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The Beginner's Guide To Creating A Secure Ethereum Paper Wallet - Trading Heroes

The Beginner's Guide To Creating A Secure Ethereum Paper Wallet - Trading Heroes

Home Cryptocurrency Trading The Beginners Guide to Creating a Secure Ethereum Paper Wallet The Beginners Guide to Creating a Secure Ethereum Paper Wallet Cryptocurrencies are an exciting emerging market and Ethereum has a ton of potential. But these new currencies come with their fair share of risks. In order to keep your Ether safe, an Ethereumpaper wallet can be a good place to store your Ether. But how do you create one, is it safe and what are the risks? In this post, I'll show you why you might want to create a paper wallet. Then I'll give you the exact steps on how to do it securely. I'll also show you how to transfer your Ether in and out your newly minted paper wallet. Remember, no storage method is 100% safe. But if you understand the risks, take the proper precautions and diversify your storage methods, you greatly reduce your chances of losing your investment to the bad guys. Storing your Ether on the exchanges is generally the worst place to store it because the exchanges are susceptible to hacking and the exchanges maintain control of your private keysnot you. Therefore, cold storage is a must for anyone who is serious about keeping their money safe. A paper wallet is one cold storage option. If you are totally new to cryptocurrencies, I'll quickly go over what a paper wallet is. If you know this already, then skip on to the next section. Ethereum is the network or the software and Ether is the cryptocurrency that is used for transactions on the network. That might be a tad simplistic, but that's pretty much all you need to know. A wallet, digital or physical, is simply an address on the Ethereum blockchain. A blockchain is a type of database. You can think of an Ethereum wallet address like a website domain name. It's an address that tells you how to find Continue reading >>

Ethereum Paper Wallet | Beginners Guide

Ethereum Paper Wallet | Beginners Guide

If youve got a significant amount of Ethereum (or any amount for that matter) stored online, I recommend that you transfer it to an offline wallet as soon as you can. Offline wallets, also known as cold wallets, can be as simple as a piece of paper or as complex as a pin protected USB drive . Keeping your Ethereum in a cold wallet keeps it out of the hands of hackers who prey on their victims via the Internet. This security comes at a small cost, though. You still need to transfer your Ethereum to an online wallet or exchange to use it, making your funds less liquid. However, if youre playing the long game and holding for a while, this shouldnt be an issue. In this guide, Im going to walk you through the steps on how to create and use an Ethereum paper wallet from MyEtherWallet (MEW) a trusted recommendation. First, navigate to myetherwallet.com by typing it directly into your address bar. Do not google the website name. Thieves will often buy ad space with a phishing site pretending to be MEW and attempt to steal your coins. Once on the site, enter a strong password, write it down in a safe place, and click Create New Wallet. Next, download your Keystore File to your computer. I highly advise that you make a backup of this as well. This is the most important step of the process. Your funds can be stolen if someone else acquires this file, and youll have no way to recover your account without it. Click I understand. Continue towell, you knowcontinue. Here, you receive your private key. Once again, store this in multiple, secure places and do not share it with anyone. Finally, you can print your paper wallet. Store this as you would any other document thats worth a sizeable amount of money. This wallet has every important piece of information you need: Area to write not Continue reading >>

How To Keep Your Cryptocurrency Safe Using Hardwarewallets.

How To Keep Your Cryptocurrency Safe Using Hardwarewallets.

