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Author Topic: Trezor or Paper Wallet?  (Read 3705 times)
StockBet.com
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September 09, 2017, 07:47:02 PM
 #21

When it comes time to spend your paper wallet, you need to load that private key into some kind of device (eg. Computer, phone, table) and sign a transaction. At this stage, you have to worry about the security of that system. Is it compromised? Does it have a hacked/buggy RNG? Will it leak your keys through a side channel? The trezor does the signing securely on the device. The keys never leave it and never need to be loaded onto another device.

With Electrum, you run it on an offline computer or bootable USB and you sign the transaction there.  Then you take the transaction to the online computer and broadcast the transaction.  The private key never leaves your offline computer.

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miguelmorales85
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September 09, 2017, 09:55:31 PM
 #22

why would the TREZOR be so expensive?Huh it not like it has NASA level hardware (neither software)
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September 10, 2017, 11:39:09 AM
 #23

This implies that you have to trust that the manufacturer doesn't have any rogue employees.
Much like you have to trust your OS maker doesn't have any rogue employees... or Intel/AMD... or the hard drive manufacturer... or the USB manufacturer... or the WiFi chipset manufacturer... or the RAM manufacturer... or the Ethernet manufacturer... or the Router/Modem manufacturer... or the <insert every other link in the chain>

Trezor do their best, and you can verify the publicly viewable code is the one on your device...: https://github.com/trezor/trezor-mcu/blob/master/README.md#how-to-get-fingerprint-of-firmware-signed-and-distributed-by-satoshilabs


With Electrum, you run it on an offline computer or bootable USB and you sign the transaction there.  Then you take the transaction to the online computer and broadcast the transaction.  The private key never leaves your offline computer.
And what makes you think that a rogue version of Electrum wouldn't encode your private key in the OP_RETURN section of your transaction prior to signing it? What guarantee do you have that the version of Electrum you downloaded is the same as the code on Github?


You'll NEVER find a 100% secure solution... there are ALWAYS attack vectors... especially when humans are involved.

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September 11, 2017, 04:44:36 AM
 #24

if you dont wanna spend extra money,  paper wallet is the best option.

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September 11, 2017, 12:45:55 PM
 #25

I would go for an encrypted cloud storage and a written private keys on paper. Why don't I like a Trezor its electronics if it breaks everything is gone and paper wallet what if your house burns down you lose everything? There are ways to avoid it with a fire safe for example. Every has their personal choice. I am hoping that most wallets in the future will have f2a authentication added so you can't lose any crypto even if they can guess something. Yea it won't stop a private key hacker that's why I say write that on paper. If then your house burns you can still log in on new pc with 2fa and get the private key out again.

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September 11, 2017, 12:53:35 PM
 #26

For long period of hodling, i think paper wallet is best, but trezor is better if you use your coins everyday.
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September 13, 2017, 11:43:12 AM
 #27

You could also consider the Ledger Nano S. I believe that it will be supporting NEO in the near future.

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September 13, 2017, 02:20:06 PM
 #28

Hardware wallets like the Trezor or Ledger Nano S are much more convenient than paper wallets if you intend to send your coins at all. It is annoying to create new paper wallets everytime you spend coins. For long term storage where you aren't spending the coins, paper wallets work well though and don't cost anything to use.
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September 13, 2017, 02:31:17 PM
 #29

When it comes time to spend your paper wallet, you need to load that private key into some kind of device (eg. Computer, phone, table) and sign a transaction. At this stage, you have to worry about the security of that system. Is it compromised? Does it have a hacked/buggy RNG? Will it leak your keys through a side channel? The trezor does the signing securely on the device. The keys never leave it and never need to be loaded onto another device.

ONE argument for Trezor vs paper wallet for the long term is what happens if BTC goes to 500k. Suppose you were the lucky guy that had an old paper wallet with 20BTC.....

To use them, you must load the entire sum into some computer and at that moment it is exposed to possible compromise. Because of the "NO CHANGE" property of paper wallets, the entire sum must be swept or imported into a wallet.

A Trezor with 20BTC in that situation, you could pull out say 0.01BTC and only that would be exposed to possible compromise.

I think it would be wise with the Trezor to verify the operation of the HD word sequence restore in one or another wallet, say the Electrum, then to save a copy of that particular program on a flash drive and put it with the Trezor in a safe. You proved it worked with that one wallet, not with any or some wallet that might exist in ten years.

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September 13, 2017, 11:19:04 PM
 #30

Can Trevor be used for other crypto currencies or is only for BTC?
HCP
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September 14, 2017, 03:20:16 AM
 #31

Can Trevor be used for other crypto currencies or is only for BTC?
Hmmm... it seems that neither Google nor the Trezor website are down... so I'm not sure why you could not find this information Roll Eyes

http://doc.satoshilabs.com/trezor-faq/overview.html#which-coins-are-currently-supported

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September 14, 2017, 08:52:44 AM
 #32

I would select trezor and paper wallet but it in a safe place. In case I lost hardware wallet and my memory
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September 15, 2017, 10:23:47 AM
 #33

If we talk about a larger value or let's say more than 10BTC, I think that we should use more than one safe storage. Divide your coins and put them into 3 Trezor and 3 Paper Wallets, leave some on Ledger too. Buy one PC just for paper wallet and other transactions, make it safe, don't watch porn on that pc bro lol. Invest in your own security, that's a good investment.

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September 17, 2017, 01:41:10 PM
 #34

i prefer in Trezor better than paper wallet.

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September 17, 2017, 03:34:27 PM
 #35

What is your preference? Ledger or trezor ?

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September 28, 2017, 07:37:34 AM
 #36

Ledger is easier to use then Ledger.  Ledger more secure.

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September 28, 2017, 07:51:49 AM
 #37

I would go with Ledger too. Ledger Nano S is cheaper, smaller and in my opinion looks better. However, its build quality is not as good as I thought. Even though my Ledger is on my desk all the time, it has a lot of scratches after 1 month but you have to look closely to notice them. Paper wallets are a good choice if you are going to hold your funds for a long time without moving them anywhere. Hardware wallets are easy to use in terms of sending and receiving transactions.

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October 01, 2017, 01:21:08 PM
 #38

Paper wallet is the most secure way but not the most convenient. I say get trezor
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October 01, 2017, 05:52:08 PM
 #39

i prefer paper wallet. because trezor is hardware too and it can be hacked one day.

How can it be hacked if it is off-line and in safe storage?
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October 01, 2017, 06:05:23 PM
 #40

i prefer paper wallet. because trezor is hardware too and it can be hacked one day.

How can it be hacked if it is off-line and in safe storage?

Trezor has been compromised. Here's the link:

https://blog.trezor.io/fixing-physical-memory-access-issue-in-trezor-2b9b46bb4522

However it was fixed in the recent software update. That's why I recommend Ledger Nano S. There were no issues yet and there are many coins supported on Ledger. About 4 are going to be added this month!  Hardware wallets are great because they don't expose your private keys but they might be hacked someday.

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