electrum no need to synchrone wallet
Yes but Bitcoin core is the best apart from the synchronization issues many have but if you can have excess Hard drive space and constant internet connection then I'd recommend Bitcoin core wallet.
Topic: How to setup offline bitcoin wallet (Read 657 times)
Yes but Bitcoin core is the best apart from the synchronization issues many have but if you can have excess Hard drive space and constant internet connection then I'd recommend Bitcoin core wallet.
Hi Guys could you please suggest me on below things
1)How to setup offline bitcoin wallet
2)which is the best way and best software to install to create offline wallet.
1)How to setup offline bitcoin wallet
2)which is the best way and best software to install to create offline wallet.
What for, how much Bitcoin do you have. If you have a bunch of bitcoin I would recommend using cold storage which is super safe. Cold storage is a form of storing your Bitcoin offline which is what you are talking about here.
Some types of offline storage or cold storage include:
1. Storing your Bitcoin on a USB drive or a hardware wallet, some hardware wallets include ledger wallet and Trevor.
2. Using a paper wallet which is a document that contains all your information Bitcoin related, passwords private keys etc.
3. Physical items such as physical bitcoin.
electrum no need to synchrone wallet
edit: Meuh6879, you didn't understand the question.
Offline wallet ... offline ?!?
You can not emit transactions with an offline thing (harware wallet are connected to internet to emit transaction ... script from an extension at minimal level).
COLD Storage is a backup of a wallet ... not an offline thing.
You NEED an online software (local or others) to use the COLD Storage wallet and emit transactions.
"Cold storage in the context of Bitcoin refers to keeping a reserve of Bitcoins offline. This is often a necessary security precaution, especially dealing with large amounts of Bitcoin."
@Kprawn
Buying a second hand computer to create an offline address is not very secure.
Here is a good guide that I wrote a while ago:
https://bitcointalksearch.org/topic/m.16944426
Quote
I do it like this:
- Download the latest Tails OS: https://tails.boum.org/index.en.html
- Download latest Bitcoin Core: https://bitcoin.org/en/choose-your-wallet
- Download the latest GPG4USB: https://www.gpg4usb.org/download.html
Verify the downloads, burn Tails on DVD, put Bitcoin Core and GPG4USB on a clean USB
then
1. Start a computer with the TailsOS (Higher sec: randomly buy a new and packed computer and USB stick for that) and disable your network and WLAN card.
2. Start GPG4USB and create a new keypair with a strong password. Export your GPG private key and save the file on your USB
3. Start Bitcoin core and create a new wallet. Copy the public wallet address to a textfile and save it on your USB (or write it down, if you don't want your public address being digitalized). Encrypt the wallet within Bitcoin Core with another password.
4. Encrypt the ~/.bitcoin/wallet.dat file with your new GPG keypair and copy the GPG encrypted file to the USB stick. Check back, if you can decrypt both, Bitcoin wallet and GPG file. Always remember: If you later lose your wallet file and/or can't remember your passwords, you lose everything in that wallet.
5. Shutdown
You can now send funds to the public address of your offline wallet.
- Download the latest Tails OS: https://tails.boum.org/index.en.html
- Download latest Bitcoin Core: https://bitcoin.org/en/choose-your-wallet
- Download the latest GPG4USB: https://www.gpg4usb.org/download.html
Verify the downloads, burn Tails on DVD, put Bitcoin Core and GPG4USB on a clean USB
then
1. Start a computer with the TailsOS (Higher sec: randomly buy a new and packed computer and USB stick for that) and disable your network and WLAN card.
2. Start GPG4USB and create a new keypair with a strong password. Export your GPG private key and save the file on your USB
3. Start Bitcoin core and create a new wallet. Copy the public wallet address to a textfile and save it on your USB (or write it down, if you don't want your public address being digitalized). Encrypt the wallet within Bitcoin Core with another password.
