Storing my bitcoins !!

[bradders]

Regarding security and storing BTC for a long time, is my method safe ?

I have printed 10 paper wallets from bitaddress.org and deposited a small amount in each one. I have added the public key of all 10 addresses to my blockchain.info account as (Watch Only) just so i can see the balance of all paper wallets combined, I have then locked up the paper wallets in my safe...... is this a recommended way to store BTC ?

I'm not worried about some security factors such as "someone stealing safe" - "house burning down" - "printer storing print in memory", using my method is it impossible to have my BTC stollen ?

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[mirana12345]

So you used a third party (cloud wallet) to create your paper wallet ? I may be wrong but this doesn't sound safe to me ?
Couldn't you just create paper wallet locally,w/o the use of third party ?

[spazzdla]

If the computer you used to run bitaddress.org was connected to the web or has connected to the web again your coins have no longer been created offline.

I would never use a web based wallet for long term storage no questions asked.


The blockchain.info coins.. are not safe, that is that simple.  The bitaddress ones.. perhaps they are. 

[bradders]

How would i make a paper wallet locally, do you mean guessing the address yourself, i can't see this working....

In general though, do people use bitaddress.org is it untrustworthy ?

[Rude Boy]

How would i make a paper wallet locally, do you mean guessing the address yourself, i can't see this working....

In general though, do people use bitaddress.org is it untrustworthy ?

i read somewhere else that bitaddress.org might be create same address.

And if you want to create a paper wallet by offline, you don't need to guess the address/private key. All you need is just download the armory wallet and create offline paper wallet.

[spazzdla]

How would i make a paper wallet locally, do you mean guessing the address yourself, i can't see this working....

In general though, do people use bitaddress.org is it untrustworthy ?

No, not quessing.  

Download the web page bitaddress.org (there is a zip file link at the bottom of the front page)

Run the HTML on an offline computer.  You don't need to be connected to the web to run Internet Explorer or Firefox.

Create and encrypt the wallet on the offline computer.

PREFERABLY destroy the offline harddrive, IMO just make sure it never touches the web again.. although I am 100% for it's destruction.


THE IDEA IS not to type your passphrase on a computer connected to the web EVER EVER EVER EVER EVER EVER.

IF YOU TYPE YOUR PASSPHRASE ON A COMPUTER CONNECTED TO THE WEB CONSIDER IT COMPRIMSED.

[spazzdla]

How would i make a paper wallet locally, do you mean guessing the address yourself, i can't see this working....

In general though, do people use bitaddress.org is it untrustworthy ?

i read somewhere else that bitaddress.org might be create same address.

And if you want to create a paper wallet by offline, you don't need to guess the address/private key. All you need is just download the armory wallet and create offline paper wallet.

TECHNICALLY there is a small chance any wallet creates an address that has been created before and you'd have the coins in that wallet.

The odds however are

1 in 1.16 x 10 ^ 77....

[yenxz]

your safe bitcoin is depending of amount and how often you check it,and of course depending how you keep your data from hackres..

[OmegaStarScream]

If you aren't worried about the things you mentioned then you should be just fine and there is nothing to worry about really . Yes , bitaddress.org is trusted and well known however you should download the source code from Github , Turn off your modem to make sure you are disconnected (using a computer that never touched the internet is even better) , then run the script locally and do what you mentioned above .

[bradders]

Thanks for the device, I understand that i should have disconnected myself from the web to make the paper wallet.

Really though are the chances really low, i can't see there being much risk. I can only ever see myself having a few hundred saved in BTC ?

[Sir_lagsalot]

It's only a few hundred. I'd be super cautious if it were a couple thousand. But it's only a few hundred. Who'd search your printer for that amount? If someone robs your house, they might take the safe, or they might take something better, like a laptop lying around. Even if they open the safe, all they'd see was paper. Bitcoin isn't very well known around me, so the worst thing a robber could do is rip the paper, and luckily, I have made copies.

I used TrueCrypt to encrypt a container and store my paper wallets there, then i uploaded the container onto my google drive account. Is that safe enough?

[mirana12345]

Thanks for the device, I understand that i should have disconnected myself from the web to make the paper wallet.

Really though are the chances really low, i can't see there being much risk. I can only ever see myself having a few hundred saved in BTC ?

