Topic: What should be done for Bitcoin wallet security? - page 2. (Read 2723 times)
Don't click on suspicious links or email, don't install script that is suspicious and always keep a regular malware scan weekly, I believe the person himself must be responsible for the bitcoin wallet security too.
Wallets are as secure as your computer. Nobody can simply hack into your wallet without hacking your pc first. Don't install crap, don't visit porn sites and don't click every link you see and you'll be fine. And one more thing, install a good AV.
you should be using the right wallet for you're bitcoin. having wallets on the trusted bitcoin wallet provider is the best way to secure your bitcoins, try researching the local bitcoin wallet provider in your country. or better try the wallet which was used by the majority. you could always be wise.
or better not give your personal infos about your wallet to others because they might hack you. just be secured.
or better not give your personal infos about your wallet to others because they might hack you. just be secured.
I would go with hardware wallet, if you want some security.
I can recommend ledger nano S or ledger nano which both you can find here: https://www.ledgerwallet.com/products
I think that desktop wallets are not as safe as hardware wallets, if you generate the seeds offline.
You can find a safe way to generate the seeds offline from here: http://support.ledgerwallet.com/knowledge_base/topics/how-to-initialize-my-ledger-wallet-on-an-air-gap
I can recommend ledger nano S or ledger nano which both you can find here: https://www.ledgerwallet.com/products
I think that desktop wallets are not as safe as hardware wallets, if you generate the seeds offline.
You can find a safe way to generate the seeds offline from here: http://support.ledgerwallet.com/knowledge_base/topics/how-to-initialize-my-ledger-wallet-on-an-air-gap
First we must admit there is none wallet with 100% security. The way I see it depends with the amount of our bitcoins and how often do we spend them. That is, if we have a wallet for our savings that means a big amount of coins, then a cold wallet solution "send many spend once" is the best one. If you want a wallet to spend anytime, everywhere you are but not for big payments then a mobile solution like as mycelium is a good one. At last, if you spend sometimes sitting in front of your computer for bigger purchases then a desktop solution like as electrum would be your choice. The security is inversely proportional to the ease of use.
Is it even possible to back up a hardware wallet? I heard of people that have two factor authentication on hardware wallets but not a backup of them. And with more backups, you then have to worry about where you're placing these backups. If you do too many backups in different locations, then one might find it's way online.
Most hardware wallets uses seed and you can recover everything using them. You know, you can always use a pen and paper to back it up.Keeping a small proportion of money on an exchange site such as coinbase is normally quite a good idea as it means that they will cover the transaction fees for you so online wallets are sometimes useful (but only for small amounts).
Sometimes, they are strict about suspending accounts. They like to suspend accounts for various activities. Hence, you are giving up your privacy. 
Web wallets are a big nope in my opinion and the biggest concern is not having control of private keys.
For desktop wallets the biggest issue is getting your PC (or any other device) compromised, though you could use a separate offline device to ensure this doesn't happen.
For hardware wallets the biggest issue would be hardware failure and therefore the need to hold backups.
For desktop wallets the biggest issue is getting your PC (or any other device) compromised, though you could use a separate offline device to ensure this doesn't happen.
For hardware wallets the biggest issue would be hardware failure and therefore the need to hold backups.
Is it even possible to back up a hardware wallet? I heard of people that have two factor authentication on hardware wallets but not a backup of them. And with more backups, you then have to worry about where you're placing these backups. If you do too many backups in different locations, then one might find it's way online.
Keeping a small proportion of money on an exchange site such as coinbase is normally quite a good idea as it means that they will cover the transaction fees for you so online wallets are sometimes useful (but only for small amounts).
If you want a good software client I can recommend electrum which doesn't require a 108GB blockchain download before you can use it.
Web wallets are a big nope in my opinion and the biggest concern is not having control of private keys.
For desktop wallets the biggest issue is getting your PC (or any other device) compromised, though you could use a separate offline device to ensure this doesn't happen.
For hardware wallets the biggest issue would be hardware failure and therefore the need to hold backups.
For desktop wallets the biggest issue is getting your PC (or any other device) compromised, though you could use a separate offline device to ensure this doesn't happen.
For hardware wallets the biggest issue would be hardware failure and therefore the need to hold backups.
Different wallet options are available for Bitcoin. There are Web, Desktop and Hardware wallets.
What are the things to watch out for these wallets? What should we do for the safety of our Bitcoins?
What are the things to watch out for these wallets? What should we do for the safety of our Bitcoins?
Only a few web wallets worth using these days but If its for holding large amounts of BTC then definitely not a good idea.
In the different types you mentioned , hardware wallets are the best choice , If we take Ledger Nano S as an example then using it cannot be an issue as long as you have the device with you and even If you use an infected PC that won't hurt you at all while on desktop applications , If you have a malware installed then you are pretty much screwed.
Different wallet options are available for Bitcoin. There are Web, Desktop and Hardware wallets.
What are the things to watch out for these wallets? What should we do for the safety of our Bitcoins?
What are the things to watch out for these wallets? What should we do for the safety of our Bitcoins?
Ensure that you are the sole owner and controller of private keys. Not using internet wallets at all is generally quite a good idea unless you want to avoid transaction fees and have someone like coinbase.com pay them instead.
There are good hardware wallets like trezor (the more known the brand is, the less likely it is for them to be scams although it may be less secure just due to the fact that their more commonly used).
Good software wallets include bitcoin core (a full wallet that downloads the entire blockchain) and electrum (a light wallet that does not download the blockchain).
All the wallets I mentioned encrypt their private keys but with coinbase, you don't have access to them.
Bitcoin Core is the original wallet releaased by the bitcoin developers.
Electrum is a wallet that uses "public keys" (a set of characters used to generate addresses and show the addresses in a wallet) to get how much the user owns - not transmitting any private keys at all.
Different wallet options are available for Bitcoin. There are Web, Desktop and Hardware wallets.
What are the things to watch out for these wallets? What should we do for the safety of our Bitcoins?
What are the things to watch out for these wallets? What should we do for the safety of our Bitcoins?
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