Setting up a cold storage - page 2. | Bitcointalksearch.org

dkbit98

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Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

I've been planning on switching to a cold storage format to keep my coins but I want it to be in a way of watch only wallet from my mobile where I can initiate my transactions . I'm currently thinking of using my old PC apart from the one I'm currently using, but I don't know how safe it is maybe I should just switch to Linux becaus it's windows , the Pc is around 2GB Ram I don't think I can upgrade that don't know if it will work for Linux or can I just use the Windows just that I've installed alot of games you know still so small to realise all those shit

I generally don't recommend doing this if you are a newbie and if you are not experienced in installing operating systems from scratch.
In case you have some basic knowledge that you can proceed with formatting hard drive and installing Linux OS like Debian, Fedora or Linux Mint.
After that it's easy to install Electrum wallet and remove all cards for internet connections from your laptop computer.
If you want easier and safer (for newbies) solution than I would recommend using open source hardware wallet instead.

BitcoinBarrel

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Just generate and print a Paper Wallet offline. It's pretty much that simple.

You can use an open source paper wallet generator:

https://www.walletgenerator.com/

Nothing more secure than having an offline paper wallet. You can backup your keys after that however you wish.

Findingnemo

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Quote from: m2017 on August 20, 2024, 10:28:13 AM

Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

In short, I need complete guide towards the set up

Do you know how to use the Internet?

It's not just anyone who has the knowledge of browsing can set up proper cold storage so asking for all the necessary steps is a valid question.

To answer his question yes 2GB is enough to run Linux but if it has more ram slots than adding another 2GB can be better. People already given the necessary details about how to setup the cold storage while the alternative can be HW.

Here one of it : BlockStream Jade which is definitely cheaper than most of the HW but it supports only BItcoin and I guess OP is looking for Bitcoin only wallet so if he can buy from the official site from his place then it can be a good choice.

m2017

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Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

I'm currently thinking of using my old PC apart from the one I'm currently using,

This is not a bad solution if you take a few precautions, such as not having internet access on your PC.

Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

but I don't know how safe

It will be as safe as you make it in terms of computer security (OS, internet access, passwords, etc.).

Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

it is maybe I should just switch to Linux becaus it's windows ,

That would be a good solution, since you mentioned it, I think you should first learn more about the new OS (settings, management).

Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

the Pc is around 2GB Ram I don't think I can upgrade

Technically, this may have limitations, but even so, you can get a slightly more modern PC for very little money. If you have money to invest, then finding it to upgrade your PC should not be a problem.

Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

that don't know if it will work for Linux

It will, because there are Linux distributions that are not demanding on the PC power, created specifically for weak (old) devices.

Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

In short, I need complete guide towards the set up

Do you know how to use the Internet?

tranthidung

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Quote from: KiaKia on August 20, 2024, 04:58:05 AM

To avoid unnecessary issues in the future it's best if you find some money and buy a hardware wallet, you will have confidence to sleep at night and stop worrying not to do something wrong.

Hardware wallets are good to use but there are open source and close source hardware wallets and we should pick open source hardware wallets only.

Newbies are welcome to check my thread for Open source hardware wallet list and more.
Mega resources for newbies
LIST Open Source Hardware Wallets
[GUIDE] How to buy a Hardware Wallet the right way

KiaKia

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Watch only idea requires your wallet address only, you can use trust wallet for this, you will see watch only option available.

The cold wallet idea sounds like something I am not liking, because I don't know the level of your IQ to tell you to go ahead with the idea, I know two friends who have messed up creating a cold storage so in the end they had to order for a hardware wallet.

To avoid unnecessary issues in the future it's best if you find some money and buy a hardware wallet, you will have confidence to sleep at night and stop worrying not to do something wrong.

I know that people creates and use cold storage they made themselves, but I can only trust myself, I won't recommend the same for beginners, because this idea isn't for everyone.

Cricktor

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I don't see the necessity to use a Linux distro heavyweight like Ubuntu for cold storage. Better suggestions have been given here already. Remember that cold storage of a wallet containing private keys means it is offline and stays offline basically forever.

You don't need fancy stuff installed. You need the bare minimum to operate und use the wallet of your choice to sign PSBTs transfered from your watch-only wallet. Only the watch-only wallet on your mobile or other online device(s) communicates and touches the evil internet.

Proper, safe and redundant backup of your mnemonic recovery words and what other details about your wallet are helpful for any later recovery is mandatory. Personally, I would also setup a fully encrypted filesystem for the cold storage, so that a possible theft of the cold storage device doesn't compromise your private keys. Of course, don't ever loose the filesystem's encryption passphrase. Redundant and safe backup for it is key, too!

