_act_ (OP)
Legendary
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Activity: 1008
Merit: 1271
Lightning network is good with small amount of BTC
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 23, 2023, 12:15:05 PM |
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For those of you that point to Nunchuk to be a good bitcoin what, what do you think about this? Continue reading. I can see that some people are saying that Nunchuk bitcoin wallet is good. I tried the wallet and it is very good. It has legacy, compatible, segwit and taproot addresses. It has many good things that a bitcoin wallet should have. But when I was checking Nunchuk official website, I saw that your seed phrase can be stored on a cloud. WORRIED ABOUT BACKUPS? We've got you covered! Wallet and key backups are automatically encrypted and securely stored in the cloud. With our assisted recovery feature, you can regain access to your wallet with a few simple steps. Before that can be done, I think you have to register or maybe you will also pay. I do not care to know what is what about this. I want to try their testnet, I was taken to registration page to register. I have worked on the wallet, it is a good wallet but this about cloud backup make the wallet look very bad.
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Yaunfitda
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 23, 2023, 09:13:58 PM |
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For those of you that point to Nunchuk to be a good bitcoin what, what do you think about this? Continue reading. I can see that some people are saying that Nunchuk bitcoin wallet is good. I tried the wallet and it is very good. It has legacy, compatible, segwit and taproot addresses. It has many good things that a bitcoin wallet should have. But when I was checking Nunchuk official website, I saw that your seed phrase can be stored on a cloud. WORRIED ABOUT BACKUPS? We've got you covered! Wallet and key backups are automatically encrypted and securely stored in the cloud. With our assisted recovery feature, you can regain access to your wallet with a few simple steps. Before that can be done, I think you have to register or maybe you will also pay. I do not care to know what is what about this. I want to try their testnet, I was taken to registration page to register. I have worked on the wallet, it is a good wallet but this about cloud backup make the wallet look very bad. Good thing is that they are open source: https://github.com/nunchuk-ioBad thing is that as you have said, backup is thru the clouds. And as we all know of, this is one of those 'no-no' that we as bitcoin holders shouldn't do. Have our backups online. And yes, you have to pay: Iron hand 120 / year The starter pack. Secure your bitcoin with multisig, one-tap signing and cloud backups. honey badger 450 / year The gold standard. Best-in-class multisig wallet with a built-in inheritance plan.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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paid2
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 23, 2023, 10:00:05 PM |
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Good thing is that they are open source: https://github.com/nunchuk-ioBad thing is that as you have said, backup is thru the clouds. And as we all know of, this is one of those 'no-no' that we as bitcoin holders shouldn't do. Have our backups online. And yes, you have to pay: Iron hand 120 / year The starter pack. Secure your bitcoin with multisig, one-tap signing and cloud backups. honey badger 450 / year The gold standard. Best-in-class multisig wallet with a built-in inheritance plan.
You are right, storing your seed phrase via a cloud is one of the worst solutions imaginable. But as long as it is not mandatory to use this option, is it really a problem? Trezor and Ledger offer the same type of service, I'm not supporting it, but as long as the user has the choice to use the service or not, I don't see a problem.
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tabas
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 23, 2023, 10:36:57 PM |
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For a beginner when they see such feature that your seeds are automatically stored on the cloud, sounds cool. But of course, as one becomes more educated on this market and even with the smallest technical knowledge about wallets and private keys, this isn't cool. I am now worried that after Ledger has given the opt-in recover service, other wallet services might imitate that feature of theirs and that's going be seen for every wallet that we use. But not at least for those wallets like Electrum, Wasabi and others that have the same privacy oriented advocacy. But as long as it is not mandatory to use this option, is it really a problem? Trezor and Ledger offer the same type of service, I'm not supporting it, but as long as the user has the choice to use the service or not, I don't see a problem.
For now it might not be a mandatory choice but we don't know what lies in the future and they can change these settings and rules.
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Potato Chips
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 23, 2023, 11:34:40 PM |
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Personally, I do not think highly of wallets who encourages and utilizes (for profits) cloud backups because it is either you don't get the weight of it or you're taking advantage of people who do not know any better.
