Just bought bitcoin using Coinbase, need help with paper wallet please

saddambitcoin

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Quote from: enquirer on November 14, 2013, 02:37:02 AM

Quote from: saddambitcoin on November 14, 2013, 02:29:02 AM

Quote from: tmzn32 on November 14, 2013, 12:58:42 AM

but first send the bitcoins to that randomly generated key? Couldnt someone randomly generate that key and have access to my wallet?

the chances of a random address collision are very very slim. search for it.

personally i generate my paper wallets using bitaddress.org on an offline computer booted from a linux live CD but that's just how it was done in 2012. so much easier now, haha.

How can you access bitaddress.org on an offline computer? And doesn't bitaddress.org owner then know your private key?

i boot tails and access the site, then disable internet connection. then generate new addresses, print and turn off the computer. bitaddress.org does everything in your browser no info given to the site. it is open source so you can be confident others have reviewed the code.

nahtnam

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nahtnam.com

Quote from: enquirer on November 14, 2013, 02:35:20 AM

Quote from: nahtnam on November 14, 2013, 12:33:47 AM

Its very simple. Login to coinbase, press account setting, integrations, and then create a paper wallet. Then simply print the page given to you. If you dont have a printer then write everything down, and take a screenshot of the page!

But then coinbase knows your private key.

Well you trust them with your bank account info so I'm sure you trust them with your private keys. Personally I don't care if coinbase knows my private keys as long as they don't misuse it. Also you should contact them and ask if they do store your private keys. There is a chance that they might not.

enquirer

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Quote from: saddambitcoin on November 14, 2013, 02:29:02 AM

Quote from: tmzn32 on November 14, 2013, 12:58:42 AM

but first send the bitcoins to that randomly generated key? Couldnt someone randomly generate that key and have access to my wallet?

the chances of a random address collision are very very slim. search for it.

personally i generate my paper wallets using bitaddress.org on an offline computer booted from a linux live CD but that's just how it was done in 2012. so much easier now, haha.

How can you access bitaddress.org on an offline computer? And doesn't bitaddress.org owner then know your private key?

enquirer

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Activity: 306

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Quote from: nahtnam on November 14, 2013, 12:33:47 AM

Its very simple. Login to coinbase, press account setting, integrations, and then create a paper wallet. Then simply print the page given to you. If you dont have a printer then write everything down, and take a screenshot of the page!

But then coinbase knows your private key.

camalolo

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Quote from: tmzn32 on November 14, 2013, 12:58:42 AM

but first send the bitcoins to that randomly generated key? Couldnt someone randomly generate that key and have access to my wallet?

The odds someone generates a private key that you already generated (i.e. key collision) are so low that you don't need to worry about it

Check this for more info : http://bitcoin.stackexchange.com/questions/7724/what-happens-if-your-bitcoin-client-generates-an-address-identical-to-another-pe

Cheers

saddambitcoin

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Activity: 1610

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Quote from: tmzn32 on November 14, 2013, 12:58:42 AM

but first send the bitcoins to that randomly generated key? Couldnt someone randomly generate that key and have access to my wallet?

the chances of a random address collision are very very slim. search for it.

personally i generate my paper wallets using bitaddress.org on an offline computer booted from a linux live CD but that's just how it was done in 2012. so much easier now, haha.

nahtnam

legendary

Activity: 1092

Merit: 1000

nahtnam.com

Quote from: tmzn32 on November 14, 2013, 12:58:42 AM

but first send the bitcoins to that randomly generated key? Couldnt someone randomly generate that key and have access to my wallet?

I don't understand what you mean. No one can easily replicate a private key.

zeetu

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Check out the guide here: https://blockchain.info/wallet/paper-tutorial

tmzn32

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but first send the bitcoins to that randomly generated key? Couldnt someone randomly generate that key and have access to my wallet?

nahtnam

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Activity: 1092

Merit: 1000

nahtnam.com

Its very simple. Login to coinbase, press account setting, integrations, and then create a paper wallet. Then simply print the page given to you. If you dont have a printer then write everything down, and take a screenshot of the page!

tmzn32

member

Activity: 93

Merit: 10

Hey everyone, I just bought my first bitcoin with coinbase. I got a free $5 worth of coin, but have to wait 4 days for the rest. Anyways, I want to test the $5 worth using the paper wallet so I can keep it offline without any risk. Am I able to write it down, save it somewhere like my safe, and thats it? Do I need a printer? Anyone with a step by step guide? I can really use some help. Thanks!

Topic: Just bought bitcoin using Coinbase, need help with paper wallet please (Read 1129 times)