Topic: Which is best Bitcoin wallet? Other than hardware (Read 496 times)

I would recommend Atomic Wallet. It's a pretty good wallet. It has a fast and smooth user interface. It's decentralized, secure and anonymous. I'm sure you will love it if you will give it a try.

Encryption technologies are being improved, but there is always a human factor. so the good old way to write down on paper and put key data in your passport can really be one of the most encouraging ways to ensure the security of digital assets.

Although software wallets, the key to which you can store separately, are completely safe. but, unfortunately, one cannot always rely on technology. Storage devices suddenly stop working when you reconnect them to a computer. and the problem cannot be predicted. although the percentage of loss of their crypto coins is not high. but there is always a risk

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The funny thing is that despite the fact that you often talk about the importance of choosing a wallet, not many users will listen to tips and protect themselves from theft. The number of hacker attacks and the loss of access to wallets still prove that people often use the same tactics, hoping that nothing bad will happen to them

Even banks with their huge safes do not have an ideal storage system. But still, when you yourself are responsible for the safety of your assets, this disciplines. It is better to be prepared to lose everything through your own fault than if hackers crack you and the data falls into the hands of third parties. Although, of course, you should always make copies to store keys in several places

Shill your Taki waki network or whatever it is called somewhere else, not in the Bitcoin boards. Nobody cares about that here.
All the above accounts who posted in the space of a few minutes were created on the same date, a few minutes apart and the few posts they have are mostly Taki waki network shills.

Exactly! Also, it all depends on one's requirements. If a person is looking for a wallet just to store temporarily with the main motive being trading then an online wallet would be the best choice as trading by using cold storage wallet can be a bit troublesome.
If safety is the main priority then I'd recommend you to go for cold storage, preferably the hardware one. They're the safest wallet out of all the others.

If an attacker gains full access to the mobile, he can spend the funds (just like with private keys stored on a mobile wallet).

Biometric data (e.g. fingerprint) is stored on the mobile. Together with the shared secret, that's all one needs to initiate a transaction using your server.

So.. in the end it again comes down to only the security of the mobile.




But it IS stored online. And that's a huge problem already.




With multisig (and someone i know holding the second key out of a 2-of-2 multisig) an attacker can not simply steal my mobile with one of the keys and initiate a transaction by claiming he is the real person.
Your server (i.e. with fingerprint) does exactly this.. I steal a mobile, initiate a transaction using the shared secret and the fingerprint data on the mobile.. and your server happily signs it.

You are right. Well nearly. Some sensitive information is definitely saved on the client side. But it’s not the full information, meaning that stealing it does not allow the hacker to spend it. (unlike private key)



It’s encrypted by the client and stored encrypted on the server. The server cannot access it.


For starters, with our solution the attacker must spend the money through our services which gives us another point of intervention.
Secondly, getting past Apple authentication is not easy, as shown with the FBI-Apple case https://en.wikipedia.org/wiki/FBI%E2%80%93Apple_encryption_dispute (and most attackers are not FBI grade)


Our solution makes the attacker mission much harder: Instead of needing to 1 piece of secret information, they now need to get 2 pieces of secret information stored in different places. Of course, once they get 1 piece then they need the other piece. This is the same as claiming multiSig is irrelevant because when you steal one key, then it’s not multisig and you need just one extra key.

Btw if you want to try for yourself we have a fun security challenge with 1BTC for you if you manage to get in. And we make it very easy for you to get in. https://zengo.com/the-zengo-challenge-win-1-btc-and-prove-us-wrong/

We invite you to try it. Also check out our github, all the cryptography is open source...

How can you claim that the user does not have to store/protect a 'private key' (which basically just is sensitive information) if in your concept the user has to store and protect a 'mathematical secret' (which serves as sensitive information).

That's basically the same. Each wallet has to store sensitive information.

Your concept just creates more security flaws than it solves.




Well.. your website says the following:


No. That's not true.

If the device is hacked or lost, the attacker can simply start a transaction.
All he needs to do that is 1) the shared secret and 2) biometric data.

Both can be found on the mobile. The data of the fingerprint is stored on the mobile.
The same applies to the shared secret.




Which makes it as secure as a web wallet (in this specific case only).

Your concept only creates downsides. A standard mobile wallet is - by far - more secure. By design.

