Gift Card as Cold Storage

[coincardgift]

Hello Bitcoiners!

We're Coin Card Gift - the online store with unique Gift Cards as Cold Storage for any Bitcoin wallet.

Our mission is to provide the best way to make a lovely gift of Bitcoin (any amount). We believe it's a unique product to introduce Bitcoin.

The cards don't have attached BTC. They work as Cold Storage.

What has each card:

- Bitcoin address
- QR Code

Backside with a matrix to add the recovery phrase along with the private key (but this can happen only once the card is received - it's a manual process because we do not ask for your private keys).

You can take a look at all the cards by visiting our website:

https://CoinCardGift.com

Please, share your thoughts.

Thank you BTC

[Quickseller]

Hello Bitcoiners!

We're Coin Card Gift - the online store with unique Gift Cards as Cold Storage for any Bitcoin wallet.

Our mission is to provide the best way to make a lovely gift of Bitcoin (any amount). We believe it's a unique product to introduce Bitcoin.

The cards don't have attached BTC. They work as Cold Storage.

What has each card:

- Bitcoin address
- QR Code

Backside with a matrix to add the recovery phrase along with the private key (but this can happen only once the card is received - it's a manual process because we do not ask for your private keys).

You can take a look at all the cards by visiting our website:

https://CoinCardGift.com

Please, share your thoughts.

Thank you BTC

What you describe is in no way cold storage. You are describing a process in which you are creating private keys that are associated with the addresses on the cards you are selling. This is a very bad security practice.

[coincardgift]

Hello Bitcoiners!

We're Coin Card Gift - the online store with unique Gift Cards as Cold Storage for any Bitcoin wallet.

Our mission is to provide the best way to make a lovely gift of Bitcoin (any amount). We believe it's a unique product to introduce Bitcoin.

The cards don't have attached BTC. They work as Cold Storage.

What has each card:

- Bitcoin address
- QR Code

Backside with a matrix to add the recovery phrase along with the private key (but this can happen only once the card is received - it's a manual process because we do not ask for your private keys).

You can take a look at all the cards by visiting our website:

https://CoinCardGift.com

Please, share your thoughts.

Thank you BTC

What you describe is in no way cold storage. You are describing a process in which you are creating private keys that are associated with the addresses on the cards you are selling. This is a very bad security practice.

That's not the case. The card has a Bitcoin address given by the customer. We do not create a wallet, and we do not keep/ask Bitcoin keys.


Let me explain it further:

You have a wallet with your private keys (we don't ask for them, which is normal) and during the order, you can add a Bitcoin address from your wallet (whatever it is).

For example:

• You have a Bitcoin wallet from Green Address
  
  Once you make the order of a card by your choice, there is a field to add the bitcoin address
  
  Then we generate the QR code (just to fit the card design, and you can always check that it's correct)
  
  The Card will come only with your Bitcoin address (+QR Code +Custom text if you wish) from your current wallet (like Green Address, Trezor, Ledger)
  
  Then you can write down the recovery phrase on the Backside of your Card along with the private key. We send each Card with a permanent marker for this purpose.

You can also add a custom wish/text to your Card. These Cards have the idea to introduce Bitcoin to someone else (as a gift), but you can keep it for you.


It's a gift card for wallet by your choice.

[mandertherick]

Actually it doesn't sound that bad at all, the worst that could happen is that they store all the BTC Wallet address and no more.

[BG4]

"GIFT CARD" sounds like you are giving it to someone...
and it stores only public addresses....


Its not really a gift if you don't give the private key....  is it?

[TryNinja]

"GIFT CARD" sounds like you are giving it to someone...
and it stores only public addresses....


Its not really a gift if you don't give the private key....  is it?

If I understood correctly, you write the backup seed and give it to whoever you want. That's the point of his website. Like a birthday card but with a key (seed) for Bitcoins on it.

Example of one of his cards:

[LoyceMobile]

You may have more customers if you post this on the Collectibles board. At first impression it looks good and safe.

Summoning LoyceV to merit OP.

[coincardgift]

"GIFT CARD" sounds like you are giving it to someone...
and it stores only public addresses....


Its not really a gift if you don't give the private key....  is it?

Nope, we don't know the private keys (and we don't ask for them).

The card can be used with any Bitcoin wallet.

During the order you can submit a Bitcoin address from a wallet by your choice.

We've just made a video about how it works:

https://www.youtube.com/watch?v=sYvVWBBT9Ls

[coincardgift]

"GIFT CARD" sounds like you are giving it to someone...
and it stores only public addresses....


Its not really a gift if you don't give the private key....  is it?

If I understood correctly, you write the backup seed and give it to whoever you want. That's the point of his website. Like a birthday card but with a key (seed) for Bitcoins on it.

Example of one of his cards:

http://coincardgift.com/image/cache/catalog/Card-Fortune/Card4_Front_2-800x500.png

Yes, you receive the card with empty backside because we do not know the private keys (and we do not ask for them). The Bitcoin address on the front side is not provided by us. During the order you can submit a BTC address of the receiver (of this card).

Then you can give the card and he or she can add the recovery phrase on the backside.

[LoyceV]

Backside with a matrix to add the recovery phrase along with the private key (but this can happen only once the card is received - it's a manual process because we do not ask for your private keys).BTC

What you describe is in no way cold storage. You are describing a process in which you are creating private keys that are associated with the addresses on the cards you are selling. This is a very bad security practice.

Back at my keyboard, I can give a longer reply: They're only asking for and printing the address, the buyer has to create the private key by himself.

I appreciate that coincardgift isn't asking for or creating a private key. This looks good from the start.

I have some thoughts though: you may want to emphasize the need to use an air gapped system (that won't go online afterwards) when generating a private key for proper cold storage, for instance this way:

Step 1: Goto https://www.bitaddress.org/ move your mouse/type in the field until it shows 100% and wait a second.
Step 1.5: Optional but highly recommended. Download the page, verify the download and run it locally^*.
^* Download and use offline. Use for example Ubuntu or Knoppix from a LIVE DVD without ethernet/Wi-Fi

And, especially when writing down a private key, users should tripple check it after writing it down! It's probably best to actually test the private key (with the same precaustions on an air gapped system again) before funding it. You wouldn't be the first to lose access to funds because of your own handwriting.

Two more things:
The price is quite high just to hold a small amount of Bitcoin. I get that because of shipping, labour and the marker for each order, but as a gift it would be good if the price per card could go down when someone orders for instance 5 cards.
I assume you know Bitcoinpaperwallet.com: it has a nice way of hiding the private key, so it can't be exposed without tampering with the paper wallet. This would improve security.

I saw your offer for a free card, but I value my privacy too much for ordering one.