Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
Not to sound like a know-it-all here, but since we're all ex-EQ loving gamer pals I want to share what I've done recently to secure what recently became 'I need to make sure this is safe' levels of money.
I bought a MSI Desktop Computer Cubi N-049US Pentium N3710 (1.60 GHz) 4 GB DDR3L 500 GB HDD 32 GB SSD Intel HD Graphics 405 Windows 10 Pro 64-Bit - Newegg.com which is a $300 mini PC. I then followed much of this guide: Penetration Testers’ Guide to Windows 10 Privacy & Security (but not nearly of all of it because it's overkill) to security harden Windows. Most important stuff: disable file sharing, LAN networking, SMB, netbios, disable remote access to admin account.
The idea is to only run crypto wallets on this little box and nothing else and never run a browser or other software on it beyond utilities such as 7zip. All files put on it will be via usb thumb drive. I had a KVM switch available to me that I used to hook up to my 2nd PC's monitor keyboard and mouse so I didn't need to buy them. The reason to do this, obviously, is because malware to grab crypto wallets exist and will become more common. Recently Handbrake's site (a popular video encoder) was distributing a trojan; legit sites can be hacked to serve malware. I check software hashes and PGP signatures when available. One thing I like to do sometimes is download software and not run it for awhile and check for any news of the site being hacked before I install it.
I selected this particular mini PC because it has 4 gigs of ram and Windows 10 Pro. Pro is important for bitlocker (obviously this box should be encrypted) and some other security features. Blockchain downloading wallets (e.g. Monero, Sia) probably won't run if your machine only has 2 gigs. Also this machine has a 500 gig spinner it in along with the tiny SSD, and that much space is required for those wallets. I had to symbolic link the wallets' data folders found in the AppData and ProgramData folders to the spinner (via mklink in the command prompt) so the folders would be on the spinner.
When I first got the machine I uninstalled the junk, updated to Win 10 Creator's Update, then used the new 'Fresh Start' feature instead of reinstalling Windows with a USB before doing anything else.
This little box also has a kensington lock hole. I bought a kensington lock (the steel cables used to secure laptops) and wrapped it around my large heavy desk. A typical thief only spends 12 minutes in your home, so this should prevent a typical home break-in theft. A tiny computer will be stolen otherwise.
I also put seeds and passwords on paper in a fire resistant safe. Get one that can protect paper at 1500+C for at least 30 minutes and big/heavy enough that a thief wouldn't just steal the entire thing locked. I rarely leave my home due to disability but I'm looking into some home security options as well because they're cheap nowadays.
For you people anywhere near six digits I would recommend safety deposit boxes with cold storage keys. For you rich people I suggest multiple safety deposit boxes with parts of keys like the Winklevoss twins did.
I bought a MSI Desktop Computer Cubi N-049US Pentium N3710 (1.60 GHz) 4 GB DDR3L 500 GB HDD 32 GB SSD Intel HD Graphics 405 Windows 10 Pro 64-Bit - Newegg.com which is a $300 mini PC. I then followed much of this guide: Penetration Testers’ Guide to Windows 10 Privacy & Security (but not nearly of all of it because it's overkill) to security harden Windows. Most important stuff: disable file sharing, LAN networking, SMB, netbios, disable remote access to admin account.
The idea is to only run crypto wallets on this little box and nothing else and never run a browser or other software on it beyond utilities such as 7zip. All files put on it will be via usb thumb drive. I had a KVM switch available to me that I used to hook up to my 2nd PC's monitor keyboard and mouse so I didn't need to buy them. The reason to do this, obviously, is because malware to grab crypto wallets exist and will become more common. Recently Handbrake's site (a popular video encoder) was distributing a trojan; legit sites can be hacked to serve malware. I check software hashes and PGP signatures when available. One thing I like to do sometimes is download software and not run it for awhile and check for any news of the site being hacked before I install it.
I selected this particular mini PC because it has 4 gigs of ram and Windows 10 Pro. Pro is important for bitlocker (obviously this box should be encrypted) and some other security features. Blockchain downloading wallets (e.g. Monero, Sia) probably won't run if your machine only has 2 gigs. Also this machine has a 500 gig spinner it in along with the tiny SSD, and that much space is required for those wallets. I had to symbolic link the wallets' data folders found in the AppData and ProgramData folders to the spinner (via mklink in the command prompt) so the folders would be on the spinner.
