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Author Topic: What secure wallets needs 2fa before sending  (Read 2113 times)
BitcoinSupremo
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August 23, 2016, 10:41:54 AM
 #41

I will like to know  secured online wallets that require 2fa before sending btc.

The Ledger Nano S has the FIDO for stronger authentication as can be seen in the pic below



It has also the PIN to protect logging in from any malware or any other software but with the Nano S you should use buttons.

This means that even if your computer is infected you still are safe using this wallet (which is for bitcoin and ethereum too)

How is data stored though? It's good until somethig bad happens!
If it uses flash technology then it's likely to fail in an unreasonably small amount of time (If using every day, you're lucky to get a year out of it).

Even if ledger nano S stores the data using the flash technology it is not bad at all as you say.

Searching in google it says that the flash drives can last up to 10 years if you not power up in pc.

You can check/search here how safe is the ledger nano S or even ask here https://bitcointalk.org/index.php?topic=899253.0

I know that ledger nano S is the new hardware wallet from ledger. Ledger Hw.1 it has a life span of 30 years or 500.000 cycles of usage , it says so in it box so not a problem what technology uses. The company guarantees it has a lifespan of 30 years which is not bad at all cause we don't know if we will be alive after 30 years let alone what will happen to our bitcoins. Ledger makes one of the most cheap and very good working hardware wallets.
Tazze
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August 23, 2016, 12:01:30 PM
 #42

No one requires that unless you specify it and mostly these wallets enforce that at login rather than on sending transaction, Anyway that wouldn't be an issue since no one would be able to login without the 2fa auth.
yayayo
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August 23, 2016, 12:11:52 PM
 #43

I'm skeptical of 2fa, since SMS for example is not a secure way of transmitting information. Nowadays, the underlying encryption can be hacked quite easily. The point of 2fa is almost completely erased, if you use the same device for opening a web wallet and receiving SMS. In addition, by using 2fa, you reveal your phone number to the web wallet operator which has negative privacy and security implications. For example, if the wallet operator is hacked, your phone number might be revealed to criminals and you could be an easy target of personalized scam attempts.

So if you want to use 2fa, better use a specialized device with a local wallet.

For storing larger amounts of Bitcoin, I would recommend cold storage only (for example paper wallets). This way (if the addresses were generated in a secure environment) you eliminate the risk of hacking and third party scams altogether.

ya.ya.yo!

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lister storm
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August 23, 2016, 04:22:24 PM
 #44

No one requires that unless you specify it and mostly these wallets enforce that at login rather than on sending transaction, Anyway that wouldn't be an issue since no one would be able to login without the 2fa auth.
it wouldnt be an issue for sure, i know that blockchain.info requires 2fa for logging in into the wallet though you dont need to do that when you send btc
MingLee
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August 23, 2016, 05:19:44 PM
 #45

I will like to know  secured online wallets that require 2fa before sending btc.
I personally don't know about places that require 2fFA before sending Bitcoin, but Coinbase and Blockchain.info (and maybe Xapo) require 2FA to log into your account. There might be some settings that you can configure on some online wallets to change that, but I don't know them off hand.
streazight
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August 25, 2016, 04:35:34 AM
 #46

I'm skeptical of 2fa, since SMS for example is not a secure way of transmitting information. Nowadays, the underlying encryption can be hacked quite easily. The point of 2fa is almost completely erased, if you use the same device for opening a web wallet and receiving SMS. In addition, by using 2fa, you reveal your phone number to the web wallet operator which has negative privacy and security implications. For example, if the wallet operator is hacked, your phone number might be revealed to criminals and you could be an easy target of personalized scam attempts.

So if you want to use 2fa, better use a specialized device with a local wallet.

For storing larger amounts of Bitcoin, I would recommend cold storage only (for example paper wallets). This way (if the addresses were generated in a secure environment) you eliminate the risk of hacking and third party scams altogether.

ya.ya.yo!
I have had a problem with 2fa as well.
It was from my Google account. I had switched sim card since I needed a new one to refresh my phone identity and unfortunately, I lost my old one.
I did not really think of it much until I had to log in my account again from a different pc.
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