Electrum portable & addresses generated from offline cached copy of bitaddress.org.
Both of the above are PGP encrypted then the files are encapsulated within an encrypted TrueCrypt volume.
All of the above on a bootable Linux usb drive.
I keep copies in at least 3 different locations.
Like mentioned by earlier contributors, I don't trust paper wallets especially in a bank safe deposit box that can be seized. Or my house burns down. Yes I have a fire safe but water damage is also a big problem in case of a fire. Encrypted digital is so much easier.
Topic: What kind of cold storage do you use? (Read 2970 times)
The risk of you forgetting a pass phrase, losing a piece paper or having a USB die is probably higher than you getting hacked.
Personally I'd go for an encrypted copy of a key on USBs or paper in at least two locations.
If you have a significant amount then you need to think about the risk of you getting hit by a bus. For this a 5 part key where 3 out of the 5 will produce the main key could work well. Maybe keep 2 at home, 2 with your next of kin and one with a solicitor or bank manager?
Personally I'd go for an encrypted copy of a key on USBs or paper in at least two locations.
If you have a significant amount then you need to think about the risk of you getting hit by a bus. For this a 5 part key where 3 out of the 5 will produce the main key could work well. Maybe keep 2 at home, 2 with your next of kin and one with a solicitor or bank manager?
I like to keep mine backed up to a few USBs.
method to store WALLET.DAT ...
1) save with bitcoin-core with menu (like usual)
2) make a 7-zip backup of this file
3) close bitcoin-core
4) make a 7-zip backup of the wallet.dat in the blockchain folder
5) copy the wallet.dat
6) make a whole 7-zip backup of all previous files
7) store in many USB key and Hard drive (magnetic !) and microSD card
that ... it's a cold storage !
1) save with bitcoin-core with menu (like usual)
2) make a 7-zip backup of this file
3) close bitcoin-core
4) make a 7-zip backup of the wallet.dat in the blockchain folder
5) copy the wallet.dat
6) make a whole 7-zip backup of all previous files
7) store in many USB key and Hard drive (magnetic !) and microSD card
that ... it's a cold storage !
My favorite is a paper wallet that is pass protected, then divided up in pieces and stored in several different safety deposit boxes spread across several different banks. It's even better if they are spread across the country you live in.
Newbie question:
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
It's ok. I'd store the compatible client for that wallet on the USB too, just jin case.
So it should be ok but keep a setup file for that wallet version on the usb just in case...
If it is this simple in making a cold storage, I do not see the elaborate need for paper wallets and other methods. Copy/paste + text with password.
Another question: when updating your wallet verison, you would simply back up your wallet dat by copy/pasting and erasing everything else, installing the new version, than copy/pasting your wallet dat, correct?
USB keys can die. Paper can't.
And yes, correct. You can also import private keys into the new version.
What do you mean usb keys can 'die'? as in, physically malfunction/decay or corrode/erode due to ppor conditons overtime? I do plan on basically drawing it out every 6 months or so and updating wallet version/replacing it with new usb drive.
I dooappreciate you answers but english is not my first language. Thanks again.
Yeah, the fact that there is a possibility for them to malfunction, although it rarely happens, but still...
Newbie question:
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
It's ok. I'd store the compatible client for that wallet on the USB too, just jin case.
So it should be ok but keep a setup file for that wallet version on the usb just in case...
If it is this simple in making a cold storage, I do not see the elaborate need for paper wallets and other methods. Copy/paste + text with password.
Another question: when updating your wallet verison, you would simply back up your wallet dat by copy/pasting and erasing everything else, installing the new version, than copy/pasting your wallet dat, correct?
USB keys can die. Paper can't.
And yes, correct. You can also import private keys into the new version.
What do you mean usb keys can 'die'? as in, physically malfunction/decay or corrode/erode due to ppor conditons overtime? I do plan on basically drawing it out every 6 months or so and updating wallet version/replacing it with new usb drive.
I dooappreciate you answers but english is not my first language. Thanks again.
