Daedalus paper wallet Question


#1

Daedalus Paper Wallets Dangerous?

I am not sure if I understand Daefalus paper wallet correctly?

If my laptop with Daedalus on it, is lost or stolen, anybody who get it and bring it up can run Daedalus, print a paper wallet and recover on another computer thus gaining access to all my AdA?? Right or false. Seem right to me, but someone can confirm?

If right? how do you protect the Ada’s…


#2

Deadelus is just as dangerous as putting money under your bed is. The safety you put into it decides how safe it is. Soon the wallet will be integrated with Ledger support. You can already get another wallet Yoroi with Trezor support. See video in this forum post for a guide on that. Also you could potentially yourself create a paper wallet. I am sure there are other ways as well my point only being that you can make it safer for you.


#3

So creating a paper wallet really removed them from Daedalus?

Also when you create a paper wallet, your 12 words initial recovery phrase becomes obsolete?


#4

Your value is always on the chain.


#5

Your Paper Wallet is a seperate Walllet with own adress and own recovery phrase.


#6

I changed the title to make the topic a bit less sensationalist. The title now better reflects the nature of the request.


#7

Claude,
The paper wallets are very secure due to the complexity of the numbers and randomness used to create the word seeds. If someone steals your laptop, it would not affect your paper wallet security. The biggest security threat for paper wallets in my opinion is if someone steals a paper wallet you have funds on.

Here are some videos I made that may help in understanding paper wallets if you have not used them in Daedalus yet.


#8

Thanks I know the value is always on the chain.


#9

Thanks this will help. I will listen carefully and do several tests to make sure I undersatnd.


#10

Thanks.I agree that they are separate wallet. What I am not sure is what do they contain after the paper wallet is created.


#11

The newly generated paper wallet will contain nothing. It will be an empty address that you can send ada to using the public address shown on the paper.


#12

OK… that is an interesting response. Therefore, if my laptop with Daedalus is stolen, the new owner can generate a paper wallet, but he cannot send my ada to that new paper wallet. Right?

In other word, there is no way I can lose my ADA if my laptop is stolen?


#13

The thief wouldn’t really be doing any damage by creating a new paper wallet on your laptop after he has stolen it. He could try to hack your password, but this could possibly take a very long time depending on how strong your password is.

If your laptop is stolen the best thing you can do right away is send ada off of any wallets used on that computer.


#14

Honestly in most cases someone who steals a laptop is probably just trying to sell it and might not even be looking for any cryptocurrency. If they did stumble upon it they probably wouldn’t be able to hack the password. Nevertheless, you should always take precaution. Create fresh accounts and remove ada from all at risk wallets.


#15

Thanks Joshuanitus… exactly the answers I was looking for.


#16

Thanks you did well.


#17

Claude I might go back to Ile-aux-Coudes i think you know the place. Loved it so much wonderful view perfect place to start accepting ADA. :slight_smile: Now when ever your interested in starting a meetup in Montreal envoyez moi un message les autres Quebecois(se) sont le bien venue.


#18

if value is always on the chain then why the paper wallets?


#19

You can put a paper wallet in your safe deposit box. If that is the only copy of the recovery phrase, there is literally no way anyone could steal your ADA. You would only need a current copy of Daedalus to recovery them.

You could gift them as well.


#20

I think Adam just wanted to make it clear that if you lose a device that had your wallet linked through Daedalus, you didn’t actually lose any ada. As long as you hold your recovery phrase, you still have access to your ada.

Paper wallets provide a more secure means of storing ada. You are given a 27 word recovery phrase while a normal wallet created on Daedalus is only 12 words. After you create a paper wallet on a computer, there is no link to that paper wallet on that computer. You only have the recovery phrase it gave you at creation. A normal wallet would be linked on your computer and all you would need is the spending password if you created one (which you should always do). The only time you need the 12 word is if you forget your password or move the wallet to a new computer. It should also be noted that you can remove wallets from Daedalus through the wallet settings panel.

Hope this helps.