Is there an easy way to generate paper wallets securely? What types of wallets should you be using for different tiers / amounts of bitcoin? Following the standards for storage is the safest way to hold cryptocurrency, not by designing your own contrived system. You’re more likely to accidentally lose or destroy your keys than have them stolen.

This is a question from the patron-only live Q&A which took place on December 16th 2017. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

RELATED:
How do I choose a wallet? – https://youtu.be/tN6b62sEpsY
How do I secure my bitcoin? – https://youtu.be/vt-zXEsJ61U
Hot vs. cold wallets – https://youtu.be/Aji_E9sw0AE
How to get people to care about security – https://youtu.be/Ji1lS9NMz1E
Where can I buy and spend bitcoin? – https://youtu.be/RPR5dtmXnY8
HODLing and the “get free” scheme – https://youtu.be/MhOwmsW1YNI
Borderless money – https://youtu.be/EZh1-ZqffOw
Wealth distribution statistics – https://youtu.be/X2Qsz4eaSPY
Decentralised exchanges and counterparty risk – https://youtu.be/hi_jaw0dT9M
Atomic swaps – https://youtu.be/fNFBA2UmUmg
Farewell to Centralised Data – https://youtu.be/ul0aGzF-v5c

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Subscribe to the channel to learn more about Bitcoin & open blockchains!

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33 COMMENTS

  1. It’s clear to me that Andreas has an amazing technical brain combined with great common sense solid advice. I love his videos and I’m about to read his book which I’m looking forward to, even though I’ll need google and a scientific dictionary to interpret all of his writings.

  2. Does the actual phone need do be locked by passcode? I never have a lock screen cause they kinda suck, and if someone breaks into my banking i dont really care because they refund what's stolen. Obviously with bitcoin its a different case, is it really that important to have multiple redundancies/ passcodes for everyday device functions? And not just have them to access the applications where you use and manipulate coin?

  3. Hey Anton. I remember seeing in one of your video's, you mentioned that you have a paper wallet which was made on a computer that had never touched the internet. Does that mean that you aren't using this paper wallet anymore?

  4. I feel like I'm nitpicking here, but you should use a different background. A roll of seamless photo paper – the stuff professional photographers use – will run about $60. I'll even buy it for you if you are simply feeling cheap.

  5. I wouldn't recommend listening or watching anyone else other than Andreas. This man is truly the heart of cryptocurrency explaining it from his heart. I truly appreciate all of the hard time that you have put into this and then what impact you have made. You're the only one who makes sense nor have I ever question anything you have said. Thank you!

  6. Very! Very!! Very!!! good advice..? I'm just now getting back to #Bitcoin since the early days with Satoshi et al. Though I have run a full node off and on when I could from the beginning, as I do now. 

    I spent the past few years on the sidewalks of skid-row, sleeping under cardboard. So I wasn't able to keep up with things for a while. But it's all good now.

    I've really been enjoying #Bitcoin again, and enjoy updating my computer science and cryptography. The tools and science have advanced significantly.

    If your threat level is extremely high, there are some additional things that might be fun knowing about and looking into. Without question a hardware wallet is a great way to go.

    But I can't resist the Red! pill. So here we go. I like bip39 and feel it's the safest way to go. But I also love the Idea of #Electrum on an offline clean boot live CD/USB (tails). Then using Gnome on-screen keyboard to enter your Electrum extended passphrase.

    Then copy your seed + all your keys to #keepassx on USB. Lock the vault with a password and keyfile. Then copy your keepassx database to a #veracrypt hidden container. Lock the container with a password and keyfile.

    Then uuencode/old school (base64 etc) the multi-layer vaults and there keyfiles separately. Next we add the secret sauce. Shamir's Secret Sharing to be specific (k, n). Then we scatter the pieces to the wind (the darknet, email, embedding in audio, pictures, printed on paper, safes, lockbox, buried in the ground, you name it)..?

    This is multiple layers of security, and multiple layers of plausible deniability. This way you can safely, plausibly deny custody and control, including physical possession. All while maintaining security and access.

    This is just a rough draft. But you get the idea. #TheRedPill..?

  7. $5 hardware wallet. 2gb USB drive and tails OS. Best cold storage system I've found, but a little harder to access and spend than ledger or trezor. I consider this a good thing and operate in tiers as aantonop suggests.

  8. The thing that confuses me is that even though I have my crypto on a trezor, I rely on the trezor website to access the device. If trezor website gets hacked, could my holdings not be hacked?

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