Cold storage just means storing your private keys (wallet) on a non-networked media (paper, usb key, etc.). You can do that with any Bitcoin client but clients which support deterministic keys make it easier. I recommend you create an Electrum wallet and write down its seed phrase on a piece of paper and save its "master public key" somewhere on your computer. You can then delete the wallet from your computer and put that piece of paper in a safe place (and possibly make copies of it in different locations).
You can then use the "master public key" to create a watch only wallet and receive transactions. Even if your computer gets hacked, a master public key does not have the power to spend anything, it can only watch for transactions.
A bit of self promotion: I've built a service which allows people to watch their cold wallet online (Electrum Master Public Keys are supported): https://coldmonitor.com. One planned feature is to send SMS notifications when transactions happen in your wallet.
Topic: Bitcoind / cold storage how it's work (Read 518 times)
Hello everyone.
I have bitcoind 9.0.1 installed on my VPS server i can accept incoming payments/ send coins to address etc so my bitcoind is configured correctly. I would like to store my bitcoind's wallet coins in "cold storage". I read a lot of articles over internet. But unfortonetly I do not understand the essence of cold storage.
I read about this application
https://www.bitaddress.org/bitaddress.org-v2.9.3-SHA1-7d47ab312789b7b3c1792e4abdb8f2d95b726d64.html , but i don't understand how can i send/export coins into that generated "paper"
How can i send coins from my bitcoind wallet to a "paper physical wallet"
I have bitcoind 9.0.1 installed on my VPS server i can accept incoming payments/ send coins to address etc so my bitcoind is configured correctly. I would like to store my bitcoind's wallet coins in "cold storage". I read a lot of articles over internet. But unfortonetly I do not understand the essence of cold storage.
I read about this application
https://www.bitaddress.org/bitaddress.org-v2.9.3-SHA1-7d47ab312789b7b3c1792e4abdb8f2d95b726d64.html , but i don't understand how can i send/export coins into that generated "paper"
How can i send coins from my bitcoind wallet to a "paper physical wallet"
Jump to: