Bitcoin Q&A: Key Storage Finest Practices

What’s a hierarchical deterministic (HD) pockets? How are paper wallets completely different from {hardware} wallets? Which of the Bitcoin wallets and / or purchasers (cell, desktop, {hardware}) is greatest for storing cash? Are {hardware} wallets with Bluetooth safe? Concerning desktop wallets, what occurs in case your laborious drive fails? Do you have to use completely different instruments for storage of keys versus spending? Do you have to encrypt a textual content file for chilly storage of keys?

These questions are from the fourth session of MOOC 11, which came about on February twenty second 2019. In order for you early-access to talks and an opportunity to take part within the month-to-month reside Q&As with Andreas, turn into a patron:

Are {hardware} wallets safe sufficient? –
How do I select a pockets? –
Safe, tiered storage system –
{Hardware} wallets and assault floor –
Establishing safe storage gadgets –
What’s a personal key? –
How do mneomonic seeds work? –
Utilizing paper wallets –
Pockets design and mass adoption –
Cryptographic primitives –
Public keys vs. addresses –
Re-using addresses –
Passphrases and seed storage –
Coin choice and privateness –
Multi-signature and distributed storage –
Nonces, mining, and quantum computing –
Is quantum computing a risk? –
Find out how to get folks to care about safety –
Wallets, nodes, and financial sovereignty –

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has turn into probably the most well-known and revered figures in Bitcoin. He’s the writer of “Mastering Bitcoin,” “The Web of Cash” collection, and “Mastering Ethereum.”

Observe on Twitter: @aantonop
Web site:

Subscribe to the channel to be taught extra about Bitcoin & open blockchains; click on on the purple bell to allow notifications about new movies!


Translations of MASTERING BITCOIN:


Translations of THE INTERNET OF MONEY:
Spanish, ‘Web del Dinero’ (v1) –
German, ‘Das Web des Geldes’ (v1) –
German, ‘Das Web des Geldes’ (v2) –
French, ‘L’web de l’argent’ (v1) –
Russian, ‘Интернет денег’ (v1) –
Vietnamese, ‘Web Của Tiền Tệ’ (v1) –


Music: “Unbounded” by Orfan ()
Outro Graphics: Phneep ()
Outro Artwork: Rock Barcellos ()
Be part of the aantonop Channel:

Previous articleEthereum, Iota y Litecoin: simplemente dejamos que el precio se desarrolle
Next articleInvesting in Cryptocurrency for Inexperienced persons Half I: What’s the Definition of Cash


  1. I dont understand 8:22. He says that he get access to hardware wallets through some mobile and desktop wallets, but how so without importing the hardware wallets and entering the phrase of it?

  2. Bitcoin is currently my most favorite thing and i completely love the technology behind it out of which has spewed several other coins. I know its quite unclear for many how lucrative bitcoin is currently as most people have lost several thousands of dollars already in holding their coins. In my case, i have earned thousands by following a less talked about approach which is day trading. Trading is less affected by the speculative and unpredictable nature of cryptocurrency and with the right techniques and expertise, you can easily earn so much when others are actually making loses in an unstable market. Several ways to make consistent profit but the safest and easiest would be using the guidance, signals and already proven trade strategies of a successful trader. Quite a few of them but my favorite would always remain Mrs Elizabeth Gibbons. I was able to easily triple my portfolio in just 4 weeks of trading with her. It would be only fair for me not to hide such a gem in the space. You can reach her on Gmail([email protected] com) and ask her pretty much anything about trading and how she can help you become a better and more profitable in trading cryptocurrency.

  3. I love this guy. LITERALLY…what would we do in this space without him or someone like him?

  4. how do I ensure the change goes back to the original address? what wallet programs will do this?

  5. Hello! I really enjoy listening to Your You tube videos, Your knowledge of blockchain and cryptocurrencies is incredible! I have a question for You. Last week I made the mistake of sending USDT from My Finance account to the wallet address supplied for My Shakepay account in Canada. Shakepay tells Me that because they do not handle USDT they are not sure they can retrieve those funds for Me. Is there anyway that I would be able to have the funds returned to My Binance account, or are they lost forever? Thank You for Your time!

  6. Thanks for another SUPERB video. Another to keep in my back pocket to whip out to help explain this to others as it comes up 👍👍👍

  7. Excellent! professional experienced advice. Study and dissect what he says. He’s detailing how to securely hold the keys to the kingdom..👍😀

  8. If there is going to be mass adoption, someone is going to need to translate this video into English for the average American. (wallets for dummies)

  9. The obvious reality that hardware wallets will not remain reliable over time (because of changes in business and logistical practices of the manufacturer – and due to business failures, mergers, etc) frankly never occurred to me before, and this makes hardware wallets an *absolute* nonstarter for the average human being. The idea that Joe and Jane 6 pack will accept going to the trouble of periodically (in a very complex and risky process) shifting to an entirely new hardware wallet to keep their vital savings safe, is simply absurd.

