Strongcoin bitcoins

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Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. Strongcoin claims it is "The Safest way to store your Bitcoins. The only Bitcoin e-wallet service that's not vulnerable to security breaches. Your Bitcoin keys are encrypted in the browser.

As I understand it, with their system your private keys are essentially encrypted by your browser before they are sent to the website. They also appear to have a method of creating an encrypted paper copy of your wallet so you can restore your wallet if the website disappears. Even so, it seems you're still potentially vulnerable if you access your wallet from an infected computer i. 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 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 you do not trust the site owner it is therefore not recommended you use such a service. Assuming the site has been programmed correctly in the event of a database leak only your encrypted keys will be leaked. The attacker maybe able to brute force your password if it is not secure enough, but as long as users are made aware of the leak they will have enough time to move their coins to new addresses.

In the event of a full server breach the attacker may be able to alter the javascript code or website code to send him an unencrypted copy of the keys next time you login. This type of attack is generally less common than database leaks and to have any significant effect would need to go unnoticed by the site operator. As your password is never sent to the server the site owner cannot offer a password recovery procedure. In the event of a lost password your key s will be unusable.

Paper wallet backups can help with this. If you have a key logger or virus on your computer it is possible to that it could intercept your password which the attacker can then use to login to your wallet and spend your coins. Traditional desktop wallets are also vulnerable to this. My Wallet is less vulnerable to this as the site supports yubikey two factor authentication.

One final note: Using My Wallet you can add your Bitcoin address only without the associated private key. If you then keep a paper wallet backup of your private key even in the event your account is compromised there is nothing to steal. 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 wallet.

StrongCoin is a convenient way to store and spend Bitcoins. I recommend you hold your spending Bitcoins in StrongCoin and use an offline mechanism for your savings or high value holdings. 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.

You should also have the ability to store locally a version of the trusted applet for your own use. This is important if you still want to use the service after StrongCoin receives a court order to serve compromised applets to certain persons suspected of 'something'. Weak password - Since the private keys are stored on StrongCoin servers encrypted and protected with a passphrase, you would be subject to brute force attacks from anyone that gained access to the server data so a strong password is essential.

Keyboard sniffers and cameras - You are only as secure as your physical surroundings so be aware of keyboard loggers hardware and software and cameras that may have been inconspicuously placed above your computer work station to capture your passphrase.

Legal and physical jurisdiction - The StrongCoin servers are subject to court orders of the jurisdiction in which they they are located. If StrongCoin is legally domiciled in a different jurisdiction than the physical servers, then that country's courts could also have jurisdiction.

Both jurisdictions should be examined for their privacy and data protection statutes. In addition to the points made in the other answers on this page, the key derivation function used by StrongCoin to derive an AES encryption key from the user's password which is then used to encrypt the user's private wallet key is very weak. This page on StrongCoin's blog explains how users' private wallet keys, which are encrypted by StrongCoin's client-side javascript, can be decrypted using openssl , by way of the following command:.

This openssl command is notorious for using a very weak key derivation function - i. To quote from the accepted answer:. This is quite weak! Anybody who knows how to write code on a PC can try to crack such a scheme and will be able to "try" several dozens of millions of potential passwords per second hundreds of millions will be achievable with a GPU.

If you use openssl enc, make sure your password has very high entropy! Or, preferably, don't use it at all; instead, go for something more robust GnuPG, when doing symmetric encryption for a password, uses a stronger KDF with many iterations of the underlying hash function. Sign up to join this community. There are some cons as well. At least for now, it does not support native SegWit addresses, and the fees are quite expensive, as many others have also stated here.

I don't have enough knowledge to estimate if the extra layer of security StrongCoin provides private key encryption in the browser is worth the extra costs in transaction fees. Jack Holden - October 17, Yakooza - November 1, They are scam. I feel sorry they are top of Google.

I didn't read the reviews. Their minimum transaction fee is 0. Jimmy - September 10, Stay far of this killer site. Ahmad - April 28, It charges HUGE fees!! Worst experience ever, lost most of my deposits. Alex - April 22, John Smith - January 12, Ricardo Chagas - October 2, Strongcoin is a big SCAM!!!

