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Author Topic: Most Secure bitcoin wallet ?  (Read 36248 times)
CasioK
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October 23, 2015, 03:57:08 AM
 #261

Get a cheap pc/laptop that never see the internet. Install a wallet via usb

But if you choose only that way then it can be unsafe.
Because if this pc stops working and you don't have any other backup then you already have lost the bitcoins.
At least 2-3 backups you should have, 1 usb, 1 paper wallet, 1 pc/laptop etc..
also the fact that everytime you need to spend your coins you would need to start up your laptop, meaning if you go outside and find a merchant that accepts bitcoin you wouldnt be able to pay them because your laptop would be at time.
the same logic applies for paper and usb wallets  Embarrassed, i like bitcoin but i dont like the fact that it needs to be locked away to be safe,
You won't walk on the streets with all of your bitcoins in your wallet I guess.
This is the reason why bigger mobile wallet providers offer a so called cold storage (XAPO wault, etc) next to your everyday spending wallet.
It's like you only take a little amount of cash in your leather wallet in your pocket, the rest of your money is in the bank, in the safe at home or in your pillow Smiley
In this case you can manage your everyday spending of your bitcoins from your mobile wallet with a lower balance and the rest of your BTC can be safe in cold storage or in phisical storage like Trezor.


But most secure in the sense not vulnerable from cyber attack or system crash.
To solve system crash, we must need multiple back ups.
To prevent  attack or hacking, we must go with strong encryption with long multi-character set password.

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October 23, 2015, 03:58:43 AM
 #262

Get a cheap pc/laptop that never see the internet. Install a wallet via usb

But if you choose only that way then it can be unsafe.
Because if this pc stops working and you don't have any other backup then you already have lost the bitcoins.
At least 2-3 backups you should have, 1 usb, 1 paper wallet, 1 pc/laptop etc..
also the fact that everytime you need to spend your coins you would need to start up your laptop, meaning if you go outside and find a merchant that accepts bitcoin you wouldnt be able to pay them because your laptop would be at time.
the same logic applies for paper and usb wallets  Embarrassed, i like bitcoin but i dont like the fact that it needs to be locked away to be safe,
You won't walk on the streets with all of your bitcoins in your wallet I guess.
This is the reason why bigger mobile wallet providers offer a so called cold storage (XAPO wault, etc) next to your everyday spending wallet.
It's like you only take a little amount of cash in your leather wallet in your pocket, the rest of your money is in the bank, in the safe at home or in your pillow Smiley
In this case you can manage your everyday spending of your bitcoins from your mobile wallet with a lower balance and the rest of your BTC can be safe in cold storage or in phisical storage like Trezor.


But most secure in the sense not vulnerable from cyber attack or system crash.
To solve system crash, we must need multiple back ups.
To prevent  attack or hacking, we must go with strong encryption with long multi-character set password.

If you want the most secure wallet, what you want is to have it on a offline computer. Does not get any better. And the wallet best suited to make signing transaction with a offline computer the easiest is Armory.

You just insert usb key, and let it guide you through the process of importing and signing the transaction with the offline computer.

It never connect online, so its the safest.


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October 23, 2015, 04:10:06 AM
 #263


But most secure in the sense not vulnerable from cyber attack or system crash.
To solve system crash, we must need multiple back ups.
To prevent  attack or hacking, we must go with strong encryption with long multi-character set password.

And opensource + audited software, your passwords is not worth anything if you have a tampered software or a keylogger.

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October 23, 2015, 04:13:45 AM
 #264


But most secure in the sense not vulnerable from cyber attack or system crash.
To solve system crash, we must need multiple back ups.
To prevent  attack or hacking, we must go with strong encryption with long multi-character set password.

And opensource + audited software, your passwords is not worth anything if you have a tampered software or a keylogger.

Depending on how its setup, the best protection here, beside the usual anti-malware, would be a two way firewall. Normally windows let outgoing connection go out no problem, which means its very easy for a infected computer to send out your personal information.

With a two way firewall, its much harder.


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October 25, 2015, 03:31:23 PM
 #265


But most secure in the sense not vulnerable from cyber attack or system crash.
To solve system crash, we must need multiple back ups.
To prevent  attack or hacking, we must go with strong encryption with long multi-character set password.

And opensource + audited software, your passwords is not worth anything if you have a tampered software or a keylogger.

