What's the safest way to store BTC?

[empoweoqwj]

Please move this topic to the correct section if this is not the right place.

Alright, so I've been reading some threads saying they got their wallet hacked from blockchain and/or local wallet. Paper wallet isn't an option for me because I lose every single paper I own.... How safe is the 2-factor authentication? Can it be hacked somehow? Is it possible to store the wallet into a flash drive? Because I can just put it on my flash drive and keep it in my safe.

Paper wallet doesn't have to be a paper. It can be, for example, a huge stone with an encrypted private key engraved on it.

Hard to fit that in the safe though

[BitThink]

Please move this topic to the correct section if this is not the right place.

Alright, so I've been reading some threads saying they got their wallet hacked from blockchain and/or local wallet. Paper wallet isn't an option for me because I lose every single paper I own.... How safe is the 2-factor authentication? Can it be hacked somehow? Is it possible to store the wallet into a flash drive? Because I can just put it on my flash drive and keep it in my safe.

Just a reminder, there's as much (if not more) bitcoin lost due to forgetting password as being stolen. Don't make it too complicate.

[empoweoqwj]

Please move this topic to the correct section if this is not the right place.

Alright, so I've been reading some threads saying they got their wallet hacked from blockchain and/or local wallet. Paper wallet isn't an option for me because I lose every single paper I own.... How safe is the 2-factor authentication? Can it be hacked somehow? Is it possible to store the wallet into a flash drive? Because I can just put it on my flash drive and keep it in my safe.

Just a reminder, there's as much (if not more) bitcoin lost due to forgetting password as being stolen. Don't make it too complicate.

The guy said he had a safe. How could he lose a password stored in a safe, whether on paper or a flash drive? Like you say, this isn't at all complicated.

[U1TRA_L0RD]

Please move this topic to the correct section if this is not the right place.

Alright, so I've been reading some threads saying they got their wallet hacked from blockchain and/or local wallet. Paper wallet isn't an option for me because I lose every single paper I own.... How safe is the 2-factor authentication? Can it be hacked somehow? Is it possible to store the wallet into a flash drive? Because I can just put it on my flash drive and keep it in my safe.

Just a reminder, there's as much (if not more) bitcoin lost due to forgetting password as being stolen. Don't make it too complicate.

The guy said he had a safe. How could he lose a password stored in a safe, whether on paper or a flash drive? Like you say, this isn't at all complicated.

Just making it more complicated than it seems is a bad thing for the OP, As he is getting confused, and overwhelmed by the many inputs of peoples storage tactics.

[johnyj]

I just ordered several aegis secure key:

http://www.apricorn.com/aegis-secure-key.html


The key wipe out all data on it after 10 failed login attempt

I think this is a very good solution for letting your relatives/friends keep a backup of the wallet for you in case there is an emergency. You only need to tell them the number to open this key, and wallet.dat can be stored on it unencrypted

[empoweoqwj]

I just ordered several aegis secure key:

http://www.apricorn.com/aegis-secure-key.html


The key wipe out all data on it after 10 failed login attempt

I think this is a very good solution for letting your relatives/friends keep a backup of the wallet for you in case there is an emergency. You only need to tell them the number to open this key, and wallet.dat can be stored on it unencrypted

So then you have several people having copies of an unencrypted wallet.dat file and a simple password to a device which at least one of them will write down on a  piece of paper and stick it next to the drive in an insecure environment  .... that doesn't exactly sound the best way to go to me .....

The OP said in his first post he had a safe. Just use the thing - job done

[johnyj]

So then you have several people having copies of an unencrypted wallet.dat file and a simple password to a device which at least one of them will write down on a  piece of paper and stick it next to the drive in an insecure environment  .... that doesn't exactly sound the best way to go to me .....

The OP said in his first post he had a safe. Just use the thing - job done

You never give them the key code until definitely necessary, once given, that address will be emptied within 24 hours. In this way, you can be sure that even your house caught fire, your coins are safe

Another usage is heritage management. Say that your plane is going to crash and you have couple of seconds to send a sms to your relatives, if your key is protected by multiple layer of security measure, or a very strong password, there is no way for them to access it

[Sephera]

Security issues are a nightmare with this.

