rolling dice
2) transform into an address
3) write down the private key into a piece of paper
4) put the paper in a box
5) bary the box in your garden
6) only take it out when you need it.

regarding step 1: what exactly do you mean with 'create a bitcoin private key by rolling dice' ? i have never heard of anything like that when creating a private key.

I also do not know how to create a bitcoin address using the rolling dice.
Burying in garden may result in destroying the private key which may lead to burn off your hard earned bitcoin.
Encrypt your wallet with a strong address. That's enough to keep your private keys safe.

Coinminer11

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Never risk more than what you're willing to lose

Paper wallet or a hardware wallet like a trezor or similar.

Hellacopter

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You have to own your personal wallet with the private key and keep it , that's the safest method to keep your bitcoins as safe as possible

randy8777

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Quote from: CanIHazBitcoin777 on September 30, 2015, 09:28:22 PM

1) Create a bitcoin private key by rolling dice
2) transform into an address
3) write down the private key into a piece of paper
4) put the paper in a box
5) bary the box in your garden
6) only take it out when you need it.

regarding step 1: what exactly do you mean with 'create a bitcoin private key by rolling dice' ? i have never heard of anything like that when creating a private key.

notlist3d

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Quote from: ranlo on October 01, 2015, 03:57:47 PM

Quote from: ranochigo on October 01, 2015, 05:02:32 AM

Quote from: btvGainer on September 21, 2015, 06:13:52 PM

Quote from: uxgpf on August 30, 2015, 07:58:34 AM

Quote from: Lanpenn on August 30, 2015, 07:54:11 AM

Except that if I want to save a considerable amount of money, but in bitcoins.

Then print a paper wallet, put it into a safe place and move your bitcoins there.

if I create a paper wallet and move my bitcoin there then how can I send bitcoin to someone if I need to? what do I do to use it?

Paper wallet is safe but is not as user friendly as offline computer. Mycelium has a feature which allows you to spend money from your paper wallet by scanning a Qr code. However, it would not exactly qualify as safe if you were to use your phone which you use daily as it would be exposed to the internet. Buying an android phone isn't viable as purchasing a raspberry pi and install electrum on it.

The more I hear ideas, the more I get pushed to the idea that hardware wallets are the way to go (like Trezor). Even the pi can be exploited.

Only if you do something wrong with the PI. Such as searching online with it and using it as not a cold storage device. If you use a pi as storage chances are it should be offline.

I suppose it's possible a computer on network is infected and it get's to pi when it's plugged in temporary. But will not happen to often on this.

As far as cold wallets paper still beats pi on security. You can not hack a paper (as long as it's done right).

ranlo

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Quote from: ranochigo on October 01, 2015, 05:02:32 AM

Quote from: btvGainer on September 21, 2015, 06:13:52 PM

Quote from: uxgpf on August 30, 2015, 07:58:34 AM

Quote from: Lanpenn on August 30, 2015, 07:54:11 AM

Except that if I want to save a considerable amount of money, but in bitcoins.

Then print a paper wallet, put it into a safe place and move your bitcoins there.

if I create a paper wallet and move my bitcoin there then how can I send bitcoin to someone if I need to? what do I do to use it?

Paper wallet is safe but is not as user friendly as offline computer. Mycelium has a feature which allows you to spend money from your paper wallet by scanning a Qr code. However, it would not exactly qualify as safe if you were to use your phone which you use daily as it would be exposed to the internet. Buying an android phone isn't viable as purchasing a raspberry pi and install electrum on it.

The more I hear ideas, the more I get pushed to the idea that hardware wallets are the way to go (like Trezor). Even the pi can be exploited.

ranochigo

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Crypto Swap Exchange

Quote from: btvGainer on September 21, 2015, 06:13:52 PM

Quote from: uxgpf on August 30, 2015, 07:58:34 AM

Quote from: Lanpenn on August 30, 2015, 07:54:11 AM

Except that if I want to save a considerable amount of money, but in bitcoins.

Then print a paper wallet, put it into a safe place and move your bitcoins there.

if I create a paper wallet and move my bitcoin there then how can I send bitcoin to someone if I need to? what do I do to use it?

Paper wallet is safe but is not as user friendly as offline computer. Mycelium has a feature which allows you to spend money from your paper wallet by scanning a Qr code. However, it would not exactly qualify as safe if you were to use your phone which you use daily as it would be exposed to the internet. Buying an android phone isn't viable as purchasing a raspberry pi and install electrum on it.

ranlo

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Quote from: notlist3d on September 30, 2015, 03:27:43 PM

Quote from: ranlo on September 24, 2015, 12:49:13 AM

Quote from: notlist3d on September 21, 2015, 07:55:01 PM

Quote from: ranlo on September 21, 2015, 07:10:39 PM

Quote from: btvGainer on September 21, 2015, 06:13:52 PM

Quote from: uxgpf on August 30, 2015, 07:58:34 AM

Quote from: Lanpenn on August 30, 2015, 07:54:11 AM

Except that if I want to save a considerable amount of money, but in bitcoins.