You also can use paper wallet and store the details in a file in your pc/print..
Or store then in your phone but it's all about the security and the activity that you do.
To take the preventive measures install anti-virus, anti-malware,advanced firewall and other high security tool.
Paper wallet is the cheapest and is secured enough, but if you want more safety i would go for Trezor.
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October 25, 2015, 03:41:26 PM
 #266

Blockchain.info is all the best Bitcoin wallet i have ever seen, best from other. It provides good security for securing your money in wallet.  Smiley
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October 25, 2015, 03:54:47 PM
 #267

Blockchain.info is all the best Bitcoin wallet i have ever seen, best from other. It provides good security for securing your money in wallet.  Smiley

Well you think that it is the best but i don't think so.
Because last few weeks i saw many negative experiences from the members here in forum.
Also the official bitcoin website has removed blockchain.info from their wallet choices.
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October 25, 2015, 09:05:21 PM
 #268

Blockchain.info is all the best Bitcoin wallet i have ever seen, best from other. It provides good security for securing your money in wallet.  Smiley

Well you think that it is the best but i don't think so.
Because last few weeks i saw many negative experiences from the members here in forum.
Also the official bitcoin website has removed blockchain.info from their wallet choices.

The worst Bitcoin wallet by far! Being removed from official website wallet page only confirms this. The buggiest wallet out there that was very prone to the recent malleability attacks. Many users have complained about it in the last few weeks as you said it and yes it's an online wallet. We shouldn't be really using online wallets!

Cheers!
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October 25, 2015, 09:12:41 PM
 #269

A cold wallet that runs bitcoin-qt....

Because cold wallets are almost unhackable, and qt is the safest.

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October 26, 2015, 12:42:49 AM
 #270

Get a cheap pc/laptop that never see the internet. Install a wallet via usb

But if you choose only that way then it can be unsafe.
Because if this pc stops working and you don't have any other backup then you already have lost the bitcoins.
At least 2-3 backups you should have, 1 usb, 1 paper wallet, 1 pc/laptop etc..
also the fact that everytime you need to spend your coins you would need to start up your laptop, meaning if you go outside and find a merchant that accepts bitcoin you wouldnt be able to pay them because your laptop would be at time.
the same logic applies for paper and usb wallets  Embarrassed, i like bitcoin but i dont like the fact that it needs to be locked away to be safe,
You won't walk on the streets with all of your bitcoins in your wallet I guess.
This is the reason why bigger mobile wallet providers offer a so called cold storage (XAPO wault, etc) next to your everyday spending wallet.
It's like you only take a little amount of cash in your leather wallet in your pocket, the rest of your money is in the bank, in the safe at home or in your pillow Smiley
In this case you can manage your everyday spending of your bitcoins from your mobile wallet with a lower balance and the rest of your BTC can be safe in cold storage or in phisical storage like Trezor.


But most secure in the sense not vulnerable from cyber attack or system crash.
To solve system crash, we must need multiple back ups.
To prevent  attack or hacking, we must go with strong encryption with long multi-character set password.

If you want the most secure wallet, what you want is to have it on a offline computer. Does not get any better. And the wallet best suited to make signing transaction with a offline computer the easiest is Armory.

You just insert usb key, and let it guide you through the process of importing and signing the transaction with the offline computer.

It never connect online, so its the safest.

If you want to do cold storage using two computers at the moment Electrum is your better choice. It functions just like Armory with online/offline wallets. Armory 0.93.2 will not work with the latest Bitcoin Core 0.11.1. Armory signs HighS while 0.11.1 mandates LowS.

I have used both Electrum and Armory for cold storage using two computers and have to tell you that Trezor is easier and cheaper. It works fine with latest Electrum 2.5.1. When working, Armory as a fully validating node does have a privacy advantage over Electrum because the Electrum server you use knows which addresses you are using. But Armory is no more secure than Trezor.

If Armory (or Bitcoin Core) ever supports Trezor that would be the ideal combination for privacy plus security. Until then I am fine using Trezor with Electrum 2.5.1. Heck, if you cannot afford $99 for a Trezor the Ledger Nano with Starter USB is only $40. Both are proven and work with your phone.

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October 26, 2015, 11:10:16 AM
 #271

-snip-
I have used both Electrum and Armory for cold storage using two computers and have to tell you that Trezor is easier and cheaper...
-snip-

When you say that Trezor is cheaper i mean you meant expensive.
I don't know if there is any more expensive hardware wallet than Trezor.
Ledger Nano i think that do the same job like Trezor but unfortunately i don't own any of them.
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October 26, 2015, 07:44:21 PM
 #272

For me all wallet is secure but theres a way to secured it more and better.. How? Heres my step if you windows just install a virtual box or any vm ware install os like win 7 or xp.. after that use bitcoin core as your wallet or electrum then dont install any thing in the virtual xp or win 7 or 8 now Download a firewall block or any software that can block any outgoing and incoming traffic from firewall. open  the software block all out going and incoming traffic in to the firewall then put the bitcoin core or electrum wallet as whitelist... thats very good ways to secured your wallet...