When I first got the machine I uninstalled the junk, updated to Win 10 Creator's Update, then used the new 'Fresh Start' feature instead of reinstalling Windows with a USB before doing anything else.
This little box also has a kensington lock hole. I bought a kensington lock (the steel cables used to secure laptops) and wrapped it around my large heavy desk. A typical thief only spends 12 minutes in your home, so this should prevent a typical home break-in theft. A tiny computer will be stolen otherwise.
I also put seeds and passwords on paper in a fire resistant safe. Get one that can protect paper at 1500+C for at least 30 minutes and big/heavy enough that a thief wouldn't just steal the entire thing locked. I rarely leave my home due to disability but I'm looking into some home security options as well because they're cheap nowadays.
For you people anywhere near six digits I would recommend safety deposit boxes with cold storage keys. For you rich people I suggest multiple safety deposit boxes with parts of keys like the Winklevoss twins did.
- 4
I need to do this too. Some ideas:
Passwords/seeds/2FAs in a VeraCrypt container using a password you won't forget on a USB thumb drive and give it to a relative or a very close friend. You can also use PaperBack and give them a piece of paper instead. Encrypted containers allow you do use Dropbox or similar as well of course, but make sure the password is long enough/has enough entropy that it cannot be brute forced. (and you'll need to remember the dropbox password as well) Given to a trusted source you could probably get away with a shorter one, just don't label it 'my crypto fortune'.
It's also worth mentioning that paper will survive housefires better than electronics as electronics will fail before paper ignites. (or so I've read) Electronics in a safe might not survive. So called 'media rated safes' are more expensive because they keep things cooler in a fire.
edit: another thing to consider is that USB flash drive memory will fail after some time which is another reason why paper storage is attractive
Passwords/seeds/2FAs in a VeraCrypt container using a password you won't forget on a USB thumb drive and give it to a relative or a very close friend. You can also use PaperBack and give them a piece of paper instead. Encrypted containers allow you do use Dropbox or similar as well of course, but make sure the password is long enough/has enough entropy that it cannot be brute forced. (and you'll need to remember the dropbox password as well) Given to a trusted source you could probably get away with a shorter one, just don't label it 'my crypto fortune'.
It's also worth mentioning that paper will survive housefires better than electronics as electronics will fail before paper ignites. (or so I've read) Electronics in a safe might not survive. So called 'media rated safes' are more expensive because they keep things cooler in a fire.
edit: another thing to consider is that USB flash drive memory will fail after some time which is another reason why paper storage is attractive
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Scoresby
Trakanon Raider
- 783
- 1,436
Was thinking about this the other day. What about a mnemonic seed that is every nth word from the first chapter of your favorite book. Using your birthday as the index, it would be as easy as remembering your birthday and having a copy of your favorite book handy. That way you don't have to write anything down.
Control
Ahn'Qiraj Raider
- 2,243
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We should all keep in mind that there are plenty of things that can happen that can keep us from remembering our birthday. On some level it goes without saying, but it's also something that people avoid doing because it's shitty to think about... Make sure the right people are familiar enough and comfortable enough with your security measures that they can do whatever needs to be done if something happens to you.
The chances of actually needing high-end security are pretty small. The chances of your next of kin eventually having to unravel your security or lose whatever you're securing? 100%
/spreadingchristmascheer
- 1
I'm retarded at this. Outside of Reddit to read what people are doing and my fiancee telling me we should have done this 4 years ago , I'd rather come here. Any bros here willing to toss me a PM and give me the basics to get rolling? It's more of a hobby at this point.
Elerion
N00b
- 735
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Whatever you do, don’t put in anything you aren’t completely comfortable losing.
- 1
Security from hackers & break-ins, security from fire/disaster, and ensuring your heirs get it. Pick two and it's easily solved. Security of all three at once is hard. I've been pondering this for weeks now. This is why Coinbase is launching a service just for rich people.
- 1
Braindead simple way is sign up at Coinbase, submit to the anal probe, and buy coins easily with their otherwise very simple and painless UX. If you don't buy a lot, you can just keep it there and not fuss with wallets. They've never been hacked and professional exchanges have learned to keep most of their coins secure in cold wallets. Enable 2 factor authentication.
