Securing your wallet - Revision history

Furunodo: backingup

2020-06-17T22:09:43Z

backingup

← Older revision		Revision as of 22:09, 17 June 2020
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	Backing up your wallet is not necessary if you use a wallet with implemented [[BIP 0032]] (hierarchical deterministic wallet). Today, only [[TREZOR]], [[Electrum]] and [[CarbonWallet]] fully support BIP 0032.		Backing up your wallet is not necessary if you use a wallet with implemented [[BIP 0032]] (hierarchical deterministic wallet). Today, only [[TREZOR]], [[Electrum]] and [[CarbonWallet]] fully support BIP 0032.

	For advise on the backup process see [[~~Backingup_your_wallet\|~~Backing up your wallet]].		For advise on the backup process see [[Backing up your wallet]].

	==Erasing Plain-text Wallets==		==Erasing Plain-text Wallets==

Belcher: added redirect to Storing bitcoin

2017-11-11T19:11:40Z

added redirect to Storing bitcoin

← Older revision		Revision as of 19:11, 11 November 2017
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			#REDIRECT [[Storing bitcoins]]

	{{merge\|Ways_to_store_Bitcoins}}		{{merge\|Ways_to_store_Bitcoins}}

Belcher: merge suggestion with Ways_to_store_bitcoins

2017-07-04T18:08:49Z

merge suggestion with Ways_to_store_bitcoins

← Older revision		Revision as of 18:08, 4 July 2017
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			{{merge\|Ways_to_store_Bitcoins}}


	==Introduction==		==Introduction==

Belcher: added multisig wallet section

2017-07-04T01:44:28Z

added multisig wallet section

← Older revision		Revision as of 01:44, 4 July 2017
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	A [[hardware wallet]] typically holds the private keys in its internal storage and is designed to be malware resistant. The device signs the transactions internally and only transmits the signed transactions to the computer. The separation of the private keys from the vulnerable environment allows the user to spend bitcoins on a compromised computer with reduced risk.		A [[hardware wallet]] typically holds the private keys in its internal storage and is designed to be malware resistant. The device signs the transactions internally and only transmits the signed transactions to the computer. The separation of the private keys from the vulnerable environment allows the user to spend bitcoins on a compromised computer with reduced risk.

			==Multisignature wallets==

			A multisignature wallet is one where multiple private keys are required to move the bitcoins instead of a single key. These private keys can be spread across multiple machines with the assumption that malware and hackers are unlikely to simultaneously infect your laptop, desktop and smartphone. The multisig wallet can be of the m-of-n type where any m private keys out of a possible n are required to move the money. For example a 2-of-3 multisig wallet might have your private keys spread across a laptop, smartphone and paper backup; any two of those are required to move the money but the loss of any one does not result in loss of money.

			Multisignature wallets have the advantage of being cheaper than hardware wallets since they are implemented in software and can be downloaded for free, as well as being convenient as all keys are online and the wallet user interfaces are typically good. Wallet software [[Electrum]] and [[Armory]] can create multisig wallets.

			Further reading: [[Multisignature]]

			See also: http://docs.electrum.org/en/latest/multisig.html

	==Hot wallets: minimizing risks==		==Hot wallets: minimizing risks==

Luke-jr: Remove bad advice and excessive promotion

2017-01-23T20:26:25Z

Remove bad advice and excessive promotion

← Older revision		Revision as of 20:26, 23 January 2017
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	==Cold wallets==		==Cold wallets==

	~~Main page: [[How to set up a secure offline savings wallet]]~~

	A cold wallet generates and stores private wallet keys offline on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer. Unsigned transactions are generated online, transferred offline for verification and signing, and the signed transaction is transferred online to be transmitted to the Bitcoin network.		A cold wallet generates and stores private wallet keys offline on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer. Unsigned transactions are generated online, transferred offline for verification and signing, and the signed transaction is transferred online to be transmitted to the Bitcoin network.

	This allows funds to be managed offline in [[Cold storage]]. Used correctly a cold wallet is protected against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead of a special purpose peripheral.		This allows funds to be managed offline in [[Cold storage]]. Used correctly a cold wallet is protected against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead of a special purpose peripheral.

	~~Open source cold wallet solutions include [[BitKey]] for PC and the Bither mobile app.~~

	==Hardware wallets==		==Hardware wallets==
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	A [[hardware wallet]] typically holds the private keys in its internal storage and is designed to be malware resistant. The device signs the transactions internally and only transmits the signed transactions to the computer. The separation of the private keys from the vulnerable environment allows the user to spend bitcoins on a compromised computer with reduced risk.		A [[hardware wallet]] typically holds the private keys in its internal storage and is designed to be malware resistant. The device signs the transactions internally and only transmits the signed transactions to the computer. The separation of the private keys from the vulnerable environment allows the user to spend bitcoins on a compromised computer with reduced risk.

	~~==Brainwallet==~~

	~~Main page: [[Brainwallet]]~~

	A brainwallet refers to the concept of storing Bitcoins in your brain by remembering a secret passphrase or seed from which your wallet keys are derived. Modern brainwallets use salting and expensive key derivation functions to decrease the feasibility of cracking attacks.

