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Author Topic: HOWTO: create a 100% secure wallet  (Read 251772 times)
silvestar
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August 04, 2014, 01:41:06 PM
 #2521

Is there any real safe way to store a wallet online? As in you encrypted it and placed it in some online storage service? I'm just wanting reliable off site backups.

I think it is okay if you encrypted it with a good long password with 7-Zip before uploading the file.
But you shouldn't keep an decrypted version on an online machine.

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August 04, 2014, 01:54:06 PM
 #2522

There're many cook books how to prepare secure wallets, usually with 20+ points about how to install bootable USB with Linux and Armory on USB token.

Or you can


Muhammed Zakir
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August 04, 2014, 02:48:42 PM
 #2523

There're many cook books how to prepare secure wallets, usually with 20+ points about how to install bootable USB with Linux and Armory on USB token.

Or you can



Armory is very secure than other wallets but for newbies I don't think it would be good option as they need to download whole Blockchain data unless they have good internet connection. Electrum would be better if you don't have a good connection, IMO.

Kindly,
       MZ

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August 04, 2014, 04:20:16 PM
 #2524

Put wallet in a bunker.
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August 08, 2014, 07:13:12 PM
 #2525

Would it be safe to run Linux on a Virtual Machine that is not connected to the internet and have your coins stored there.

1-If I am running Windows on my Pc and the VM is running linux, and is offline, is there a possible threat for my coins?

2- Are there any versions of Linux that are better than others when dealing with Bitcoin?

3- Would I be able to have the wallets that I use on a daily basis stored on several virtual machines as well,  for extra security?

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August 09, 2014, 04:56:19 AM
 #2526

Would it be safe to run Linux on a Virtual Machine that is not connected to the internet and have your coins stored there.

1-If I am running Windows on my Pc and the VM is running linux, and is offline, is there a possible threat for my coins?

2- Are there any versions of Linux that are better than others when dealing with Bitcoin?

3- Would I be able to have the wallets that I use on a daily basis stored on several virtual machines as well,  for extra security?



1- If you planning to run it offline and send a coins from other wallet, then there will be no threat. However, making a copy of your wallet and copy of your private keys would be good as some viruses may damage computer hard disks.

2- Kubuntu and Lubuntu are Ubuntu-based lightweight distros. I recommend Kubuntu if you have min requirements to run it or use Lubuntu to get a lag-free computer. Otherwise install Linux Debian, which is least recommended option.
Quote
Kubuntu min requirements:

Processor   1 GHz (x86)   Better than 1 GHz (x86)
Memory   512 MB   1 GB
Hard drive capacity   4 GB[41]   10 GB[41]
Video card   VGA @ 640×480   VGA @ 1024×768

Lubuntu min requirements:

We have done many tests and we've found out that Lubuntu can be installed on a Pentium II or Celeron system with 128 MB of RAM, but such a system would not perform well enough for daily use.

With 256MB - 384MB of RAM, the performance will be better and the system will be more usable.

With 512MB of RAM, you don't need to worry much.
Note: If "Desktop effects" are desired, a supported GPU is required.

3- If you are thinking to run VMs to on same computer, I don't think that would make an extra layer of security but running it on different computers would be good. Running many VMs on a computer decreases the overall performance.

If you have USB or CD, I recommend you to use it as a live bootable Linux distro. It is much better.

Kindly,
       MZ

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August 19, 2014, 07:18:27 AM
 #2527

Brainwallet is a nice feature to have and unless someone can find a way to crack into people's brains, then it should be secure.

As mentioned a bit earlier in this thread, Brainwallet may have some issue with its random number generator.

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August 19, 2014, 07:31:17 AM
 #2528

Brainwallet is a nice feature to have and unless someone can find a way to crack into people's brains, then it should be secure.

As mentioned a bit earlier in this thread, Brainwallet may have some issue with its random number generator.



by that I mean the brainwallet website
LetsMakeItBTC
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August 19, 2014, 12:14:06 PM
 #2529

Thank you! nice guide for when i get at least 1 btc worth hiding.
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August 23, 2014, 03:13:22 AM
 #2530

To automate the process of generating paper wallets down to only launching a command on a shell I've made this project: http://paperbank.it
It uses an USB thermal printer and a linux machine that stays offline like a Raspberry PI to achieve maximum security and maintain the easiness and automation of the current online solutions.

makevoid
github.com/makevoid
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Daniel007
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August 23, 2014, 05:52:43 AM
 #2531

Its a nice and helpful post. Thanks a lot for sharing such a useful post. I have found that e- wallet are getting hacked so often. So it is really important to keep you wallet safe.

