Blockchain Wallet - More Than 8 Millions Users - How To Protect The Wallet

[Pursuer]

Blockchain have more than 8 millions users !!!

wow, that is impressive, I remember the time they went above 1 million I heard about it and though there is so many wallets on BC.I but now it is really handling millions of users!

There are some nice security measurements inside Blockchain - 2 step verification, second password and advanced settings like - login IP restriction, block access from TOR etc. How to better protect Blockchain wallet and your wallet funds ? I think only advanced settings - like login IP restriction, block access from TOR, password stretching etc. really can help.

first of all you should always keep coin coins in a wallet that you generate and hold offline not a web wallet.
secondly all you said are good security measures I chose a good password with 2FA and I feel it is more than enough for my needs and I can not use IP restriction because i have a dynamic IP which changes so it is not an option for me.

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[aarons6]

Better to have paper wallets which is also free and when you need to transfer bitcoin you can use blockchain wallet as they have address importing feature. I don't feel secure to store all bitcoin in any of the web wallets currently exist.

you assume nobody uses bitcoin and just holds on to it..

i use bitcoin. i get paid in bitcoin, buy things with bitcoin, i hardly keep any coins.. maybe 1 or 2..

so paper wallets would be a huge hassle..

[Velkro]

1.Blockchain and blockchain.info two separate things.

Its very important to distinct this. Blockchain is technology, blockchain.info is poor online wallet and blockchain browser website.
You mean blockchain.info dear topic author.

[xdrpx]

I used to be a Blockchain.info user when I initially got into Bitcoins, but they later had several hack attempts and I had decided to move to Electrum one and for all. You can google and find this news article about a hacker named Johoes who managed to hack Blockchain.info's private keys for few accounts that generated the name 'R' value twice by using the signatures alone. He developed a script to steal about 255 BTC, but was very kind enough to return it back to blockchain.info. Also remember all your private keys although encrypted, are still accessible by staff or employees of Blockchain.info so you'd never know when there would be a day when some Bitcoins get stolen (and I assume as this happens the price of Bitcoin falls and we don't want that to happen do we?). It's better to be the only owner of your private keys by selected a desktop or mobile wallet probably SPV if you can't afford to download the whole blockchain and use Armory.

[MingLee]

Blockchain have more than 8 millions users !!! There are some nice security measurements inside Blockchain - 2 step verification, second password and advanced settings like - login IP restriction, block access from TOR etc. How to better protect Blockchain wallet and your wallet funds ? I think only advanced settings - like login IP restriction, block access from TOR, password stretching etc. really can help.

Login IP restrictions could prove to be an issue in the future, especially if we reach a point where people commonly change their IPs. Blocking TOR is a feature on some websites already, and it works well. Password stretching might be an interesting thing to apply.

[Kevin77]

How to better protect Blockchain wallet and your wallet funds ? I think only advanced settings - like login IP restriction, block access from TOR, password stretching etc. really can help.

A web wallet always has some vulnerability, so if you are not convinced by their available features, better switch over to different one. I believe blockchain.info has all latest security measurements including client side encryption on browser itself before transmitting to their servers.

block access from TOR

No, tor is for different application. A hacker may hide and come under a proxy not just due to tor.

[jak3]

i am a late blockchain user but when it gots its second update(recently) i stopped using it even i have some btc on those btc addresses but i just stopped it i hate the new verson of blockchain so much that i immideatly switched to mycelium wallet i can not compromise my comfort with my security and in face the new version does not even let me take control on the private keys

[densuj]

Actually i don't too like using Blockchain because it is online wallet and i can not control the private key although there are many people who use it, and the other reason is Blockchain has interface of website and new fitures usage not user friendly especially for users of smartphone like me and i am more suitable use mycelium wallet than Blockchain.

[wahyoezz25]

they may recruit many experts in the field to monitor the site. and of course the site of this size is required to maintain the good name of the site. But how can you know more than 8 million people there? 

[Dudeperfect]

Yes IP restriction, blocking TOR access, enabling 2FA authentication can really help but at the end, it is for securing wallet and not the blockchain. Since I have seen news of many exchanges got hacked, I don’t take any risk and thus maintained a cold storage to maintain maximum security (even my family members don’t know about it), I use blockchain mainly to transact and monitor my bitcoins and not as a main storage location. 2FA with mobile OTP is best  way to keep blockchain wallet secure.