There are a lot of bitcoin wallets out there which essentially gives us room to be picky. Therefore when it comes to reputation, I'd also consider how one does their business or should I say their ethics? especially if I wanna prevent ledger-styled surprises lol.
In short, my take is, find an alternative first for your use case. Now, if you must use this, keep the amount small.
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sheenshane
Legendary
Offline
Activity: 2464
Merit: 1231
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May 23, 2023, 11:50:43 PM |
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Seems this wallet is new to my ears, I never heard of it before. I went to their Twitter page seems this wallet is good and read different articles regarding them due to my confusion about them. But I never see that they stored their seed phrase on the cloud, if that is true, this is generally considered risky and not recommended. IMO, there are many wallets that you'll use that has been proven and tested when it comes to security, if I will use this wallet maybe only a small amount for experience purpose only.
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Sarah Azhari
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 24, 2023, 12:01:04 AM |
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For a beginner when they see such feature that your seeds are automatically stored on the cloud, sounds cool. But of course, as one becomes more educated on this market and even with the smallest technical knowledge about wallets and private keys, this isn't cool.
A Wallet like this will be of particular concern to hackers, they will definitely keep an eye on the Nunchuk wallet, especially a gap (cloud) which the hacker can be entering it freely. Many beginners today want something practical and don't want to be complicated to keep the seed and the private key, even sometimes they know if more complicated to keep the seed offline is safer, but they ignored it. This situation is utilized by the developer to make it practical and make a new environment by cloud. And, certainly, a market like this will keep growing in the future, but on the other side, we will continue also in the future to read a new thread about: Help my wallet being hacked in the cloud.
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Signature for rent
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SquirrelJulietGarden
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 24, 2023, 03:15:51 AM |
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A Wallet like this will be of particular concern to hackers, they will definitely keep an eye on the Nunchuk wallet, especially a gap (cloud) which the hacker can be entering it freely. Many beginners today want something practical and don't want to be complicated to keep the seed and the private key, even sometimes they know if more complicated to keep the seed offline is safer, but they ignored it. This situation is utilized by the developer to make it practical and make a new environment by cloud.
And, certainly, a market like this will keep growing in the future, but on the other side, we will continue also in the future to read a new thread about: Help my wallet being hacked in the cloud.
Hackers will spend more efforts to hack into a system because they know that if they succeed, they will get big data and big money. Oppositely if they hack a person, what they get will be smaller if they don't know what that person owns. I am not discussing about targeting like a millionaire or a billionaire, just a random person and reward should be small even if you successfully hack into an individual device or account. Because of potential big things from a system hack, hackers will aim at systems like cloud storage, a corporate data base and similar big systems. I agree that storing sensitive personal information, wallet seed, wallet passwords in cloud is bad. It is worse when it is done by a big system, a wallet and I don't advice anyone to do this individually. Using Nunchuk wallet and accept that risk, it is your choice. I don't choose it because I have better wallets without risk from cloud storage, backkup. I am fully responsible for my keys, my backups and my coins. I am fully aware that if I lose my keys, my backups, I will lose my coins but I don't want to lose my coins because I trust a third party and it fails to serve me.
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tabas
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 24, 2023, 12:55:44 PM |
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For a beginner when they see such feature that your seeds are automatically stored on the cloud, sounds cool. But of course, as one becomes more educated on this market and even with the smallest technical knowledge about wallets and private keys, this isn't cool.
A Wallet like this will be of particular concern to hackers, they will definitely keep an eye on the Nunchuk wallet, especially a gap (cloud) which the hacker can be entering it freely. Many beginners today want something practical and don't want to be complicated to keep the seed and the private key, even sometimes they know if more complicated to keep the seed offline is safer, but they ignored it. This situation is utilized by the developer to make it practical and make a new environment by cloud. And, certainly, a market like this will keep growing in the future, but on the other side, we will continue also in the future to read a new thread about: Help my wallet being hacked in the cloud. That's the problem with many newbies today. If they see that something complicated and technical, they don't want to learn about it. As long as it's too easy and comfortable to them, they think that there's no need to be worried with. But they're wrong on that, until they see the problems that lies with these wallets that have been backing up the seeds on the cloud although it's just an opt-in, I still don't like a wallet to have this feature. They're breaking the purpose of what seeds and private keys are for and it should have been kept only by the owner, not with a cloud storage or any other third party.