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August 23, 2014, 09:25:46 AM
 #2532

Its a nice and helpful post. Thanks a lot for sharing such a useful post. I have found that e- wallet are getting hacked so often. So it is really important to keep you wallet safe.

I would not recommend anybody to put his coins into the hands of some exchange, everyone should try to secure their savings offline.

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August 23, 2014, 04:17:46 PM
 #2533

Its a nice and helpful post. Thanks a lot for sharing such a useful post. I have found that e- wallet are getting hacked so often. So it is really important to keep you wallet safe.

There is an old saying in the bitcoin world, "if you don't have the private key, you don't have the bitcoin". Smiley

btcguys
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August 23, 2014, 04:37:04 PM
 #2534

Is there any real safe way to store a wallet online? As in you encrypted it and placed it in some online storage service? I'm just wanting reliable off site backups.

I think it is okay if you encrypted it with a good long password with 7-Zip before uploading the file.
But you shouldn't keep an decrypted version on an online machine.

You should use 3 layers of encryption:
1. BIP encrypt private keys
2. create TrueCrypt encrypted container or similar encrypted container
3. 7-zip Encrypt

for all 3, use unique and very long passwords
bitkilo
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December 08, 2014, 12:05:21 PM
 #2535

Can someone give a link for a very simply secure paper wallet.
Just getting into cold storage now.
I have played around with bitaddress.org a bit, can i print straight from there then just import private key into my wallet when i want to spend? Into any online wallet? Printer wont be used online afterwards.
I will order one of the Mycelium Entropy next week after reading up on them today, sound pretty cool, not too expensive.

 

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silvestar
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December 08, 2014, 12:45:51 PM
 #2536

Can someone give a link for a very simply secure paper wallet.
Just getting into cold storage now.
I have played around with bitaddress.org a bit, can i print straight from there then just import private key into my wallet when i want to spend? Into any online wallet? Printer wont be used online afterwards.
I will order one of the Mycelium Entropy next week after reading up on them today, sound pretty cool, not too expensive.

Bitaddress works well. Just make sure you download the script and run it offline. You can also use BIP38 to encrypt the paper wallet with a passphrase.

Yup, when you want to spend your bitcoin, just import the private key into any wallet client you like.

Muhammed Zakir
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December 08, 2014, 12:46:45 PM
 #2537

Can someone give a link for a very simply secure paper wallet.
Just getting into cold storage now.
I have played around with bitaddress.org a bit, can i print straight from there then just import private key into my wallet when i want to spend? Into any online wallet? Printer wont be used online afterwards.
I will order one of the Mycelium Entropy next week after reading up on them today, sound pretty cool, not too expensive.

You can create a screenshot and then print it. If you want to send any BTC, try to use Mycelium Android wallet as it deletes all the contents related to that paper wallet after the TX is pushed. Smiley

   ~~MZ~~

fahrenheit451
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March 18, 2015, 01:17:04 PM
 #2538

How was Trezor (bitcointrezor.com) not mentioned here thousand times already? It's a 100% solution, an offline, standalone signing device. It's open source and it's securing bitcoins by the design of the process alone and not by a smartcard component like ledger wallet.

► SatoshiLabs ► TREZOR ► CoinMap  ► Slush Pool
Muhammed Zakir
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March 18, 2015, 01:22:26 PM
 #2539

How was Trezor (bitcointrezor.com) not mentioned here thousand times already? It's a 100% solution, an offline, standalone signing device. It's open source and it's securing bitcoins by the design of the process alone and not by a smartcard component like ledger wallet.

1) Expensive.
2) Not offline(aka cold storage).

Ledger is secure like Trezor. Don't think Trezor > Ledger! Smiley

macsga
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March 19, 2015, 10:47:11 PM
 #2540

How was Trezor (bitcointrezor.com) not mentioned here thousand times already? It's a 100% solution, an offline, standalone signing device. It's open source and it's securing bitcoins by the design of the process alone and not by a smartcard component like ledger wallet.

1) Expensive.
2) Not offline(aka cold storage).

Ledger is secure like Trezor. Don't think Trezor > Ledger! Smiley

Exactly. Nevertheless, you can find very informative posts (and links) here on how to create your secure cold wallet. Don't forget to store it in (at least) 3 mediums and in 3 different places. This will give you about 98% probability your funds are secure.

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