I've trusted them and now lost all my money. They should go to a prision. Now what can I do? Just cry? I am pretty sure they banned me for a reason. I pressed the "increase your security" in their wallet. But I didn't want to make a password of images, so I changed my mind and went back to the main page. I thought they had taken my 0. NO part of the page would work as I was banned everywhere. Now I am storing it on a Ledger Wallet instead.

For some reason they took 0. I will not use this site in the future. I am sure they mean well, but I feel the trust has been broken here. Dave - August 25, Stroncoin will not respond to multiple emails and does not publish a phone number.

The will not allow me to send coins.

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In the event of a lost password your key s will be unusable. Paper wallet backups can help with this. If you have a key logger or virus on your computer it is possible to that it could intercept your password which the attacker can then use to login to your wallet and spend your coins.

Traditional desktop wallets are also vulnerable to this. My Wallet is less vulnerable to this as the site supports yubikey two factor authentication. One final note: Using My Wallet you can add your Bitcoin address only without the associated private key. If you then keep a paper wallet backup of your private key even in the event your account is compromised there is nothing to steal.

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 wallet. StrongCoin is a convenient way to store and spend Bitcoins.

I recommend you hold your spending Bitcoins in StrongCoin and use an offline mechanism for your savings or high value holdings. 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.

You should also have the ability to store locally a version of the trusted applet for your own use. This is important if you still want to use the service after StrongCoin receives a court order to serve compromised applets to certain persons suspected of 'something'. Weak password - Since the private keys are stored on StrongCoin servers encrypted and protected with a passphrase, you would be subject to brute force attacks from anyone that gained access to the server data so a strong password is essential.

Keyboard sniffers and cameras - You are only as secure as your physical surroundings so be aware of keyboard loggers hardware and software and cameras that may have been inconspicuously placed above your computer work station to capture your passphrase. Legal and physical jurisdiction - The StrongCoin servers are subject to court orders of the jurisdiction in which they they are located.

If StrongCoin is legally domiciled in a different jurisdiction than the physical servers, then that country's courts could also have jurisdiction. Both jurisdictions should be examined for their privacy and data protection statutes. In addition to the points made in the other answers on this page, the key derivation function used by StrongCoin to derive an AES encryption key from the user's password which is then used to encrypt the user's private wallet key is very weak.

This page on StrongCoin's blog explains how users' private wallet keys, which are encrypted by StrongCoin's client-side javascript, can be decrypted using openssl , by way of the following command:. This openssl command is notorious for using a very weak key derivation function - i. To quote from the accepted answer:. This is quite weak! Anybody who knows how to write code on a PC can try to crack such a scheme and will be able to "try" several dozens of millions of potential passwords per second hundreds of millions will be achievable with a GPU.

If you use openssl enc, make sure your password has very high entropy! Or, preferably, don't use it at all; instead, go for something more robust GnuPG, when doing symmetric encryption for a password, uses a stronger KDF with many iterations of the underlying hash function. Sign up to join this community. The best answers are voted up and rise to the top. What are the risks of using Strongcoin. Ask Question. Asked 9 years, 2 months ago.

Active 1 month ago. Viewed 6k times. What other risks are there in using such a service? Note: I have not used Strongcoin, and have no affiliation with them in any way. Improve this question. Highly Irregular Highly Irregular Related, April incident: bitcoinmagazine.

Add a comment. Active Oldest Votes. 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. The website database is leaked Assuming the site has been programmed correctly in the event of a database leak only your encrypted keys will be leaked. The website server is compromised In the event of a full server breach the attacker may be able to alter the javascript code or website code to send him an unencrypted copy of the keys next time you login.

You forget your password As your password is never sent to the server the site owner cannot offer a password recovery procedure. I had created the wallet and transferred some bitcoin there few years ago, and now when I tried to send, it asked me to type in another password. It wouldn't take my current login password nor my original login password I had changed it, as is recommended to do once in a while. Luckily, I found the other password from my archives.