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Z390
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 24, 2023, 01:28:59 PM |
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Any crypto wallet company or organization that sees recovery seed or private key backup through cloud as normal thing are not supposed to create a crypto wallet, they are better off doing something else, because crypto wallet developers should be the ones to understand that cloud backup is against the ways of keeping Bitcoin through decentralization.
So I will just keep using Electrum, better protection is better than multiple features, there is no reason to ditch your popular crypto wallet for a new crypto wallet.
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🎁 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . 375% | 200 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | 🛞 | ☆ | | ☆ | 🛞 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀ .U P T O . ▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .300€ + 50 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .F R E E S P I N S . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | 🎁 | |
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BIT-BENDER
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 24, 2023, 06:54:48 PM |
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Although some would say Nunchuk wallet saving their users private key in the cloud can come in handy when they lost the private key or something in that nature occurs. I have not used Nunchuk wallet yet I am still a more reverse Bitcoin enthusiast and I haven't explored any other wallet since I get all I need from electrum wallet but that said I would check Nunchuk wallet for myself.
I had a friend who save thing in his icloud and he always thought he was totally safe till it got infiltrated by scammers, I don't know how secured the Nunchuk wallet is but I am certain nothing saved on the cloud is totally safe so that's a red flag for me.
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🎁 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . 375% | 200 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | 🛞 | ☆ | | ☆ | 🛞 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀ .U P T O . ▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .300€ + 50 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .F R E E S P I N S . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | 🎁 | |
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hd49728
Legendary
Offline
Activity: 2212
Merit: 1080
Fully Regulated Crypto Casino
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 25, 2023, 02:16:58 AM |
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Although some would say Nunchuk wallet saving their users private key in the cloud
A self custody wallet means full control of private keys and completely secret. The user is the only one person who has access to private key of the wallet. If a wallet that claims to be self-custody wallet but has options for users to store private keys, seeds on any third-party services, data centers, cloud storage, it's a big red flag. We don't know what will happen with third-parties and if they are bad, we will lose our keys and coins. I had a friend who save thing in his icloud and he always thought he was totally safe till it got infiltrated by scammers, I don't know how secured the Nunchuk wallet is but I am certain nothing saved on the cloud is totally safe so that's a red flag for me.
You should give your him another warning about risk of storing data on iCloud. Tell him that don't ignore risk before it is too late and you wish him the best and hope that he won't come to tell you about loss in future.
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michellee
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 25, 2023, 03:27:44 AM |
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Wallet and key backups are automatically encrypted and securely stored in the cloud.
That is what I mostly avoid. I do not feel secure saving my data on the cloud. I read many cases of hijacking data on the cloud, which makes me avoid the cloud. Besides that, we must pay the subscription to the server provider to have storage to store the data. I still feel better about saving it offline because I have full control of my wallet and can prevent any bad things. I can save it in a safe place that only I know. But if a person wants to try their service, it is better not to leave the wallet with a big amount. Only save the amount you can afford using that wallet and keep the rest offline.
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Obari
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May 25, 2023, 07:51:55 AM |
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Good thing is that they are open source: https://github.com/nunchuk-ioBad thing is that as you have said, backup is thru the clouds. And as we all know of, this is one of those 'no-no' that we as bitcoin holders shouldn't do. Have our backups online. And yes, you have to pay: Iron hand 120 / year The starter pack. Secure your bitcoin with multisig, one-tap signing and cloud backups. honey badger 450 / year The gold standard. Best-in-class multisig wallet with a built-in inheritance plan.
You are right, storing your seed phrase via a cloud is one of the worst solutions imaginable. But as long as it is not mandatory to use this option, is it really a problem? Trezor and Ledger offer the same type of service, I'm not supporting it, but as long as the user has the choice to use the service or not, I don't see a problem. Exactly because I don't see any reasons to panic over this feature because it's not mandatory And it seems to dome degree, I find the wallet and interesting one and I hope they act to what they're preaching.
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noorman0
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May 25, 2023, 08:09:17 AM |
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-snip- I want to try their testnet, I was taken to registration page to register.
