Bitcoin Forum

I am not so much on the techie side so pardon the noob question.  I am planning to purchase an external hard drive so I can just install there my wallets and for mobility.  Is this advisable?  If not, please give alternatives for someone like me who's always on the go.  Thank you in advance!

I wouldn't. The main problem isn't with the compatibility, etc. In fact, most of the wallets do actually offer a portable version. The main issue is with the security.

If you're going to bring the portable wallet around, you could very well be losing it if you forget to bring it along after using it on the computer. Public computers aren't exactly safe at all, using your wallet on it could very well have it being compromised. If you need portability, consider getting a mobile wallet on your phone; doesn't address the first point but it addresses the second.

A portable hard drive is relatively heavy and unreliable at times. It's not rational to be bringing around a bulky metallic case when your main function is to have a portable wallet. Hard drive (not SSDs) are very prone to failure if you drop them.

I appreciate the insight about the topic. What about hardware wallets? Since they are made specifically to store crypto coins, are they still not adviseable to some extent?

Personally, I feel that they aren't suitable to be used on public computers either. They are definitely a lot better than bringing around your wallet file to use it on public computers though.

Hardware wallets are certainly designed to prevent any malware attacks against the wallet itself and the private key is never exposed. However, for certain hardware wallets, your setup has to be done on a secure computer. As long as you don't key in anything sensitive on a public computer, you would be safe. Your privacy would still be compromised however.

Generally speaking, you can rely on your hard drive for three to five years on average. The online backup company BackBlaze

analysed the failure rates of their 25,000 running hard drives. They found that 90% of hard drives survive for three years, and

80% for four years. Those hard drives were running 24/7, so I presume a external hard drive will last much longer, if used

less.  ???  The standard hard drive warranty runs about 3 years.  ::)

Hardware wallets is a good pick, but a expensive one. If you're worried about security, learn something about paper wallets and you'll be fine. Do some for each coin  that is possible and chill. One more hint is don't store everything at same vault, split your coins into some wallets, so if some one crack it, you'll lose only some coins and not all of it.

Jaxx is a good wallet but it has a security flaw so I installed on it own MicroSD
and run it from a android  phone.

Exodus on windows exports private keys to a CSV file and puts it on the desk top
with some stupid name like "Private-Keys come get them" which seems stupid
to me since Microsoft Windows is scanning file contents all the time.

They should put it on the clip-board or let you cut-en-paste it so you can split the
private keys into two half's before pasting

The Nano S seems well over prices too me and the price keeps going up

So is it safe to say that if I have my own computer/laptop to use, then a hardware wallet will be perfect for me?  Please cite the ups and downs for such scenario.  Thanks again!

What's your personal recommendation for the wallet? I am leaning towards Nano S but I want to see more options and not rush into it.

yes , why not... all everything is passible as long as you can protect your account and not to lost either...but must be a back-up also not just in hard drive only. in case of lost or damage your hard drive you still have a copy by your owned and make it safe in case of stolen or lost they cannot thief your account and stil safe no matter what happen there is a choice because it is yours not for the other.

The prefect screnerio will be this, setup you hardware wallet on your not compromised laptop. Then you are free to use the hardware wallet on any computer, even the ones that have virus in.

Is it too tiring to just put your coins on a different wallet, it will somehow create a confusion to the user although it looks like a good advise but buying a lot of hardware wallet will cost you more i guess rather putting it on a single wallet. But for me i would rather prefer the paper wallet instead of hardware a wallet, i just think it is comfortable and safe.

Make sure you have backups on backups in different locations. Also make sure if you have anything 2FA that there's more than one number to get access

If you are thinking of downloading your wallet to a cold wallet aka hardware wallet. I suggestion you reformat your drive and create at least two copies. For example a USB with nothing on it and of good quality. Keep in a safe place and check it often to see if it up to par. Never use a desktop wallet.

In my own perspective it is not advisable to install wallets from your hard drive just in case it can be  corrupted with virus because if you will accidentally connect it to a device infected with virus such as Trojans then your dead. If you are just putting a little amount of coins then better to choose legit web wallets, but, if it will be a huge amount then desktop wallets I prefer.

I don't see any problem with storing your wallet files on an external hard drive, assuming you take the proper precautions when securing the drive itself. E.g. You can encrypt the files within a password protected archive, or simply use a password protected drive such as the following.

https://www.amazon.com/lepin-Military-AES-CBC-Encrypted-Advanced/dp/B06X6NP89Y/ref=sr_1_11?ie=UTF8&qid=1516345200&sr=8-11&keywords=password+thumb+drive

Of course, you could simply use a trezor or ledger hardware wallet.

Hardware wallet would probably work but there are better ways to keep offline wallets as well. Such as a paper wallet. you can generate and print one from http://bitaddress.org/ for example. If you insist on electronic storage, I'd recommend a usb-stick over a hard drive. Also, don't use the bitcoin.org software for that wallet, it's a pain in the ass to use that way. Multibit, for example, would work better.

While that would most likely work, There are better approaches to keep disconnected wallets also.

for ex:

In the event that you demand electronic capacity, I'd prescribe a usb-stick over a hard drive. Likewise, don't utilize the bitcoin.org programming for that wallet, it's a genuine annoyance to utilize that way. Multibit,for case, would work better.

