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    Author Topic: How to secure my wallet ?  (Read 924 times)

    • BitCoinDream (OP)
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    December 22, 2013, 07:34:08 PM
     #1
    I have a wallet on blockchain.info and another on my machine using bitcoinQT. For both I have the latest print out. Now if...

    1. Somehow I cant log into blockchain.info, then will I be able to use my coins using my paper wallet ?

    2. Somehow the data file of my bitcoinQT gets corrupt, then will I be able to use my coins using my paper wallet ?

  • allgoodthings1
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    December 22, 2013, 08:12:28 PM
     #2
    CoinDream, a paper wallet is not a backup. It doesn't duplicate (make a copy) of the keys in your online (blockchain) or software (QT) wallet. The paper wallet is created by actually transferring the keys (critical information) from the online or sofware wallet onto printed paper. What value you transfer to a paper wallet is no longer on your other wallet(s), until such time as you would transfer it back.

    So you can safeguard your holdings by transferring them from other wallets to a paper wallet; but then, they will be unavailable for you to use in your other wallets till you transfer them back. The paper wallet kind sets them aside for safe keeping in a vault or very secure location. If you lose or damage funds stored on a paper wallet, they're lost forever.

    Unless you have a substantial amount of btc, you may want to simply backup your QT wallet. Those instructions are readily available. A backup of your QT wallet is a copy, like any other backup file. It's just an emergency saviour if anything happens to your QT wallet. You can just import the backup file into your program, allow it to sync, and you're good as new.

    You cannot backup your blockchain wallet. Online wallets are left totally to the protection of your provider. That's generally a good reason to store most of your value in your software wallet (backed up) or paper wallet.
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  • BitCoinDream (OP)
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    December 22, 2013, 08:34:27 PM
     #3
    @allgoodthings1 Thank u so much for the explanation. From this what I understand, software wallet backup is the best option. But recently I have heard of a virus that, if gets installed to your machine, will transfer your bitcoins to some other address. Then, I guess, my data backup wont be of any use. On the other hand, most our current anti-viruses are not updated with Bitcoin virus definition. So, it remains risky to have Bitcoins in own machine !!!

    On another instance I saw in a thread that one person did 2-factor authentication blockchain.info wallet. Now the wallet is not opening with 2-factor authentication !!! So, the person is able to see his coins, but unable to use !!!

  • oktay50000
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    December 22, 2013, 11:01:36 PM
     #4
    backup ur wallet on flash drive so u can export it to blockchain
    or from blockchain to wallet
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  • bluemyst
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    December 23, 2013, 12:11:19 AM
     #5
    I recommend  for you to back up wallet at several places,

    but the key is a strong password that you never forget. Unfortunately I forgot the passphrase of my namecoin wallet and now it is useless;(

  • Inboxia
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    December 23, 2013, 06:55:33 AM
     #6
    Make an offline wallet, store it in a netbook, flashdrive, old HDD, never connect it to internet, also make sure to back it up.

  • baroncelli022
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    December 23, 2013, 07:17:53 AM
     #7
    I would suggest: copy the wallet.bat to 2 usb keys, delete the original on your pc, encrypt both usb keys. Then store the pw on paper or on another usb key with other passwords say.

  • SilverandBitcoins
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    December 23, 2013, 12:37:19 PM
     #8
    Quote from: oktay50000 on December 22, 2013, 11:01:36 PM
    backup ur wallet on flash drive so u can export it to blockchain
    or from blockchain to wallet
    When you say back up your wallet, do you mean to just copy the .dat file?
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  • infinitybo
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    December 23, 2013, 12:50:18 PM
     #9
    First of all @OP you have to do a backup then try to recover your password if you can't login to your wallet account.

  • BitCoinDream (OP)
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    December 24, 2013, 09:19:32 AM
     #10
    If u try to xplain these security aspects to a non-coder, he'll say "My leather wallet is the best"  Tongue

  • btcmonster
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    December 24, 2013, 10:28:15 AM
     #11
    u need a backup on a usb drive Smiley

  • Dithery
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    February 15, 2018, 01:32:52 PM
     #12
    How to create a 100% secure wallet today ?

  • siddu67
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    February 15, 2018, 03:01:37 PM
     #13
    The only way to secure your wallet is to give a strong password.The password should carried different characters,capital letter,small letter,different types of sign etc.If you make a password through the above hints then I am quite sure that your wallet will be secured.
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  • ayamboy
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    February 15, 2018, 03:18:49 PM
     #14
    Quote from: BitCoinDream on December 22, 2013, 07:34:08 PM
    I have a wallet on blockchain.info and another on my machine using bitcoinQT. For both I have the latest print out. Now if...

