Your Bitcoin storage solution? "Share It!"

[jonald_fyookball]

For cold storage I use electrum.  Deterministic seed is memorized and wallet deleted.  (But I have a watch only version)

[MNDan]

Here is my cold storage procedure - fairly solid as near as I can tell...

Creating and loading the wallet -

1) Save to your hard drive the bitaddress.org URL for generating BIP-38 encrypted paper wallets.
2) Create a LINUX LiveCD for booting from a flash drive for a fresh, offline OS.
3) Disconnect computer from the internet, boot into LiveCD, and generate an encrypted paper wallet via the bitaddress.ord URL (running standalone). DON'T LOSE YOUR PASSWORD!
4) Save the wallet off as a PDF and also print multiple copies. Since it's encrypted, you can have a few copies and keep them multiple places and the PDF will also be available if the paper fades or is destroyed.
5) Reboot regular OS and head out to the exchange.
7) Send your bitcoin to the public key of your paper wallet, starting with a small amount and confirming it got there via blockchain.info.

Getting bitcoin back out of the wallet -

1) Using the block chain website or app on an android tablet, scan the encrypted private key of the paper wallet (I could also use the bitaddress.org code offline to decrypt it manually).
2) The app/site will ask for the key you used to BIP-38 encrypt the private key - type in the password used to encrypt it and the wallet's bitcoin will be accessable to send/spend.
3) Sweep the wallet into your blockchain online wallet. (Important since you must spend all coin in a paper wallet at once or risk losing the "change".)
4) Send any bitcoin that you don't want to keep in a hot wallet into a new paper wallet, created in the same way you created the first one. You can create multiple paper wallets at once above, so you can create a bunch at once and just move your change to the next paper wallet in the list.

[Brangdon]

I think if someone is thinking to use a laptop/notebook as a cold storage - Pi-Wallet is better much better solution

It depends on how cold you want it. I considered Pi, but to do anything with it I'd need to hook it up to keyboard and screen, which wouldn't be convenient for me.

[spartacusrex]

+200 character passphrase for brain wallet..

Took a couple of weeks before I was SURE i could remember it. Then boom. No USB keys, no files, no stress.

cheers.

[roslinpl]

+200 character passphrase for brain wallet..

Took a couple of weeks before I was SURE i could remember it. Then boom. No USB keys, no files, no stress.

cheers.

I have a story - I had an login ID to my bank account. I remembered it for 8 years.
I never wrote it down, it was about 12 digit number.
And suddenly after 8 years I want to type it and login - puff - I do not remember ... and I was in need to contact bank support etc.

this is what I think about brain wallets

[jonald_fyookball]

+200 character passphrase for brain wallet..

Took a couple of weeks before I was SURE i could remember it. Then boom. No USB keys, no files, no stress.

cheers.

I have a story - I had an login ID to my bank account. I remembered it for 8 years.
I never wrote it down, it was about 12 digit number.
And suddenly after 8 years I want to type it and login - puff - I do not remember ... and I was in need to contact bank support etc.

this is what I think about brain wallets

Yep.  Can happen.  As a backup, you can split your brain wallet in two or more pieces and store in different offsite locations or give to 2 different trusted parties.

[jparsley]

I use blockchain.info, i only access from secure mobile browser

[grtthegreat]

I keep my private keys on my USB drive only. I don't have any other backup of them.

[spartacusrex]

+200 character passphrase for brain wallet..

Took a couple of weeks before I was SURE i could remember it. Then boom. No USB keys, no files, no stress.

cheers.

I have a story - I had an login ID to my bank account. I remembered it for 8 years.
I never wrote it down, it was about 12 digit number.
And suddenly after 8 years I want to type it and login - puff - I do not remember ... and I was in need to contact bank support etc.

this is what I think about brain wallets

I'll take my chances.

Did try the whole 'some-file some-where' backed-up, etc etc .. but it just stressed me out, far more.



 

[bitsire]

I've always found that the easiest way is to use a dedicated machine (such as an old laptop) for your Bitcoin storage wallet.

This laptop should definitely be running Linux and be kept offline until you need to send any of your Bitcoin funds.

As an extra safety measure, I rename the wallet file to something nondescript and bury it somewhere on the filesystem. I keep a dummy wallet visible in case someone did manage to hack in or if I was forced to open my client at gunpoint or something.

It blows my mind when I hear stories of someone losing Bitcoins because their main storage wallet was on their daily use Windoze machine.

[roslinpl]

I'll take my chances.

Did try the whole 'some-file some-where' backed-up, etc etc .. but it just stressed me out, far more.
 

I believe it is stressful while you have a lot of BTC

I am in a "happy" position that I earn and spend BTC I do not hodl.
So I do not feel the pressure

But I am 100% sure when I will get few BTC and I will hodl them - I will hammer them on a piece of iron.

