Question about privacy of Blockchain.com wallet

[LoyceV]

Well, there might be situations where you have don't have the choice to use your own device.

Let's suppose you work on a submarine. Or that you are a military and on the location you are the only way to access internet is in a computer that you received by your employer.

Chances are you won't have any communication with the outside world for months from that submarine. The more common scenario is an employer's computer, and indeed, I never enter my own passwords there. When convenient, I've used corporate email for personal stuff ("hey, will you buy potatoes or should I?"), but that's where it ends.

I faced similar situations a few years ago (which I don't want to specify here for privacy purposes), where i didn't have wifi in my mobile device and I had to use a computer provided by my employer to use internet.  and blockchain.info was handy.

I'd use my own CD/USB, reboot into a live Linux, start Electrum, and punch in my 12 words. But I'd never enter my passwords in an environment controlled by anyone else.
Or, much more likely, I'd bring my own spare netbook and use that instead.

Checking back the previous page reveals the perfect solution:

An even better solution would be to carry around a USB stick with Tails on it, so you can boot the computer you have been provided in to a clean, live OS, and then either load your wallet from the encrypted persistent storage, or recover it from scratch using your seed phrase.

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[n0nce]

To be honest, I don't think it's more convenient to create an account at a exchange to use as a wallet instead of just downloading a non-custodial App or PC software. It's faster and easier to set up and has more features. I don't see any added 'convenience' in an online BTC wallet.

It is more convenient because you can access your wallet everywhere , just like an email.
You just need to remember your login and password to log into your wallet in any device. (You don't need to carry a seed around)

If you need to access your bitcoin in another device, such as a computer at work or in another kind of device,  they offer some nice convenience.

I used blockchain.info in the past in that situation and it was nice.

Of cource the security is much lower, but you can add just a few bucks to it (like 50 usd). I consider them similar to a physical fiat wallet.. you can carry a few bucks of cash in your pockets, if you lose it that's not a big deal.

Nobody carries a seed around. To access Bitcoin everywhere (especially small amounts, like you mentioned), the best solution by far would be a non-custodial mobile wallet, like BlueWallet which I already mentioned. It's even more convenient to set up, because there is no account. No email. No password. No verification.... Just write the seed words (or not, if you don't care about an amount of max 50 USD), and you're ready to go.

An even better solution would be to carry around a USB stick with Tails on it, so you can boot the computer you have been provided in to a clean, live OS, and then either load your wallet from the encrypted persistent storage, or recover it from scratch using your seed phrase.

This is actually great; your solution requires 2 USB sticks, but it might even be possible with a single one (like 2 partitions, one encrypted with seed and downloaded copy of Electrum and another with the live OS for example).

[LoyceV]

Nobody carries a seed around.

My personal favourite, apart from a small mobile hot wallet, is an encrypted paper wallet. I keep a backup at home, and the encryption won't easily be brute-forced if someone gets their hands on it.

This is actually great; your solution requires 2 USB sticks, but it might even be possible with a single one (like 2 partitions, one encrypted with seed and downloaded copy of Electrum and another with the live OS for example).

One is enough: Electrum is included in Tails by default, and Tails can create an encrypted partition on the same USB stick.

[o_e_l_e_o]

Nobody carries a seed around.

No, but I'd still rather do that than use a web wallet. Hell, I'd rather memorize a seed phrase for use on the go (obviously knowing that the back up is written down and stored securely at home) than use a web wallet.

Just write the seed words (or not, if you don't care about an amount of max 50 USD), and you're ready to go.

You don't have to carry the seed phrase around with you, but you should definitely write it down. You don't want to be in the situation of needing to receive a large transaction while you are on the go and only have an unbacked-up mobile wallet on you.

This is actually great; your solution requires 2 USB sticks, but it might even be possible with a single one

Yeah, as Loyce says, Tails will create a persistent storage on the same USB stick it boots from: https://tails.boum.org/doc/first_steps/persistence/index.en.html

[n0nce]

Nobody carries a seed around.

My personal favourite, apart from a small mobile hot wallet, is an encrypted paper wallet. I keep a backup at home, and the encryption won't easily be brute-forced if someone gets their hands on it.

You have to import it into a hot wallet to use it though; then I prefer a hardware wallet or just using a mobile wallet in the first place On the other hand, if it's not yet sure whether you'll actually need to use that wallet on-the-go, then your method is more secure!
I was arguing for 'convenient & secure' method though, and my point still stands that it's not more convenient to use an online wallet instead of just using a mobile, custodial wallet.