If you buy a significant amount of coins, you'll want to hold most of them yourself. I suggest Electrum wallet. When you install that, you'll want to write down the lists of words it gives you (that's the seed). You can recreate the wallet with them in case your PC explodes. Make goddamn sure nobody gets that list or they can take all your money.
Moving money is simple. Just copy and paste the addresses into wallets, enter amount, hit send. PM if you have questions.
This is a good page to bookmark for beginners: Jameson Lopp :: Bitcoin Resources
Watch these videos.
- 3
Arative
Vyemm Raider
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One thing to be careful of if you have your own wallet is having a lot of small amounts of Bitcoin, if you go to send a larger amount it's going to cost you more in fee. It's not as simple as .1+.5+.3.+.1=1. More inputs will increase the kb size of the transaction, which increases your cost to send.
- 1
Sludig
Golden Baronet of the Realm
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When a full bitcoin is $15k, is it pretty much impossible, or just worthless to say throw $500 at it to play with? (Vs some of the bigger jumping coins of other flavors?) Something simple that I can do on coinbase seems good. I'm pretty comfortable with being patient and not freaking out and pulling out unless I invest significant amounts, but that's why plan would be maybe toss $500 spare cash at it, then re-evaluate in a year or so continuing to put any money in it vs classical investments.
Oh and with mention of days of processing sometimes? Does that mean you can get screwed if you say try to buy a coin at 10k and it either fails or goes thru after raising in price in a few days? Or is rate locked in with a buy/sell order it's just authorizing or whatever?
Oh and with mention of days of processing sometimes? Does that mean you can get screwed if you say try to buy a coin at 10k and it either fails or goes thru after raising in price in a few days? Or is rate locked in with a buy/sell order it's just authorizing or whatever?
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Coins are divisible by 8 decimal places. You could buy a fraction of one cent worth of BTC if you wanted. It's not practical to use though if you buy less than what the typical transaction fees are currently, but if you just buy it as an investment, you can leave it on Coinbase and sell it there and not pay a transaction fee.
'Processing' can mean different things:
Bitcoin can only process so many transactions/time, so it has a fee market where you offer a fee to have your transaction processed. If you pay enough, you'll have your transaction processed in the next block. Only people who don't offer enough in fees have to wait. The time to wait at a particular fee rate varies depending on demand/use at the time. The bitcoin protocol itself has no concept of USD value. There is no 'rate locking' there.
If you buy/sell from Coinbase, then there are delays for people who haven't met certain KYC (Know Your Customer) requirements. They'll lock in rates at buy/sell time I believe.
If you're buying/selling on an exchange with an order book and such, then buys/sells are instant once you move your money there from your wallet. (which, again, can take time and costs a fee) Once you move it there, the money becomes theirs (regardless of what their UI says) and you have to trust that they'll give it back to you when you demand it. This is why it's a risk (known as counterparty risk) to hold money on an exchange and it's bad practice to leave money there needlessly. That said, Coinbase/GDAX is very reputable.
'Processing' can mean different things:
Bitcoin can only process so many transactions/time, so it has a fee market where you offer a fee to have your transaction processed. If you pay enough, you'll have your transaction processed in the next block. Only people who don't offer enough in fees have to wait. The time to wait at a particular fee rate varies depending on demand/use at the time. The bitcoin protocol itself has no concept of USD value. There is no 'rate locking' there.
If you buy/sell from Coinbase, then there are delays for people who haven't met certain KYC (Know Your Customer) requirements. They'll lock in rates at buy/sell time I believe.
If you're buying/selling on an exchange with an order book and such, then buys/sells are instant once you move your money there from your wallet. (which, again, can take time and costs a fee) Once you move it there, the money becomes theirs (regardless of what their UI says) and you have to trust that they'll give it back to you when you demand it. This is why it's a risk (known as counterparty risk) to hold money on an exchange and it's bad practice to leave money there needlessly. That said, Coinbase/GDAX is very reputable.
You need to add debit or credit card for instant buy sells. Attaching bank is the slow one.
Siliconemelons
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Oh man im glad I didnt listen to Khane. Making big fuck you money this week
Ripple (XRP) To the moon.
Khane
Got something right about marriage
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Oh really?
You argued with me and then after the fact agreed with the bolded line.
You're not too bright. GL with all your future investments.
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