Wallet setup

[bitkilo]

Is it possible to setup a wallet so as the only transfer allowed is that of a QR code scan from mobile phone, i try to use bitcoin where possible but am still paranoid about storing it. I thought if the only way to spend any coins was to have my phone it might be a bit safer.

[Josepht]

Storing them on your phone isn't safer then storing them on your computer.

I advice you to make a paper wallet with ~90% of your bitcoins. You can keep the other 10% on e.g. your phone.

[bitkilo]

Storing them on your phone isn't safer then storing them on your computer.

I advice you to make a paper wallet with ~90% of your bitcoins. You can keep the other 10% on e.g. your phone.

Thanks, this is what i currently do. I buy my bitcoins though an atm and can only put on paper wallet when i get home, about 2 hours away. Until there on paper i worry.
I just changed my bank account so no transactions can be done online, money can only be taken out with my keycard now. This suits me and i dont worry anymore, wish i could do something simlar with bitcoin, any ideas anyone?

[Josepht]

Well, what you can do as well:

Take the QR code of your paper wallet address with you to the atm. The bitcoins will be sent immediately to your paper wallet.

[ranochigo]

Is it possible to setup a wallet so as the only transfer allowed is that of a QR code scan from mobile phone, i try to use bitcoin where possible but am still paranoid about storing it. I thought if the only way to spend any coins was to have my phone it might be a bit safer.

Phones isn't more secure than normal computers. They can have vulnerabilities. Basically anyone with your private key can spend your BTC. The best way would be to place it in a offline wallet. Banks are centralised which means they can control your account such that your money transfer can be controlled. With bitcoin, no such feature exist since no one can  control how your coins will be spent.

[SwingBTC]

Storing them on your phone isn't safer then storing them on your computer.

I advice you to make a paper wallet with ~90% of your bitcoins. You can keep the other 10% on e.g. your phone.

Well, you aren't carrying your computer with you and you can lose your phone.

[schutzhund]

I have a wallet called mycelium on my phone and does the same barcode thing that you ask for but i am not sure how safe is that.

[ranochigo]

I have a wallet called mycelium on my phone and does the same barcode thing that you ask for but i am not sure how safe is that.

AFAIK, it does not do any barcode 2FA. It only allows you to access paper wallets and sweep keys or just scanning address.

[kingama]

Well, what you can do as well:

Take the QR code of your paper wallet address with you to the atm. The bitcoins will be sent immediately to your paper wallet.

This is the correct answer. You create your paper wallets at home and only bring the address QR code (without the private key portion) out to the ATM.

For extra security you could generate a BIP38-encrypted addresses at a bank using your laptop in the safe deposit box private area. Then write down the encrypted private key and address 3 times each and store the encrypted private key papers in the safe deposit box. You can then take the addresses out with you and generate the QR code paper at home. With this method, someone would have to get your safe deposit box key, sign in with an ID and know your BIP38 password in order to steal your bitcoins.

[giveBTCpls]

I would never carry any BTC on a portable device unless it was a Trezor one. I don't trust phones enough, but that's just me tho.

[cinder]

Phone tend to get robbed more often than a full desktop PC at home.