This is actually great; your solution requires 2 USB sticks, but it might even be possible with a single one (like 2 partitions, one encrypted with seed and downloaded copy of Electrum and another with the live OS for example).

One is enough: Electrum is included in Tails by default, and Tails can create an encrypted partition on the same USB stick.

I didn't know that it includes Electrum and has this other feature as well, that's really great! I should set one up.. I think last time I used Tails, it didn't have these features or I didn't know about it, otherwise I'd probably have done it already..

[LoyceV]

You have to import it into a hot wallet to use it though; then I prefer a hardware wallet or just using a mobile wallet in the first place On the other hand, if it's not yet sure whether you'll actually need to use that wallet on-the-go, then your method is more secure!

That's my point indeed: I can carry an encrypted piece of paper around for many years, without any risk. I don't expect to use it any time soon, it's just for whenever an opportunity arises. I don't want to carry a hardware wallet with me.

I was arguing for 'convenient & secure' method though, and my point still stands that it's not more convenient to use an online wallet instead of just using a mobile, custodial wallet.

For convenience, I also have a small (non-custodial) mobile wallet that I use whenever I can.

Apart from the security, I can think of another reason not to use a webwallet: I'd have to remember another password, or store it on my phone. Both options I don't like.

[o_e_l_e_o]

I didn't know that it includes Electrum and has this other feature as well, that's really great! I should set one up..

The only downside is that since it is all pre-bundled, they don't use the latest version. Last I checked, they are still on version 4.0.2. If you really want the latest version, then you can run it using the AppImage from electrum.com and saving it to your persistent storage. There are instructions here: https://electrum.readthedocs.io/en/latest/tails.html

That's my point indeed: I can carry an encrypted piece of paper around for many years, without any risk. I don't expect to use it any time soon, it's just for whenever an opportunity arises. I don't want to carry a hardware wallet with me.

I'm not really a fan of that method. To spend from that encrypted paper wallet while on the go without any additional hardware on you (airgapped laptop, hardware wallet, etc.) then you are going to have to import it in to your hot mobile wallet. If you don't think a mobile wallet is secure enough for storing that amount of bitcoin long term, then you shouldn't really think it's secure enough to import that amount of bitcoin in to either.

I'm struggling to foresee a situation where I am out and about suddenly want to make a significant and completely unplanned purchase using bitcoin where such a paper wallet would be useful. Any time I want to spend a large amount of bitcoin in person (larger than I would be comfortable storing on a mobile wallet), then I have planned it in advance and have taken my hardware wallet with me.

[LoyceV]

I'm not really a fan of that method. To spend from that encrypted paper wallet while on the go without any additional hardware on you (airgapped laptop, hardware wallet, etc.) then you are going to have to import it in to your hot mobile wallet. If you don't think a mobile wallet is secure enough for storing that amount of bitcoin long term, then you shouldn't really think it's secure enough to import that amount of bitcoin in to either.

I've had larger amounts on my mobile without problems (short-term), so I'm not directly worried about it. The paper wallet is already older than my current phone, which means I prevented exposure to one additional device by keeping it on paper instead of a hot wallet.

I'm struggling to foresee a situation where I am out and about suddenly want to make a significant and completely unplanned purchase using bitcoin where such a paper wallet would be useful.

I like to be prepared for that rare event, say a hotel with a "Bitcoin accepted" sign when I'm on vacation.
But you're right, chances are pretty small. That's why I haven't used it yet.

[n0nce]

That's my point indeed: I can carry an encrypted piece of paper around for many years, without any risk. I don't expect to use it any time soon, it's just for whenever an opportunity arises. I don't want to carry a hardware wallet with me.

I'm struggling to foresee a situation where I am out and about suddenly want to make a significant and completely unplanned purchase using bitcoin where such a paper wallet would be useful. Any time I want to spend a large amount of bitcoin in person (larger than I would be comfortable storing on a mobile wallet), then I have planned it in advance and have taken my hardware wallet with me.

I like to be prepared for that rare event, say a hotel with a "Bitcoin accepted" sign when I'm on vacation.
But you're right, chances are pretty small. That's why I haven't used it yet.

I think that Loyce's encrypted paper wallet makes sense for an 'emergency money' kind of scenario. It allows you to carry around enough money to save you in a very bad situation, like, you're in a different country and your cash is stolen & cards are blocked or something like that. While not having millions of sats in mobile wallets for years on end. For that scenario, I understand it. There was a story recently here of someone in that exact position, but I can't find it right now. It was titled 'How Bitcoin saved me' or something like that.