31

As the operator of the site I will try and answer the first question. Server Side The site currently runs on 4 dedicated servers, hosted in a locked cabinet. All servers run behind a dedicated cisco security appliance with intrusion detection. On the servers themselves various "booby traps" are set to alert the webmaster if an intrusion is detected. The ...


20

I am the operator of My Wallet which is a similar javascript based wallet service. I will try and keep this answer as impartial as possible. The Website Owner is Malicious The website operator is free to change the javascript code at any time so if they are so inclined can change the code to uploaded your unencrypted keys or intercept your password. If ...


16

Because Mt.Gox has to abide by anti money laundering laws they require at least some form of identification. Although this is a requirement for Fiat to Bitcoin conversion there is no need to link your normal bitcoin transactions to your Bank Account / Identity. Wallet services that deal solely with bitcoin do not need to comply with AML laws and hence ...


14

I'm the owner of StrongCoin. Ben has detailed just about every possible risk with StrongCoin. You can read about how we handle server security in our FAQ. It's not in my interests to defraud my customers, I'm pretty easy to trace and I don't fancy having angry users knocking on my door So with Bitcoin like cash there are risks with storage, I lost a ...


12

Accuracy not guaranteed Blockchain.info Wallets are json files. The json file is encrypted using AES (crypto-js) before the browsers asks that it be stored on the server. The wallet file is embedded in the login page as a html data attribute, the browser decrypts the file with the provided password and extracts a list of private keys and addresses. The ...


10

Essentially it boils down to the tradeoffs between security and convenience. Instawallet is incredibly convenient, but not all that secure (as no password is required, and if you lose the URL, you lose the ability to spend the funds.) Paytunia was a great shared (hosted) EWallet for a beginner, and there is a mobile app (for Android). A new version of ...


9

Sorry to dig up and old question but I just wanted to add a link to My Wallet provided by blockchain.info I guess the thing that separates My Wallet from other e-wallet providers is that the site aims to feel more like an actually bitcoin client rather providing disposable addresses. I tried to design the site to be easy to use and it should seem familiar ...


8

If you are missing the first word and you know the rest of the 11 words, there are 2048 possible mnemonics but only ~128 of them are valid. Using Python and this library you can print all the valid ones with this simple script: from btctools.HD import check, WORDS phrase = "{x} decrease enjoy credit fold prepare school midnight flower wrong false already" ...


7

There are two types of EWallets, hosted (shared) EWallets and hybrid EWallets. With hosted EWallets, all the coins are shared (all customers funds are combined) in the host's EWallet. Examples of this are Paytunia.com, Instawallet.org, EasyWallet.org, WalletBit.com, as well as the online wallets with the exchanges, such as MtGox.com, Bitfloor, etc. ...


7

If you want to keep your private keys secret (on your phone, that is), I'd recommend Bitcoin Wallet for Android The app also does not imply any trust in single servers, as it manages the block chain on-device.


7

I have recently created a Faucet and an eWallet for the TestNet. It is very basic, but serves its purpose.


7

Try using bitwasp. It seems to provide a lot of features you need. Try it and let us know if it works. https://github.com/Bit-Wasp/BitWasp https://bitcointalk.org/index.php?topic=109223.0


6

I'd recommend to read up on Bitcoin to understand what you're doing. Then you can find an overview of wallets on bitcoin.org, but for a quick start, the fastest way to get started is: Desktop (Windows/Mac/Linux) : Electrum or MultiBit Android : Bitcoin Wallet by Andreas Schildbach iOS : Bread Wallet Windows phone : Get an Android phone instead These are ...


6

I would recommend VirCurEx. You can use it as a wallet or trade between different currencies.


6

Mt. Gox operates a hosted (shared) EWallet. That means that the bitcoin address provided to you for making deposits is not your address, it is instead Mt. Gox's address that they will monitor and credit your account for for any coins received at that address. But to withdraw, you are entirely at Mt. Gox's mercy. Their terms of service, shown when you ...