If you put you savings your money in BTC you can't sleep at night knowing your money is safe unlike having it in the bank, if it gets hacked they replace the money.

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

Yes what if one dies with all this high tech security in place, surviving relatives won't be able to access the money.

[Rampion]

Probably a paper wallet is the most secure and most practical solution.

If you want more usability (for example spending some of the coins without exposing to the internet the whole amount held by a paper wallet) you can get armory. The new version supporst n-of-x parts paper backups (so your paper back up will be split in X parts and you will need at least N parts to recover the wallet).

[empoweoqwj]

Security issues are a nightmare with this.

If you put you savings your money in BTC you can't sleep at night knowing your money is safe unlike having it in the bank, if it gets hacked they replace the money.

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

Yes what if one dies with all this high tech security in place, surviving relatives won't be able to access the money.

This is complete nonsense.

You rent yourself a security box in a bank, and leave all your access details in there. And in your will, you give (whoever you want) access to that.

Stop spreading FUD that bitcoins are inherently impossible to keep secure.

[maxman190]

Security issues are a nightmare with this.

If you put you savings your money in BTC you can't sleep at night knowing your money is safe unlike having it in the bank, if it gets hacked they replace the money.

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

Yes what if one dies with all this high tech security in place, surviving relatives won't be able to access the money.

This is complete nonsense.

You rent yourself a security box in a bank, and leave all your access details in there. And in your will, you give (whoever you want) access to that.

Stop spreading FUD that bitcoins are inherently impossible to keep secure.

What if bank gets blown up/shut down/robbed?

[R2D221]

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

(emphasis mine)
People say things like this without fully knowing what they are talking about. I had one friend that told me that SHA256 was proven to have weaknesses and that somebody very smart could crack it in minutes. Well, if that's the case, then why has no one heard about such an attack? (And I'm not talking just about Bitcoin, but about any system that uses SHA256 in one way or another).

The algorithm has been proven to be very secure, and so it would take decades (if not more) for someone to even think about a real, useful way to crack it (because you just can't brute force it even with quantum computers without wasting hundreds or thousands of years).

And if suddenly someone discovers an unknown vulnerability, it won't get unnoticed for very long, and there will be news all over the world about a system hacked in such a way.

So, no. Although your statement is technically correct, it's not going to happen any time soon.

[empoweoqwj]

Security issues are a nightmare with this.

If you put you savings your money in BTC you can't sleep at night knowing your money is safe unlike having it in the bank, if it gets hacked they replace the money.

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

Yes what if one dies with all this high tech security in place, surviving relatives won't be able to access the money.

This is complete nonsense.

You rent yourself a security box in a bank, and leave all your access details in there. And in your will, you give (whoever you want) access to that.

Stop spreading FUD that bitcoins are inherently impossible to keep secure.

What if bank gets blown up/shut down/robbed?

Keep a 2nd copy with your attorney / solicitor.

[Sephera]

Security issues are a nightmare with this.

If you put you savings your money in BTC you can't sleep at night knowing your money is safe unlike having it in the bank, if it gets hacked they replace the money.

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

Yes what if one dies with all this high tech security in place, surviving relatives won't be able to access the money.

This is complete nonsense.

You rent yourself a security box in a bank, and leave all your access details in there. And in your will, you give (whoever you want) access to that.

Stop spreading FUD that bitcoins are inherently impossible to keep secure.

What if bank gets blown up/shut down/robbed?

Keep a 2nd copy with your attorney / solicitor.

What if your solicitor decides to run of with say your 450 BTC.

[empoweoqwj]

Security issues are a nightmare with this.

If you put you savings your money in BTC you can't sleep at night knowing your money is safe unlike having it in the bank, if it gets hacked they replace the money.

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

Yes what if one dies with all this high tech security in place, surviving relatives won't be able to access the money.

This is complete nonsense.

You rent yourself a security box in a bank, and leave all your access details in there. And in your will, you give (whoever you want) access to that.

Stop spreading FUD that bitcoins are inherently impossible to keep secure.

What if bank gets blown up/shut down/robbed?

