Options for Securing your Bitcoin wallet

[BillyBobZorton]

So what do you suggest?
Paper wallets?
Multisig paper wallets maybe? (for extra security)

What would be a fail-proof solution in your guys opinion?

You are somewhat secure.

As long as all the devices are secure and you backup your HD seed or another wallet backup in another usb stick and store that in a secure location offsite and encrypted with a high entropy unique password than the only risk you may have is the original machine being compromised (unlikely as long as you took a few precautions) or you forget your passphrase.

This is where using either mutisig or Shamir’s 2-of-3 Secret Sharing Scheme comes into play because it protects you from both physical theft, hardware failures, or you developing amnesia and forgetting the passphrase.

It is also a good idea to split up your balances so not all of it is saved in one device in case it gets exploited and all your private keys stolen in one transaction. With paperwallets this is easier done.

The idea of needing several pieces of paper (which you will have spread across the homes of different trusted persons like parents/brothers) is pretty stressing... you never know what would happen, you could still get in a fight with the so called trusted third parties and they could unintentionally lose the papers anyway.

[1715129506]

1715129506

[1715129506]

1715129506

[inBitweTrust]

The idea of needing several pieces of paper (which you will have spread across the homes of different trusted persons like parents/brothers) is pretty stressing... you never know what would happen, you could still get in a fight with the so called trusted third parties and they could unintentionally lose the papers anyway.

Valid concern. With SSSS or multisig they have no power to steal the funds and only make your backup slightly more insecure if you also make a mistake and lose your backup as well. You could always store one of the shards in a security deposit box or test tube in offsite location if you can't trust anyone as well.

[inBitweTrust]

http://www.coindesk.com/case-bitcoin-wallet-pre-order/

Only 1,000 Case wallets will be available for  pre-order for $199 or roughly 0.83 BTC .

[BitUsher]

http://www.coindesk.com/case-bitcoin-wallet-pre-order/

Only 1,000 Case wallets will be available for  pre-order for $199 or roughly 0.83 BTC .

What are the benefits of this wallet over the other ones?

[inBitweTrust]

What are the benefits of this wallet over the other ones?

Combines multisig where Case holds one of the keys as a backup for you but cannot steal your funds and includes fingerprint biometrics and uses its own GSM signal to communicate with the blockchain so you can make payments without internet.

http://www.choosecase.com/faq.html

Case connects to 183 mobile carriers in 109 countries: Afghanistan, Albania, Algeria, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bangladesh, Barbados, Belgium, Bermuda, Brazil, British Virgin Islands, Bulgaria, Canada, Cayman Islands, Chad, Chile, China, Colombia, Cote de Ivoire, Croatia, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, DR Congo, Ecuador, Egypt, El Salvador, Estonia, Faeroe Islands, Finland, France, Germany, Ghana, Greece, Grenada, Guatemala, Guyana, Haiti, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Kazakstan, Laos, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Martinique, Mexico, Montserrat, Namibia, Netherlands, Netherlands Antilles, New Zealand, Nicaragua, Nigeria, Norway, Pakistan, Panama, Peru, Poland, Portugal, Republic of Korea, Romania, Russian Federation, Rwanda, Saint Kitts and Nevis, Saudi Arabia, Singapore, Slovakia, Slovenia, South Africa, Spain, St. Lucia, St. Vincent and the Grenadines, Suriname, Sweden, Switzerland, Tanzania, Thailand, Trinidad and Tobago, Turkey, Turks and Caicos Islands, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela.

Warning - Do not use this hardware for money laundering or illegal activities as they are a US company that does store some data on their users. It is likely they will comply with investigators.

How is my fingerprint data stored?

We do not store direct images of your fingerprints on our servers. We store a geometric template of the relative locations of unique elements of your fingerprint and this template is used to validate the fingerprint scan.

Biometrics are convenient which creates a security benefit because you will use a sufficient amount of entropy on your password... but also have severe disadvantages because you end up leaving all your passwords everywhere in public and cannot change it if it gets compromised.

[BitUsher]

Warning - Do not use this hardware for money laundering , tax avoidance or illegal activities as they are a US company that does store some data on their users. It is likely they will comply with investigators.

How is my fingerprint data stored?

We do not store direct images of your fingerprints on our servers. We store a geometric template of the relative locations of unique elements of your fingerprint and this template is used to validate the fingerprint scan.

