Correctly storing your private keys could sometimes be very confusing and tiring. Accidents happen — whether it’s a lost computer/phone, robbery or a potential scare. But if you followed a correct approach of storing it, then you can make a potential crypto-catastrophe into a minor problem that can be easily fixed.

One of our community member ran into this issue when robbers sneaked into his home and took away his documents bag containing private keys along with other precious items. Luckily he had a backup so was able to transfer his funds into different wallet.

Ques. Is it safe to keep your private keys at home ?

Ans. Yes, but with proper cautions.

Ques. Why should I keep keys offline ?

Ans. Because, keeping keys offline with no access to the internet make them immune to online hackers.

Ques. What security measures should I take apart from purchasing hardware wallets ?

Ans. Cipher your private key yourself.

Ques. How to cipher by self ?

Ans. Read further…..

A cipher (or cypher) is an algorithm for performing encryption or decryption.

But it does not mean that only tech geniuses can write a cipher. I am sharing the simplest approach which anyone can easily apply and remember as well.

1

Take any random number ( 2 for example ) , and add this number to all numerics in private key.

So, 1 will become 3 , 2 will become 3 , ……, 8 will become 0 , 9 will become 1 , 0 will become 2.

Plaintext Private Key : 1hj7uy6yt5

Ciphertext Private Key : 3hj9uy8yt7

2

Take any random number ( 2 for example ) , and shift alphabets by same number in private key.

So, “a” will become “c” , “b” will become “d” , ……., “y” will become “a” , “z” will become “b”.

Plaintext Private Key : 1hj7uy6yt5

Ciphertext Private Key : 1jl7wa6av5

3

Combining both methods — Method 1 and Method 2.

So, 1 will become 3 and similarly alphabets will change from “a” to “c” and so on.

Plaintext Private Key : 1hj7uy6yt5

Ciphertext Private Key : 3jl9wa8av7

You can make your own combinations like changing only last numeric/alphabet using above method. But, whatever you choose just don’t make it too complex so that it becomes impossible for you to break later. So, pick a simple one which you can remember easily.

Now, if you have got a fair idea about generating ciphered text you can understand how easy it is to trick a robber.

Practically, robbery is a rare event and robbers are not going to apply that level of creativity to decipher your text. So chances are now very slim of losing your funds.

I would recommend you to follow these steps while writing down private key :

1. Take a clean paper and ball pen ( not a fountain pen ).

2. Cipher your key.

3. Mark all small characters with DOWN symbol ( as some characters may confuse you later like alphabet c ).

4. Mark all numerics with ~ symbol ( as some characters may confuse you later like small l and numeric 1 ).

5. Seal pack this paper inside polythene bag ( to protect it from water ).

6. Keep this sealed packet inside any fireproof box/material ( to protect it from fire ).

7. Make 2 copies at least and hide it in different locations/corners of your home.

For example :

A ciphered private key using Method — 3

Storing and backing up keys is essential for your crypto-safety, so make sure you are taking the right steps for your security.

For more interesting ways/discussions join me(whiteSign) on Telegram : https://goo.gl/eDPwWU

I shared basics of security in my previous article which you can find here : https://goo.gl/cCAzac