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Author Topic: Suggest me Safest bitcoin wallet  (Read 5234 times)
jak1
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March 25, 2016, 02:08:08 PM
 #21

blockchain.info is a web wallet and it is safe but not the safest wallet you can find.

As they say they always get our password in encrypted form.is that really true?
that is correct. the wallet is stored on their servers as encrypted and opens up in your browser

is there service shuts down will i still have control over it?
since you can have the private keys and/or wallet exported, then yes you can have control by importing that into another wallet.

alternative:
use bitcoin core (it is full node meaning you have to download whole blockchain 7GB)
or use Electrum : SPV wallet meaning you only download block headers (30-40 MB)

blockchain.info  is the not the most secure online wallet. I have heard few incidents when people wallets were compromised.
I think Coinbase is a better choice when it comes to online wallet.
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March 25, 2016, 02:09:38 PM
 #22

Thank you but in which step i transfer my existing bitcoins to paper wallet that i created?
Can i permanently store in usb stick instead of printing?I think that would be more safe as paper can sometimes be easily lost or damaged.


Steps:
1) create the paper wallet, print it (or keep it on your usbstick)
2) scan the QR code of the PUBLIC key with your mobile, mail it to yourself, DO NOT scan your private key
3) transfer your funds to the public key (address) of your paper wallet, double check your public key before sending your coins
4) safety

If you ever need the funds:
1) install a mobile wallet on your phone
2) sweep the private key
3) use your coins, transfer the leftover ammount to a safe wallet (preferably a new, unused, paper wallet)

You CAN store the USB stick instead of printing it, but be warned: even an USB stick has an expiration Wink. Personally, i have printed my paper wallets (BIP38 encrypted), laminated them, and gave a copy to my brother to keep in his house.

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March 25, 2016, 02:10:01 PM
 #23

Hey there every1 i wanna know how can i safely store 6.xx bitcoins of mine? Please don't recommend hardware wallet as they are waste of money as i ak sure there are some other safe bitcoin wallets.I want a wallet that is independent means even if some service shuts down i still have control of my bitcoins.Is blockchain.info wallet safe? As they say they always get our password in encrypted form.is that really true?is there service shuts down will i still have control over it?Please help me friends how can i backup my wallet and store it in say usb drive and store it somewhere safe.is that possible? or any other best bitcoin wallet? and yet don't recommend desktop wallets which can easily be affected by malware

All you need is a $20 Ledger HW.1 hardware wallet but you seem too hard headed to take advice from members who have more experience than yourself. Hardware wallets are never a waste of money. Bitcoin stealing malware is becoming more common and stopped cold by hardware wallets.

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March 25, 2016, 02:35:17 PM
 #24

Plenty of safe ways to store your bitcoin's. You are responsible for ensuring your computer/devise is free of malware though.

Try bitcoin.org for a list of reputable ways/places to start.

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March 25, 2016, 03:08:05 PM
 #25

all wallet is safe( exchanger don't include) if you know how to make it secure, you just need to keep your pc free from virus or any malware,double your security level and don't randomly clicking a suspicious link,most of hacker do have access to your wallet from your email so have a different password is necessary

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March 25, 2016, 03:18:59 PM
 #26

all wallet is safe( exchanger don't include) if you know how to make it secure, you just need to keep your pc free from virus or any malware,double your security level and don't randomly clicking a suspicious link,most of hacker do have access to your wallet from your email so have a different password is necessary
we cant say that all wallets are safe as i heard that some people lost their bitcoins from blockchain.info wallets because of some security holes

i think the safest wallet is a hardware wallet such as trezor or something like that though i also use paper wallets
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March 25, 2016, 03:24:30 PM
 #27

Thank you but in which step i transfer my existing bitcoins to paper wallet that i created?
Can i permanently store in usb stick instead of printing?I think that would be more safe as paper can sometimes be easily lost or damaged.


Steps:
1) create the paper wallet, print it (or keep it on your usbstick)
2) scan the QR code of the PUBLIC key with your mobile, mail it to yourself, DO NOT scan your private key
3) transfer your funds to the public key (address) of your paper wallet, double check your public key before sending your coins
4) safety

If you ever need the funds:
1) install a mobile wallet on your phone
2) sweep the private key
3) use your coins, transfer the leftover ammount to a safe wallet (preferably a new, unused, paper wallet)

You CAN store the USB stick instead of printing it, but be warned: even an USB stick has an expiration Wink. Personally, i have printed my paper wallets (BIP38 encrypted), laminated them, and gave a copy to my brother to keep in his house.
Thanks again for explaining so well.
The one thing that's still confusing me is you told bitaddress.org generates wallet offline on client side.right? so say if it generates address X and it's unique private key Y
Now some other user on his own PC uses bitaddress.org offline version to generate it's own wallet then how would it know that  X address has already been generated by someone and it will not again generate the same address.I know may be this sounds stupid but please explain me?

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March 25, 2016, 03:37:48 PM
 #28

Thank you but in which step i transfer my existing bitcoins to paper wallet that i created?
Can i permanently store in usb stick instead of printing?I think that would be more safe as paper can sometimes be easily lost or damaged.