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October 27, 2015, 07:21:16 AM
 #273

A cold wallet that runs bitcoin-qt....

Because cold wallets are almost unhackable, and qt is the safest.



then how you do a transaction, you must be connected to the net to do it

my suggestion is a hot wallet that run on a dedicated server for Core only
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October 27, 2015, 08:05:17 AM
 #274

A cold wallet that runs bitcoin-qt....

Because cold wallets are almost unhackable, and qt is the safest.



then how you do a transaction, you must be connected to the net to do it

my suggestion is a hot wallet that run on a dedicated server for Core only

Leaving a dedicated server running (I assuming connected to internet) does not sound like a great idea overall.  It is better then those running hotwallets on machines they surf web and do lots of things on.

I think cold storage is the way to go with sizable amounts.  If spending money only sure hot wallet is not to bad for that amount of BTC.
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October 27, 2015, 08:06:23 AM
 #275

A cold wallet that runs bitcoin-qt....

Because cold wallets are almost unhackable, and qt is the safest.



Yes Bitcoin -qt now becomes bitcoin core, is the safest wallet.
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October 27, 2015, 10:59:05 AM
 #276

A cold wallet that runs bitcoin-qt....

Because cold wallets are almost unhackable, and qt is the safest.



then how you do a transaction, you must be connected to the net to do it

my suggestion is a hot wallet that run on a dedicated server for Core only

Leaving a dedicated server running (I assuming connected to internet) does not sound like a great idea overall.  It is better then those running hotwallets on machines they surf web and do lots of things on.

I think cold storage is the way to go with sizable amounts.  If spending money only sure hot wallet is not to bad for that amount of BTC.

i think there is no way to hack a dedicated server that run the client of bitcoin only, how can you hack it if i do't surf o download anything, and most important how can you know that he is running the bitcoin client...
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October 27, 2015, 12:34:14 PM
 #277

A cold wallet that runs bitcoin-qt....

Because cold wallets are almost unhackable, and qt is the safest.



then how you do a transaction, you must be connected to the net to do it

my suggestion is a hot wallet that run on a dedicated server for Core only
You can easily download the UXTO info and construct a signed transaction in core and broadcast it. I would however say that there are little difference between wallets in terms of security when it comes to cold storage.

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October 27, 2015, 12:48:06 PM
 #278

Get a cheap pc/laptop that never see the internet. Install a wallet via usb

But if you choose only that way then it can be unsafe.
Because if this pc stops working and you don't have any other backup then you already have lost the bitcoins.
At least 2-3 backups you should have, 1 usb, 1 paper wallet, 1 pc/laptop etc..
also the fact that everytime you need to spend your coins you would need to start up your laptop, meaning if you go outside and find a merchant that accepts bitcoin you wouldnt be able to pay them because your laptop would be at time.
the same logic applies for paper and usb wallets  Embarrassed, i like bitcoin but i dont like the fact that it needs to be locked away to be safe,
You won't walk on the streets with all of your bitcoins in your wallet I guess.
This is the reason why bigger mobile wallet providers offer a so called cold storage (XAPO wault, etc) next to your everyday spending wallet.
It's like you only take a little amount of cash in your leather wallet in your pocket, the rest of your money is in the bank, in the safe at home or in your pillow Smiley
In this case you can manage your everyday spending of your bitcoins from your mobile wallet with a lower balance and the rest of your BTC can be safe in cold storage or in phisical storage like Trezor.

ya but technically people still carry a majority of their cash in person by having a debit card or something like that. bitcoins the same as in they are both digital
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October 27, 2015, 04:47:35 PM
 #279

I trust blockchain.info. The security of your wallet totally depends on you.
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October 27, 2015, 05:52:07 PM
 #280

I trust blockchain.info. The security of your wallet totally depends on you.

Yesterday is a good example of why you should not trust in blockchain alone.  They were down... what if you needed to get in?  A paperwallet of the account is kinda important for issues like that.

With a paperwallet you could have put it in another wallet and used it even when blockchain was down.  It's honestly hard to beat cold paper wallet.
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