Then print a paper wallet, put it into a safe place and move your bitcoins there.

if I create a paper wallet and move my bitcoin there then how can I send bitcoin to someone if I need to? what do I do to use it?

Google for paper wallet generator. There are many tools that will let you sign and push a transaction with your private key.

Make sure when you make a paper wallet it's on a computer that seems to be clean. If you can do a fresh install OS and install updates, and anti-virus then do this is best.

I would not use normal internet surfing computer to do this. Or one that is a public computer. I guess kinda common sense stuff on some of it.

While your tips were good, you forgot a big part. DO NOT take that computer online! Preferably ever. That means keep it off the network, as well. You don't know what malware could be lurking still.

The thing is if you are compromised likely you create it when offline... so ok safe. But if you go back online with same computer depending on what you have on virus/malware it might just send that new wallet.

So cold storage is a good way to do it. This may seem like overkill but if it's a paper wallet you will be using for decent amount of money I would whipe computer, and reinstall OS after. Then you pretty much are in clear if you store it safely.

It's been said that you can implant virii in the BIOS, though, so that if the system ever goes online in the future (even after a wipe), it could still be compromised. It's a tricky thing.

CanIHazBitcoin777

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1) Create a bitcoin private key by rolling dice
2) transform into an address
3) write down the private key into a piece of paper
4) put the paper in a box
5) bary the box in your garden
6) only take it out when you need it.

notlist3d

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Merit: 1000

Quote from: ranlo on September 24, 2015, 12:49:13 AM

Quote from: notlist3d on September 21, 2015, 07:55:01 PM

Quote from: ranlo on September 21, 2015, 07:10:39 PM

Quote from: btvGainer on September 21, 2015, 06:13:52 PM

Quote from: uxgpf on August 30, 2015, 07:58:34 AM

Quote from: Lanpenn on August 30, 2015, 07:54:11 AM

Except that if I want to save a considerable amount of money, but in bitcoins.

Then print a paper wallet, put it into a safe place and move your bitcoins there.

if I create a paper wallet and move my bitcoin there then how can I send bitcoin to someone if I need to? what do I do to use it?

Google for paper wallet generator. There are many tools that will let you sign and push a transaction with your private key.

Make sure when you make a paper wallet it's on a computer that seems to be clean. If you can do a fresh install OS and install updates, and anti-virus then do this is best.

I would not use normal internet surfing computer to do this. Or one that is a public computer. I guess kinda common sense stuff on some of it.

While your tips were good, you forgot a big part. DO NOT take that computer online! Preferably ever. That means keep it off the network, as well. You don't know what malware could be lurking still.

The thing is if you are compromised likely you create it when offline... so ok safe. But if you go back online with same computer depending on what you have on virus/malware it might just send that new wallet.

So cold storage is a good way to do it. This may seem like overkill but if it's a paper wallet you will be using for decent amount of money I would whipe computer, and reinstall OS after. Then you pretty much are in clear if you store it safely.

MR.Seller

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Hi, you can backup your wallet using cold storage and it can protect you against computer failures and many human mistakes. It can also allow you to recover your wallet after your mobile or computer was stolen if you keep your wallet encrypted. just my 2 cent bro have a good day I hope it can help you a lot.

gogxmagog

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Ad maiora!

Quote from: poorshibe9 on August 30, 2015, 08:28:44 AM

Quote from: Lanpenn on August 30, 2015, 07:54:11 AM

Except that if I want to save a considerable amount of money, but in bitcoins.

there are hardware wallets you should check them as they are the safest

yes, these are the safest and simplest. not the cheapest though. the cheapest is paper wallets, but keep in mind your printer will keep the files in it and this can be hacked. there are steps to making paper wallets hacker-proof, but it is a bit of work and knowledge needed. since you are IT you will be able to figure it out.

i am assuming English is not your native tongue. i am sure you can find the information to create safest paper wallets in your language, possibly in the non-english parts of this forum.

if you do plan to collect a large amount of btc, I would invest in a hardware wallet. there are good ones as cheap as 35$ USD, they are simple to set up and use and you need not worry about collecting a large amount of paper, plus you can spend and save with it just like any other wallet, without the risk of being hacked. I use a ledger wallet and I am very happy with its ease and security.

welcome and good luck

neonshium

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Quote from: Franciem on September 24, 2015, 02:07:06 AM

install bitcoin core and safe your wallet.dat

That's not alone enough to secure your bitcoins.
Because unencrypted wallets are always vulnerable to hack at any mode of hacking, like your neighbor also can steal your bitcoins in the moment you leave off your laptop.
So, strong password is the correct solution.

Topic: What is the safest and simplest way to keep bitcoins? - page 4. (Read 7943 times)