Attackers don't take picks, so if they get the chance, they'll take even a few bucks. But make no mistake, few hundred today is few thousands later on.
I only have about a 100$ worth of btc, but i still keep it in a wallet created offline, stored and copied in one memory card and one thumb drive, that are locked away.
Computer used was formatted afterwards.I don't like to take security for granted

[LiteCoinGuy]

Regarding security and storing BTC for a long time, is my method safe ?

I have printed 10 paper wallets from bitaddress.org and deposited a small amount in each one. I have added the public key of all 10 addresses to my blockchain.info account as (Watch Only) just so i can see the balance of all paper wallets combined, I have then locked up the paper wallets in my safe...... is this a recommended way to store BTC ?

I'm not worried about some security factors such as "someone stealing safe" - "house burning down" - "printer storing print in memory", using my method is it impossible to have my BTC stollen ?

you can also use a hardware wallet:

https://bitcointalk.org/index.php?topic=899253.0

[thefaucetrunner]

Get a paper wallet and bury it in a time capsule like one of these in your garden:

http://www.ridgequest.co.uk/Timecapsules.htm

http://www.amazon.co.uk/The-Time-Capsule-ULTIMATE-keepsake/dp/B00GYX8VQW

Lots of options!

[FrozenStrawberry.]

If you are storing a large number of Bitcoins, use a hardware wallet and put it in a bank safe.

[bradders]

Great advice guys, love the idea of a hardware wallet.

I think i will make an online paper wallet, currently i have less than £5 spread between them so i won't bother, i plan to buy more soon so will make a proper paper wallet then.

Out of interest where do you all get your BTC from, is it by Coinbase ?

[CoinSkipper]

I once heard of a guy who hid money underneath his fridge in Greece. I wonder if I could store a hard drive there with my cold wallet under there...

[bradders]

I once heard of a guy who hid money underneath his fridge in Greece. I wonder if I could store a hard drive there with my cold wallet under there...

Sounds like a plan 

[David Rabahy]

To be crazy safe;

0) examine yourself for bugs as thoroughly as possible; remove and destroy, i.e. burn/melt, any you find; you can enlist someone, e.g. doctor with x-ray machine, to help but that adds risk
1) get 256 uncompromised pennies
2) strip
3) go into a room by yourself; close the doors, shut the windows, close the drapes, etc.
4) turn the music up as loud as you can stand it or it goes
5) get completely on and under an opaque blanket handmade at the last moment for just this occasion
6) with your eyes closed, toss each penny one at a time and record the result, do not use the same penny twice, do not toss more than one at a time -> private address
7) calculate (paper and pencil is best; using mechanical aids, e.g. slide rule, abacas etc., is second best, if you feel you must use an electronic device then better shielding than a blanket is recommended and physically destroy, i.e. burn/melt, afterward) the corresponding public address, double check your calculations, triple check
8) calculate the transaction and signature to move Bitcoins into that address
9) destroy all work, e.g. eat the paper
10) secure the private address (record of the 256 penny tosses), e.g. wrap in multiple layers of duct tape, also, secure yourself, e.g. get trained in self-defense; you can hire defense, e.g. safe, safety deposit box, bodyguard, etc., but these increase the risk
11) burn the blanket and melt the pennies
12) as quickly as possible enter the transaction into the Bitcoin network, watch for it to be confirmed at least 6 blocks deep
13) never examine the private address ever again until the moment you are ready to access the Bitcoins
14) make provisions to pass the private address to your beneficiaries upon your death or incapacitation, do not tell them about the stash in advance

tips: 1KhR5VQi3MhstyqAEPruDqWNWPcrLGukrS

[jonald_fyookball]

Regarding security and storing BTC for a long time, is my method safe ?

I have printed 10 paper wallets from bitaddress.org and deposited a small amount in each one. I have added the public key of all 10 addresses to my blockchain.info account as (Watch Only) just so i can see the balance of all paper wallets combined, I have then locked up the paper wallets in my safe...... is this a recommended way to store BTC ?

I'm not worried about some security factors such as "someone stealing safe" - "house burning down" - "printer storing print in memory", using my method is it impossible to have my BTC stollen ?

Impossible?  Not even close.
There are multiple attack vectors possible using bitaddress.org.

If you're storing coins long term, I don't see why you would
settle for anything less than cold storage.

Cold storage means using a computer that HAS NEVER BEEN ONLINE AND NEVER WILL BE.