Author

Topic: In search of reliable cold wallet (Read 1391 times)

legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
May 02, 2017, 03:26:27 PM
#10
We have not heard back from the OP since his initial post on this thread.  His definition of "cold" needs to be clarified.  For several years I used Electrum COLD wallets on two computers.

Why would I move cold coins was asked above?  Cold comes in many flavors.  My application was that the private keys were kept "cold" in the sense they were never exposed to an online connection.  That definition works perfectly for me, and using this approach I could move coins every few days without a hassle if I needed/wanted to.  The Electrum two computer approach is a true cold wallet.  Now that definition might be a stretch for someone wanting to place coins in absolute isolation for a few years.  The Electrum approach would still fully work, but those folks tend to want a paper wallet hidden in a vault.  LOL!!  As my operation and needs grew I wanted to be able to execute multiple transactions a day.  Now the two computer Electrum approach became a chore.  What to do?  To remain "cold" with the keys as per my original definition of the term, I transitioned to hardware wallets and Electrum.  Private keys are fully "cold" (within Trezors) but my transactions can be fully conducted on a mobile computer system while online.  That is the way  it "morphed" on my end.

i getcha.  my setup is a lot simpler.  most of my coins just stay cold and im willing to leave a portion of them hot.
hero member
Activity: 761
Merit: 606
May 02, 2017, 03:19:59 PM
#9
We have not heard back from the OP since his initial post on this thread.  His definition of "cold" needs to be clarified.  For several years I used Electrum COLD wallets on two computers.

Why would I move cold coins was asked above?  Cold comes in many flavors.  My application was that the private keys were kept "cold" in the sense they were never exposed to an online connection.  That definition works perfectly for me, and using this approach I could move coins every few days without a hassle if I needed/wanted to.  The Electrum two computer approach is a true cold wallet.  Now that definition might be a stretch for someone wanting to place coins in absolute isolation for a few years.  The Electrum approach would still fully work, but those folks tend to want a paper wallet hidden in a vault.  LOL!!  As my operation and needs grew I wanted to be able to execute multiple transactions a day.  Now the two computer Electrum approach became a chore.  What to do?  To remain "cold" with the keys as per my original definition of the term, I transitioned to hardware wallets and Electrum.  Private keys are fully "cold" (within Trezors) but my transactions can be fully conducted on a mobile computer system while online.  That is the way  it "morphed" on my end.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
May 02, 2017, 02:25:29 PM
#8
Greetings,
Can anyone refer me to reliable, quick downloadable cold wallet similar to Electrum. I have an older computer
so consequently bitcoin QT will take about 2 weeks to download (I had one before)...I hope from you very
soon!!!

Best regards,

As mentioned above, many wallets are secure.  Electrum is my favorite.  One thing, which we the responders don't know, is how often will you need to move your coins.  Paper wallets are very unfriendly if you frequently move coins.  Lot of folks use a cold wallet with Electrum that move coins every few days.  With two computers its not too tough, but if you move them often get a hardware wallet and forget all the hassle of juggling offline and online machines.  All depends upon how often you need access.  Let us know.

Security notice to you:  there is no such thing as a safe "cold wallet" if you are using any computer (cold wallet on it) that has an online connection.  I am a security professional and that is a notion you will live to regret unless you are very good.

Why would you bother to move cold coins?
hero member
Activity: 761
Merit: 606
April 27, 2017, 05:18:50 PM
#7
Greetings,
Can anyone refer me to reliable, quick downloadable cold wallet similar to Electrum. I have an older computer
so consequently bitcoin QT will take about 2 weeks to download (I had one before)...I hope from you very
soon!!!

Best regards,

As mentioned above, many wallets are secure.  Electrum is my favorite.  One thing, which we the responders don't know, is how often will you need to move your coins.  Paper wallets are very unfriendly if you frequently move coins.  Lot of folks use a cold wallet with Electrum that move coins every few days.  With two computers its not too tough, but if you move them often get a hardware wallet and forget all the hassle of juggling offline and online machines.  All depends upon how often you need access.  Let us know.

Security notice to you:  there is no such thing as a safe "cold wallet" if you are using any computer (cold wallet on it) that has an online connection.  I am a security professional and that is a notion you will live to regret unless you are very good.
sr. member
Activity: 504
Merit: 250
April 20, 2017, 05:43:57 PM
#6
My recommendation would be to create a cold paper wallet. It’s pretty easy, all you’d need is a live Linux CD, an offline copy of walletgenerator.net, and a thumb drive.

Just copy the walletgenerator.net files to the thumb drive, boot up the Live CD, run walletgenerator.net and save/print the results (be sure to use Bip32 if you choose to save it as a file). Voila, you have a cold paper wallet and it didn’t cost you anything.
legendary
Activity: 1512
Merit: 1012
April 15, 2017, 06:00:23 AM
#5
I assume you want a cold wallet in which it's online counterpart does not require a full blockchain. If so, what you have is (probably) already the best for you. Do you have any specific issues with Electrum?
legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
April 13, 2017, 08:55:23 AM
#4
A cold wallet is supposed to be used for long term storage and not for daily uses. You could use any wallet that actually give you the ability to export the private keys, put them in a word file and simply print them and store them. Bitcoin-qt could create addresses and receive funds without the need of downloading the while blockchain btw (you need to wait for the sending though).
You actually don't need the blockchain for anything related to sending the Bitcoin if you have an unsigned transaction with the addresses in inputs in your wallet. You can use another program to sign the transaction if you want. Electrum offers this in their UI so thats way easier.


Just to add on, there is really no such thing as the 'best' cold storage wallet. No one does it better than Electrum and Armory. Just create and use the wallet on an offline wallet with a fresh OS.
staff
Activity: 3500
Merit: 6152
April 13, 2017, 08:26:18 AM
#3
A cold wallet is supposed to be used for long term storage and not for daily uses. You could use any wallet that actually give you the ability to export the private keys, put them in a word file and simply print them and store them. Bitcoin-qt could create addresses and receive funds without the need of downloading the while blockchain btw (you need to wait for the sending though).
legendary
Activity: 3472
Merit: 10611
April 12, 2017, 12:28:51 AM
#2
~ bitcoin QT will take about 2 weeks to download

you do realize that a cold storage means you don't download anything apart from the wallet installation file itself.

i would always suggest Electrum as it is safe and easy to work specially for those who want a more user friendly interface. http://docs.electrum.org/en/latest/coldstorage.html

but here is another option to create a paper wallet:
https://www.bitaddress.org
member
Activity: 96
Merit: 20
April 11, 2017, 09:58:50 PM
#1
Greetings,
Can anyone refer me to reliable, quick downloadable cold wallet similar to Electrum. I have an older computer
so consequently bitcoin QT will take about 2 weeks to download (I had one before)...I hope from you very
soon!!!

Best regards,
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