safest bitcoin wallet?

Moderator: kyletorpey

safest bitcoin wallet?

by chetan » Thu Apr 17, 2014 1:43 pm

What is the safest bitcoin wallet?
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Joined: Thu Apr 17, 2014 5:24 am

Re: safest bitcoin wallet?

by kyletorpey » Thu May 22, 2014 3:37 am

Although many people are trying to push for mainstream Bitcoin adoption, the reality is that most wallets are not that secure right now. Hardware wallets are really needed in a hurry to make sure that people don't continue to get their bitcoins stolen on a regular basis. If you're going to use an online wallet, then you need to make sure that you don't put all of your eggs in one basket. In other words, it's a good idea to keep the majority of your bitcoin holdings offline. If you do use some kind of online wallet for payments, then you definitely need to make sure that two-factor authentication is enabled. This means that it will take more than one device to login to your account. At this point in time, the most secure wallet might be the wallet due to the fact that they only store an encrypted form of the private keys related to your account. This means that they couldn't steal your bitcoins from you if they wanted to. Xapo is another interesting new wallet where you can place your bitcoins in a form of insured cold storage. The downside is that the cold storage comes with an extra cost.
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