Using something like Electrum with BIP39 is super easy. Just remember your 12 seed words, and boom, you can access your wallet anywhere. But honestly, I just trust Bitcoin Core more. Feels way more solid than those other wallets, which seem like toys. Coin control features are nice too. I have 2 Bitcoin Core wallets.
How do you keep your Bitcoin Core wallet secure?
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If you're sticking with Bitcoin Core, think about backin' up on offline devices and maybe even a cloud backup, just encrypt your wallet file with a strong password. Still, could be risky, right?
Why not run Bitcoin Core as a node and pair it with Electrum for your wallet? That way, you keep the privacy and coin control, plus you can recover your wallet with those fancy seeds. Seems smarter.
My backups are encrypted files, always strong passwords. I regularly back it all up, including new labels. Old backups stay put, just in case. If I'm traveling, I bring a disposable laptop loaded with layers of encryption.
Remembering 12 seed words? Nah, that won't fly. Instead, back up your master private key. It's tricky, but you can use descriptors with Bitcoin Core. You just need to recompute checksums.
Sure, you can do the whole BIP39 thing. But it's complicated requires an Air-Gap machine or similar. Creating a mnemonic and deriving the Master Private Key isn't as simple as it seems.
Traveling with your wallet? Be careful. There are reports of folks being forced to decrypt at customs. You could lose everything if someone knows what you’ve got.
Still better than relying on cloud storage, tho. I mean, trust them with your data? with security, I'd rather risk customs checks than the cloud.
Encryption is key. If you don’t trust it, don’t store your private keys online! And I haven’t found a Tor-friendly option better than Protonmail.
Using BIP39? Many devs aren’t onboard. Check GitHub for updates if you’re interested. Just be cautious not to mess up your Master Private Key generation.
You’re right, wrong keys lead to disaster. Backing up with 128+ character passwords seems tough, but if that gets compromised, we have bigger problems.
How do you remember that long password? That’s a hassle!
You can stash passwords without context. Just a bunch of random ones. If someone finds your password manager, it's useless without the wallet file.
Imagine losing your local copy and passwords. Now you only have random encrypted files in the cloud. Do you even remember your cloud access? Sounds risky.
Good point. If you want a BIP39 seed with Bitcoin Core, import the master private key. That way, you can forget your wallet file password as long as you keep the seed backup safe.
node_walletMember
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#16Aug 11, 2024, 12:46 PM
Where are you gonna put that backup? Writing it down? Does Bitcoin Core let you import descriptors easily?
Yeah, I have an Electrum wallet with a 12-word seed. For backup, I stick my wallet.dat on a few flash drives. I even modified the seed for extra protection.
Running it on a Mac Mini with an external SSD is also solid. These setups are pretty secure and small.
Multiple backups help. But what if disaster strikes and wipes everything? A vault for storage might be a good plan.
Seriously, a secure storage vault sounds smart. Way better than trusting friends or family, right?