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Author Topic: Safest wallet ?  (Read 912 times)
Mystezi
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January 29, 2018, 02:45:08 PM
 #21

Actually the safest wallet to keep your bitcoins is actually a hardware wallet (Cold storage). Hardware wallets are actually small devices that connect to the internet just to enact transactions only. They are very secure as they are often kept off the internet system and thereby not hackable .Examples will be Trezor T or Legner Nano S. I personally prefer Legner Nano S.

For a online wallet ,i personally prefer Jaxx as it allows me to keep my private keys to myself. However , such wallets are prone to hacking as there are based online. So it will be advisable to scan your computer for malware every now and then.

For exchanged linked wallet, Coinbase is a good wallet then have 2FA protection ,Email protection and IP address notification.


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January 29, 2018, 07:23:54 PM
 #22

No one wallet could be better then Hardware. IMHO (In my Humble opinion)

best Bitcoin hardware wallets are:

  • Ledger Nano S
  • TREZOR
  • KeepKey

Don’t worry about your hardware wallet getting stolen, lost or damaged either; so long as you create a secret backup code, you can always retrieve your bitcoins.

Why are hardware wallets good?

  • Easiest way to securely store bitcoins
  • Easy to backup and secure
  • Less margin for error; setup is easy even for less technical users

Why are hardware wallets bad?


  • They're not free!

Stegobit
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January 30, 2018, 04:53:35 AM
 #23

No. Never upload wallets to the cloud. That's a horrible idea.
Why? If you have encrypted wallet with good password, cloud service provider will never access your bitcoins.
However, if you keep wallet on your PC HDD/SSD or other media, you can lose your bitcoins forever if some force majeure event occurs (fire, floods, explosion, police raid where your PC seized etc).

Actually the safest wallet to keep your bitcoins is actually a hardware wallet (Cold storage). Hardware wallets are actually small devices that connect to the internet just to enact transactions only. They are very secure as they are often kept off the internet system and thereby not hackable .
They are vulnerable to the same force majeure events mentioned in previous quote (if you haven't made a backup in the cloud).


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January 30, 2018, 05:34:55 AM
 #24

I always don't like the term "Wallet", because when in fact it is only an access to your wallet. Remember, your coins are actually stored in the blockchain. What you have, whether Software Wallet in your PC, Web Wallet, Hardware Wallet, etc, is only used as an interface for accessing to see how much value this 'Wallet Address' currently have.

So, depending on what type of Secret Key that software uses, it can be restored to another software which uses the same protocol.

Ledger, for example, uses BIP39, so if you've lost your Ledger, you can use the same Secret passphrase to restore another Ledger, or another software which uses BIP39m like Mycelium (according to Ledger's official website). This also means that if someone saw your secret passphrases then they have access to your wallet as well.

Web-based Wallet - the web owner has everything. They are holding the keys. The address does not even belong to you. So lets say that the web wallet flies, then you have no chance of getting anything back. Additionally, 2FA is only one level of protection to your account only, which if the hacker hacks into the web, then 2FA is meaning less, since the hacker gain control of every thing and simply can disable the 2FA or bypass it.

Exchange Site - don't store anything here for long... just only when to make the trade. Should not be used as a permanent wallet.

Software Wallet (in your PC) ie, Exodus, Jaxx - again, a little more safer than the Web-based Wallet I think. It seems like you have the control, but you actually don't.... (I could be wrong)

That being said, if use properly, I think that Hardware Wallet is the safest bet. Like not buying from someone else other than trusted source (official retailer, etc), don't lose your keys, don't let other people see your keys, avoid connecting to other people's PC, etc. I personally have a spare old Macbook which is installed with Ubuntu, and it is only used for this purpose only, not even opening any emails or open any other website.
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January 30, 2018, 05:40:23 AM
 #25

Can anyone recommend me safest wallet ? some wallet that is having e-mail confirmation protection ?

For email confirmation I guess you are referring to an online wallet or an exchange maybe, I know Poloniex exchange has that functionality.
Blockchain.info and coinbase are also good options if you want online wallets.
But I wouldn't recommend using an online wallets, its better to go with a desktop/mobile option or even hardware wallet like trezor.
For desktop electrum is the most supported and for mobile, mycelium has the most audience support.
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January 30, 2018, 11:24:24 AM
 #26

No. Never upload wallets to the cloud. That's a horrible idea.
Why? If you have encrypted wallet with good password, cloud service provider will never access your bitcoins.
However, if you keep wallet on your PC HDD/SSD or other media, you can lose your bitcoins forever if some force majeure event occurs (fire, floods, explosion, police raid where your PC seized etc).

Encryption is not that rarely broken and cloud services have a lot of computing power. Although risk isn't super high. it is still not negligible in my opinion.
Encryption of wallets is crucial, but their secrecy is still a very good addition to security.

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January 30, 2018, 05:22:18 PM
 #27

No. Never upload wallets to the cloud. That's a horrible idea.
Why? If you have encrypted wallet with good password, cloud service provider will never access your bitcoins.
Your password leaks somehow, somewhere: Most intelligence agencies in the world have access to your wallet.

However, if you keep wallet on your PC HDD/SSD or other media, you can lose your bitcoins forever if some force majeure event occurs (fire, floods, explosion, police raid where your PC seized etc).
No. Local backups > cloud backups. Data loss on the cloud isn't unknown. Keep backups at multiple locations to avoid the mentioned events.

