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Author Topic: HOWTO: create a 100% secure wallet  (Read 249800 times)
iluvbitcoins
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March 24, 2015, 09:52:01 AM
 #2541

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
 #2542

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
 #2543

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.
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March 24, 2015, 10:14:26 AM
 #2544

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
 #2545

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

Muhammed Zakir
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March 24, 2015, 11:07:32 AM
 #2546

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?

Velkro
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March 24, 2015, 11:16:30 AM
 #2547

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

dinda22
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March 24, 2015, 11:46:59 AM
 #2548

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

same with me Smiley

I use a very simple blockchain.info & 2FA and it is safe Smiley

defcon23
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March 24, 2015, 11:52:54 AM
 #2549

electrrum + cold storage

or trezor..

and for sure ...multisigs wallets : electrum & trezor do it...  Cool


https://buytrezor.com?a=228c535b2aba

 thanx for the refferal  Wink

edward222
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May 05, 2015, 05:11:18 AM
 #2550

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

Your not the only one  Wink

safari88
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May 05, 2015, 08:17:02 AM
 #2551

in my opinion it's not so hard to make my secure wallet saves only on blockhain and add google authenticator

notlist3d
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May 05, 2015, 08:19:59 AM
 #2552

in my opinion it's not so hard to make my secure wallet saves only on blockhain and add google authenticator

Technically that would be considered a hot wallet.  So it's not the most secure with it being online.

Cold storage is always the most secure.  Assuming it's done properly.
centauribit
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May 06, 2015, 01:46:03 AM
 #2553

At any rate, yes paper wallets are quite secure. There's also Armory, but I'm not as familiar with how that works.

foxbitcoin
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May 06, 2015, 03:11:25 AM
 #2554

armory will give you paper wallets to print, and has a good walk through to make a cold storage wallet


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BitWatson
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August 16, 2015, 10:48:19 PM
 #2555

Thanks
Za1n
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August 17, 2015, 04:50:00 AM
 #2556

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

I am thinking the same way and it is the route I am taking. Fresh install of Linux on a dedicated machine, installed BTC Core and let it sycn up block chain. While it was syncing added firewall rules via IP Tables just to allow what is needed for basic functionality of the BTC client. I will only boot and sync when needed, and have passphrase protected the wallet. I will also keep copies of the encrypted wallet.dat file elsewhere for safekeeping.

If I begin to accumulate enough BTC where I think one wallet is too risky, I can always do the same with multiple machines. I already plan to keep a small amount of day-to-day BTC on my main desktop, so the dedicate box is just for longer term storage and will only need to be fired up on occasion. I suppose I could take it a step further and keep it offline like the guide, but I like the idea to just be able to send the BTC to my "spending" wallet when I have the need, or to easily fire it up and create additional receiving addresses when the need arises.

theRattler
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December 19, 2015, 10:04:25 AM
 #2557

nice reed and funny to boot.  Cheesy

I agree many thanks for the good advice

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BruceLee007
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December 19, 2015, 03:37:14 PM
 #2558

its a really great tutorial it was interesting to read i will definitely check it out when i will have some time and create a wallet even though i have a paper wallet lets hope it will be unhackable
TookDk
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December 19, 2015, 03:46:37 PM
 #2559

its a really great tutorial it was interesting to read i will definitely check it out when i will have some time and create a wallet even though i have a paper wallet lets hope it will be unhackable

Paper wallets are excellent. The security however, relay on how you generated the wallet.

My personal favorite-paranoid method is to roll a calibrated casino dice 99 times and covert the 99 digit base6 number into a bitcoin address and make sure none of the information is exposed to a computer that is ever connected to the Internet (Extra paranoid user can you pull the curtains as well while rolling the dice).

Cryptography is one of the few things you can truly trust.
theRattler
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January 26, 2016, 03:51:13 AM
 #2560

You would have to really trust the bitcoin specific live cd's because they could be comprimised already.

Is that something that has happened in the past?

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