Serial Entrepreneur, Investor, Marketing Strategist & Blockchain Evangelist How to keep your cryptocurrency safe using hardwarewallets. Now more than ever it is absolutely critical to keep your cryptocurrency safe and secure. We are living in the era of cryptocurrency right now and with this increased attention comes increased risks. Hackers are always on the lookout for some easy money and you have to take extra care that your money doesnt end up in the wrong hands. To do this you must put all your money in a cryptowallet. Cryptowallets basically store your public and private address, using which you can send, receive and store cryptocurrency. There are two kinds of wallets that you can use: While hot wallets are easy to use transaction wise, they are extremely insecure and it is not advised to store a large number of your cryptocurrency in hot wallets. Cold wallets, on the other hand, are extremely secure. If you are looking to store and save large amounts of money, then you should definitely use a cold wallet. However, its not all sunshine and rainbows and there is a major problem with cold wallets. The main issue with cold wallets is that you cannot directly spend your money from them. The only way that you can spend is by re-importing your private key into a hot wallet but by doing this youre negating all the precautions that you had taken by making a cold wallet in the first place. What is the point of making a cold wallet when you are going to import your private keys into a hot wallet anyway? What we are looking for is a wallet which will give you the security of a cold wallet but at the same time make transactions super simple. A wallet which will not only protect your cryptocurrency from malware and hackers but will also make sending and receiving money stupi Continue reading >>

Best Ethereum Wallet (2018 Update) 5 Options Reviewed

Best Ethereum Wallet (2018 Update) 5 Options Reviewed

Last updated on November 24th, 2017 at 08:15 am Ethereum, the blockchain platform that allows smart contracts, is becoming more and more popular.Since the beginning of 2017 the price has spiked from $8.22 to around $50. Ive covered how to buy Ethereum in a previous post but thats only part of the process. Today I want to cover 5different types of Ethereum wallets so you will know where to store your Ethereum. Ethereum is a very technical currency (even more than Bitcoin), therefore most wallets out there arent newbie friendly. I will go over them from the simplest to the most complex so you can choose the one that is best suited to your knowledge level. Hardware wallets Best security (for a price) If youre serious about securing your altcoins I suggest storing your Ethereum on a hardware wallet. However these hardware wallets arent free and cost anywhere between $50-$100 (shipping not included). Todays leading hardware wallets TREZOR , Ledger and KeepKey all supply you with the option to store Ethereum on them. Instead of explaining about each one Ill just link to my previous reviews on the wallets: Personally, I use a TREZOR but all three are excellent choices for maximum security. Coinbases Ethereum wallet The simplest option Coinbase supplies an Ethereum wallet as well as a Bitcoin wallet. Coinbases wallet is simple to set up and very easy to use, however it has a few limitations youll need to be aware of: The company holds the private key ofthe wallet for you. This means youre not in control of your funds and Coinbase can decide to shut down your account if they want to. There were cases in the past that Coinbase shut down user accounts do to illegal activity. The Coinbase ETH wallet doesnt support ETC (Ethereum Classic). For a simple explanation about ETC vs ETH r Continue reading >>

Secure Your Eth And Erc20 Tokens With A Hackproof Ethereum Wallet

Secure Your Eth And Erc20 Tokens With A Hackproof Ethereum Wallet

Before getting started though, we have to point you to another good resource here on CryptoHQ that is closely related to this one: Secure Your Bitcoins! How To Build A Hackproof Bitcoin Wallet. In that particular article, you will find what exactly is a cold storage or an air-gapped machine, terms commonly used among the members of the cryptocurrency community, and why you should use a Linux-based OS instead of Windows. You will also read about the very first step to build any hackproof cryptocurrency wallet which is to prepare your air-gapped device whether its an old notebook or a portable Raspberry Pi. One final note before moving on: as in Bitcoins case, the method we are about to show you is hackproof because you will NEVER reveal your private key. You will never type your private key or use a UTC/JSON file or Keystore file on your online PC. What you will use is an encrypted signed transaction ready to be broadcasted on the Ethereum network. And yes, you will need an air-gapped device beside your everyday online PC. It could very well be the same air-gapped device where you store all your Bitcoins and Litecoins securely. In case youre wondering, STEP 1 is explained thoroughly in our Secure Your Bitcoins! How To Build A Hackproof Bitcoin Wallet article. Now that you built your ultimate hackproof cold storage and very possibly secure your Bitcoins there, its time to use the same approach and store your Ether and ERC20-based tokens. First thing first: download the MyEtherWallet.com website. NO, not just by going into your browser and click on File and Save As. You can download their website and enjoy their offline functionality by accessing their Github page which you can find on the site footer menu -> Github: Latest Release (the resource you need to download is ca Continue reading >>

