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RE: Lessons from the TREZOR Hack
I've never been a fan of beefed up paper wallets like this. It's pseudo-security, just makes you feel good without actually being worth much.
I've never been a fan of beefed up paper wallets like this. It's pseudo-security, just makes you feel good without actually being worth much.
I see, and so ledger maybe is the better option yet?
Highly dependent on your use case. Having your private key on any kind of paper wallet becomes absolutely useless if you type it into an online system. If you're purely using it for cold storage and only plan on ever withdrawing form it one time, then paper wallet's are okay as long as the keys are generated offline and stored securely.
If you want to use your wallet, then something like the Ledger Nano S is very convenient since it is easy to use and very secure. The drawback is that it's pricey and you should be keeping additional backups (which also need to be secured) in the case that it breaks.
that's the idea, I just withdraw one time, keys generated off line and also when import to the wallet that I want I put the key off line before turns on the wifi and everything in a Macbook, never windows. ;-)
Then your security is 100% dependent on where you store your paper wallet. In my opinion, I think it's a better idea to split the key into separate, redundant locations. For example:
An encrypted form of the private key (memorized password) stored on cloud service. Doesn't matter if they see it because it's encrypted and I only know the password. The password is simple enough to remember, but not used anywhere else (or any similar password). This is what's called a "one time pad" and it's provably uncrackable.
Split the private key in half, storing one half in a safety deposit box (or other off-site secure location) and one half locally. Also, keep copies of both halves in other secure locations that you can check regularly to make sure they are okay. This allows for you to be robbed and not lose your whole key, and you have backups so you can recreate the full key.
wowoow tks a lot mate!!! will send some SBD later because your time spent explaining this to me!! :) really appreciated