4. Encrypt the ~/.bitcoin/wallet.dat file with your new GPG keypair and copy the GPG encrypted file to the USB stick. Check back, if you can decrypt both, Bitcoin wallet and GPG file. Always remember: If you later lose your wallet file and/or can't remember your passwords, you lose everything in that wallet.
5. Shutdown
You can now send funds to the public address of your offline wallet.
You better make tests with small amounts to make sure everything is working, before you lose everything.
I presume that you are referring to cold storage {paper wallets}? I went a bit overkill with my method, but I know my paper wallets are secure.
Go to a second hand shop and buy a old outdated computer or notebook and a small printer. {DO NOT connect them to the internet} Then go to
another computer that are connected to the internet and type this in your browser - https://www.bitaddress.org { Once the page has loaded,
go to the settings of the browser and save the whole webpage as HTML somewhere on your harddrive or directly onto a memory stick. Transfer
what you have saved on the memory stick onto the computer/notebook that you have bought. Execute the script for that page on that computer
and create as much paper wallets as you want. DO NOT go onto the internet with that computer and printer ever again. {extreme measures might
be to physically destroy the harddrive, after you created and printed the paper wallets} Some data are logged and buffered on the printer.
Go to a second hand shop and buy a old outdated computer or notebook and a small printer. {DO NOT connect them to the internet} Then go to
another computer that are connected to the internet and type this in your browser - https://www.bitaddress.org { Once the page has loaded,
go to the settings of the browser and save the whole webpage as HTML somewhere on your harddrive or directly onto a memory stick. Transfer
what you have saved on the memory stick onto the computer/notebook that you have bought. Execute the script for that page on that computer
and create as much paper wallets as you want. DO NOT go onto the internet with that computer and printer ever again. {extreme measures might
be to physically destroy the harddrive, after you created and printed the paper wallets} Some data are logged and buffered on the printer.
edit: Meuh6879, you didn't understand the question.
Offline wallet ... offline ?!?
You can not emit transactions with an offline thing (harware wallet are connected to internet to emit transaction ... script from an extension at minimal level).
COLD Storage is a backup of a wallet ... not an offline thing.
You NEED an online software (local or others) to use the COLD Storage wallet and emit transactions.
i am all for telling others to run a full node but you don't need a full node for "broadcasting" a transaction to bitcoin network. there are so many easier and newbie friendlier ways.
and i actually think using core as a cold storage is much complicated than using eletrum (which is an SPV wallet).
I would just create a paper wallet to store the coins, and when you are ready to send import the private key into blockchain.info wallet.
sir, PC need connection /not ?
and If power fails,Maybe bitcoin will be lost?
and If power fails,Maybe bitcoin will be lost?
1) Yes for the first synchro. (48h) and Yes if you want receive and emit transaction.
No, if you want store bitcoins (well, privates keys ...).
You can generate a file (wallet.dat) and store it in an USB key.
In the future, re-install the Bitcoin Core, load the Wallet.dat and done : you have bitcoins and you can emit/receive funds (well, you can receive fund without it).
2) No.
If you don't have a backup of Wallet.dat = Yes if HDD fail.
edit: Meuh6879, you didn't understand the question.
Offline wallet ... offline ?!?
You can not emit transactions with an offline thing (harware wallet are connected to internet to emit transaction ... script from an extension at minimal level).
COLD Storage is a backup of a wallet ... not an offline thing.
You NEED an online software (local or others) to use the COLD Storage wallet and emit transactions.
sir, PC need connection /not ? and If power fails,Maybe bitcoin will be lost?
https://en.bitcoin.it/wiki/Cold_storage
https://en.bitcoin.it/wiki/Securing_your_wallet
edit: Meuh6879, you didn't understand the question.
https://en.bitcoin.it/wiki/Securing_your_wallet
edit: Meuh6879, you didn't understand the question.
Hi Guys could you please suggest me on below things
1)How to setup offline bitcoin wallet
2)which is the best way and best software to install to create offline wallet.
1)How to setup offline bitcoin wallet
2)which is the best way and best software to install to create offline wallet.
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