[gweedo]

I use blockchain.info, i only access from secure mobile browser

Web wallets are so insecure, never use them as main client. Would you keep your lifesavings in your wallet that you could easily be pick pocketed from.

There is a risk while your money are kept on a server in some company.
Hundreds ways to lost it.

But so far blockchain.info is "safe" to use if you remember about all security steps like good password etc.
Anyway.

Brainwallet safest but not perfect

Please don't spread misinformation and confuse new users.

[roslinpl]

I use blockchain.info, i only access from secure mobile browser

Web wallets are so insecure, never use them as main client. Would you keep your lifesavings in your wallet that you could easily be pick pocketed from.

There is a risk while your money are kept on a server in some company.
Hundreds ways to lost it.

But so far blockchain.info is "safe" to use if you remember about all security steps like good password etc.
Anyway.

Brainwallet safest but not perfect

Please don't spread misinformation and confuse new users.

Do you mean about what I wrote about brain wallets or blockchain.info?

Ok - to be 100% precise

"blockchain.info is "probably safe" " IF you will not get hacked or they do not get hacked.

"Brainwallet safest but not perfect " - of you have a brain of a genius or at least VERY good memory....


I am sorry for spreading misinformation and confuse new users. I hope now it sounds better.

[jonald_fyookball]

I've always found that the easiest way is to use a dedicated machine (such as an old laptop) for your Bitcoin storage wallet.

This laptop should definitely be running Linux and be kept offline until you need to send any of your Bitcoin funds.

Isn't it safer still to NEVER put that machine online ever again?  (Instead sign the transaction offline and import it)

[Bitcoin Cat]

I have:

*A few Casascius coins
*Bitcoin QT with low balance for receiving mining rewards
*Some change in my phone to pay things outside the house
*A very secret storage for investments

[hobbes]

With my minimalistic Offbit private keys stay ultra cold: https://bitcointalk.org/index.php?topic=488915.0 Never any contact with online systems.

[Chris_Sabian]

I committed my cold storage private key to memory and destroyed all other copies.

If I understand correctly you memorized a string of fifty characters in base58, which is for practical mnemonic purposes completely random, and you don't have a backup.  That's something like 290 bits of information.  How often do you rehearse it, and when you rehearse it do you regenerate the address anew, check it to verify that you didn't have a memory fault?

Yeah.  Basically 52 random base58 characters.  No backup.

I rehearsed it every day for the first 2 weeks but reduced the frequency and these days am comfortable rehearsing about once per month.  I checked again following your post and managed with no hesitation (not as fluently as when I enter my e-mail password, but fairly solid).

I check it with a dedicated computer.  I just check that the private key is valid (the checksum is ok) and that it generates the correct address.

I've had this address for nearly a year now.  I transferred the balance from my last cold storage address, for which I also memorised the private key.  I just tried to recall this old key and was surprised to find that I succeeded, although I'll admit I blanked a couple of times and it took me about 2 minutes to recall in full.

I couldn't recommend this method to anyone, but it serves my purposes well.

Impressive.

[jonald_fyookball]

Many posters use an offline computer for cold storage.
I would like to offer a tip for acquiring a dedicated offline machine with minimum cost and hassle.

1. Go on craigslist and look for a cheap used laptop.  If you're patient, you may be able to find one in the $50-$100 range.  Make sure it has a USB port so you can copy files and programs with a thumb drive.

2. Permanently disable both the Ethernet cable port as well as the wifi.  Simply turning this off in windows may not work and may not be safe.  The best way I found to permanently revoke internet access is by deleting the associated driver files from the machine.  To determine the location of the files, first determine what version of windows it has, then perform a google search. For example "where are driver files located on windows 7".  Make sure you're deleting the right driver files though, because you could brick your computer if you delete the wrong ones.  Only delete the drivers for the internet connection! You can save a backup copy of any files you delete, just in case. 

3. Enjoy your offline computer!

[BlockchainHelp?]

Many posters use an offline computer for cold storage.
I would like to offer a tip for acquiring a dedicated offline machine with minimum cost and hassle.

1. Go on craigslist and look for a cheap used laptop.  If you're patient, you may be able to find one in the $50-$100 range.  Make sure it has a USB port so you can copy files and programs with a thumb drive.

2. Permanently disable both the Ethernet cable port as well as the wifi.  Simply turning this off in windows may not work and may not be safe.  The best way I found to permanently revoke internet access is by deleting the associated driver files from the machine.  To determine the location of the files, first determine what version of windows it has, then perform a google search. For example "where are driver files located on windows 7".  Make sure you're deleting the right driver files though, because you could brick your computer if you delete the wrong ones.  Only delete the drivers for the internet connection! You can save a backup copy of any files you delete, just in case. 

3. Enjoy your offline computer!

You can always just remove the wireless card.

[crazyivan]

?? Why doing this. If you machine is offline all the time besides the moment you actually send BTC to the exchange, how is your wallet going to be compromised?