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phonewallet: formatting

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openoms
2020-11-17 18:26:34 +00:00
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phonewallet.md
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@@ -17,9 +17,10 @@ A recommendation to people who are looking into how to take custody of their fir
* note that this is not a private way to use bitcoin since the wallet is connecting to the server of Blockstream
## Phone specs
* use a dedicated device to minimise the attack surface (can be a used phone sitting in the drawer, but the most recent model it is the better)
* use a dedicated device to minimise the attack surface
* can be a used phone sitting in the drawer, but the more recent model it is the better
* locked bootloader (true to all factory firmwares - see the [notes on custom firmwares below](#using-a-custom-firmware))
* encrypted storage - default on iPhones and newer Androids when a PIN screen lock is set
* encrypted storage - default on iPhones and newer Androids when a screen lock with a PIN is set
## Steps done on the phone
* set up in a safe environment and network
@@ -45,6 +46,7 @@ with email and Google Authenticator
* the watch only wallet can be used to generate addresses and monitor the funds on the blockchain
* there is no risk of losing the funds if the watch-only device is lost, stolen or compromised (it only contains the public keys, not touching the private ones)
* note the privacy implications of the labels, addresses and xpub being stored on Blockstream's server
## Using a custom firmware
* a locked bootloader is a must - check on Android with:
`fastboot oem device-info`
@@ -62,7 +64,6 @@ with email and Google Authenticator
* [How secure is full-disk encryption technology on LineageOS, or Android phones in general?](https://security.stackexchange.com/questions/210994/how-secure-is-full-disk-encryption-technology-on-lineageos-or-android-phones-in)
## Level up
* [Single seed multi-location backup schemes](https://github.com/openoms/bitcoin-tutorials/blob/master/backups/README.md)
The aim is to create 3 packages of cryptographically secure backups where the funds cannot be recovered from any single package, but can be recovered with the combination of any two.
Can be thought of as a physical 2-of-3 multisig solution.