Its not possible to generate a wallet in daedalus disconected from the internet!?
You should not use any if you were referring to the “Password Safe” password manager on computer.
But, it depends on a proper risk assessment as @gazhayes has mentioned.
How much money are you talking abt, what is the probability for losing them by hackers (high enough), natural disasters (low) or mistakes (high forgetting password etc), HW faults (low but increase by time) , your expertise in security etc.
Imagine you put everything there and your disk fails and no backups, as usual. Whoops, oh to prevent this you create multiple copies and put them different locations etc. etc.
As I mentioned, you introduce more complexity without any security gain but opposite losing security.
And also it depends, on how your comp is or can be compromised. If they can access to your screen remotely and use some keylogger, then you’re out of luck no any Password manager would help.
Why not paper w/ pencil/pen? There is no any hacker who can reach it from computer.
If you’re a kind of paranoid then buy Cryptosteel (for fire an/or water damage) put it in a safe in your home or buy two and put the 2nd in a bank safe deposit.
So, I would say that paper copies (max 2 or 3) are the best with an optional very-easy-to-remember password for plausible deniability (e.g. somebody rob your place and finds your seed recovery phrases).
If you afraid of losing it by natural disaster, make one or max two copies put the second to some safe deposit box in a remote Bank e.g. one in your parents’ city. Check Andreas’ advises and do not try to be smart in computer security if it’s not your expertise.
I even use KeePass but not for my crypto savings.
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You can use cardano-cli for generating wallet addresses offline. See an example below:
$ ./cardano-cli blockchain new test
local blockchain 'test' created.
$ ./cardano-cli wallet create testwallet
'You can add a recovery wallet password. You can set no password, however you won`t benefit from plausible deniability'
recovery password:
confirm password:
'Please, note carefully the following mnemonic words. They will be needed to recover your wallet.'
english: 'leg name destroy mask afraid dinner cart boring skin style unveil certain cliff suggest juice enrich scorpion truly unable bleak tennis win square flag'
'Set a wallet password. This is for local usage only, allows you to protect your cached private key and prevent from creating non desired transactions.'
spending password:
confirm spending password:
wallet `testwallet` successfully created.
$ ./cardano-cli-Linux wallet attach testwallet test
Wallet successfully attached to blockchain.
$ ./cardano-cli-Linux wallet address testwallet 0 0
Enter the wallet password.
wallet password: :
Ae2tdPwUPEZMftYG7NJLeo3xaUFAgvkBmcMLfrTZ7m98GphhKcSJcRXFQA5
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What an idiotic response!
I wrote this to warn people.
Even if you would click on this link, nothing would happen.
You actually have to download and install the application on your computer.
This is why I wrote this, so people can recognize the threat
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For crypto in general I use the following:
Hot wallet (something you use for daily expenses, not needed if you are just hodling)
- Hardware wallets like Trezor and Ledger are great for this, so if a currency is supported on one of them, I use it.
- My next option is a computer that usually stays offline. Use Linux unless there’s a good reason not to. Keep it offline unless you actually need to send a transaction. Avoid using Windows. Do not use the computer for any other purpose.
- Smartphone wallet: when I want to use crypto when I’m out and about. I use Breadwallet.
Cold storage:
- I use hexadecimal dice to generate entropy. For Bitcoin, I wrote my own script because I’m paranoid. I have 99 dice (all 16 sided hexadecimal). I put them in a bucket, swish them around, and pour them out onto the floor. Then I use a stick push them all into a single line. Then I use those numbers (in order) as the randomness to generate a private key. I don’t trust the random number generators in operating systems for long term storage, but again, I’m paranoid.
For Cardano, I do the same, but I have a slightly modified cardano-cli that lets me use custom entropy (so I can use the dice). - After the private keys have been generated I engrave them (or the corresponding seed words) onto three stainless steel plates. I then put the three plates in three separate (and very safe) locations.
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Thanks for your answer. I have it on paper but just thought it could be more convenient if I could have it with me all the time. And since my crypto assets are not worth very much, losing my passwords would be much more of a problem than my coins. I have always a backup of my password manager to avoid losing my passwords.
If a password manager is not save enough against hackers, this is a very bad thing. But imagine what happens if I have all my crypto pass phrases only on paper and want to access it, I have to insert my pass phrase into a computer with internet connection and again hackers will have a chance to get them. So it’s not really hacker-proof. Or do I miss the point?
“The fact that I’m paranoid doesn’t mean no one’s after me.”
Thanks for your answer! If I ever get reasonable amounts of crypto I’ll invest in some dice too! 
There is no difference in having a text file on your computer and storing your banking credentials inside it. If your computer gets hacked and bank credentials and your funds get stolen, this is a “user side” problem, it is not your banks fault someone logged in and transferred your funds once they obtained your details from an insecure laptop.
The same is true for Daedalus. The application like your wallet (or Cardano like your bank) is not responsible for the security of your physical wallet and debit card or a text file on your laptop or desktop computer, the user / account holder is responsible. While Cardano can provide suggestions for “securing your environment” all this information exists and has for years and is updated fairly readily by security researchers and those “in the know”. Getting information about properly securing your system should come from those sources and nobody should expect that Cardano’s responsibility is to aggregate all this security information for you and keep it up to date with every new security hole found in your OS.
While it really sucks that anybody is losing their funds, ever, period, no debate… Expecting a request to your bank to fix your laptop security so people cannot steal files from it which contain secrets to access your accounts would obviously get you nowhere with your bank. Expecting this to be different with the same request to Cardano is far fetched. I feel you should not consider this people “claiming from their high horses”, or looking down on you as a “dumb pleb”. It’s just the basic facts. Individuals need to be responsible with their laptop security when they run cryptocurrency wallets, just like they need to protect their bank account passwords, their debit card and their PIN #'s. No amount of feeling your request is being opposed by those around you is going to change this, just like demanding your bank secure your laptop, desktop or front door locks on your home is going to get the same kind of response.
I have always been a big defender of Cardano and Charles Hoskinson and
held Cardano since 2017. Contrary to what I strongly believed and was assured of
Daedalus wallet is not safe first people assume that everyone is stupid,
there is someone brute forcing Daedalus paraphrases and “getting lucky” then
when someone says I was robbed the answer is always Daedalus is completely safe,
and you let someone get your paraphrase or private key.
I have been holding Ada since 2017 I got a new laptop this year put a brand new
Daedalus wallet and sent the Ada to the wallet from old wallet new meaning not
restored so the transaction cost to send to a total exchange of wallets.
On 8/04/2021 at 4:28 Am I was robbed. I am old but up at 730 Am I was still very much
asleep when this happened.
My paraphrase my laptop and my private keys are totally guarded and no one but me
has access. SO no one should assume I wasn’t tight security, I see always
people say couldn’t happen, instead of putting any suspicion on hackers and the security
of the wallet and investigating, if I were designing something I would encourage
any and all people to report the circumstances, so as to inform people of the risks and
to further learn how to protect my supporters. Instead, it seems to fall on death ears
at best at worst, it always appears that the user is blamed.
There must be ways of freezing your coins on the blockchain and if anyone restores
your wallet through seed phrase they would still need a blockchain password.
Or follow the standards of it taking 20 days to unfreeze your coins when they are staked
that is much less of an inconvenience than loosing 101,308.944 Ada as I did.
Transaction # e248a1faba0b684673508d88f1b04f7c79b19be6e10af645c190820335d3e8a3