Type of wallets and questions

[Jumperman4]

Hardware wallets which I personally use trezor t, I've never had an issue and their interface is simplistic, one of the hands down best ways I've seen yet, but I like to diversify a bit. Anyone have issues with these? I doubt it.

Paperwallets I've used the github zip of bitaddress.org I've personally never had an issue storing btc on it(inalways make 3 copies) but I was wondering if anyone else had...what I mean is your bitcoin being swept or the private key doesnt work, like its wrong?

Vanitygen64 github zip, I've used this to make a "1SenDBTcPo. 0000000000000 .JqzLotgAck " address I gave it about .01 BTC to see if it was malicious code, thus far it's been sitting there. I store it on an encrypted usb, which has never seen the net, and is password protected. I was wondering if anyone had any issues with their btc being swept with this or their private key doesnt work, I have tested another one and it worked fine but with like .0008 BTC.

I've never used a mobile wallet and never intend to. Unless its 100% off line.

[1714183733]

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[lucasholder]

If you want a paper wallet I wouldn't generate it on a computer with bitaddress.org script or similar. Why not just create a new wallet with your hardware wallet and write the recovery words on a piece of paper? You can then reset your hardware wallet if you are confident you correctly wrote/memorized the recovery words and placed them in a safe place. If you generate a wallet with Bitaddress or such script, you run the risk that your computer is infected by private key stealing malware which will send over your key to a remote server as soon as it gets an Internet connection.

[Jumperman4]

If you want a paper wallet I wouldn't generate it on a computer with bitaddress.org script or similar. Why not just create a new wallet with your hardware wallet and write the recovery words on a piece of paper? You can then reset your hardware wallet if you are confident you correctly wrote/memorized the recovery words and placed them in a safe place. If you generate a wallet with Bitaddress or such script, you run the risk that your computer is infected by private key stealing malware which will send over your key to a remote server as soon as it gets an Internet connection.

That is a very, very fair point. I cant argue it. However I guess I like the aesthetics of the paperwallet. Or vanitygen wallet. But I guess you're right!

[o_e_l_e_o]

If you generate a wallet with Bitaddress or such script, you run the risk that your computer is infected by private key stealing malware which will send over your key to a remote server as soon as it gets an Internet connection.

You should never be generating a wallet, paper or otherwise, on a device with internet access enabled, for this very reason. The correct way to generate a paper wallet with bitaddress is to download the site, verify your download, and then transfer it using removable media such as a USB drive to a permanently airgapped machine running a totally clean OS. Most users would use a live OS such as Tails or another Linux distro.

I have a couple of paper wallets, and have used bitaddress in the past, but all my paper wallets are now simply in the form of a seed phrase and passphrase written down on separate pieces of paper. I did this for three reasons. Firstly, it is easier to spend coins from a seed phrase, in that I can import it to a wallet on an airgapped machine, make my transaction, and the change will return to the same seed phrase. If your paper wallet is simply a single private key, then you need to create a whole new paper wallet to receive the change, which is a hassle. Secondly, if someone discovers a private key, they can sweep all the funds. If someone discovers a seed phrase, they would also need the passphrase which I have stored separately, and so my funds remain safe. Third, for these wallets I like to generate entropy manually by flipping a coin, and manually convert my entropy in to a seed phrase, to minimize trust I have to place in third parties.

Personally, I use paper wallets, hardware wallets (only Ledger devices now since the multiple major flaws reported in Trezor devices: https://donjon.ledger.com/Unfixable-Key-Extraction-Attack-on-Trezor/ and https://blog.kraken.com/post/3662/kraken-identifies-critical-flaw-in-trezor-hardware-wallets/), airgapped wallets, and a mobile wallet. My mobile wallet is by far the least secure, but it serves a purpose of holding small amounts of day-to-day spending bitcoin which would cause me no financial issues if I lost.

[mk4]

You should never be generating a wallet, paper or otherwise, on a device with internet access enabled, for this very reason. The correct way to generate a paper wallet with bitaddress is to download the site, verify your download, and then transfer it using removable media such as a USB drive to a permanently airgapped machine running a totally clean OS. Most users would use a live OS such as Tails or another Linux distro.

This. I can't stress this enough. People have been heavily recommending paper wallets to people left and right without even mentioning the risks of making a paper wallet on a typical personal computer. The paper wallet itself sure is offline, but the process of making one is definitely not offline unless you take the extra safety precautionary measures mentioned by o_e_l_e_o. Simply turning off your computer's internet connection when generating a paper wallet really isn't enough.

[ranochigo]

Whilst generating a paper wallet on an offline air-gapped computer is certainly one of the safest ways to store your BTCs, there's no way that it could be 100% secure without you inspecting the code yourself. For paper wallets, they use the entropy using your browser. While I haven't seen it happening from the javascript address generators itself, it has happened to quite a few wallet implementation resulting in the funds being stolen.

Doubt it would be a significant issue given the audits that the community does on the major paper wallet generator.

[Jumperman4]

I've used the bitaddress.org online never had an issue... I later learned the risks and downloaded the zip, used an offline computer to generate via a usb stick. Again no issues.

I've never looked at the code of the vanitygen64, but considering it's only. 01 Btc on it, it's not the end of the world. Again I downloaded that and used a usb stick to generate on a laptop that's never been online. I guess when I WIF it, we will see just how good it is!

[687_2]

Hardware wallets which I personally use trezor t, I've never had an issue and their interface is simplistic, one of the hands down best ways I've seen yet, but I like to diversify a bit. Anyone have issues with these? I doubt it. 

If their servers go down, you won't be able to view your balance and you won't be able to create outgoing transactions.

They also know every UTXO you've ever sent or received. You couldn't develop a better way to spy on Bitcoin users if you tried.