Obviously it had asked me to create another password an "encryption password" as Christina says when I created the wallet and I had forgotten about it. After typing in this "encryption password" I was able to send bitcoin. There are some cons as well. At least for now, it does not support native SegWit addresses, and the fees are quite expensive, as many others have also stated here.

I don't have enough knowledge to estimate if the extra layer of security StrongCoin provides private key encryption in the browser is worth the extra costs in transaction fees. Jack Holden - October 17, Yakooza - November 1, They are scam. I feel sorry they are top of Google. I didn't read the reviews. Their minimum transaction fee is 0. Jimmy - September 10, Stay far of this killer site. Ahmad - April 28, It charges HUGE fees!!

Worst experience ever, lost most of my deposits. Alex - April 22, John Smith - January 12, Ricardo Chagas - October 2, Strongcoin is a big SCAM!!! I've trusted them and now lost all my money. They should go to a prision. Now what can I do? Just cry? I am pretty sure they banned me for a reason.

I pressed the "increase your security" in their wallet. But I didn't want to make a password of images, so I changed my mind and went back to the main page. I thought they had taken my 0. NO part of the page would work as I was banned everywhere. Now I am storing it on a Ledger Wallet instead. For some reason they took 0.

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Users Hold the Private Keys: Unlike on an exchange, where the exchange holds your private keys, with StrongCoin, users control the private keys. Buy Bitcoins Directly: StrongCoin also lets you buy bitcoins directly. The company has partnered with bitcoin purchasing platform called Glidera to offer direct bitcoin purchasing to clients. As of October , over , people are using StrongCoin to store their bitcoins. Hybrid Wallet: A hybrid wallet allows you to send and receive bitcoins like a normal bitcoin wallet, but you maintain control of your private keys.

His LinkedIn page simply lists him as Ian P. Carbon Wallet, meanwhile, is a multi-signature bitcoin storage solution where you get one signature and Carbon Wallet gets the other for added security. Meanwhile, a Google search for StrongCoin will reveal a number of users complaining about high fees.

Others report a fee of 0. As a hybrid wallet, StrongCoin encrypts and decrypts private keys from within your browser before sending the encrypted private keys to the StrongCoin server. The main advantage of this is that you can access your private keys through a third party, centralized verification service.

You may want to avoid StrongCoin until more information appears online. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter , Join us in Telegram.

Stay tuned. E-mail is already registered on the site. Please use the Login form or enter another. You entered an incorrect username or password. How Does StrongCoin Work? StrongCoin Features StrongCoin emphasizes all of the following features: Users Hold the Private Keys: Unlike on an exchange, where the exchange holds your private keys, with StrongCoin, users control the private keys. Bitcoin Exchange Guide News Team. Add a picture. Choose file. Add a quote. Submit Cancel. Subscribe Replies to my comments All comments.

Sorry, you must be logged in to post a comment. Go to mobile version. Sign Up. Email Error: please, enter correct email. This definitely incentivises people to use stronger passwords. Strongcoin offers its escrow services too which is nothing but a hassle free technique to carry out transactions. The escrow services hold the money when a transaction is in process so as to ensure the buyer releases the money to the seller.

The feature of Cold Storage i. Cold Storage is a regular feature of Bitcoin wallets these days. The User Interface is not very attractive. The sites homepage is fair enough and keeps the reader engaged but once you log-in things turn a bit messier.

Too many tabs are present which might confuse some users. Famous bitcoin wallets like Blockchain have a much better UI. However, the website provides comprehensive details about how to put Strongcoin to the best use with a separate Blog section catering to discussions on the Bitcoin wallet. Strongcoin definitely is a reliable Bitcoin wallet with all its features and checks inspiring confidence in the user.

Only the UI requires a bit more effort from their side. Your email address will not be published. This site uses Akismet to reduce spam. Learn how your comment data is processed. Services Strongcoin. UI The User Interface is not very attractive. Security and Reliability Strongcoin definitely is a reliable Bitcoin wallet with all its features and checks inspiring confidence in the user.

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