If you are installing bitcoin wallets on external hard drive for the sake of mobility they why dont you try it with hardware wallets.It is smaller than portable hardrives so it can fit into a pocket even.So buy a Ledger Nano S,I think it will cost around $60-$70 but it is cheaper than portable hard drive and you can store multiple coins in hardware wallet and it provides ultimate security than any other kind of wallets.

Bring your own laptop, or buy a small lightweight laptop for your travels. Netbooks weigh 1 kg and don't cost much.
Don't carry around all your crypto holdings, bring only what you need for your trip, and leave the rest in secure storage elsewhere.

Obviously, you'll need to make backups. You should be able to lose your portable device at any moment without losing any coins.

I have a BIP38 encrypted paper wallet in my wallet, it used to be worth enough for a tank of gas, by now it holds enough Bitcoins to buy an average laptop.
For wallets, I prefer to use my PC, but for mobility, I also have Mycelium installed on my phone. The paper wallet in my wallet is much more secure than my phone, and I'll only touch it if I ever need to use it.

You could bring a Linux LIVE DVD, or even make the external hard drive itself bootable. That way, you can quite safely use it at any computer, but I don't think many people would let you use their computer to startup your own OS.
But I wouldn't let anyone plug his USB-drive into my PC to start up his own wallets anyway.

If you're concerned about security you can use hardware wallet, there are this that comes in usb stick. If you are planning to keep your bitcoin for like a year or two and not planning to move fund from there then it is advisable.  Hardware wallet would work for people who wants to invest coz its not so convenient for you to get funds from it. It's also secure, don't forget to have a backup though.

I would instead recommend purchasing a hardware wallet, than using an external hard drive to store your wallet files.

There are two main ones available, the trezor: https://trezor.io/

Or the Ledger (preferably Nano S): https://www.ledgerwallet.com/products/ledger-nano-s

Currently the Nano S is sold out, but you can still purchase them from overpriced resellers. Using a hardware wallet is much safer, due to the encryption and password protection they offer, hence are not as easily compromised as an external HDD. Plus, they support multiple coins, unifying your assets into one easy to access place.

I think it's a good choice for a mobile person who do travels a lot, but never store all of your coins in one place as it have a higher risk to get stolen, hacked, etc.

But aren't paper wallets vulnerable to malware? Especially the unencrypted ones? Unless maybe you have a special multi-key paper wallet, but for that you would have to find a reliable and qualitative generator of mnemonic code. Quite apart from the fact that the printer can be unsecure and have an internal storage, which might be hacked.

Not if you generate and spend them securely.
They are more vulnerable to physical theft. Else, their risk from malware is the same, unencrypted or not.

It's not hard to create a multisig with paper wallets. Spending them will be a hassle however.

Generally, its quite hard for printers to be hacked if they aren't connected to the internet. If you're scared of side channel attacks (pretty infeasible), then cover it with a tinfoil and do it in an isolated room.

One more consideration in using hard drives for storing coins is that hard drives fail. They have motors, bearings, and such and are prone to physical damage if dropped or banged around. A solid state drive may be a better option - there are even some out there that have built-in encryption so they can't be accessed without keying in a password on the built-in  keypad. That is what I use.

No wrong with that, but make sure that you can secured your wallet, other than that you need to always keep your external because there's a lot of Intruders in the whole world so there's a possibility to hacked it. Moreover it depends to you if how can you handle or protect your external, maybe you can encrypt to assure that your wallet is secured.

Yeah, you can do that but remember if you forget the disk somewhere or lose it then all your BTC is gone...

Or you can do this thing create a symlinks folder on Windows to move:

Step 1. Delete or move "bitcoin" folder in "C:\Users\%user_name%\AppData\Roaming".

Step 2. Open cmd and enter this command: MkLink /J "C:\Users\%user_name%\AppData\Roaming\bitcoin" "NEW_LOCATION_PATH"

Example, I want to move to (F: or G: whatever your external drive name is)F:\bitcoin. My command is MkLink /J "C:\Users\%user_name%\AppData\Roaming\bitcoin" "F:\bitcoin".

Step 3. Check in "C:\Users\%user_name%\AppData\Roaming\bitcoin\". If you see "bitcoin" folder, it means that you create successfully when you open this folder, it will open folder in "NEW_LOCATION_PATH" (If not successful try it 2-3 times)

Step 4. cut and paste all data from the old folder to new folder.

Step 5. and after that start the Bitcoin wallet application from whichever portable device you like.

yes it is tand that is safe and back up but make sure that you can handle properly and keepsafe and secure and put every detail of your account. but if your attitude is absent minded don't do it just steak what you have now. rather than someone will take your account.

As long as the external as encrypted with a strong password inputted and security program installed to prevent any viruses or hackers affecting all the programs in your external hard drive. And also, if you dont use your hard drive in public places to prevent too much exposure which can endanger your hard drive into a greater risk. So as much as possible this is really not that advisable.

Agree with you mate, you need to installed program for antivirus to avoid corrupted files and make your external run smoothly.

I think it is ok to put your offline wallet in your external as your backup, what ever happens in your computer you can recover it using your external hard drive also you can used that anywhere else just only do regular backup in that wallet.