The necessary secrets are split between the user’s device and ZenGo’s servers. It’s not correct that both are stored on the server. If either the server or the device is hacked or lost, the funds remain secure. I'll say this again, even if someone hacked ZenGo’s server, the user would stay protected. There is no single point of failure.

The biometrics are based on ZoOm technology. It’s extremely secure. A printed picture is completely ineffective as it fails to pass the liveness. Even 3D masks are ineffective.

What the hell is this approach...
That's even worse than a web wallet.



So many points of failure..



I really can't believe what i am reading here..

So.. both of the 2 necessary secrets are on your server.
The decryption key is also stored online.

And oh.. i forgot.. the bio-metric features of a mobile phone are sooo secure.
You guys realize that most of them can be circumvented by holding a printed image in front of the camera ?


I would NOT recommend to use that wallet. The whole concept is flawed.

An option you could consider is ZenGo

Zengo is the first wallet based on threshold cryptography. ZenGo eliminated the need for a private key while still remaining non-custodial.

Mashable just covered the wallet.

coinfunda, since you ask for long term holding this should mean that you have or want to buy some bitcoin and forget on it for few years. I am not sure why the hardware wallet is not option, but I guess it is because of price. Although the prices have dropped fairly in comparison to a year ago or two, for some users even $50 is still too expensive. But if you invest a few hundred dollars in BTC, investment of $50 in security should not be a problem.

If you still want some solution for free, any desktop wallet will serve the purpose, you only need to pay attention what you downloading and from where. Most wallets are safe, but problems is in users who not use them in the correct way.

There is no such thing as “the best bitcoin wallet.” But undoubtedly, hardware wallets are a great option. But if you don’t want a hardware wallet, you can consider paper wallets. In the paper wallet, you print out a sheet of paper with your private and public keys, which is stored in the form of QR code. Also, these wallets are not connected to the internet that protects it from hacker theft. 

Also, you can refer to this guide here “Choosing the right digital wallet to store your cryptocurrency.” It will surely help you.

https://www.altcoinsidekick.com/bitcoin-basic-blog/choosing-the-right-digital-wallet-to-store-your-cryptocurrency
 

Are you guys really suggesting to use a web wallet for long term storage ?

This is probably the worst of all possible ideas..




Jaxx is not good either. Jaxx doesn't protect your private keys at all.
Once, someone gains access to your computer, your funds will be gone.

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@OP
If you want to hold your coins long-term, without accessing them frequently and don't want to use a hardware wallet,
you should either use a dedicated offline device (e.g. old laptop / computer) or a paper wallet.

Long term storage doesn't require your wallet to be connected to the internet at all. It is way more secure if you store it completely offline.


You don't even need to create a 'traditional' paper wallet (which can be quite tricky to spend from regarding change addresses etc.).
My suggestion would be:

• Download a live linux distro
• Boot into your live linux
• Download electrum
• Verify the signature of electrum to make sure you have the original one and not a malicious fake version
• Create a wallet in electrum
• Write down your 12 word mnemonic code (this is used to create all private keys associated with this wallet)
• Write down one (or multiple) addresses of your wallet
• Make sure you have your 12 word mnemonic code!
• Shutdown your live linux and format the USB
• Profit.

Then you'll have your 12 word mnemonic code which can always create the necessary private keys to spend from your addresses.

If you want to access them, simply again use a live linux distro + electrum with your backed up mnemonic code. You won't have to worry about change addresses because they are included in your seed (derived from the 12 word mnemonic).


Note, that you don't have to actually use electrum. You could also use any BIP39-compatible wallet (for more compatibility in the future).
Even though electrum does not generate BIP39 mnemonic codes, you will still be able to always derive the seed from the mnemonic. Even if electrum doesn't exist anymore by then.

There is the traditional bitcoin core client, but it can take a long, long time to download the entire blockchain. I have had pleasant experiences with GreenAddress and Jaxx, but I recommend you store the passphrase in case your software crashes or your computer becomes inoperable. Storing the passphrase in a safe place is critical.

The most secure wallet is hardware or preferably paper wallet but thsi depends on the individual involve in the storage. Protecting wallet against hacks are the sole responsibility of the holder. Whatever wallet an individual uses and protect to me looks good as best, so, protecting the wallet make it the best.