Ethereum Wallet Guide 2018 | Top 8 Ether Wallets Today

Ethereum Wallet Guide 2018 | Top 8 Ether Wallets Today

The second largest cryptocurrency after bitcoin is ethereum . The cryptocurrency has become popular over the years as several startups use its blockchain for their ICO . The status of ethereum has made it very important to keep your ether safe to avoid theft via a hack. Still wondering what the best ethereum wallet is? Let us have a look at ether wallet and the best ones currently available. With the rise of ethereum this year, it is very important that we improve our security to protect our transactions. Ethereum excels in that since it uses a blockchain that has an integrated Turing complete programming language that makes it a completely secure system. To make transactions such as accepting, selling or storing Ether, you will need to use a wallet that will aid you with that and protect your coins from theft. An ethereum wallet is a software or hardware that communicates with the ether blockchain . Both software and hardware wallets have their advantages and disadvantages when it comes to storing ether. The communication involves sending and verifying transactions. Transactions of ethereum require a payment to be made in the form of Gas. Thus the ether wallet usually comes with a feature that sets the gas price and gas limit while also speeding up the transaction, especially when traffic is high. An ethereum wallet also comes with features like private keys and other security measures that make them unique. Another feature that increases ether wallets security level is the encryption-based identification. Wallet for ethereum works the same way as others. As a result, their passwords are not recoverable. This makes it very hard for hackers to access your wallet as you are the only one that remembers what it is and it cannot be changed There are several ethereum wallet Continue reading >>

Using Myetherwallet For Cold Storage

Using Myetherwallet For Cold Storage

Unzip it and double-click index.html. This should open MyEtherWallet in your browser. Note: do not move files around in this folder. You need the entire folder for it to work correctly. Enter a strong but easy to remember password. Do not forget it. This encrypts (protects) your private key. It does not generate your private key. This password alone will not be enough to access your Ether. Download your Keystore / UTC file & save this file to a USB drive. This is the encrypted version of your private key. You need the password to access it. It is safer than your unencrypted private key but you must have your password to access it in the future. Read the warning. If you understand it, click the "I understand. Continue" button. Print your paper wallet backup and/or carefully hand-write the private key on a piece of paper. If you are writing it, it is recommend you write it 2 or 3 times. This decreases the chance your messy handwriting will prevent you from accessing your wallet later. Copy & paste your address into a text document somewhere. Get it to your primary, online computer. Use the QR code or a different USB drive. It is best if you do not hand-write it Search your address on . Bookmark this page. This is how you will view your balance at any time Send a small amount of Ether (0.0001 ETH) from an exchange or another wallet to your new offline wallet. On your offline device, unlock your wallet from the Keystore / UTC file on your USB drive or via the private key that you printed out. Ensure it unlocks the wallet you are sent to and matches the bookmark you have. Do not simply leave your new wallet open. Pretend you are coming back a year later to access your riches. Can you do it? Send a small amount of Ether (0.00001 ETH) from this new wallet to another address. Continue reading >>

