At Bitvest, we take security and transparency seriously.We use a Trezor (Cold/Hardware wallet) to ensure the best security for our players and investors.To demonstrate our commitment, we invite you to explore our overview on what we believe to be the most secure methods of storing user funds.One of the most important factors in security is having as small of an attack surface as possible.Our method of storage and authentication allows us to securely send funds, and verify with 100% certainty that nothing has been tampered with, even if the device we are using to send funds were to become compromised.Since, our coins are stored on a hardware wallet (a form of cold storage); theft is nearly impossible.These concepts are explained in further detail below.There are two primary categories of bitcoin wallets.Hot Wallets, and Cold Wallets.Hot wallets are useful for holding a modest amount of coins and are a more convenient way of transferring funds, however, their connection to the internet allows a possible compromise, which makes hot wallets less secure than the alternative.

We store a couple of coins in our hot wallet to allow instant withdrawals of up to a few bitcoins in size; the main advantage of a hot wallet.Hot wallets are usually the best for the average user, however, if you need to store more than a couple of coins, cold storage is a must.Cold storage is the most secure way to store coins, this is accomplished by using dedicated hardware that is never connected to the internet.This makes it so any transaction sent from the wallet requires physical access to the machine, which makes any attempt at hacking the wallet effectively impossible.At Bitvest, we use a Trezor bitcoin wallet for this purpose.Trezors are one of the numerous hardware wallets built specifically to store bitcoins as securely as possible.We store 98%+ of the site's funds in cold storage.A Man-in-the-middle attack (MITM) in our case, would be an attack where something between Bitvest and our computers change the address we see.For example, a user requests a withdrawal of 1 BTC to 1BitcoinAddress, but our computers were compromised to show 1HackerAddress.

Without any protection in place, we'd have no way of knowing the address was illegitimate, and we'd be fooled into sending the coins to the false address presented to us on our computer.To prevent this, we receive a signed “withdrawal request” from Bitvest’s server.bitcoin core torIt looks like this.litecoin value tickerThe withdrawal request contains the following: With this information and the signature, we can securely verify the request on our Trezors.bitcoin atm new york cityIf our computers were to be compromised and any details were modified, our Trezors would alert us to the invalid signature; preventing the theft of any coins.bitcoin bip 16

You can read up on how and why bitcoin signatures work here to learn more.Be one of the first to read our posts and you'll receive a bonus code for the faucet!If you read this post you probably have already purchased bitcoins from a bitcoin ATM and instead of using your own previously created wallet address you let the machine generate one for you.ethereum aud chartIf you are still planning to buy bitcoins from a bitcoin ATM you might want to use our bitcoin ATM map to find a location or check our tutorial on how to buy bitcoins from bitcoin ATM.bitcoin mining mit iphoneNot all bitcoin machines support generating and printing of address on receipts, many don’t even support printing receipts at all.So here is a list of known bitcoin ATM types, which can generate and print a paper wallet for you: All Genesis Coin ATMs (Genesi1, Satoshi1, Satoshi2) can do this: Also General Bytes two-way BATMThree model (one way BATMTwo doesn’t support it), BitAccess machines and BitXatm bitcoin ATM can generate and print receipt with bitcoin wallet address: When you use one of these machines and choose an option to generate address for you (you don’t have your own wallet) machine will print a brand new paper wallet for you at the end of the process or before the purchase, which normally will contain a public key (at the top) and a private key (at the bottom).

Similar to this one: At some bitcoin ATM models, like BATMThree for example, public key is located at the bottom on opposite, but it should be clear where is what from the hint text on the receipt.As you already know – a public key (actually it is a bitcoin address in this case, which is a changed form of a public key) is something you can show to others (in this case they will be able to not only send funds to this address, but also see a balance – it is like watch access only).However, private key is something you need to keep very secretly as anybody who has access to it can use and send bitcoins from this address, so don’t share it with others.It is a general practice to sweep bitcoins from such a receipt as soon as possible and it is highly not advisable to use such receipts as a form of paper wallet storage.Bitcoin address was generated by a bitcoin ATM which you cannot control, so in case the machine was compromised – potentially there is a vector of attack to access your funds.

So sweep bitcoins from receipt as soon as you get your own wallet, or you have address where to send them, e.g.to pay for something.It is also important to understand a difference between importing a private key and sweeping it, and we recommend always to sweep your bitcoins from printed private key because when you import a key, bitcoins are still controlled by the same key, although now you can use your wallet to handle them.Sweeping on opposite sends bitcoins to a new address, which is controlled by a new private key.So that means if somebody has access to private key printed by bitcoin ATM, they won’t be able to use your bitcoins anymore, which is not the case when you just import the key.So now you probably ask yourself – how can I use bitcoins from this receipt.What we recommend is to use one of the mobile wallets available.Depending on which phone you use you can choose either Mycelium for Android platform or Breadwallet for iOS, these are two mostly recommended for the two mostly used mobile OS.

Read how to use a wallet for Android phone in order to import private keys in the next section.In order to find details about iPhone wallet, jump to Breadwallet section.Before you proceed with sweeping bitcoins, you need to install Mycelium app and create your wallet there, which will be done by default.It is recommended to make a backup of your wallet before your first use (which is available via context menu and is basically writing down your seed words and store them safely), which will guarantee that if you lose your phone or de-install the app, you will still be able to recover your bitcoins from the wallet.So first you need to choose an account you want to use (by default you have only one account): So now when you have wallet created click Menu on top right and choose “Cold Storage”: You will be displayed with a description and several options, you need to click on “QR code” button: Now you need to scan a private key from your receipt (the one which is usually at the bottom of the receipt), when it is scanned information with address and balance will be displayed.

This information relates to how many bitcoins you purchased from bitcoin ATM, now click Send button: In the list of options choose My Addresses and when you confirm the funds will automatically be sent to one of addresses in the account you just created: If you have several accounts you need to choose one and define the amount of bitcoins to sweep (use “Max” button to transfer all): Choose Send on the next screen: So now bitcoins are safe and only you have access to control over them.You can send or pay with bitcoins using your Mycelium wallet later on.The full process can also be seen on the following video: Breadwallet is a popular wallet for iOS system.You can find it in Apple store in order to install.During the start-up steps the wallet will ask you to write down seed words.You can postpone it, but we highly recommend to do it from the beginning.When you open your wallet click on menu (top left): And then choose “Import private key”.The name is a bit misleading, because what Breadwallet app does in this case is actually sweeping private key (sending bitcoins to a new address within the wallet), but not actually importing it.