AprilioMP

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Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

I've been planning on switching to a cold storage format to keep my coins but I want it to be in a way of watch only wallet from my mobile where I can initiate my transactions . I'm currently thinking of using my old PC apart from the one I'm currently using, but I don't know how safe it is maybe I should just switch to Linux becaus it's windows , the Pc is around 2GB Ram I don't think I can upgrade that don't know if it will work for Linux or can I just use the Windows just that I've installed alot of games you know still so small to realise all those shit
In short, I need complete guide towards the set up

2GB of RAM is too small to use even though it can still be used. My advice, delete all files that were previously installed on the PC. Leave everything for the intended storage.
For a wallet that you can control on your phone, use Electrum. There is a link provided on how to create a cold storage wallet on Electrum and I think it will be useful for you.

tabas

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I did this a long time ago with my old laptop before it broke down and while I'm contemplating buying a hardware wallet. Aside from the tips above OP, make sure that it is only you that have access to your laptop. Don't install any unnecessary software or program or pretty much stick to electrum as the only software(wallet) that's installed there. As you save the seeds/private keys, do not forget to write a back up for it that you'll keep on a place that's not reachable by anybody but only you.

Upgrade00

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Quote from: BlackBoss_ on August 19, 2024, 11:22:35 PM

With a watch only wallet, you only can watch its balance and transaction history but you don't have access to its private keys so you can not broadcast any transactions from that Watch-only wallet.

You do not need the private keys to broadcast a transaction, you need them to sign it, what you need to broadcast transactions is internet connection which the watch-only wallet has.

They both complement each other;
• You create transactions with the watch only wallet,
• Take the raw tx file to the cold wallet and sign it,
• Return the signed tx to the watch-only wallet and broadcast it.

With this the private keys never go online.

Charles-Tim

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If it is an online wallet, open source operating system would have been better but it is a an airgapped device which is not online. To be airgapped means the WiFi and Bluetooth would have been removed. No means to go online with the device. So to be open source like Linux or close source like Windows does not matter as long as the device is airgapped. But use open source wallet like Electrum or Sparrow for it.

BlackBoss_

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Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

I've been planning on switching to a cold storage format to keep my coins but I want it to be in a way of watch only wallet from my mobile where I can initiate my transactions .

A cold wallet and a watch only wallet is different.

With a watch only wallet, you only can watch its balance and transaction history but you don't have access to its private keys so you can not broadcast any transactions from that Watch-only wallet.

With a cold wallet, you have access to private keys and you can make transactions from it.

Creating a watch-only wallet with Electrum
Creating a cold storage wallet in Electrum

hugeblack

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Debian or Xfce or Tails are the options that will work for you on that old computer and it is better to use Tails.

- Delete everything on the memory, delete Windows and make sure to format everything.
- Remove all the connecting parts from the network cable to the Bluetooth.
- burn Tails on your computer and use electrum to generate the addresses and MPK.
- Save the wallet seed on a piece of paper or a metal piece.
- import the MPK to the wallet on your phone.

You can find more information here or by searching on Google for tails electrum cold storage

https://electrum.readthedocs.io/en/latest/tails.html
https://www.youtube.com/watch?v=1e6IDTP3g5o

tech30338

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Quote from: Mee Sa on August 19, 2024, 07:56:20 PM

I've been planning on switching to a cold storage format to keep my coins but I want it to be in a way of watch only wallet from my mobile where I can initiate my transactions . I'm currently thinking of using my old PC apart from the one I'm currently using, but I don't know how safe it is maybe I should just switch to Linux becaus it's windows , the Pc is around 2GB Ram I don't think I can upgrade that don't know if it will work for Linux or can I just use the Windows just that I've installed alot of games you know still so small to realise all those shit
In short, I need complete guide towards the set up

first what flavors are you going to use, if you want to use ubuntu 4GB or ram is needed as a minimum requirement although you can run with 2GB of ram that would be only for terminal , but have not try that.
Try this link if this flavors are okay with you:
https://itsfoss.com/super-lightweight-distros/
Can you provide the model of the motherboard so that we can check if you can upgrade or add another 2gb of ram, since my best recommendation would be ubuntu, if you have better in mind you can also share it here so that we can give you feedback's.

Mee Sa

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I've been planning on switching to a cold storage format to keep my coins but I want it to be in a way of watch only wallet from my mobile where I can initiate my transactions . I'm currently thinking of using my old PC apart from the one I'm currently using, but I don't know how safe it is maybe I should just switch to Linux becaus it's windows , the Pc is around 2GB Ram I don't think I can upgrade that don't know if it will work for Linux or can I just use the Windows just that I've installed alot of games you know still so small to realise all those shit
In short, I need complete guide towards the set up

Topic: Setting up a cold storage - page 2. (Read 491 times)