Steps:
1) create the paper wallet, print it (or keep it on your usbstick)
2) scan the QR code of the PUBLIC key with your mobile, mail it to yourself, DO NOT scan your private key
3) transfer your funds to the public key (address) of your paper wallet, double check your public key before sending your coins
4) safety

If you ever need the funds:
1) install a mobile wallet on your phone
2) sweep the private key
3) use your coins, transfer the leftover ammount to a safe wallet (preferably a new, unused, paper wallet)

You CAN store the USB stick instead of printing it, but be warned: even an USB stick has an expiration Wink. Personally, i have printed my paper wallets (BIP38 encrypted), laminated them, and gave a copy to my brother to keep in his house.
Thanks again for explaining so well.
The one thing that's still confusing me is you told bitaddress.org generates wallet offline on client side.right? so say if it generates address X and it's unique private key Y
Now some other user on his own PC uses bitaddress.org offline version to generate it's own wallet then how would it know that  X address has already been generated by someone and it will not again generate the same address.I know may be this sounds stupid but please explain me?
There are approximately 2^160 addresses that can ever be created. That's an extremely big number and an EXTREMELY EXTREMELY small number of Bitcoin addresses has been generated from the start till now. The probability of a collision is so small that there probably wouldn't be a collision before the earth cease to exist. However, if Bitaddress.org uses a weak RNG[1], this would be relevant since the address generated won't be random enough. Bitaddress.org records mouse movements. Hence, if the mouse movements is used in adding entropy(should be), it would be secure.

[1] https://bitcoin.org/en/alert/2013-08-11-android

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March 25, 2016, 03:42:43 PM
 #29

blockchain.info is a web wallet and it is safe but not the safest wallet you can find.

As they say they always get our password in encrypted form.is that really true?
that is correct. the wallet is stored on their servers as encrypted and opens up in your browser

is there service shuts down will i still have control over it?
since you can have the private keys and/or wallet exported, then yes you can have control by importing that into another wallet.

alternative:
use bitcoin core (it is full node meaning you have to download whole blockchain 7GB)
or use Electrum : SPV wallet meaning you only download block headers (30-40 MB)

Blockchain now is way bigger than 7GB... my Bitcoin folder for Bitcoin Core is already almost 70GB and growing, so consider that.
It doesn't get any safer than Bitcoin Core tho, because you are validating transactions your own and you know for sure that it's the real deal. The rest have a certain level of risk.
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March 25, 2016, 03:48:26 PM
 #30

Buy a used cheap PC. Download the Core and don't use the PC for anything else then Bitcoin. (Make backups!)

That's the way I store my BTCs. Can't think of a safer method.
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March 25, 2016, 03:49:26 PM
 #31

Its not the wallet which is safest.Its your way of storing the private key that makes your wallet safe.Very rare conditions such as blokchian.info was Ddos'd but I don't remember anyone losing their coins.I don't recommend using online wallets with large amounts of coins anyway.If you are technically good enough and ready to compromise data and time ,bitcoin core is THE best wallet around.I'd call it safest.If you want to avoid the trouble,install an SPV like Electrum.Easy to use.Again,its not the wallet but the way you store your private keys.The best way to do this is by storing it offline.
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March 25, 2016, 04:03:32 PM
 #32

Use Core or paper wallets generated on a clean PC at bitaddress.org

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March 25, 2016, 04:05:20 PM
 #33

Safest? Hardware wallet. It's super safe, but it's pretty expensive.

Paper wallet is good and safe enough, but if someone found your paper wallet... the end.
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March 25, 2016, 04:16:30 PM
 #34

one of the most trusted and secured online wallet is xapo.. xapo have great security service. when you do a transaction you'll get a new bitcoin address and people can't trace you and your wallet with the previous address. but previous address still attach with your account. and xapo have their Insured vault. for keep your money safe for long time. 
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March 25, 2016, 04:20:54 PM
 #35

Blockchain wallet seems to be the best for online usage than the other bitcoin wallet. Hardware and paper wallet can be used for enhanced security.

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March 25, 2016, 04:35:08 PM
 #36

Buy a used cheap PC. Download the Core and don't use the PC for anything else then Bitcoin. (Make backups!)

That's the way I store my BTCs. Can't think of a safer method.

buy a cheap USB flash drive and install live linux on it for free then install whatever wallet you want there.

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March 25, 2016, 05:07:10 PM
 #37

Buy a used cheap PC. Download the Core and don't use the PC for anything else then Bitcoin. (Make backups!)

That's the way I store my BTCs. Can't think of a safer method.

buy a cheap USB flash drive and install live linux on it for free then install whatever wallet you want there.
Is that really possible?But it does open to risks as soon as it's connected to PC right?

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March 25, 2016, 08:09:09 PM
 #38

Buy a used cheap PC. Download the Core and don't use the PC for anything else then Bitcoin. (Make backups!)

That's the way I store my BTCs. Can't think of a safer method.

buy a cheap USB flash drive and install live linux on it for free then install whatever wallet you want there.
Is that really possible?But it does open to risks as soon as it's connected to PC right?

Almost none as long as you boot from it and dont go online with it.

Im not really here, its just your imagination.
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March 25, 2016, 08:53:31 PM
 #39

Blockchain.info would be gt alternative for an online wallet Xapo also has a good safe guarded wallet but you need to show the id to fully activate your account i think
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March 25, 2016, 09:06:41 PM
 #40

Never used one single wallet to keep all your coins.Always use at least 3 or 4.It is always better to err on the side of caution.Safest wallet could be any that offer creating paper wallet.
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