Make it any sense to have 2 myetherwallet accounts

Bitcoin Questions and AnswersCategory: General questionsMake it any sense to have 2 myetherwallet accounts

Kai asked 6 months ago

Hello,
make it any sense to have 2 myetherwallet accounts / address, one for monthly use and not so important coins, and other for important use and for long term investing, I mean is that better for security?
Thanks

2 Answers
Steven Hay answered 6 months ago

Hi Kai,
 
Well, the security depends on how you’re dealing with the private keys. If you’ve saved them in plaintext and you’re entering them into that site, then your security is really low. Anyone who accesses your saved privkeys, either on your machine or en route to MEW, can copy them and take your ethers… So duplication doesn’t improve security very much in this case.
 
I suppose that if you enter the long-term storage privkey less frequently, there’s less chance of it being intercepted… However, on a compromised system it will just be a matter of time until an attacker gets both keys. You might get  an early warning if the “cash” account is hacked first which will allow you to save the long term account.
 
If you’re using a hardware wallet with MEW, then it’s probably just as hard to steal 2 privkeys as 1. In both cases, a highly sophisticated hack of the HW would be necessary.
 
I guess if you tell me which method you’re using to secure the private key, I could give you a better answer.

Kai replied 6 months ago

Hello Steven,

Thanks for your answer, I store my private key on a paper wallet, but when I enter my ether wallet I use to login the private key and not the combination of the password with file.

is using the compination better and more secure? is it much harder to steel that file ( downloaded from computer) as steel the privat key. is it easier to catch a privat key then download a file from hacked computer.

So I should use this compination and not using my privat key so much?

Kai answered 6 months ago

Hello Steven,
Thanks for your answer, I store my private key on a paper wallet, but when I enter my ether wallet I use to login the private key and not the combination of the password with file.
is using the compination better and more secure? is it much harder to steel that file ( downloaded from computer) as steel the privat key. is it easier to catch a privat key then download a file from hacked computer.
So I should use this compination and not using my privat key so much?

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