Any opinions on the efficacy of using Truecrypt to backup the wallet.dat file?

[Rockford99]

I'm thinking about using it and a very smart nerd pal of mine suggested it

[btc_artist]

Sure. It's a wonderful idea to encrypt the backup of your wallet.  Just remember that trojans and keyloggers can nick your Truecrypt passphrase, just like any other (unless you're careful).

[Gabi]

It's a very good idea. I also encrypted mine with truecrypt.

Just make sure you use a good password and that you DO NOT forget the password.

[foo]

TrueCrypt is for creating encrypted virtual hard drives. If all you're encrypting is a single file, PGP or 7-Zip's AES encryption is a better fit.

[Gabi]

"virtual hard drive" is just a file, so where is the difference?

With few clicks i can encrypt and unencrypt, no difference than using pgp or 7-zip

[foo]

"virtual hard drive" is just a file, so where is the difference?

With few clicks i can encrypt and unencrypt, no difference than using pgp or 7-zip

It's unnecessarily complicated to set up a hard drive for one file. But if you want to do it, suit yourself.

[Gabi]

Select file->enter password->mount and you use it, very fast and easy

Also you can make the file big as you want so no one can guess what it can be. Also truecrypt offer more protection than 7-zip or pgp

[DeathAndTaxes]

Also truecrypt offer more protection than 7-zip or pgp

Care to explain that?  7z uses AES w/ a 256 key for encrypting.  The key is derived from an arbitrary length passphrase using  524,288 SHA-256 hashes for key hardening.  If you select a good passphrase truecrypt isn't going to offer any more security than 7z. 

Truecrypt offers more features and it a very useful tool but I agree w/ foo it is overkill for encrypting a single file.

[Gabi]

Hidden volume and different encryption and hashing algorithms

Yes you are right, 7zip or pgp are more than enough, but since truecrypt is fast and easy to use, it work very well too.


And one of the best websites i've seen, everything is explained. Not like bitcoin....... (that also apply to the client). Not related to encryption, but bitcoin client should learn from Truecrypt (i'm speaking about interface)