⭐ Merited by ABCbits (1)
I'm very new to BTC and I'm having some problems to understand why colds wallets are so important to users
In a big company that handles a lot of BTC I could understand, but for me I can't even think in a good reason to use it.
I use a blockchain account just because I started there and don't want to get rid off it yet and this account have little to none BTC, most of my BTCs are in my phone wallet (Bread for iOS)
Could my phone be considered a cold wallet? Because it connects directly to the BTC network and (as far as I can tell) doesn't communicates with anything else (its a sandbox app that has no http privileges).
And whats the point of sending your money to a paper wallet if anyone can still see the address and try to steal it? Isn't vanitygen capable of that? (takes time i know, but in statistic "if it can happen, probably it will someday")
From what I see the only capable way of stealing a wallet is to get the private key, but why do people talk about cold storages like the money is actually sent? like fisically
1. You cant "remove them from the network"
2. If the wallet is provided by blockchain, what exporting could protect? they already have the key, they are only a target to hackers to get the key
And besides why do people assume that the cold wallet is safe? Just because you don't move the funds doesn't mean they are not there.
Can someone explain this to me? I feel like cold wallets for users are just "If you don't move they cant see you"
In a big company that handles a lot of BTC I could understand, but for me I can't even think in a good reason to use it.
I use a blockchain account just because I started there and don't want to get rid off it yet and this account have little to none BTC, most of my BTCs are in my phone wallet (Bread for iOS)
Could my phone be considered a cold wallet? Because it connects directly to the BTC network and (as far as I can tell) doesn't communicates with anything else (its a sandbox app that has no http privileges).
And whats the point of sending your money to a paper wallet if anyone can still see the address and try to steal it? Isn't vanitygen capable of that? (takes time i know, but in statistic "if it can happen, probably it will someday")
From what I see the only capable way of stealing a wallet is to get the private key, but why do people talk about cold storages like the money is actually sent? like fisically
Quote
source http://blog.bit2me.com/en/protect-bitcoin-wallet/
4) Create paper wallets
The only way to keep your bitcoins away from the claws of hackers is removing them from the network.
Although this entails the usual risks of any physical object, it is a safe, simple and a free way to protect your bitcoin.
If your wallet is provided by Blockchain.info you have the option to print it by clicking the appropriate option in the Import / Export section.
If not, you can use bitaddress.org or a more sophisticated platform like bitcoinpaperwallet.com, which allows you to include holograms or order a CD with Ubuntu preinstalled with software to create all the paper wallets you want.
Each line sounds so wrong to me but the most important are4) Create paper wallets
The only way to keep your bitcoins away from the claws of hackers is removing them from the network.
Although this entails the usual risks of any physical object, it is a safe, simple and a free way to protect your bitcoin.
If your wallet is provided by Blockchain.info you have the option to print it by clicking the appropriate option in the Import / Export section.
If not, you can use bitaddress.org or a more sophisticated platform like bitcoinpaperwallet.com, which allows you to include holograms or order a CD with Ubuntu preinstalled with software to create all the paper wallets you want.
1. You cant "remove them from the network"
2. If the wallet is provided by blockchain, what exporting could protect? they already have the key, they are only a target to hackers to get the key
And besides why do people assume that the cold wallet is safe? Just because you don't move the funds doesn't mean they are not there.
Can someone explain this to me? I feel like cold wallets for users are just "If you don't move they cant see you"