Best Options For Securing DASH?

Sage

New Member
May 29, 2017
2
0
1
39
Hey all,

What are the current options & methods for securing DASH?

Hardware wallets?
Paper wallets?
Cold storage?

....How's it done?

Thanks
 

fernando

Powered by Dash
Dash Core Team
Moderator
Foundation Member
May 9, 2014
1,527
2,058
283
Best method is a hardware wallet. You can choose between Trezor, Keekey or Ledger, all of them are great.

They all come with some simple instructions, but the process is usually something like:
-Go to a given website
-Plug the hardware wallet to the computer
-Write down your recovery phrase (the most important step!)
-Setup a PIN number

Each time you use it you will need to plug it to the computer, but it won't matter if it is infested with all kind of crap because you need to confirm on the wallet the transactions and if you see a different address (common attack), you won't confirm.

If something happened to your wallet, recovery is trivial into another wallet with the passphrase. Obviously, if someone steals it and has your PIN, you're in trouble.
 

Sage

New Member
May 29, 2017
2
0
1
39
Okay, hardware wallet is on the way. Until then, is there a guide somewhere for how to secure DASH into cold storage?
 

tungfa

Administrator
Dash Core Team
Moderator
Foundation Member
Masternode Owner/Operator
Apr 9, 2014
8,891
6,718
1,283
TREZOR = 100%
 

digitaldude

New Member
May 30, 2017
8
0
1
53
Hey all,

What are the current options & methods for securing DASH?

Hardware wallets?
Paper wallets?
Cold storage?

....How's it done?

Thanks
Paper wallet is the "best" since they are free. Hardware wallets have an upfront cost. Google "dash paper wallet"
 
Last edited:

GrandMasterDash

Well-known Member
Masternode Owner/Operator
Jul 12, 2015
2,734
973
183
There is no "best way" to secure cryptocurrency, it has to be customised to each individual person.

Paper wallets have advantages, but care needs to be taken because you'd be surprised how quickly some inks / papers deteriorate (especially the cheap no-brand inks). Having said that, in my view, "paper wallet" does not simply mean a computer printout, it can actually cover anything visual, including steganography (concealment of information within images, paintings, files etc).

Whether it's paper, hardware or cryptosteel, they all come with advantages and disadvantages. You need to do some research on concealment and you have to test recovery. Depending on your location / risk level, you may want to a keep a trezor as a decoy.and you might want to play out various disaster scenarios such as police raids or kidnappings.
 

digitaldude

New Member
May 30, 2017
8
0
1
53
There is no "best way" to secure cryptocurrency, it has to be customised to each individual person.

Paper wallets have advantages, but care needs to be taken because you'd be surprised how quickly some inks / papers deteriorate (especially the cheap no-brand inks). Having said that, in my view, "paper wallet" does not simply mean a computer printout, it can actually cover anything visual, including steganography (concealment of information within images, paintings, files etc).

Whether it's paper, hardware or cryptosteel, they all come with advantages and disadvantages. You need to do some research on concealment and you have to test recovery. Depending on your location / risk level, you may want to a keep a trezor as a decoy.and you might want to play out various disaster scenarios such as police raids or kidnappings.
by "paper" i dont mean physical paper.. i mean print output to a pdf file
 

fernando

Powered by Dash
Dash Core Team
Moderator
Foundation Member
May 9, 2014
1,527
2,058
283
Paper wallet is the "best" since they are free. Hardware wallets have an upfront cost. Google "dash paper wallet"
Being free doesn't make something best! Paper wallets can be tricky and I would never recommend them for novice users. Hardware wallets are almost free when you compare with the cost of coin accidents. And coin accidents happen, even if you know what you are doing. We've all suffered them and there is no shame in admitting that.

Security has a price. Pay it. Or learn the hard way and pay later.

