PSA: Don't buy "Cold Storage" wallets off eBay

[fluxer555]

http://www.ebay.com/itm/Bitcoin-Card-PVC-Plastic-Paper-Wallet-Durable-SAFE-and-SECURE-Cold-Storage/222557029319

When purchasing this, your private key should already be considered compromised. This is NOT cold storage, as the private key was generated by a means out of your control. While I have no proof that this seller is a scammer, they have all the power to be one, and by that virtue is being dishonest by claiming that these are secure.

If you want a real cold storage solution, refer to this guide.

[AtheistAKASaneBrain]

http://www.ebay.com/itm/Bitcoin-Card-PVC-Plastic-Paper-Wallet-Durable-SAFE-and-SECURE-Cold-Storage/222557029319

When purchasing this, your private key should already be considered compromised. This is NOT cold storage, as the private key was generated by a means out of your control. While I have no proof that this seller is a scammer, they have all the power to be one, and by that virtue is being dishonest by claiming that these are secure.

If you want a real cold storage solution, refer to this guide.

Ebay and crypto don't mix up well. In general anything that involves Paypal and crypto it's a great way to get yourself scammed. A lot of people pay for their crypto stuff in eBay and then they get chargebacks and so on, this has been happening since I got involved in bitcoin back in 2013. There's people even selling fake QR codes that aren't even related to crypto. They literally print some QR codes and claim it's a bitcoin wallet or some altcoin and sell it to people. I mean that is a new all time low, these people have no shame and I don't know why they still keep doing this. eBay needs to improve their monitoring policies for crypto.

[Karpeles]

If the cold storage devices may have been tempered if sold on Ebay, then how can we know if any other didn't the same, or the manufacturer, or a rogue employer of the manufacturer?

[BrewMaster]

If the cold storage devices may have been tempered if sold on Ebay, then how can we know if any other didn't the same, or the manufacturer, or a rogue employer of the manufacturer?

there is a big difference between something you buy from a reputable company that has been around for years and is planning on staying around and continuing to sell its product for years to come AND a random guy on eBay that is selling something weird and puts the name "cold storage" on it.

there is also a big difference between different types of cold storage. something that is printed on a paper unencrypted, or created by someone else is not as secure is when you generate it yourself offline using a trustable source like bitaddress and then encrypt it with a strong password and then give it to the third party to print/etch/... on some material.

[Kprawn]

Never trust large amounts to ANY third party wallet, when you do not have sole control over the private key. It is not

difficult at all to create your own cold storage, so why would you want to buy it on the internet, if you can do it on your own?

I would much rather buy a old second hand computer and printer and use that to create unlimited amounts of paper wallets.

Just destroy the equipment when you done and never connect it to the internet again.  

[hasmukh_rawal]

http://www.ebay.com/itm/Bitcoin-Card-PVC-Plastic-Paper-Wallet-Durable-SAFE-and-SECURE-Cold-Storage/222557029319

When purchasing this, your private key should already be considered compromised. This is NOT cold storage, as the private key was generated by a means out of your control. While I have no proof that this seller is a scammer, they have all the power to be one, and by that virtue is being dishonest by claiming that these are secure.

If you want a real cold storage solution, refer to this guide.

Yes you are right, I dont like the Combo of Ebay and Crypto. Actually you need to select something that is transparent, honest and secure.
Similarly this is also going on with classifieds like Craiglists, Olx, and Quikr. Criaglists have tons of fake email accounts  with fake telephone numbers too.
I will advice you that you dont use Bitcoin for Ebay,Craiglists or any other E-commerce site till that site is found to be honest and secure for doing bitcoin transactions.

[joseafonso123az]

If the cold storage devices may have been tempered if sold on Ebay, then how can we know if any other didn't the same, or the manufacturer, or a rogue employer of the manufacturer?

That's also what came up in my mind ! Even buying directly at the manufacturer, you are being sold something from someone who already might know your private keys. Isn't it the same when you buy on ebay and with the manufacturer? I think trust here is a real deal, and you should only do these buys with people that you can trust, or atleast appear to be truthfull and not with wrong intentions

[stompix]

If the cold storage devices may have been tempered if sold on Ebay, then how can we know if any other didn't the same, or the manufacturer, or a rogue employer of the manufacturer?

Basically you can't.
And then it comes down to reputation and trust.
Has a phone manufacturing company actively scammed it's customers? How are the percentages to fake phones sold on ebay?

It's kind of ironic that bitcoin, which heavenly relies in the faith of the users also requires lots of trust when dealing with 3rd party business or merchants.

[Iranus]

And then it comes down to reputation and trust.

No it doesn't.  It's an objective fact that they are lying about the security of their wallet, therefore any other features of their reputation are almost entirely irrelevant.

It's kind of ironic that bitcoin, which heavenly relies in the faith of the users also requires lots of trust when dealing with 3rd party business or merchants.

No it isn't.  To produce a paper wallet you don't need to trust anyone at all.  

You only have to trust anyone if you make that choice.   It's a trustless payment system and that has no relation to the people that a user decides to deal with.

even hardware wallet might be risky if the manufacture/developer decide to make backdoor.

True, but hardware wallets are somewhat different because their software is usually open source.  I would not trust a hardware wallet with closed source code.

[JasonXG]

Why would you buy a bitcoin wallet ? What advantage do you get? This is ridiculous. Unless its a scammer selling more value then it is like $1000 btc for $400. In which case it is a scam.

Bottom line is don't be stupid and If you buy a wallet that you deserve to lose it.

[patrik1012]

Yes, thanks for sharing I always think about it. I'm not into tech of cold storages and I think that computer tech professionals can modify so I think this can be lessen if you buy it to the verified sellers of cold storages.

[Filmmmakerr]

As a noob I tried to buy bitcoins from eBay year ago or so, got scammed big time and learned my lesson with anything crypto related to stay away from eBay.

[Pearls Before Swine]

Agreed.  People can buy ebay accounts and trust on them
means next to nothing.  Plus scams happen on ebay all the time.
You add bitcoin into the mix...yeah, don't bother with cold storage
wallets from any ebay seller. It isn't hard to make your own.