Still looks like a neat device, but thanks for the warning. My larger concern is the security of it using biometrics... I tend to leave my fingerprints everywhere!

[inBitweTrust]

https://www.youtube.com/watch?v=Zw6kWtehqEQ

What is Case Wallet? An interview with Melanie Shapiro

[aeno19]

For securing my wallet,
personally I will choose a paper wallet,

because paper wallet cannot be hacked or cracked,

its depends to ourselves to secure it,

but, if the paper lost,
you lost all of it... 

[98problems]

For securing my wallet,
personally I will choose a paper wallet,

because paper wallet cannot be hacked or cracked,

its depends to ourselves to secure it,

but, if the paper lost,
you lost all of it... 

well yeah its a good thing if you have no bad friends who can just take it if they find it by accident

[inBitweTrust]

http://www.eliptibox.com

added to hardware wallets

[MUFC]

For securing my wallet,
personally I will choose a paper wallet,

because paper wallet cannot be hacked or cracked,

its depends to ourselves to secure it,

but, if the paper lost,
you lost all of it... 

Not entirely true, especially if you don't know what you're doing and create it on a compromised computer or website. You can also lose or damage or it gets accidentally destroyed. And this is why I prefer the following option. Create a wallet with a client that can be restored from a seed that you write down. Then write your private keys down safely. Then back-up your wallets safely on external mediums like usb drives or a cd-r. This way you're three times protected. Lose your wallet or it becomes corrupted? Then you've got the private keys written down. Lose the private keys? Then you can restore from seed. Don't ever just rely on one back-up or way of backing up because so many things can go wrong.

[inBitweTrust]

updated the HW1 info

Ledger is proud to announce the immediate availability of a low cost version of its Ledger Nano hardware wallet: the Ledger HW1. It is fully compatible and interchangeable with the Ledger Nano, but with a cheaper (and less elegant) plastic form factor.

Cost is 15 EUR, including free worldwide shipping.
(+ VAT for European countries)

https://www.ledgerwallet.com/shop

When you receive a Ledger HW1, this is what you get:
* the Ledger HW1 USB key, on a plastic form factor
* a security card
* instructions
* a recovery sheet

You will *NOT* get the following:
* the white box packaging
* the metal key engraved with "vires in numeris" and Ledger logo
* the leather pouch of the security card
* the lanyard and rings for the key

The key form factor is the main difference between the two products. It is very strong and reliable, but it definitely looks "cheaper" than the Ledger Nano metal counterpart. Also, you'll get the HW1 brand, the plastic key doesn't have any mention of the Ledger brand.

Image gallery: http://imgur.com/a/pa2r0

[BTC_Superman]

Paper Wallet or physical coins.

[arielf]

i choice Offline computer or device..is more save for wallet

[crazy-pilot]

Surprising result, I would have thought hardware wallets would be one top of the list, it my preference. I love how some wallets are now integrating Trezor, and I'm able to connect it to my phone, it was the only downside for me using the Trezor, no phone support.

[dollarneed]

Iam going with offline computer or device
An offline wallet, as we known as cold storage, provides the highest level of security for savings.
And of course It involves storing a wallet in a secured place that is not connected to the network.
And when you do that properly, it can offer a very good protection against computer vulnerabilities.
For me using an offline wallet in conjunction with backups and encryption is also a good step and choice

[faridkifly]

I think next month I'll use cold storage because is saver than the other
But I'm confused to choose between offline wallet or paper wallet 

[crazy-pilot]

Well I have so many raspberries with LCD screens laying around, would be fun to make some offline wallets. Got some awesome casings that are not used atm.

Posted From bitcointalk.org Android App

[BitUsher]

https://www.youtube.com/watch?v=Dedk_840tts

What's up next for hardware wallets?
Thomas France & Eric Larcheveque, Ledger Wallet

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https://www.youtube.com/watch?v=Wnxi5QksVoo

Keep Key Review - Bitcoin Hardware Wallet

Use of brain wallets discouraged because of anthropic limitations in creating sufficient entropy. https://brainwallet.org permanently shutdown to discourage its use. http://insecurety.net/?p=866
https://rya.nc/cracking_cryptocurrency_brainwallets.pdf
https://github.com/ryancdotorg/brainflayer

[Yoshi24517]

you could also use 2FA for securing you're wallet (however, that could not be as secure as the other types...)