6

Mt Gox is large enough to attract regular hackers. I had my account liquidated recently by a thief. Whereas I think some of their extra security apps might be beneficial (e.g. Yubikey) I thought a $25 investment to protect a $50 account was silly. Now I'm $50 lighter, so maybe it was not as unwarranted as I first thought. Bottom line: Mind your security. My ...


6

That address only receives deposits to your account. Otherwise, they'd have no idea what account to credit when funds wound up in that address. But you can't use blockexplorer to monitor your balance, only to monitor the total amount of deposits you've made. InstaWallet will remove funds from that account as they wish to aggregate your funds with other ...


6

I built a dedicated testnet wallet during a weekend hackathon http://testnetwallet.com


5

I agree with the answers of both Ian and Ben. Let me point out that I like the StrongCoin service. As former CEO of Hushmail, I would like to add some relevant information because Hushmail is like an encrypted wallet for email and we faced a similar set of issues. The other risks that need to be addressed with services such as StrongCoin are: Spoofed ...


5

Update: I ceased to be affiliated with the MultiBit project in May 2016. MultiBit is now wholly owned by KeepKey LLC and only the MultiBit HD wallet is supported. The comment below from 2011 refers to the old MultiBit Classic wallet which nobody should be using any more. MultiBit HD is its direct replacement and remains a viable Bitcoin wallet (subject to ...


5

This chart comparing all major desktop clients is pretty good, and is well maintained by a bitcointalk regular: http://dre.natverk.org/compare.htm Discussion about it here: https://bitcointalk.org/index.php?topic=83768.0 Nothing about e-wallets, though.


5

The loss refers to a few things, all centered around the simple fact that using an online wallet creates a SPOF (single point of failure). Consider effects on your balance when: Online wallet operator incompetence enables Accidental deletion of private keys for addresses in which your balance is stored. Security vulnerabilities in proprietary code may let ...


5

I tested it by creating a secure wallet on BitGo. They gave a multisig address for deposits. 2/3 of keys are needed to withdraw Bitcoins. BitGo holds one key, you get private key and backup key. You don't need to printed private key to withdraw Bitcoins. the passphrase is enough (apparently the key is derived form the passphrase). BitGo cannot do Bitcoin ...


5

If it is a web wallet that holds your private keys, then it is certainly possible that the service is staking your coins for you, but this may or may not be a feature that the developers of the particular web wallet have implemented. It is also possible that the web wallet creators take the stake as a payment for their service, which I hope the service would ...


4

Great resources here to help you select an individual wallet: https://bitcoin.org/en/choose-your-wallet Truthfully, having your own wallet that works across Windows/Android/Chrome might be on the tricky side for beginners. If you don't mind a web-based wallet where it's controlled by another party, I'd suggest using Coinbase, Xapo, or Circle as the easiest ...


4

This will be the first site to get under attack by the governments when they start their attack on Bitcoin and you will lose all your deposits. :(


4

Satoshi dice uses the same address bitcoins were sent to send them back. There no wallet that does not permit that, how could you spend coins if at first you cannot receive them. The kind of "wallet" satoshi dice is refering to is like you try to spend bitocoin from a broker service (like Mt.Gox) the address they use is not assured to be yours (and the coin ...


4

BitLotto has the same restrictions and maintains a list of compatible wallets. Currently that list includes: Bitcoin-Qt/bitcoind (client) Electrum (client/server) Armory (client, Bitcoin client dependency) BitcoinJ (Client) MultiBit (Simplified payment verification/SPV client) Blockchain.info (Hybrid EWallet) Blockchain App for Android, iOS (Mobile app ...


4

For large numbers of coins, software wallets (online or desktop), no matter how well designed, are not safe. Online clients aren't safe because the ones that are encrypted your side (like blockchain) might somewhat be susceptible to man-in-the-middle attacks. As Lohoris mentioned, Blockchain uses js verification with Github, requiring both websites to be ...


4

At Justcoin.com, we've used a few different methods over the years: Generate addresses using bitcoind, now called bitcoin core, when we need them. To avoid key loss in the case of storage failure, we use a large key pool. The command is simply getnewaddress. Hierarchical deterministic wallets are much better and we use these for an increasing number of ...


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