    1. Somehow I cant log into blockchain.info, then will I be able to use my coins using my paper wallet ?

    2. Somehow the data file of my bitcoinQT gets corrupt, then will I be able to use my coins using my paper wallet ?
    yes i have no idea about this question .so i want to know how to secure my wallet and anyone don,t hack my wallet ..please tell me about it.

  • NeverSop
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    February 15, 2018, 03:51:08 PM
     #15
    There are many ways you can store your bitcoin. I usually divide the number of bitcoins I have into sections to keep depending on my purpose. When I trade, I have to trade bits and pieces on commercial sites, and I also use online wallets like coinbase and blockchain to store bitcoins. I also keep bitcoin on hard wallets like Trezos and Nano S to secure the property that I have. Remember to keep your private key confidential so that it is not stolen.
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  • shanksluffy
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    February 15, 2018, 03:54:01 PM
     #16
    Quote from: BitCoinDream on December 22, 2013, 07:34:08 PM
    I have a wallet on blockchain.info and another on my machine using bitcoinQT. For both I have the latest print out. Now if...

    1. Somehow I cant log into blockchain.info, then will I be able to use my coins using my paper wallet ?

    2. Somehow the data file of my bitcoinQT gets corrupt, then will I be able to use my coins using my paper wallet ?
    Save your password or key in the secure account like on gmail and other mail. Do not share your password make it private to avoid theft or lost of money or token. You have just put a recovery account or your number on cellphone .

  • bug.lady
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    February 15, 2018, 04:04:04 PM
     #17
    Quote from: BitCoinDream on December 22, 2013, 07:34:08 PM
    I have a wallet on blockchain.info and another on my machine using bitcoinQT. For both I have the latest print out. Now if...

    1. Somehow I cant log into blockchain.info, then will I be able to use my coins using my paper wallet ?

    2. Somehow the data file of my bitcoinQT gets corrupt, then will I be able to use my coins using my paper wallet ?

    yes paper wallets will give you access to you coins. But for bitcoin-QT you had better backed-up your wallet.dat file, as there are a number of private keys in it, not only one.

    Also, if you have any considerable amount of your holdings in crypto, buy yourself a hardware wallet and secure your coins once and for all.

    The hardware wallet is secure even if stolen or lost because it is PIN protected and you can recreate your wallet on a new
    device from your 24-word recovery seed. That 24 words is something that must be protected and never disclosed to others.

    Then, after all your funds have been secured, it is OK to keep a fraction of it online (on blockchain.info or others).

    At least, it is what I would do.

  • jon25
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    February 15, 2018, 04:16:55 PM
     #18
    Quote from: BitCoinDream on December 22, 2013, 07:34:08 PM
    I have a wallet on blockchain.info and another on my machine using bitcoinQT. For both I have the latest print out. Now if...

    1. Somehow I cant log into blockchain.info, then will I be able to use my coins using my paper wallet ?

    2. Somehow the data file of my bitcoinQT gets corrupt, then will I be able to use my coins using my paper wallet ?

    Hi can I ask a newbie question also? Which is best option on securing a wallet offline or online? Also how to do it on offline?

  • Chip_Chicken359
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    February 15, 2018, 04:33:25 PM
     #19
    I think you can use hard purses to protect your BTC or any antcoin!
    Cheesy
     

  • nickmax
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    February 15, 2018, 04:34:28 PM
     #20
    Quote from: jon25 on February 15, 2018, 04:16:55 PM
    Quote from: BitCoinDream on December 22, 2013, 07:34:08 PM
    I have a wallet on blockchain.info and another on my machine using bitcoinQT. For both I have the latest print out. Now if...

    1. Somehow I cant log into blockchain.info, then will I be able to use my coins using my paper wallet ?

    2. Somehow the data file of my bitcoinQT gets corrupt, then will I be able to use my coins using my paper wallet ?

    Hi can I ask a newbie question also? Which is best option on securing a wallet offline or online? Also how to do it on offline?

    If you plan to keep cryptocurrency for a long time, then use hardware wallets such as LEDGER NANO S, or install a wallet on an old smartphone, disconnect the Internet, transfer coins to it and turn it off. If you need to make transactions every day, then it's better to use web wallets. For bitcoin - Blockchein Info, for Ethereum and coins on ERC-20 - MyEtherWallet using MetaMask.
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