How To Keep Your Erc-20 Tokenssafe

How To Keep Your Erc-20 Tokenssafe

Its a tradeoff computer users had to make since they first connected their devices to the Internet: convenience or security? I believe Andy Grove was right when he said Only the paranoid survive. In these times of digital money, being a little paranoid is healthy. With the exponentially-increasing network value of Ethereum-based protocols and tokens over the past year, users must trade convenience for security or risk losing their crypto assets to hackers. There are a few basic rules one must follow in order to keep digital assets safe from hackers: Always look at addresses closely and dont trust a URL you have not typed yourself (bookmarks are OK too) Check that any site you are doing business on uses https: and that the certificate can be validated Never upload / copy / paste your private key unless you are 100% sure it is safe to do so If you want to run something like MyEtherWallet, do it offline The number of scams trying to pose as myetherwallet.com is rising. Fishing attacks on slack and through email are becoming routine. Like with your fiat currency: when a promise is too good to be true, it usually is not. Its easy to double check information, so do yourself a favour and check twice. Your private key can unlock your tokens and ETH. It does not care who uses it. Therefore keeping it safe is important. The best way to protect your private key is to use a hardware wallet . It is the most secure because a hardware wallet will never divulge the private key to anyone, even to its owner. There are two ways to get to the private key of a hardware wallet: guess a 6 digit pin number in 3 attempts or less. A probability of 1 in 999'997 guessing the 24 words of the mnemonic. There are 2 possibilities. Trying all of them would take trillions of years. The second best meth Continue reading >>

How To Make A Paper Ethereum Wallet

How To Make A Paper Ethereum Wallet

Oliver Dale on November 2, 2017 / 0 Comments It is highly recommended to create an Ethereum paper wallet as one of the safest methods of securing your cryptocurrency. Essentially, an Ether paper wallet is a record of your Ethereum Wallets Private and Public keys which you need to access your wallet and make transactions. Possessing a piece of paper with a code on it and calling it a wallet may come off as a little weird to some. However, it is the safest method you can employ to store your precious Ether coins. Paper wallets provide an extraordinary advantage over other conventional cryptocurrency storage techniques. Imagine the comfort you will feel knowing that your Ether can be stored safely in your house, deposit box, or safe or even buried in your backyard. Advantageously, the paper wallet isnt part of the internet. Therefore, no hacker can ever gain access to your precious cryptocurrencies. A potential thief would have to crack your safe or dig through your whole backyard to find your wallet and cryptocurrency information. A Paper wallet is perfect for people who wish to keep their Ether in cold-storage that is, un-connected from the internet and safely stored away. With a paper wallet the speed for transfers and exchanges, as well as the overall speed at which your Ether becomes available, is greatly reduced. This is due to the coins having to be relayed back to an online wallet before they can be utilized. If you wish to use your Ether at am exchange or for speculation purposes to make some money and benefit from market price fluctuations, then your Ether always has to be readily available. For those purposes, an online wallet is recommended, at least for the sake of efficiency. However, if you plan on sticking with your Ether for the long run by being a Hodler Continue reading >>

Securely Generating And Storing An Ethereumwallet

Securely Generating And Storing An Ethereumwallet

Securely Generating and Storing an EthereumWallet With the rise of Ethereum and Initial Coin Offerings (ICOs), especially ERC20 tokens , people unfamiliar with Ethereum or other cryptocurrencies like BitCoin are becoming interested in the technology. Unfortunately, getting started with Ethereum and participating in ICOs is not simple. The central component in Ethereum is the wallet. An Ethereum wallet is what holds your Ether and other Ethereum-based tokens, and conceptually can be thought of like a real wallet. Like a real wallet, an Ethereum wallet can be stolen. You shouldnt leave it out, or stored on a device that is often connected to the internet, or it risks being hacked. There is no recovery for a stolen wallet the courts cannot help you recover it, and you cant reverse what happens. This guide will explain how to safely generate and store an Ethereum wallet. MyEtherWallet is an open source project to make it simple to create an Ethereum wallet and interact with the Ethereum platform. It is hosted at myetherwallet.com , but its just a static web page. The safe, recommended way of using MyEtherWallet is to download the website yourself, so that there is no risk you go to the wrong website. This also allows you to use MyEtherWallet without being connected to the internet. You can download the latest version of the MyEtherWallet website as a zip file at this link . Download the etherwallet-v, not the chrome extension. When you unzip the file, you get a list of files containing a website. Unzipped MyEtherWallet. Double click index.html to openit. Open index.html to launch MyEtherWallet. Through the magic of mathematics, you can easily create a password-protected Ethereum wallet that no one will ever be able to duplicate accidentally. There are many more available E Continue reading >>