Why'd you use a cold storage? I find it quite stupid if you need to use it daily. Some users keep like 1-2 BTC online and the rest on the cold storage. It is indeed the best solution, however, it is a pain in the ass.
What I do is simply check my computer for malwares. I can say that 95% of times that someone loses cash is because of a poor security. I must say that I have been hacked, luckily the idiot didn't steal me a lot, but it was because I was pretty dumb.

All-in-all, just don't execute random shit online including but not limited to generators ("Bitcoin magic generator, earn millions a day") and bots.

i think you are thinking about paper wallet when you say cold storage, but cold storage is a wallet which has no connection to internet and never have and never will!

so the solution is simple either use an always offline PC like an old laptop or use a live linux on a USB with persistance and install the wallet there. it always remains offline and you can spend whenever you want from it.

Thanks for the advice, I appreciate it. Yes I am talking about paper wallet when I said cold storage. For me, the main purpose of cold storage is to store bitcoins for long term (say 5 to 10 years) so yes it would work best as far as one is keeping paper wallet secure. Using an always offline PC is also a good option but the paper wallet is preferable for me as I don’t trust the durability of old devices.

[romero121]

Due to the enhanced development and updates Blockchain wallet runs in a much safer way even in minimal security features setup. Possibly the features provided for increased security too seems to be highly user friendly, that even a first time user too can set it up without much difficulty. Most wallets had started using two factor authorization.

[MONKEYJUNK]

This numbers are a bit crazy, one day this wallet can have problems and for sure the bitcoin price will go to the ground even if most people use to hold micro ammounts in the end it's a lot of money.

Anyway untill now it's a good web wallet with impressive numbers.

[Sled]

Blockchain wallet is one of the very first wallet that I use but now I already transfered my bitcoins from there to another one because I don't that it is safe to store bitcoins there because its number of users can easily attract hackers so for me it is better if I just jump into a safer wallet for me rather than storing bitcoins in a web wallet and crowded which is very prone to different attacks.

[RoommateAgreement]

This numbers are a bit crazy, one day this wallet can have problems and for sure the bitcoin price will go to the ground even if most people use to hold micro ammounts in the end it's a lot of money.

Anyway untill now it's a good web wallet with impressive numbers.

lol, you don't know anything about bitcoin price and how it changes and nothing about wallets either.

only newbies are using blockchain.info as their primary wallet to keep bitcoin in large amounts. and if anything happens those newbies will lose their coins (and it has already happened once) and newbies don't have much.

[rik3]

Blockchain have more than 8 millions users !!! There are some nice security measurements inside Blockchain - 2 step verification, second password and advanced settings like - login IP restriction, block access from TOR etc. How to better protect Blockchain wallet and your wallet funds ? I think only advanced settings - like login IP restriction, block access from TOR, password stretching etc. really can help.

Yes Bro You are Right the Advanced Features Of Blockchain Helps Us to Protect Our Wallet and Your Funds and Also I Want to Tell You One More Way By Which You can Increase Your Security is Always Use Different Addresses For Receiving Bitcoins From Different Websites Or Services......

[pereira4]

How to protect your Bitcoins?

Don't use Blockchain.info wallet.

I cannot emphasise this enough. Blockchain.info wallet IS NOT by any means, safe. Just like any other web wallet, they have access to your private keys, encrypted or not. It is still possible for them to get the Bitcoins by capturing your passwords or just use a weak encryption method when encrypting the password. The 'security' features that blockchain.info wallet only protects against hackers who have your password or are trying to bruteforce your password but are not protecting your wallet against the hackers or employees who are targeting the server. A simple research would tell you how flawed the idea of blockchain.info is.

Yeah, no online wallet will ever be safe. Blockchain.info wallet can be useful for newbies, and maybe to store some chump change, but other than that it's pretty useless. Anyone holding relevant amounts of bitcoin inside blockchain.info is up for a harsh awakening, some day they will look at their accounts and it will be empty.

Remember to always save your BTC locally ideally in a computer not connected to the internet at all.