Bitcoin Forum

Probably a stupid question, but am i correct in thinking that I can connect an external hdd and install my wallets (bitcoin, dash, litecoin and etherium) onto the hdd which will then sync the blockchain whenever I connect the hdd and open the wallets?


So this would technically be a form of cold storage?


Also.. if i have already installed my dash and litecoin wallets onto my macbook, should i bother copying the install/root/files over to the hdd or should i just download a new wallet onto the hdd, trans all the coins and do it that way?


Hope this makes any sense

The main problem with your idea is that if your computer already has a virus, your coins can be stolen anyway.

What makes a hardware wallet safer than most regular wallets is the way they operate isolated from your computer and your wallet files are probably never exposed, while it doesn't make any difference if you are using a external HD instead of your regular computer drive.

To make your idea safe, you would need to disconnect your internet before connecting your external HD into your PC.

About your second question, I don't think it makes any difference. But you can transfer your coins to a new wallet that has never been exposed to the internet if you want to be 100% safe.

Similar response to try ninja there, just make sure that the computer is secure but in order to download the blockchain you do need internet so when connecting just in case their is a virus try to have a sandbox for it to open and connect to the internet with.

Having that kid of wallet on a external HDD is a big no no for me , because it can easily be corrupted by a virus or it can be lost to your hand by some reason.  It is very risky to use wallet like that, The good thing about that wallet because it is a portable wallet , You can bring it anywhere and have access to it. Its just the risk of having that.

Some how you got a point, but isn't it the same with desktop wallet, or smartphone wallet?  Same goes with the hardware wallet when it comes to being lost.  I think  it would be best to have back up to different storage incase the external HDD is corrupted.  Besides the only important in that files is the wallet.dat. If it is not much it is also best to save the private key of each wallet address OP is using.

What if the hdd got infected by virus or the hdd crashes, then you loose all your coins? I think the best option is to find a physical wallet or backup your hard drive into different places and store those, just in case something happens to your HDD.

Yes, You can connect, but you have to make sure that your computer is safe before connecting your wallet! I guess that online wallets with 2fa authentication/email authentication can be safer than that every time you login your wallet it will ask you to confirm email there are many more security options you can add (blockchain.info)
In my opinion you should save your DASH and litecoin wallets separately. It would be good in my opinion.
Also, As TryNinja mentioned you should disconnect your computer from internet first then do anything.  Offline wallets are much safer in that way.

No matter what kind of wallet you used please have a backup. You need to backup your wallet and stored them in safe place if you want to upload it then you must encrypt it, encrypting your wallet is a good way to protect your backup from something dangerous. Hdd wallet might be a good way for storing bitcoin but it can be lost or damaged that's why you need to backup your wallet as well as smartphone wallet.

Another newb question: How do you back up your wallet? why writing down the random words it generates for you?

Every HD wallet has a unique combination of words called seed that can be used to recover your wallet with all your addresses in case you lost your device. How to back up your wallet? Just write those words in a paper or encrypted txt file and don't lose them.

Most of the answers given here are confusing the OP.

All you have to remember is to store your private keys offline. That's it. The Bitcoins you "own" are not really coins but they are entries in the ledger that you control through the private keys.

You could install an operating system in your external drive, then boot using the external HDD and use your wallet and sync if needed. Still not 100% because there is always the possibility that a virus may be hidden in the BIOS or in the hardware from the factory.

Just make sure you never plug the external hardware in any computer and don't forget to make backups

The safest way to store private keys (address:privkey):
I would not trust "wallets.dat" anymore got one corrupted once, then having a plain text (preferably encrypted) backup of private keys seems a good idea.

OP, this is a good starting guide for what you want to do. https://www.weusecoins.com/bitcoin-cold-storage-guide/

All you have to do is understand and follow the instructions in that guide. But before you send Bitcoins in your wallet, make sure to test everything by sending small amounts.

I hope this helps. Good luck.

What is wrong with a Ledger Nano S or a Trezor?

Those seem a lot more secure and a lot easier...

A lot safer..


As cheap as an external drive as well... Plus the seed mentioned above in another post  8)

I'm not sure where he live but it must be the price and availability. At least to me, that's the reason I don't have a hardware wallet yet.