Encryption is not that rarely broken and cloud services have a lot of computing power. Although risk isn't super high. it is still not negligible in my opinion.
There's also this.

Blockchain.info and coinbase are also good options if you want online wallets.
But I wouldn't recommend using an online wallets, its better to go with a desktop/mobile option or even hardware wallet like trezor.
Horrible two suggestions.

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EcuaMobi
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January 30, 2018, 10:10:36 PM
 #28

You can also consider storing your BTC in a deck of cards as offline storage:



https://ecua.mobi/deck-wallet/
https://bitcointalk.org/index.php?topic=811397.0

Stegobit
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January 31, 2018, 06:04:24 AM
 #29

Your password leaks somehow, somewhere: Most intelligence agencies in the world have access to your wallet.
If you use LiveCD Linux, it is almost impossible. Can happen only if you are person of interest for them and they have installed hardware keylogger or other spying device into your PC.

Encryption is not that rarely broken and cloud services have a lot of computing power. Although risk isn't super high. it is still not negligible in my opinion.
I don't think it is easy even for NSA to crack 30 character password for VeraCrypt container with AES-Twofish-Serpent cascade encryption.
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January 31, 2018, 06:31:54 AM
 #30

Your password leaks somehow, somewhere: Most intelligence agencies in the world have access to your wallet.
If you use LiveCD Linux, it is almost impossible.
You literally suggested cloud services for backup, now you suddenly switch toLinux live CD. Please stop giving advice here.

Can happen only if you are person of interest for them and they have installed hardware keylogger or other spying device into your PC.
Everyone is a person of interest for NSA and every single both Intel and AMD CPU has a backdoor.

I don't think it is easy even for NSA to crack 30 character password for VeraCrypt container with AES-Twofish-Serpent cascade encryption.
So naive. Roll Eyes


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KonradKarl
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January 31, 2018, 07:31:57 PM
 #31

Best wallet for me - is a hardware wallet.

1) Ledger Nano S
2) Trezor
3) KeepKey

These wallets that I've used. My favourite is Ledger Nano, but it has some problems with memory (you can't keep a lot of apps installed there).

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February 01, 2018, 02:36:16 AM
 #32

You literally suggested cloud services for backup, now you suddenly switch toLinux live CD. Please stop giving advice here.
I mean to boot from Linux LiveCD and download wallet from cloud, then make a transaction.
This strategy minimizes risk of trojan malware that you have caught somewhere.

So naive. Roll Eyes


How does cloud service owner will use rubber-hose cryptanalysis?! Very interesting...!  Grin
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February 01, 2018, 07:21:04 PM
 #33

My favourite is Ledger Nano, but it has some problems with memory (you can't keep a lot of apps installed there).
I wouldn't call it a *problem*, rather a inconvenience. That was probably intentional in order to: a) Sell Gen 2. b) Cut production costs.

I mean to boot from Linux LiveCD and download wallet from cloud, then make a transaction.
This strategy minimizes risk of trojan malware that you have caught somewhere.
Trojan =/= malware. Trojan's are a subset of malware. Either way, while being beneficial to security, that does not guarantee anything.

How does cloud service owner will use rubber-hose cryptanalysis?! Very interesting...!  Grin
Upload to the cloud = upload to your nearest intelligence agency. They will know what to do. Smiley

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February 02, 2018, 05:59:36 AM
 #34

Upload to the cloud = upload to your nearest intelligence agency. They will know what to do. Smiley
If you have uploaded VeraCrypt file container, cloud provider and intelligence agencies it collaborates won't even know what type of data you have uploaded.
Have you heard about steganography?!
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February 03, 2018, 01:52:19 AM
 #35

Can anyone recommend me safest wallet ? some wallet that is having e-mail confirmation protection ?
Ledger Nano S is a Bitcoin hardware wallet, Ethereum and Altcoin-based secure features for cryptocurrency storage and security for coin. It connects to any computer (with a USB port) and has an OLED screen to verify and confirm each transaction. Ledger Nano S supports the storage of multiple currencies such as Bitcoin, Litecoin, Ethereum and Altcoins in the same wallet.


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jokowi
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February 03, 2018, 01:56:14 AM
 #36

Can anyone recommend me safest wallet ? some wallet that is having e-mail confirmation protection ?
Ethereum cold wallet on Coinbase. Coinbase allows you to access your wallet and supports multiple coin stores such as Ethereum and Bitcoin. Coinbase wallets are simple to set up and very easy to use

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rext
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February 03, 2018, 01:56:48 AM
 #37

Can anyone recommend me safest wallet ? some wallet that is having e-mail confirmation protection ?
TREZOR cold wallet is one of the safest electronic wallets. It has the ability to store multiple types of cryptocurrency and ERC-20 token. If your account is lost, you can regain access to your lock, assets, history, email and account. This is a reliable Bitcoin store that is safe and secure without any risk.

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MarkZuckerCoin
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February 03, 2018, 02:56:31 AM
 #38

Can anyone recommend me safest wallet ? some wallet that is having e-mail confirmation protection ?
Isn't the safest wallet a hardware wallet? make sure to buy it at the official site instead of ebay because there was a ledger nano s scam going around and its kinda scary. hardware wallet has the best security !

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deevan
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February 03, 2018, 12:27:11 PM
 #39

Meta mask ERC-20 Compatible wallet is also very good wallet , it is installed as chrome extension. One benefit of this wallet is that it protects you from phishing sites.
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February 04, 2018, 12:38:03 AM
 #40

online wallet  -  blockchain.info
Or ledger.
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