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Author Topic: Paper Wallets  (Read 2047 times)
merelcoin
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April 20, 2016, 05:33:42 AM
 #41

Just a couple of answers/corrections to the last couple of posts:

1) it doesn't help storing your private key and address on two different places. All you need is the private key!!! The address isn't needed for spending bitcoins, if somebody imports the private key (and has never seen the address), he immediately knows the address and can spend all your coins. If you're completely paranoid, you might split the private key in different parts, store the parts in 3 banks, but make sure a combination of 2 banks always give you the complete private key (it's to early in the morning for the mathematical explanation).

2) it isn't needed to destroy the printer... Just make sure you connect the printer directly to your offline computer, and make sure it isn't connected to the network... Reboot the printer afterwards, if you're really paranoid: send a couple really big printing jobs to the printer afterwards and re-reboot and you're completely fine
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April 20, 2016, 03:35:06 PM
 #42

Just a couple of answers/corrections to the last couple of posts:

1) it doesn't help storing your private key and address on two different places. All you need is the private key!!! The address isn't needed for spending bitcoins, if somebody imports the private key (and has never seen the address), he immediately knows the address and can spend all your coins. If you're completely paranoid, you might split the private key in different parts, store the parts in 3 banks, but make sure a combination of 2 banks always give you the complete private key (it's to early in the morning for the mathematical explanation).

2) it isn't needed to destroy the printer... Just make sure you connect the printer directly to your offline computer, and make sure it isn't connected to the network... Reboot the printer afterwards, if you're really paranoid: send a couple really big printing jobs to the printer afterwards and re-reboot and you're completely fine

You can store a private key, in a way that it's not recognisable to the average person. If you break it up in different sections and hide it in a book or some other item, the average Joe will not know

what it is. If you put something valuable inside the box, like a gold coin.. someone will rather steal that and leave the paper work. There are many ways to store these private keys, without anyone

knowing what they looking at.  Wink

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April 20, 2016, 06:41:15 PM
 #43

paper wallet is key
so be carefull dont share key
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April 21, 2016, 09:53:45 AM
 #44

Why going all the extra steps, when a hardware wallet like Ledger Nano HW1 costs only 20 USD , if you have large amount of Bitcoins you should definitely get a hardware wallet, as far as I know they are the most secured one.

merelcoin
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April 21, 2016, 10:00:35 AM
 #45

Why going all the extra steps, when a hardware wallet like Ledger Nano HW1 costs only 20 USD , if you have large amount of Bitcoins you should definitely get a hardware wallet, as far as I know they are the most secured one.

I like paper wallets over HW wallets because i can store a couple of copys in different places (only with people/places i trust + with BIP38 encryption).
With a HW wallet, you can do the same for the seed, but it's harder to encrypt a couple of seed words, and if you do, you're basically making a "paper wallet" (eventough it's not a wallet, but a paper copy of the seed words).

Also, with paper wallets, you can make several, but if you have to buy several HW wallets, it might actually be pretty expensive.

I might be missing something here, but those are my 2 main reasons for sticking with paper wallets (eventough i might eventually buy a HW wallet to keep some "spending coins" safe... Keep my main stash on paper wallets, and keep my pocket change on the HW wallet)
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May 26, 2016, 11:31:51 AM
 #46

Are paper wallets really secure?
I want to hold some BTC and I want o secure the best way I can.
Besides paper wallets what other options do I have?

I think its secure than other forms of bitcoin wallet. In other options you can use online wallet from blockchains.info maybe, because they were reliable and safe course. thank you
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May 26, 2016, 11:36:09 AM
 #47

Are paper wallets really secure?
I want to hold some BTC and I want o secure the best way I can.
Besides paper wallets what other options do I have?

I think its secure than other forms of bitcoin wallet. In other options you can use online wallet from blockchains.info maybe, because they were reliable and safe course. thank you

I would never advise somebody to use online wallets... When using these you're not in charge of your private key, so you're not in charge of your coins. Also, you open yourself up to all kinds of attacks, be it phising, keylogging,...
A paper wallet is a pretty good way of securing your assets, but you do have to be carefull how you handle these paper wallets. This forum has plenty examples on how to deal with them.
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May 26, 2016, 02:30:52 PM
 #48

Are paper wallets really secure?
I want to hold some BTC and I want o secure the best way I can.
Besides paper wallets what other options do I have?

I think its secure than other forms of bitcoin wallet. In other options you can use online wallet from blockchains.info maybe, because they were reliable and safe course. thank you

Bro online wallets are normally not safe even Blockchain also same in that category! Yesterday when i searched in google for Blockchain I have found site address called biockchains.info Which is have same kind of page layout, design and everything. Please be careful about that.

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May 27, 2016, 01:51:06 AM
 #49

Paper wallet is more safe than other types of wallet. It is because you are the only one who knows where you keep it. You can keep it inside a book and put it inside a vault or whichever way you want. Unlike online wallets, remember that they have employees with them. If those people are bad they could steal your bitcoin.

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May 27, 2016, 05:20:18 AM
 #50

Paper wallet is more safe than other types of wallet. It is because you are the only one who knows where you keep it. You can keep it inside a book and put it inside a vault or whichever way you want. Unlike online wallets, remember that they have employees with them. If those people are bad they could steal your bitcoin.

Paper wallets you have to create it in a safe environment, and if used has to be safe to.  So risky to import your wallet onto a computer as it really gets rid of the offline security you had.

There are hardware wallets like Trezor that you could use and even if on a compromised system should not lose BTC.  This is due to signing being on the hardware device.  So paper wallets are great for longterm storage.   I just see using the paper wallet as kinda the weakness.
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May 27, 2016, 08:57:03 AM
 #51

Paper wallet is more safe than other types of wallet. It is because you are the only one who knows where you keep it. You can keep it inside a book and put it inside a vault or whichever way you want. Unlike online wallets, remember that they have employees with them. If those people are bad they could steal your bitcoin.

that is not why they are safe at all!
paper wallets are safer because there is no internet connection that can reach paper! so none of the common ways of stealing bitcoin (like hacking) works for it.

and also paper wallets are only safe if you have created them correctly. which means you have to generate the wallet (private keys) with the right code and on a clean computer which has always been offline.

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