Bitcoin Forum

Hi folks.

So, making multiple backups of bitcoin or ether wallets...if the wallet is encrypted, is it acceptable to store a backup on something like dropbox or google drive? Assuming a very strong password, what is the potential drawback of doing this?

Thanks.

Yeah it's safe enought. If the files are encrypted you can store them anywhere. Just don't forget your password and you will be fine.

I don't think it is necessarily to make other wallets, one to two is just enough for me but if you really like to make other wallets you can do it and it is free, and I think google drive is more secure than drop box for the pros and cons of this kind of storage I don't really suggested it, in my opinion I'd rather get hardware wallets than backing up encrypted wallets.

Hum....... if it is a solid passphrase.. it should be..

It's okay, I guess. I just recently got a multibit desktop wallet and during installation, they strongly recommended backing up my wallet to a cloud storage. Said it would make it easier for recovery, so I guess backing up with cloud is okay. Just make sure to use a very strong password, an email for the cloud that you'll use specifically for wallet backups, and a password that you don't use anywhere else.

Drawbacks? It's an added avenue for leaks or attacks? Another thing you gotta keep absolutely safe and protected.

You should not keep your back up of your wallets only in web based services like cloud of mega, google etc. You should keep a few copies of these back ups in some usb-s cd-s and other good storage device. You can opt to shrink your hard drive and create a small partition of 10 GB only to keep all your back ups.

I personaly keep my backup encrypted file on google drive, not only that i also keep them on my flashdisk,HDD and my computer the point is use many secure locations. Anyway I don't used dropbox since they only giving you free trial for 1 year after that you need to pay in order to get access to your account while google drive giving your free access for 15 gb,  i might looking for another free cloud storage service.

I assume that you still have a few FIAT dollars lying around somewhere, probably a bank or vested as a credit line.  Take your bank account info for your FIAT account, including the account number, usernames for your online access and password, include relevant security info, like mother's maiden name or whatever and put all that into a text file.  Zip or Rar the file, whatever you choose and lock that with a 256 bit encryption.  Now, where ever you feel safe storing that file, you can store your Bitcoin wallet or whatever coin wallet there too.

But, keep in mind it is not just about someone stealing the info, keep in mind that if that zipped file is the last copy and you lose access to it or damage the file to where it cannot be recovered, then you can NEVER access your bank account and the funds that are in it ever again.

I guess google drive will do, you can store anything that will not exceed the free 15gb storage while dropbox is free but it has an expiration date which is not recommended. Just make sure that this passwords you used is strong enough, just dont forget your password and of course dont try to lose your access to your google drive I mean your google account you used.

I do the same and haven't got any problem till now. You should only store them in trusted cloud storage services like google drive but don't forget to use strong password/paraphrase to encrypt your wallet file also you have to enable 2FA in your cloud storage account.

I already have local copies. I'm thinking about cloud storage for the case where there is a fire and all local copies (paper and digital) are destroyed.

In that case just encrypt your wallet back ups you will keep in cloud with a strong encryption program before putting them on cloud and you should be good in any extreme situation.
Please read this article before deciding which encryption program to use.
http://lifehacker.com/five-best-file-encryption-tools-5677725

Even winzip or winrar should do but just in case you need extra protection.

I am storing most of my wallet backups in the Google Drive. But I ave taken additional precautions as well. I have compressed the file using WinRAR, and have added another password to the RAR archive.