Post
Topic
Board Electrum
Re: How do you protect your wallet and backup file?
by
goldsun
on 25/11/2014, 20:01:45 UTC
I was thinking more of protecting my self from a malware och keylogger. Thats why I wanted to encrypt my wallet file, and the whole folder where my wallet is stored.

If your wallet is protected by a password that you type in, than a keylogger can grab it -- there's no way to protect against this. If you're worried about malware and keyloggers, you should be looking at solutions that aren't simply password-based, e.g.:

1. Web-based multisig wallets with two factor authentication, e.g. Greenaddress.it or BitGo.com.
2. Desktop-based multisig wallets, e.g. Armory or mSIGNA (and another trusted individual running the same).
3. Cold storage solutions, e.g. Electrum or Armory.
4. Hardware wallets, e.g. Trezor or Ledger (a.k.a. HW.1).

(Of course, each of these also has its downsides.)

And just in case, is it worth to save the private keys somewhere, when using electrum? Or is just the seed enough.. because every page about how to save your wallet is mentioning that one should save the private keys.

The seed is enough.

So the seed is enough, just if I use electrum? Not with other wallets right, because not all have the option of seed? Should it then be good to save the private keys or just the wallet file?

I am using Electrum as a cold storage solution. But my wallet, is in a folder. And inside the folder, is the wallet file. Isn't electrum password based? Because you need to type a password when you want to transfer bitcoins to another address.

I want to password protect, or encrypt the whole folder, so before I access the folder, I will have to type a password or even two. That would make the security level go up a bit.