An Experiment In Bitcoin Popularity And Security

Recently, business strategy and recruitment specialist Tal Newhart, spoke to PRNewswire about a case involving the physical theft of bitcoins perpetrated by a car breaker. In connection to this, CoinTelegraph has conducted a survey of experts to find out what the best ways to protect Bitcoin wallets are.

There are different means of digital protection of Bitcoin wallets, such as multi signature, deep cold storage, hardware wallets or the BIP38 protocol. It’s up to to the user, which of these secure measures they choose. For example, security researcher and crypto enthusiast, Ryan Castelucci, prefers to use BIP38-encrypted paper wallets. He told CoinTelegraph:

 “I use BIP38-encrypted paper wallets with strong passphrases for some of my Bitcoin, kept in a safe”.

He also shared his opinion on hardware wallets and multi-signature:

“Hardware wallets seem like a very good solution for the masses, but I have not personally evaluated any or looked into the different products in detail, so I decline to make any specific recommendation. There are a number of things that are catastrophic if gotten wrong in hardware wallets such as nonce-reuse and poor random key generation.


Read more ... source: TheBitcoinNews