How To Buy & Store Ethereum The Newbie Guide

How To Buy & Store Ethereum The Newbie Guide

If youre new to the crypto-currency space, you may find the idea of how to buy and store Ethereum is quite disconcerting. Youre not wrong, it might be confusing. The good news is, youre in the right place! First, you need to understand Ethereum you can start over here . Now that you are sure you want to buy some Ethereum, lets explore your options. WHERE AND HOW TO BUY ETHEREUM WITH FIAT CURRENCY There are several ways you can purchase Ethereum directly with fiat currency such as USD, EUR or GBP. All you need is a debit or credit card or just a bank account that facilitates international transfers. You simply register an account on one of the recommended exchange platforms below, verify your identity, add a method of payment and youre good to go to buy some Ether. I will discuss how to store your Ether safely below. The verification process that you have to go through in order to buy Ethereum takes now much quicker that it used to and the purchasing process is slowly becoming hassle-free. Just two years ago, you had to take extreme measures to buy Ether. For example, you had to purchase Bitcoin first; then create an ETH wallet; then convert your BTC to ETH seems like its not too complicated, but then you would have to reverse this process if you wanted to convert your Ether into fiat currency. All these conversions would have costed you dearly in transaction and exchange fees (and of course time!) Now, all you have to do is just open an account on one of these recommended exchange platforms to purchase your ETH: The most popular choice is Coinbase as it allows to use your credit card to buy Ethereum directly on the website. Coinbase is a major crypto-currency exchange that offers other services as well. Apart from Ether, you can purchase Bitcoin and Litecoin you can al Continue reading >>

What Is The Recommended Way To Safely Store Ether?

What Is The Recommended Way To Safely Store Ether?

There are several options for storing Ether : Icebox Air gapped offline signing of transactions In short there are a lot of options. So my question is is there an official recommended way of securely storing Ether? If the answer is 'Multi-signature' how should this be backed up (both files & printing the wallet address on paper) and how should the accounts which control the wallet be created and backed up. related question: ethereum.stackexchange.com/questions/1216/ Paul S Feb 11 '16 at 2:08 @JackWinters: I think it's close to being criminal that people consider that a website is an acceptable way to create a paper wallet. For all we know, even if the site looks fair, one time out of 50 it may decide to send a backdoored version to the user. The website could also be hacked and serve a backdoored version to anyone visiting the site during the compromise timeframe, etc. There are secure ways to create paper wallets. Using a website ain't one of them. Cedric Martin Feb 17 '16 at 1:37 A lot has changed since I first asked this question so we probably need some updated answers and some meta discussion. e.g. Should the accepted answer be a community wiki. (This would make it more live but it could also potentially introduce additional security risks since someone could edit the wiki to link to malware or to include deliberate bad advice) JackWinters Dec 7 '16 at 21:25 I believe the Ethereum team recommends using official clients, like Mist or Geth. This makes sense. I recommend that people use whatever tool they can understand best and use with confidence. I do NOT believe that recommending someone who has never used command line to use geth. There's too much room for error and it deters people from investing and getting involved. Regardless of what tool you use to create a Continue reading >>