Keep a 2nd copy with your attorney / solicitor.

What if your solicitor decides to run of with say your 450 BTC.

Umm... the idea of solicitors are they are a trusted entity. That's how they stay in business, and would be disbarred / have legal charges brought against them if they ran off with anything.

I'm so sick of this thread. People trust online wallets who they don't have a clue is running, yet when I suggest banks and solicitors, the banks are going to blow up and the solicitors are going to run off with all your coins.

No more suggestions from me. Take care of your own coins, please

[maxman190]

Security issues are a nightmare with this.

If you put you savings your money in BTC you can't sleep at night knowing your money is safe unlike having it in the bank, if it gets hacked they replace the money.

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

Yes what if one dies with all this high tech security in place, surviving relatives won't be able to access the money.

This is complete nonsense.

You rent yourself a security box in a bank, and leave all your access details in there. And in your will, you give (whoever you want) access to that.

Stop spreading FUD that bitcoins are inherently impossible to keep secure.

What if bank gets blown up/shut down/robbed?

Keep a 2nd copy with your attorney / solicitor.

What if your solicitor decides to run of with say your 450 BTC.

Umm... the idea of solicitors are they are a trusted entity. That's how they stay in business, and would be disbarred / have legal charges brought against them if they ran off with anything.

I'm so sick of this thread. People trust online wallets who they don't have a clue is running, yet when I suggest banks and solicitors, the banks are going to blow up and the solicitors are going to run off with all your coins.

No more suggestions from me. Take care of your own coins, please

Pretty sure NONE of us suggested online wallets....

[byt411]

Security issues are a nightmare with this.

If you put you savings your money in BTC you can't sleep at night knowing your money is safe unlike having it in the bank, if it gets hacked they replace the money.

Giving time and the right genius hacker even the most sophisticated security measures can be hacked.

Yes what if one dies with all this high tech security in place, surviving relatives won't be able to access the money.

This is complete nonsense.

You rent yourself a security box in a bank, and leave all your access details in there. And in your will, you give (whoever you want) access to that.

Stop spreading FUD that bitcoins are inherently impossible to keep secure.

What if bank gets blown up/shut down/robbed?

Keep a 2nd copy with your attorney / solicitor.

What if your solicitor decides to run of with say your 450 BTC.

Umm... the idea of solicitors are they are a trusted entity. That's how they stay in business, and would be disbarred / have legal charges brought against them if they ran off with anything.

I'm so sick of this thread. People trust online wallets who they don't have a clue is running, yet when I suggest banks and solicitors, the banks are going to blow up and the solicitors are going to run off with all your coins.

No more suggestions from me. Take care of your own coins, please

Pretty sure NONE of us suggested online wallets....

Online wallets are like the most insecure thing, you have to trust someone that you don't know to keep your funds safe, without knowing if he is a scammer or not. Take inputs.io as an example, it got hacked and everything evaporated.

[Hash72]

Be Sure to use only 20 % or less of All Your BTC online for daily use ..and the safest way for the rest is to order secure USB Flash or HDD and you have to mix the encrypted wallet.dat with picture or other data after you changed to the same ext as other files like wallet.data=mama.jpg ... and you must have more than that copy in different USB ..

But i am asking how about storing mama.jpg inside online drive like Gmail or other and mix it up with almost 2000 picture how about that?   

[R2D221]

Be Sure to use only 20 % or less of All Your BTC online for daily use ..and the safest way for the rest is to order secure USB Flash or HDD and you have to mix the encrypted wallet.dat with picture or other data after you changed to the same ext as other files like wallet.data=mama.jpg ... and you must have more than that copy in different USB ..

But i am asking how about storing mama.jpg inside online drive like Gmail or other and mix it up with almost 2000 picture how about that?   

That would be similar to using a password, in the sense that you need to remember the name of the file, or else it will be essentially lost. I don't see a real benefit there.

[computerdude111]

I would recommend  going to bitaddress.org generating 7 or so private keys and split the bitcoins evenly among them, then download a offline QR code generator and generate a QR code for each address. print the codes off and hide them places or put them in a envelope. keep them like money (unless you lose alot of money)