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Author Topic: Safest wallet  (Read 5654 times)
ranochigo
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June 16, 2014, 08:40:49 AM
 #101

There is nothing called "safest".

Any wallet can still be hacked or cracked, it depends on how vulnerable your mind is.

Still, some are more vulnerable than the others.
For example, blockchain.info is better than coinbase, as you don't need to worry about the site vanishing.
Similarly, offline wallets (created correctly) are better than online wallets, as you don't need to worry about keylogger and hacking.

Offline wallet isn't 100% foolproof. Yes, they are more secure than any other method. But, if the device that generated the offline wallet have problems with the RNG like what happened to android last time, you can also be hacked. It may not happen but you still have to pay attention to the bitcoin news and move your bitcoin if your wallet had vulnerabilities.

Yes, and so I have emphasized the offline wallets need to be created correctly.

Regarding the safety, a paper wallet generated with internet connection would be completely different from a paper wallet generated without internet connection.
But how can you predict if the device have problem with RNG? Also, you aren't fully correct on your last statement. If there is a malware on the computer and you turn of the computer's internet connection only during your wallet creation time, the malware can easily store your private key and send when there is a internet connection.

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Lamigo
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June 16, 2014, 09:01:28 AM
 #102

But how can you predict if the device have problem with RNG? Also, you aren't fully correct on your last statement. If there is a malware on the computer and you turn of the computer's internet connection only during your wallet creation time, the malware can easily store your private key and send when there is a internet connection.

If you don't have enough trust in PRNG, you can use TRNG.

An offline wallet should be created and maintained in a completely offline machine, and you should only use it to sign (but not push) your bitcoin transaction.

When you spend bitcoin on your paper wallet, you should create a new one (again correctly) instead of re-using it.
Not only because you have already imported the pirvate key in another machine, but also because your public key is known to the world.


DannyElfman
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June 16, 2014, 05:48:34 PM
 #103

I stick with Electrum. My favorite desktop wallet. I'm not sure about the implications of its node system, though, I'm still trying to figure it out.

This spot for rent.
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June 16, 2014, 09:00:57 PM
 #104

Just want to ask which wallet is the safest to store my BTC on? Smiley

Any suggestions, please.

BLOCKCHAIN!!!!

its the best and fastest btc wallet online !! Smiley

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June 16, 2014, 11:01:10 PM
 #105

I think that Electrum is the best one.
jonald_fyookball
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June 17, 2014, 12:10:41 AM
 #106

I stick with Electrum. My favorite desktop wallet. I'm not sure about the implications of its node system, though, I'm still trying to figure it out.

The only downside I'm aware of is that you're not contributing to the network because you're not running a full node.

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June 17, 2014, 01:18:48 AM
 #107

Never called the safest thing to develop a sense of safety is the most important. Use linux system and set a strong password is recommended.
ranochigo
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June 17, 2014, 01:46:26 AM
 #108

Just want to ask which wallet is the safest to store my BTC on? Smiley

Any suggestions, please.

BLOCKCHAIN!!!!

its the best and fastest btc wallet online !! Smiley
You can still get infected by a malware which can collect your blockchain.info password, best is to use an offline cold storage.

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2double0
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June 17, 2014, 08:12:06 AM
 #109

They are all safe as long as you follow safety guidelines such as using 2factorauth on a phone and keeping it offline and using a strong encryption.
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June 17, 2014, 11:06:57 AM
 #110

They are all safe as long as you follow safety guidelines such as using 2factorauth on a phone and keeping it offline and using a strong encryption.

It is a good idea to have 2FA if you are using hosted wallets (eg. coinbase and bitstamp), but you won't be able to keep it offline nor make backups.

ranochigo
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June 17, 2014, 11:54:57 AM
 #111

They are all safe as long as you follow safety guidelines such as using 2factorauth on a phone and keeping it offline and using a strong encryption.

It is a good idea to have 2FA if you are using hosted wallets (eg. coinbase and bitstamp), but you won't be able to keep it offline nor make backups.
Still, there's still some risk, it is possible for the exchange to run away with your funds or get hacked. If that happens, you cannot get back your funds.

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June 17, 2014, 12:51:21 PM
 #112

Run multibit on computer without WiFi and dont connect it to internet ever. Send your BTC from computer with internet to your offline computer. 100% safety
AuroraHF
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June 17, 2014, 01:07:13 PM
 #113

Electrum.

If you're moving around and need access to your wallets on your phones and tablets, I suggest using Blockchain!

lmao
blablaace
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June 17, 2014, 09:01:57 PM
 #114

yes but this mobile wallets are not so much safe
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June 17, 2014, 10:37:54 PM
 #115

everybody "in the know" seems to keep telling me to run my own bitcoin-qt wallet if my system can handle it

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June 18, 2014, 10:51:07 AM
 #116

I've only used the main bitcoin qt and electrum, as far as I know they are the safest though I'm no expert.
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June 18, 2014, 12:30:59 PM
 #117

All popular wallets (Multibit, Bitcoin-QT, Electrum) are safe if you store your BTC in cold storage.
ranochigo
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June 18, 2014, 01:27:31 PM
 #118

I've only used the main bitcoin qt and electrum, as far as I know they are the safest though I'm no expert.
If you consider them as hot wallet, small amounts, then probably yes if you don't install any virus. If not, cold storage is the safest, generate it on a offline LINUX computer.

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June 18, 2014, 09:15:49 PM
 #119

Run multibit on computer without WiFi and dont connect it to internet ever. Send your BTC from computer with internet to your offline computer. 100% safety


It is one way to do it but you can have a paper wallet and send money to it

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August 24, 2014, 08:21:59 PM
 #120

now when coinbase is not so safe, i need to find better wallet..

which one would u guys recommend?
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