There is no "best way" to secure cryptocurrency, it has to be customised to each individual person.
Fully agree, but the fact that the OP is asking this question makes me think he is not very experienced and for that characterization I would still recommend hardware wallet.

by "paper" i dont mean physical paper.. i mean print output to a pdf file
As @camosoul says above (or whoever has taken control of his account, I was expending a full rant over this :)), if you store your paper wallet in a computer you are defeating the purpose. Paper wallets can be great to protect you from hackers, but if you store them in the computer you get the worst of both worlds (inconvenience of paper + risks of computer).
 

digitaldude

New Member
May 30, 2017
8
0
1
53
Being free doesn't make something best! Paper wallets can be tricky and I would never recommend them for novice users. Hardware wallets are almost free when you compare with the cost of coin accidents. And coin accidents happen, even if you know what you are doing. We've all suffered them and there is no shame in admitting that.

Security has a price. Pay it. Or learn the hard way and pay later.


Fully agree, but the fact that the OP is asking this question makes me think he is not very experienced and for that characterization I would still recommend hardware wallet.


As @camosoul says above (or whoever has taken control of his account, I was expending a full rant over this :)), if you store your paper wallet in a computer you are defeating the purpose. Paper wallets can be great to protect you from hackers, but if you store them in the computer you get the worst of both worlds (inconvenience of paper + risks of computer).
dont store it on your computer, store it on a few usb sticks (get one that looks just like a ledger so it reminds you what its for)
 

GrandMasterDash

Well-known Member
Masternode Owner/Operator
Jul 12, 2015
2,734
973
183
dont store it on your computer, store it on a few usb sticks (get one that looks just like a ledger so it reminds you what its for)
The average usb stick has very poor reliability. If you buy two of the same model at the same time, it's likely they will both fail at the same time.
 

digitaldude

New Member
May 30, 2017
8
0
1
53
The average usb stick has very poor reliability. If you buy two of the same model at the same time, it's likely they will both fail at the same time.
good point, thats why its good to have backups, i even go as far as encrypting the pdf file and storing it in multiple locations
 

fernando

Powered by Dash
Dash Core Team
Moderator
Foundation Member
May 9, 2014
1,527
2,058
283
good point, thats why its good to have backups, i even go as far as encrypting the pdf file and storing it in multiple locations
Seriously, if you are gonna store your paper wallet in a pdf in a computer, you'd be better served with a normal wallet. You can also encrypt and backup as much as you want, but it is also usable.

Anyway, your coins, you can do with them whatever you want!
 

digitaldude

New Member
May 30, 2017
8
0
1
53
Seriously, if you are gonna store your paper wallet in a pdf in a computer, you'd be better served with a normal wallet. You can also encrypt and backup as much as you want, but it is also usable.

Anyway, your coins, you can do with them whatever you want!
i never said to store them on a computer, i said store them on usb stick (as in a removable storage device)
 

block

New Member
Mar 23, 2017
6
1
3
33
As a newbie I would discourage another newbie from using a paper wallet unless they are technologically capable. I have dash and bitcoin paper wallets and had quite a challenging time sweeping the dash paper wallet.

It was easily to sweep bitcoin from paper to my mobile wallet, but I had to download the desktop electrum wallet to sweep dash. I had to manually type in the keys and it took a few scary tries...
 
  • Like
Reactions: fernando

fernando

Powered by Dash
Dash Core Team
Moderator
Foundation Member
May 9, 2014
1,527
2,058
283
i never said to store them on a computer, i said store them on usb stick (as in a removable storage device)
But you need to connect that stick to a computer. It is better than having it in the hard disk of an internet connected computer, but the minute you go digital, the risks change. Even printing has its risks because your wallet gets copied to the printer memory and usually it stays there for a very long time.
 

digitaldude

New Member
May 30, 2017
8
0
1
53
But you need to connect that stick to a computer. It is better than having it in the hard disk of an internet connected computer, but the minute you go digital, the risks change. Even printing has its risks because your wallet gets copied to the printer memory and usually it stays there for a very long time.
There is a misconception with paper wallets that they have to be "printed" but the fact is they can be saved to a file in which case they never get to printer memory. Furthermore only the private key needs to be saved. The address and funds in the wallet can be restored with just the key alone. Paper wallets are 100% secure for storing digital currency offline... try it yourself: https://paper.dash.org/
 
Last edited: