Using AWS EC2 Linux instance for your crypto wallets

[cryptoiqtech]

I got tired of managing a couple of wallets on my Mac, and decided to give AWS EC2 instance a try, since I have some experience with AWS.

The intent is to have the wallet run 24/7, and also have the ability to log in to the AWS EC2 instance remotely via a web browser to see and interact with the wallet.

This would be a good solution if you have a wallet for a coin that support POS.

Here is the 2 guides I created:

1) How to build an AWS Linux VPS with Desktop and Remote Browser Access:

https://steemit.com/crypto/@cryptoiq/how-to-build-an-aws-linux-vps-with-desktop-and-remote-browser-access

2) How to install Smartcash Linux wallet on an AWS EC2 instance

https://steemit.com/smartcash/@cryptoiq/how-to-install-smartcash-linux-wallet-on-an-aws-ec2-instance

Go through the first guide, and then follow up with the second guide to install a Linux wallet for Smartcash, or any other crypto that has a Linux wallet.

[Miningstore]

Hey cryptoiqtech,
I just wanted to provide a heads up to you or anyone else reading this. If you're storing an Ethereum wallet on your EC2 instance with Geth, Parity, or Pythereum it's critical that you disable your JSON-RPC port (default: 8545). If this port is left enabled, and your wallet is unlocked, anyone can steal your funds. I believe SmartCash disables JSON-RPC by default but you should always check! Additionally, while storing your wallet on a remote server can be convenient you should always backup your private keys on paper. It's unlikely that AWS will experience any data loss or downtime, but there's always the possibility of a single point of failure somewhere. Not to mention they legally own that data. Hope this information is helpful!

[nitinkp47]

On a personal note I will never run my wallet 24x7 on a remote server.
If you have good amount of coins on that address then you are just a sitting bait for the hackers.
And you won't even realize because you won't be online even when your sever is.

[cryptoiqtech]

Thank you for your insights! The reason why I wanted to run a wallet on a VPS such as AWS EC2 instance is to set it up as a masternode for coins that support them. A masternode requires a static IP, and it needs to run 24/7. I would agree that the collateral coins for the master node should be set up on a separate wallet that is offline for security purposes.

[Miningstore]

Thank you for your insights! The reason why I wanted to run a wallet on a VPS such as AWS EC2 instance is to set it up as a masternode for coins that support them. A masternode requires a static IP, and it needs to run 24/7. I would agree that the collateral coins for the master node should be set up on a separate wallet that is offline for security purposes.

This approach would make sense if you cannot assign static IP addresses on your home network. Just make sure you take proper precautions with open ports and move funds to cold storage when you can!

[cryptoiqtech]

Yes, if you do not have a static IP for your home netwowk, a VPS is the alternative. BTW, the last line of defense, as far as I can understand would be to encrypt your wallet and back it up to another location, so that an attacker cannot transact your coins to another address. You can restore your backed up wallet later.

[cryptoiqtech]

How about this other idea, install wallet on a Raspberry at home where you keep the masternode collateral, and point it to a masternode running in a VPS?