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Author Topic: HOWTO: create a 100% secure wallet  (Read 274026 times)
albus
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August 19, 2014, 07:31:17 AM
 #2521

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
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Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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LetsMakeItBTC
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August 19, 2014, 12:14:06 PM
 #2522

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
 #2523

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
 #2524

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.

InwardContour
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August 23, 2014, 09:25:46 AM
 #2525

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.

PangPang
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August 23, 2014, 04:17:46 PM
 #2526

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
 #2527

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
 #2528

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.

silvestar
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December 08, 2014, 12:45:51 PM
 #2529

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
 #2530

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~~

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March 18, 2015, 01:17:04 PM
 #2531

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
 #2532

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
 #2533

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.

Chaos could be a form of intelligence we cannot yet understand its complexity.
iluvbitcoins
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March 24, 2015, 09:52:01 AM
 #2534

Okay, so, I have a 17 charachter password on my wallet, and all my backups are also encrypted
Though, I'm wondering how to secure myself from keyloggers?
I'm thinking about running linux over a USB drive and using bitcoin only from that OS, however what my problem is, will I have to sync everytime all over again?

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TookDk
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March 24, 2015, 09:59:12 AM
 #2535

Okay, so, I have a 17 charachter password on my wallet, and all my backups are also encrypted
Though, I'm wondering how to secure myself from keyloggers?
I'm thinking about running linux over a USB drive and using bitcoin only from that OS, however what my problem is, will I have to sync everytime all over again?

Best approach is not to make 1 x 100% secure wallet, many x 100% secure wallet.
Use different methods and different medium.
Anybody who stores all their values in one place is a fool.
I have the same opinion for fiat based values:
all the money under the bed = bad idea
all the money in the bank = bad idea
all the money in one stock or bond = bad idea.

Spread out your values, this decrease the risk of loosing all in one blow.

Cryptography is one of the few things you can truly trust.
randy8777
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March 24, 2015, 10:08:13 AM
 #2536

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.

buying a hardware wallet does't mean your coins are safer. that's right. i was planning to buy a trezor but didn't do so as it is not offline.
that's why i bought a few thumb drives to store my backups. that's really offline as they are not connected with the net.
TookDk
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March 24, 2015, 10:14:26 AM
 #2537

buying a hardware wallet does't mean your coins are safer. that's right. i was planning to buy a trezor but didn't do so as it is not offline.
that's why i bought a few thumb drives to store my backups. that's really offline as they are not connected with the net.

I am no expert in trezor, but as far as I have understood the trezor system, is that the whole point that tx signature done on the trezor device, and the private key is isolated from the usb interface.
The application running online have at no time access to the private key, thus making the private key offline all the time.

Cryptography is one of the few things you can truly trust.
Amph
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March 24, 2015, 11:01:11 AM
 #2538

A secure wallet is a 100% offline wallet IMO:

i'm still thinking that you can get a 100% secure online wallet, you just need a isolated network and a desktop dedicated only to run the client

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Muhammed Zakir
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March 24, 2015, 11:07:32 AM
 #2539

buying a hardware wallet does't mean your coins are safer.

True if you buy cheap hardware wallets because such devices have back doors for example Trezor-clones.

that's right. i was planning to buy a trezor but didn't do so as it is not offline.

You don't need to be completely offline to be secure. If you have the knowledge "how to protect your PC", it is enough. However, being offline is better.

that's why i bought a few thumb drives to store my backups. that's really offline as they are not connected with the net.

So how do you spend from it? Import the private key into an online machine and spend? Sign tx and push it from an online PC? Can you please tell?

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March 24, 2015, 11:16:30 AM
 #2540

aiwk171 your guide looks long and complicated, im too lazy for that Tongue

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