Securely encrypting a cold storage wallet

Question

I'm going to buy bitcoin to exchange BRL to CAD currency, as it's gonna be a great amount I'm concerned about the security of my wallet. I don't want to use a physical backup like paper or device because I don't trust myself to not lose or burn anything.

By my study so far the best option is to generate a wallet in an offline and secure device and to encrypt the private key before to do a backup.

Does someone suggest me an App or strategy to do this?

Portuguese version Eu tenho uma dúvida! Pretendo comprar bitcoins como forma de transferência para o exterior, como é uma grande quantidade estou preocupado com a segurança da minha wallet. Não pretendo fazer um backup em papel ou num dispositivo físico pq não confio muito em mim mesmo pra não perder ou queimar alguma coisa.

Pelo que estudei até então a melhor opção é gerar uma carteira num dispositivo seguro e offline e criptografar a chave privada antes de fazer um backup. Alguém me sugere algum App, ou bons jeitos de fazer isso?

Answer 1

Even if you seem worried about losing your coins, the safest way to store bitcoins is probably to acquire a hardware wallet. To mitigate the risk, you should store several copies of your wallet seed words in different locations. This is a form of backup that allows you to regenerate your wallet on another hardware wallet if you lose the first. It is highly recommended that you store the backups in a way that they are not easily accessible to other people that may use the backup to steal your coins.

If you're going to invest significantly more than $1,000, the one-time cost of acquiring a hardware wallet at ~$100 seems a reasonable investment to me.

Answer 2

you can use cold storage provided by many wallets, Methods of cold storage include keeping bitcoins: 1. On a USB drive or other data storage medium in a safe place (e.g. safe deposit box, safe) 2. On a paper wallet. On a bearer item such as a physical bitcoin.

Some Wallets like Armory and Xapo

Answer 3

Setting a password in your electrum wallet will encrypt it. However note that hackers getting to your offline backups is far less likely than you forgetting the password to your wallet and losing your coins that way. this is why it is recommended that you write down the seed words on paper during the wallet creation process.