Off The Grid Bitcoin And Ethereum Storage Adam Hurwitz Medium

Off The Grid Bitcoin And Ethereum Storage Adam Hurwitz Medium

Off The Grid Bitcoin and EthereumStorage No matter how improbable the breach of a digital currency exchange is, physically owning some currency is a goodidea. Even with the improved security from folks like Coinbase with offline storage and their vault account type requiring multiple forms of withdrawal verification, it is still wise to diversify how youre storing digital currency the same way its smart to have a portion for an emergency. Coinbase early on made a decision to store the vast majority (98%+) of customer bitcoin entirely offline... Cold storage is storing digital currency offline. A simple method of offline storage has been creating a paper wallet. An image that can be printed onto paper with a Bitcoin or Ethereum wallet consisting of 2 keys. The public key (your wallet address / how other people send currency to you), and the private key (how you send currency). These paper wallets can be physically printed or saved as a file. Companies have developed devices specifically for storing digital currency offline. These hardware devices are the easiest way to store offline, transport, and send / use digital currency for purchases. Devices include KeepKey , Trezor , and Ledger . I didnt go this route because the devices above are only compatible with one or two currencies. I wanted a solution compatible for both Bitcoin and Ethereum, as well as a storage solution not just for digital currency, but for all of my documents, photos, and content. Alternatively, rather than storing everything on a piece of paper or a standalone digital currency hardware device, you can generate a paper wallet, and then store the pdf on an encrypted (password protected) solid state drive (SSD). An SSD is almost as portable as paper, yet more secure, durable, and versatile than a stan Continue reading >>

How To Store Bitcoins And Other Cryptocurrencies Properly.

How To Store Bitcoins And Other Cryptocurrencies Properly.

How to store Bitcoins and other cryptocurrencies properly. I will tell only a few possible stories that are waiting for you in the case of lack of computer literacy: If you catch some “shit” in an attempt to generate a license key for some extremely desirable game. This software will scan your hard disk, then it will find the private key. After a few milliseconds a new transaction appears on the bitcoin network that will take all of your hard-earned money If your email provider will loose the database of its users. Then some guy John will buy it in the darknet and quickly begin to run different semantic analyzers. After a couple of hours, it will lead to the disappearance of all bitcoins from all of the services that use authorization via email. In other case, some guy Peter, who works for Google and has a admin rights (like Snowden had) simply steal your Bitcoins from some service. And nobody will notice that. Will be like magic. Some virtual exchange, where all of your crypto is stored will disappear along with all the money. Exactly what Mt.Gox did and dozens of others. If you catch some trojan in the process of hunting for a cool porn. It can encrypt all the files on the hard disk. Afterwards it will find all links to your wallets and it quickly realize how much money you have and how much money it can demand from you. If you wan’t pay your hard drive will not be decrypted. This is a tragic scenario. After all, you can’t even send money to this hacker, because your keys will stay on an encrypted hard drive! If you lose your unencrypted laptop or phone. If you catch a clever Keylogger, none of your activities will save you from epic fail. If you will get an email from the service where your crypto-money stored. However the name of website is not blockchain.i Continue reading >>

How To Store Your Bitcoins - Bitcoin Wallets - Coindesk

How To Store Your Bitcoins - Bitcoin Wallets - Coindesk

Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your funds. They come in different forms, designed for different types of device. You can even use paper storage to avoid having them on a computer at all. Of course, it is very important to secure and back up your bitcoin wallet. Bitcoins are a modern equivalent of cash and, every day, another merchant starts accepting them as payment. We know how they are generated  and how a bitcoin transaction works , but how are they stored? We store fiat cash in a physical wallet, and bitcoin works in a similar way, except it's normally digital. Well, to be absolutely accurate, you don't technically store bitcoins anywhere. What you store are the secure digital keys used to access your public bitcoin addresses and sign transactions. This information is stored in a bitcoin wallet. Bitcoin wallets come in a variety of forms. There are five main types of wallet: desktop, mobile, web, paper and hardware. Here’s how they work. If you have already installed the original bitcoin client ( Bitcoin Core ), then you are running a wallet, but may not even know it. In addition to relaying transactions on the network, this software also enables you to create a bitcoin address for sending and receiving the virtual currency, and to store the private key for it. There are other desktop wallets too, all with different features. MultiBit  runs on Windows, Mac OSX, and Linux. Hive is an OS X-based wallet with some unique features, including an app store that connects directly to bitcoin services. Some desktop wallets are tailored for enhanced security: Armory falls into this category. Others focus on anonymity: DarkWallet – uses a lightweight browser plug-in to provide services including coin ‘mixing Continue reading >>

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