Newbie question:
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
It's ok. I'd store the compatible client for that wallet on the USB too, just jin case.
So it should be ok but keep a setup file for that wallet version on the usb just in case...
If it is this simple in making a cold storage, I do not see the elaborate need for paper wallets and other methods. Copy/paste + text with password.
Another question: when updating your wallet verison, you would simply back up your wallet dat by copy/pasting and erasing everything else, installing the new version, than copy/pasting your wallet dat, correct?
USB keys can die. Paper can't.
And yes, correct. You can also import private keys into the new version.
Newbie question:
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
It's ok. I'd store the compatible client for that wallet on the USB too, just jin case.
So it should be ok but keep a setup file for that wallet version on the usb just in case...
If it is this simple in making a cold storage, I do not see the elaborate need for paper wallets and other methods. Copy/paste + text with password.
Another question: when updating your wallet verison, you would simply back up your wallet dat by copy/pasting and erasing everything else, installing the new version, than copy/pasting your wallet dat, correct?
Newbie question:
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
It's ok. I'd store the compatible client for that wallet on the USB too, just jin case.
Newbie question:
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
If I made copies of my wallet.dat, cut/paste into a usb, wrote the pass phrase on a piece of paper, and stored both the paper and usb in a safe box, would that be considered 'cold storage'?
Also is using this method safe when wallet versions are updated in the future as I would merely be copy/pasting the wallet'dat and using the passphrase to open my wallet?
How vulnerable electronically speaking is this, aside from physical vulneralbilities?
Backups.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
Paper wallets are the only way to go.
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
Anything can be done to any of the cold storage. There is no 'perfect' system, just great systems.
Chances of someone hacking a BIP38 key are minimal. So, pretty much perfect
Still the limitation of proximity.
Paper wallets are the only way to go.
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
Anything can be done to any of the cold storage. There is no 'perfect' system, just great systems.
Chances of someone hacking a BIP38 key are minimal. So, pretty much perfect
Paper wallets are the only way to go.
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
Anything can be done to any of the cold storage. There is no 'perfect' system, just great systems.
drilling safe deposit boxs ?
I think I saw that in a movie last week.
Any solution you can say what about this, what about that.
just spend them if you are so clever
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
I think I saw that in a movie last week.
Any solution you can say what about this, what about that.
just spend them if you are so clever
Paper wallets are the only way to go.
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
You're right: there is no perfect system...they all have trade offs.
But i felt the need to say something because poster said
Paper wallet is "only" way to go.
Anyway there's other issues with paper wallet in safe deposit box. bank could
Get robbed, have a fire...plus you couldn't access your coins if you are travelling, etc.
I keep my SD cards in strategic places that I travel to frequently. Multiple copies of any cold wallet helps.
Paper wallets are the only way to go.
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
If you're that paranoid, why not just encrypt the private keys on the paper wallets?
A passphrase you have in your head.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
drilling safe deposit boxs ?
I think I saw that in a movie last week.
Any solution you can say what about this, what about that.
just spend them if you are so clever
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
I think I saw that in a movie last week.
Any solution you can say what about this, what about that.
just spend them if you are so clever
Paper wallets are the only way to go.
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
You're right: there is no perfect system...they all have trade offs.
But i felt the need to say something because poster said
Paper wallet is "only" way to go.
Anyway there's other issues with paper wallet in safe deposit box. bank could
Get robbed, have a fire...plus you couldn't access your coins if you are travelling, etc.
drilling safe deposit boxs ?
I think I saw that in a movie last week.
Any solution you can say what about this, what about that.
just spend them if you are so clever
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
I think I saw that in a movie last week.
Any solution you can say what about this, what about that.
just spend them if you are so clever
Paper wallets are the only way to go.
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
Paper wallets are the only way to go.
But where do you keep it? Your house could burn down and get robbed.
And of it's at the bank you are trusting bank personnel and authorities.
It's not like safe deposit boxes have never been drilled.
Jump to: