What type of Bitcoin wallet is more secure than others?


What type of Bitcoin wallet is more secure than others among Paper wallet, Physical bitcoin, Mobile wallet and Web wallet ?


Posted 2018-09-16T19:57:43.383

Reputation: 996



This is similar to comparing apples to oranges.

Let's talk about keys, and not paper/physical/web wallets.

A key is only as secure as the weakest link that needs to be broken to access it. A key printed on a piece of paper locked in a secure bank vault is considerably more secure than a web wallet hosted on a shared hosting instance somewhere.

Security should be approached based on what you are trying to prevent against. Inherently, a web wallet requires trusting a third party, which is bad from the a security point of view. Although a well designed web wallet, following the best practices is less susceptible to being drained than a private key stored in your desk drawer during a home invasion, it is more susceptible to other kinds of attacks. Moreover, you rarely have a guarantee that the people who operate web wallets are not storing your keys in a manner that make them freely accessible to them.

For a secure wallet, you need to find a key storage method that protects against attacks you are likely to face. For most people, this can be as simple as using Electrum, or a hardware wallet. For a company or exchange with millions in funds, this will require much more work, and may involve multisig operators, bank vaults, split keys, and other security measures that would be overkill for a regular user.

There is no definitive approach to "most secure".

Raghav Sood

Posted 2018-09-16T19:57:43.383

Reputation: 15 741