	~~==Paper Wallets==~~

	~~Main page: [[Paper wallet]]~~

	[[Paper wallet]]s can be used to store bitcoins offline in non-digital format. Using securely generated paper wallets significantly decreases the chances of your bitcoins being stolen by hackers or computer viruses.
	~~Fundamentally, a paper wallet is merely a physical record of a HD wallet private seed.~~

	==Hot wallets: minimizing risks==		==Hot wallets: minimizing risks==
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	* [[Cold storage]]		* [[Cold storage]]
	* [[Data directory]]		* [[Data directory]]
	* [[How to import private keys]]
	* [http://maxtaco.github.io/bitcoin/2014/01/16/how-jason-bourne-stores-his-bitcoin/ How Jason Bourne stores his Bitcoin]		* [http://maxtaco.github.io/bitcoin/2014/01/16/how-jason-bourne-stores-his-bitcoin/ How Jason Bourne stores his Bitcoin]
	* [http://startbitcoin.com/how-to-create-a-secure-bitcoin-wallet/ Secure Bitcoin Wallet Tutorial]		* [http://startbitcoin.com/how-to-create-a-secure-bitcoin-wallet/ Secure Bitcoin Wallet Tutorial]

Liraz: /* Cold wallets */ corrected typo

2017-01-22T12:15:59Z

Cold wallets: corrected typo

← Older revision		Revision as of 12:15, 22 January 2017
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	Main page: [[How to set up a secure offline savings wallet]]		Main page: [[How to set up a secure offline savings wallet]]

	A cold wallet generates and stores private wallet keys on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer. Unsigned transactions are generated online, ~~transfered~~ offline for verification and signing, and the signed transaction is ~~transfered~~ online to be transmitted to the Bitcoin network.		A cold wallet generates and stores private wallet keys offline on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer. Unsigned transactions are generated online, transferred offline for verification and signing, and the signed transaction is transferred online to be transmitted to the Bitcoin network.

	This allows funds to be managed offline in [[Cold storage]]. Used correctly a cold wallet is protected against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead.		This allows funds to be managed offline in [[Cold storage]]. Used correctly a cold wallet is protected against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead of a special purpose peripheral.

	Open source cold wallet solutions include [[BitKey]] for PC and the Bither mobile app.		Open source cold wallet solutions include [[BitKey]] for PC and the Bither mobile app.

Liraz: /* Cold wallets */ explain workflow of generating and signing transactions offline

2017-01-22T12:13:23Z

Cold wallets: explain workflow of generating and signing transactions offline

← Older revision		Revision as of 12:13, 22 January 2017
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	Main page: [[How to set up a secure offline savings wallet]]		Main page: [[How to set up a secure offline savings wallet]]

	A cold wallet generates and stores private wallet keys on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer. This allows funds to be managed offline in [[Cold storage]]. Used correctly a cold wallet is protected against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead.		A cold wallet generates and stores private wallet keys on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer. Unsigned transactions are generated online, transfered offline for verification and signing, and the signed transaction is transfered online to be transmitted to the Bitcoin network.

			This allows funds to be managed offline in [[Cold storage]]. Used correctly a cold wallet is protected against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead.

	Open source cold wallet solutions include [[BitKey]] for PC and the Bither mobile app.		Open source cold wallet solutions include [[BitKey]] for PC and the Bither mobile app.

Liraz: /* Cold wallets */ minor rewording

2017-01-22T12:10:52Z

Cold wallets: minor rewording

← Older revision		Revision as of 12:10, 22 January 2017
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	Main page: [[How to set up a secure offline savings wallet]]		Main page: [[How to set up a secure offline savings wallet]]

	A cold wallet generates and stores private wallet keys on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer, in [[Cold storage]]. Used correctly ~~this protects~~ against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead.		A cold wallet generates and stores private wallet keys on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer. This allows funds to be managed offline in [[Cold storage]]. Used correctly a cold wallet is protected against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead.

	Open source cold wallet solutions include [[BitKey]] for PC and the Bither mobile app.		Open source cold wallet solutions include [[BitKey]] for PC and the Bither mobile app.

Liraz: /* Hot wallets: minimizing risks */

2017-01-21T01:36:51Z

Hot wallets: minimizing risks

← Older revision		Revision as of 01:36, 21 January 2017
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	==Hot wallets: minimizing risks==		==Hot wallets: minimizing risks==

	An Internet connected computer that stores your Bitcoins is often referred to as a "hot wallet". ~~Hot~~ wallets are unavoidably risky. Modern operating systems are highly complexity, leading to a large attack surface. They also constantly leak information without the user’s knowledge or consent. It is very hard to ensure your wallet is secure on an Internet connected computer.		An Internet connected computer that stores your Bitcoins is often referred to as a "hot wallet". Though there are several things that can be done to lower the threat, hot wallets are unavoidably risky.

			Modern operating systems are highly complexity, leading to a large attack surface. They also constantly leak information without the user’s knowledge or consent. It is very hard to ensure your wallet is secure on an Internet connected computer.

	For low value wallets, the risk may be acceptable but it is recommended not to keep more in a hot wallet than you can afford to lose. For sums beyond that use one of the more secure methods above (e.g.,.		For low value wallets, the risk may be acceptable but it is recommended not to keep more in a hot wallet than you can afford to lose. For sums beyond that use one of the more secure methods above (e.g.,.

Liraz: /* Cold wallets */ expand and clarify

2017-01-21T01:35:29Z

Cold wallets: expand and clarify

← Older revision		Revision as of 01:35, 21 January 2017
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	Main page: [[How to set up a secure offline savings wallet]]		Main page: [[How to set up a secure offline savings wallet]]

	A cold wallet generates and stores private wallet keys on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer, ~~which is safe from all~~ online threats, such as viruses and hackers.		A cold wallet generates and stores private wallet keys on a clean [https://en.wikipedia.org/wiki/Air_gap_(networking) air-gapped] computer, in [[Cold storage]]. Used correctly this protects against online threats, such as viruses and hackers. Cold wallets are similar to hardware wallets, except that a general purpose computing device is used instead.

			Open source cold wallet solutions include [[BitKey]] for PC and the Bither mobile app.

	==Hardware wallets==		==Hardware wallets==