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What does everyone think? Also what are the advantages and disadvantages of each one?
Paper wallet vs wallet.dat on memory stick for long term storage?
Answers
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Paper wallet:
pros:
- easy to store
- easy to create
- provide the same amount of security as the fiat money does
- you don't need to worry about viruses
- valid for a long time
cons:
- easy to be misplaced
- if you cannot provide phisical security, it is more likely useless
wallet.dat on pendrive
pros:
- none, in my opinion
cons:
- easy to be misplaced
- pendrive can become corrupted in the next few years, due to hardware deterioration
- it can easly be stolen or copied
- again, you need to provide phisical security
- wallet.dat format can change over time, thus making your data hard to recover (depends on the future decision of devs)
pro pendrive: More convenient re-import of wallet.dat, compared to typing or scanning from paper – pyramids – 2013-11-28T20:31:14.990
Actually... no. What is more convinient for you? Scanning a QR code / typing private key into Btc client, or merge 2 wallet.dat (it is non-trivial using standard BitcoinQT client)? – Maciej Mączko – 2013-11-28T22:40:02.603
I suppose it might depend on your situation. I would have assumed you'd be replacing the (unused) wallet.dat, but I see your point, too. – pyramids – 2013-11-28T23:15:49.213