According to crypto security standards, any type of wallet that requires personal credentials other than a private key (or seed phrase) is actually insecure. I see they also offer a cloud key storage and recovery service, this is like a new ledger wallet feature that has recently started to lose some credibility.
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This space for rent. Available in mid January 2024 - PM me
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Husires
Legendary
Offline
Activity: 1596
Merit: 1288
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May 25, 2023, 09:02:41 AM |
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The fact that the wallet is open source does not mean that it is safe. If you are not a developer and you have reviewed the code yourself, then making the wallet open source or closed source will not change anything. And you can't trust whether the code you download from the store is the same as the open source code. I searched for the code and found that most of the libraries and codes were written recently without a real reviews from active developers, and there are some bugs, which suggests that there can be more. It is better to avoid it. Trezor and Ledger offer the same type of service, I'm not supporting it, but as long as the user has the choice to use the service or not, I don't see a problem.
Can you attach any source that Trezor provides a cloud storage service?
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Dave1
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May 25, 2023, 09:36:30 AM |
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Yeah, it's not safe to put your backup in a cloud, as you can see there is even a website dedicated website: https://hackingthe.cloud/and their github: https://github.com/Hacking-the-Cloud/hackingthe.cloudSo it's a bad practice to be honest, much better to look for alternative wallet, plus the price is really expensive in my opinion.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | │ | 1,000x LEVERAGE | │ | COMPETITIVE FEES | │ | INSTANT EXECUTION | │ | . TRADE NOW |
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Husires
Legendary
Offline
Activity: 1596
Merit: 1288
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 25, 2023, 09:42:30 AM |
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So did you click on any of the links above? Shamir's secret sharing (SSS) is an algorithm that securely splits your private key or seed into several parts and then you can assemble those parts back to the seed. Instead of splitting your seed in two which is bad advice and reducing its entropic strength, it's better to use Shamir's secret sharing (SSS). However, there is much discussion that using multi-signature addresses is better than Shamir's secret sharing (SSS). You can find the discussions here: https://bitcointalk.org/index.php?topic=5433064.0https://medium.com/bitbees/shamirs-secret-sharing-or-multisig-why-not-both-ad1be6dbccffI searched for any details about providing a cloud service, and I did not find it, on the contrary, from the same article I found. Never make digital copies of your recovery seed or recovery shares. Never upload it online! What happens if I lose so many recovery shares that I can't meet the required threshold? If you can’t meet the required threshold, your wallet will become unrecoverable. For example: if you use a 3-of-4 scheme, where 3 is the required threshold to recover the wallet, and you lose 2 or more of the recovery shares, your wallet will be unrecoverable.
Source https://trezor.io/learn/a/what-is-shamir-backup
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Dunamisx
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May 25, 2023, 10:30:04 AM |
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For those of you that point to Nunchuk to be a good bitcoin what, what do you think about this? Continue reading. I can see that some people are saying that Nunchuk bitcoin wallet is good. I tried the wallet and it is very good. It has legacy, compatible, segwit and taproot addresses. It has many good things that a bitcoin wallet should have. But when I was checking Nunchuk official website, I saw that your seed phrase can be stored on a cloud. WORRIED ABOUT BACKUPS? We've got you covered! Wallet and key backups are automatically encrypted and securely stored in the cloud. With our assisted recovery feature, you can regain access to your wallet with a few simple steps. Before that can be done, I think you have to register or maybe you will also pay. I do not care to know what is what about this. I want to try their testnet, I was taken to registration page to register. I have worked on the wallet, it is a good wallet but this about cloud backup make the wallet look very bad. Any form of wallet that promises you a seed backup on the cloud storage is not good for use, we should also learn from what ledger hardware wallet is turning into now, this is why we make it a necessity for every bitcoiners to always stay informed and updated on the trending event happening on bitcoin network or cryptocurrency in general, especially when it comes to the security and scam matters, we must always stayed informed, cloud storage are third party organizations and can decides to run a check on their central server over all data stored on their network, a member of their staff may also wish to engage in doing something fechtish, we cannot trust them with anything ones it comes to security and privacy affairs.
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