Electrum bitcoin wallet reddit
A hardware wallet is a special type of bitcoin wallet which stores the user's private keys in a secure hardware device. This page is an attempt to summarize all the known developments of hardware wallets that can use Bitcoin as part of their operation.
To date there have been no verifiable incidents of Bitcoins stolen from hardware wallets. Hardware wallets are relatively new, but at least for the time being they have maintained a good track record, unlike the numerous incidents of Bitcoin theft from Internet-connected computers.
However, it's important to understand that hardware wallets are a high value target and depend on various assumptions holding true to maintain security. They are not a silver bullet, and there are several realistic ways in which a hardware wallet can fail to protect your Bitcoin. These risks need to be carefully considered when deciding how much trust to place in a hardware wallet, and which hardware wallet to buy. By default, most hardware wallets instruct the user to connect to the manufacturer's own web interface.
The web page cannot steal the user's private keys but can spy on them or trick them into accept fake payments. Hardware wallets only keep the private keys safe and create spending transactions; they cannot tell you if you have actually received coins and in what quantity. Bitcoin's security model also requires that full node wallets are used. If not, somebody could pay you with a transaction of something other than bitcoin. If bitcoin is digital gold then a full node wallet is your own personal goldsmith who checks that the incoming payments are actually real.
Also the third-party wallet will see all your bitcoin addresses so this is very damaging to your privacy. Most hardware wallets can be connected to Electrum bitcoin wallet. Electrum can be connected to your own full node via a server. Full node Why should you use a full node wallet.
The Pi-Wallet is a small computer with the Armory bitcoin client. Transactions are signed offline, then transferred on a USB stick via Sneakernet to an online system for broadcasting. The private keys are generated by the device and never leave it thus they cannot be accessed by a malware. A recovery seed is generated when the device is initialized.
An encryption passphrase can be set on top of the PIN protection. More passphrases can be used for plausible deniability. It is typically used as a blind secure device for multi signature transactions - holding a set of derived private keys and signing transactions without requiring user confirmation. Power users can rely on it to confirm all transactions with a second factor scheme turning the dongle into a keyboard typing what the user is supposed to have signed, as a protection against malware.
It is also possible to customize HW. Ledger Nano protects your Bitcoin data within a smartcard. Its micro-processor certified against all types of attacks both physical and logicaland has been used in the banking industry for decades think credit card chips.
The device connects to your computer through the USB port and will do all the Bitcoin cryptographic heavy lifting such as signing transactions inside its secure environment. You can therefore use your Bitcoin account with maximum trust, even on an insecure or compromised computer.
The second factor verification of the transaction signature can be done either with a paired smartphone Android, iOS or a physical security card. The Ledger Wallet Chrome application available also on Chromium provides an easy onboarding as well as a seamless user experience, and the Nano is compatible with numerous third party software: Ledger Nano product page Source and specifications. The device can be used with Mycelium or Greenbits. In case of loss, you can restore it on any Ledger Wallet Nano or another one or all other compatible solutions BIP Ledger Unplugged product page Source code.
Trezor code is open source and this device operates like a Trezor. KeepKey is a USB device that stores and secures your bitcoins.
When you entrust KeepKey with your money, each and every bitcoin transaction you make must be reviewed and approved via it's OLED display and confirmation button. KeepKey has a unique recovery feature utilizing a rotating cipher to restore private keys with a BIP recovery seed. This means it is not necessary to store your private keys on KeepKey: Opendime is a small USB stick that allows you to spend Bitcoin like a dollar bill.
Pass it along multiple times. Connect to any USB to check balance. Unseal anytime to spend online. It comes in the shape of a mini USB, and setting it up is astonishingly quick and simple. In its folder, is a web page. Once you do that, the OpenDime automagically generates a unique address for you to receive Bitcoin with. CoolWallet is a credit card sized Bluetooth device that stores and secures your bitcoins and private keys.
It fits in your wallet and works wirelessly. Every Bitcoin transaction must be manually confirmed and approved through its e-paper display and button. CoolWallet only acknowledges the paired smartphone.
Whoever stole the CoolWallet are not able to steal any bitcoins. Using recovery Seed can restore all your bitcoins in case you lost the device. The BlochsTech open Bitcoin card is an open protocol secure hardware Bitcoin wallet your grandmother could use.
For shops it's faster to accept than slow QR code based wallets and more reliable as it works offline. Currently it's of course in a novelty phase like Casascius coins of which thousands were soldhowever in the long run it is fully capable of functionally replacing the VISA system in all nations.
BitLox is a metal cased aluminum or titanium bitcoin hardware wallet that works with their own web based wallet by USB and apps for iPhone and Android using Bluetooth LE. At present it is the only bitcoin hardware wallet you can buy that works with iPhone.
The device weighs one ounce and is the size of a credit card 4 mm thick. Bitlox allows you to set up hidden wallets. Unlike other hardware wallets your seed is never displayed on a connected computer or phone but only on the Bitlox. BitLox has also implemented several advanced security features not available on any other bitcoin hardware wallet.
Ledger Nano S is a secure Bitcoin hardware wallet. It connects to any computer through USB and embeds a built-in OLED display to double-check and confirm each transaction with a single tap on its buttons. Ledger Nano S product page. Each Bitcoin wallet can have up to 5 Receive addresses. The intuitive user interface is designed for ease of use. USB security key is required to make any type of transaction. So in case of an accident, customer will have an additional backup to access their wallets.
The device currently have Bitcoin and Ethereum wallets. More upgrades coming to include other altcoin wallets e. Excellent review by evoorhees.
Incorporates a e-paper display, keypad, and radio custom ISM band protocol. Evolved out of someone42's prototype below, and has significant contributions from someone42 as well. Hardware Bitcoin wallet - a minimal Bitcoin wallet for embedded devices. All work is rolled into the above BitSafe wallet currently. This type of device requires complete trust in the host device, as there is no method for user input.
See Smart card wallet. They have major advantages over standard software wallets: Retrieved from " https: Navigation menu Personal tools Create account Log in. Views Read View source View history. Sister projects Essays Source. This page was last edited on 25 Mayat Content is available under Creative Commons Attribution 3. Privacy policy About Bitcoin Wiki Disclaimers.