[o_e_l_e_o]

If their servers go down, you won't be able to view your balance and you won't be able to create outgoing transactions.

That's not true. There are plenty of clients which you can use to interact with your hardware wallet other than the "official" ones provided by Trezor, Ledger, or others. I only use my hardware wallets with Electrum, for example. The manufacturers could go bust tomorrow and it wouldn't affect me using my hardware wallet in the slightest, other than it would stop being updated.

They also know every UTXO you've ever sent or received. You couldn't develop a better way to spy on Bitcoin users if you tried.

Again, only if you use their software on an internet enabled device. It is completely possible (and in many cases preferable) to use a hardware wallet without using the companies' own software, as wallets like Electrum provide more functionality and more control over your addresses and UTXOs. You can still keep your wallet's firmware up-to-date using the manufacturer's software whilst maintaining your privacy by either doing so on an airgapped machine, or keeping your funds stored behind a passphrase which you do not enter when you update.

[ranochigo]

If their servers go down, you won't be able to view your balance and you won't be able to create outgoing transactions.

You can. Trezor is BIP39 compliant which means you can easily import your seeds to another wallet which would allow you to spend the funds with the same addresses that was in your Trezor HD wallet.

They also know every UTXO you've ever sent or received. You couldn't develop a better way to spy on Bitcoin users if you tried.

Can't dispute this. I would mitigate it by using Electrum instead of their servers though.

[Lion_King_]

Precautions should always be, this is not discussed, but nobody canceled the convenience, if you generate addresses in bitaddress.org offline, and then import public addresses into your mobile wallet, let's say Blockchaion wallet, but don’t import private keys, write down them on paper, now we can use it as a backup address for most of Bitcoin we have, and we are not afraid that private keys will be stolen. Yes, we can only credit our Bitcoin to this address, but still, the risk of loss is very minimal. Correct me if I said something wrong, then you will do me a great favor, and I will be very grateful to you.

[joniboini]

-snip-

If the purpose of creating a mobile watch-only wallet is to check the balance regularly, then you can also use a bot such as Magnum notifier. But if you need a mobile wallet to regularly cash out, then creating a separate wallet is a better idea.

[cryptomaniac_xxx]

Regarding paper wallets, Disclosure: Key generation vulnerability found on WalletGenerator.net—potentially malicious.

[MrcMrc]

Personally, I use paper wallets, hardware wallets (only Ledger devices now since the multiple major flaws reported in Trezor devices

This is right, especially in the Trezor Model T. I have read a lot of articles that depicted the hardware not really secure like the ledger nano x. The cost is too much, about $160, unlike the ledger nano x that is $116 that I can easily use with my mobile phones using bluetooth. It makes hardware wallet simple to use like mobile wallet and support many cryptocurrencies.

[Nadziratel]

If you ask this topic here, I am sure that there will be more detailed responders: Wallet Software

Still, we can say that most secure way of keepin cryptocurrencies is using hardware wallets. Ledger and Trezor good choices.

[TheGreatPython]

I have been making use of mobile wallets since I got to know what cryptocurrency is all about and I have never had any issues with them, and as a matter of fact the first wallet I ever used is a mobile wallet. First time I got to know about Bitcoin was while I was doing a research on my phone, and I wrote down the name. Later on I did a serious research on it.

The first place I got to know about it they referred to it as a payment method, but after my research I got to know that it can as well be an investment and has a volatile nature. The first wallet I used was Coinbase mobile wallet, and also installed Xapo wallet (back then when it had a black interface, before the new interface it has now).

[joniboini]

Regarding paper wallets, Disclosure: Key generation vulnerability found on WalletGenerator.net—potentially malicious.

Not all 'paper wallets' generators work like this though, and you should not generate it online as mentioned in the first place. I think the strategies that have been mentioned are good enough, but if you want to be extremely free from software/computer, then you can always toss a coin or dice to create your own private key. Such as this https://bitcointalk.org/index.php?topic=5205729.0 (it's in my local board but should be easy to understand even if you google translate it).

[Sanugarid]

I have been making use of mobile wallets since I got to know what cryptocurrency is all about and I have never had any issues with them, and as a matter of fact the first wallet I ever used is a mobile wallet. First time I got to know about Bitcoin was while I was doing a research on my phone, and I wrote down the name. Later on I did a serious research on it.

Same man, I got a mobile wallet first just for buying bitcoin or any cryptocurrency available in there but later on I bought my own Ledger to store my emergency money. I guess most of us here got the mobile wallet first, since you'll test it right away. Mine is just a local wallet, it has a very basic user interface but it is trusted and it's better to use than letting your crypto sleep on exchanges.

[FanatMonet]

I keep funds on exchange wallets, but it’s quite dangerous, once with BTC-e I was lucky that I transferred all funds a year before all events with them, the second time I could barely save funds with Yobit, but it’s easier to trade, although there’s a risk very high in case of problems with the exchange.

[o_e_l_e_o]

then you can always toss a coin or dice to create your own private key.

You can also use this method to create your own seed phrase. Instead of grouping your 256 coin flips in to groups of 4, group them in to 23 groups of 11, and 1 group of 3. For each group of 11, work out the corresponding number in base 10 rather than in base 16, and then look up the corresponding word on the BIP39 word list (make sure your word list starts at 0 and not 1 though). You'll obviously need to use an airgapped computer to perform a SHA256 hash to work out the 8 bit checksum (which you convert back to binary and concatenate with your final 3 bits to give you your final group of 11 bits to work out your final word for your seed phrase).

The upside to creating a seed phrase rather than just an individual private key is that it means as long as you only ever import the seed to a live OS on a permanently airgapped machine, you can reuse the paper wallet multiple times and the change addresses are dealt with automatically.