    For widespread adoption to succeed, the average human being needs to be able to put their keys on a hardware wallet and be *absolutely* assured that they can go to that wallet 100 years later and withdraw their funds easily and successfully.

    Until that guarantee is in place, any sane lay consumer will choose an insured custody provider like Coinbase, and not a hardware wallet.

    Those of you in cryptocurrency tech need to put yourselves in the shoes of the lay person and do serious work to quickly solve this problem, or the vision of a peer to peer, uncensored, democratic economic system will never happen.

  10. I would personally have designed any wireless activity to be NFC activated and the pairing of NFC devices only available during wired mode…

  11. Good info but here Andreas is being a bit disingenuous when he says he’s changing his cold storage “about every 6 months”.

    I’m guessing the more accurate answer is that he relies heavily on the Ledger Nano S, the Ledger Blue and the Ledger X. Just a guess based upon the fact that Ledger is pretty far ahead of most other cold storage device companies. In fact, they’re launching the Ledger Vault for businesses and yes I hate the overused use of the word “enterprise”. Prior to 2015 no one was really using that. It came into common usage around the time “literally” made its unfortunate move from a word that actually has a meaning, to a word that is used inaccurately and inappropriately to such an extent as to make me want to puke all over the planet on a daily basis. Probably the same way some of you reading this feel about my verbosity. And some may even be thinking . . . wow! “verbosity”! That’s a big word for a half wit. All of that drivel aside . . . the Ledger Vault is actually new technology that no other company is using. And no I’m not part of the company, or an investor and no I don’t use Ledger Vault because I’m not a small company.

    My main point here is that I wish Andreas had shared with the viewer which cold storage device he CURRENTLY is using and feeling safe about.



  12. Just reading ch 8 Internet of money, fantastic tech!! Thank you for sharing this treasure! I am an artist a a very visual person, visual aids would be very helpful in sharing this info. This is going to CHANGE our WORLD! I want to help share this tech, imagine a world where the “other” 5 billion people are brought into the modern economy! That will be growth

  13. Thank you again Andrea’s Antonolupos.
    It would be received with great gratitude if someone would provide links to clear step by step instructional videos and pictograms that could be followed by the 6 to 60+ general population.
    If you believe there’s room for improvement with what already exists do you and others known to you have the combined resources to do so. No need to ask permission to engage in this creative destruction.
    Is bitcoin not the seed that is the gift to humanity that offers a true alternative beyond the illusion of choice.
    If we the uneducated unexperienced among those who have an interest what bitcoin is can educate even 5 people who then educate a further 5 and so on to safely aquire/purchase, store and transact in bitcoin then we all benefit, have the ability and opportunity to contribute.

  14. wow such an useful video. Im reading alot on crypto for more than 2 years, however the fact that remain balance gets transfered to another address was complete new to me. Thanks!

  15. All good advices except (IMHO) at 6:33: “destroy the paper wallet”. Never destroy a private key, even if it’s assumed to be empty (it may not be empty now, it may not be empty in the future).

  16. Thanks for these helpful informations!!
    you don’t trust softwares running on desktop or mobile
    but why do you trust hardware devices?
    in reality we trust humans who made these software and devices
    why do you think we should trust hardware devices?

  17. How do you trust the manufacturer of the hardware wallet? For example, how can you know that the private keys being generated on say a Ledger are truly random, and that the device isn’t sending the private keys over somewhere?

  18. CaN I import a paper wallet from a hardware wallet without introducing the private key in a software separate from the hardware wallet? If it is not possible, in your opinion what would be the best software wallet to sweep a paper wallet? Considering I do not have an advanced knowledge to trust the software I can download to sweep the paper wallet.

  19. 16:47 Nice to have my completely ignorant thoughts validated despite misinformation everywhere. It makes no sense to obfuscate a secure backup; that’s just banking on your security not being good enough. If your primary security is good enough, then having a second layer of encryption only serves to make your own recovery harder.

  20. I know this video is old but maybe someone could help answer a simple question. I want to use the 25th word or “passphrase” option on my HW wallet so I can link that with the secret pin code for security reasons. Is using a 25th password where the password is “weak” somehow less safe than just the standard 24 word seed? In other words… Since I’m doing this for plausible deniability I’m not concerned about anyone getting my 24 words. Adding thr 25th word is solely for the feature of the hidden accounts associated with it. In this scenario, is choosing a 25th word that is weak, somehow less secure overall than the standard 24 word phrase? Sorry I know this sounds silly.

Comments are closed.