Topic: Tips for cold storage? (Read 3101 times)
A lot of replies here, let me give you the best option, for a large quantity of coins forget the trouble of paper wallets, cold offline storage, I am sure you can buy a hardware wallet, I recommend trezor , but if you want a cheap one even Ledger Nano does the job for just 20 USD. If I had large quantity of coins over 10-15 I would buy one.
Why dont you try paper wallet.They are more secure unless you live in a disaster prone area.
You can create one at blockchain for free.
You can create one at blockchain for free.
Paper wallet has always been my best bet.
Hardware wallets really are kinda taking over in some aspects. They will never take over paper wallets completely, but a hardware wallet that can send even if using on compromised computer like Trezor and still be secure... is impressive.
Paper wallets are great long term storage but when you load a paper wallet into a wallet and use it, is when you have some possible security risks.
Why dont you try paper wallet.They are more secure unless you live in a disaster prone area.
You can create one at blockchain for free.
You can create one at blockchain for free.
Paper wallet has always been my best bet.
I think they stopped producing them but they are still available via Amazon etc...
Mycelium had a USB stick on the market that generates images of paper wallets when inserted in the USB slot of a printer.
The printer sees it as a regular USB stick that has the image of the wallet on it, with QR codes etc... Should be totally cold that way.
https://mycelium.com/entropy
Mycelium had a USB stick on the market that generates images of paper wallets when inserted in the USB slot of a printer.
The printer sees it as a regular USB stick that has the image of the wallet on it, with QR codes etc... Should be totally cold that way.
https://mycelium.com/entropy
The best option and most secure is a paper wallet.
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
Paper wallet its not best option because paper wallet susceptible to water and also easily lost. You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
I think better using usb stick or hardware wallet like Trezor not easily lost and more faster to use.
Why dont you try paper wallet.They are more secure unless you live in a disaster prone area.
You can create one at blockchain for free.
You can create one at blockchain for free.
I thought a seed was a paper wallet, no?
Technically the Trezor really depends on how many coins you hold. For a wallet of 1 or 2 yes very high. But if a decent sized holder it really is not horrible.
And I would get the private key. With the private key you can put it in most any wallet. And really paper wallets even if laminated do not withstand fires, so I would not just keep copies in home as if something bad happens... it could burn with the home which would be horrible ontop of horrible. If you have a safety deposit box at a bank that is best spot for paper wallet.
The best option and most secure is a paper wallet.
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
Paper wallet its not best option because paper wallet susceptible to water and also easily lost. You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
I think better using usb stick or hardware wallet like Trezor not easily lost and more faster to use.
Why dont you try paper wallet.They are more secure unless you live in a disaster prone area.
You can create one at blockchain for free.
You can create one at blockchain for free.
I thought a seed was a paper wallet, no?
Why dont you try paper wallet.They are more secure unless you live in a disaster prone area.
You can create one at blockchain for free.
You can create one at blockchain for free.
I thought a seed was a paper wallet, no?
The best option and most secure is a paper wallet.
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
nah it is not the best, there is the well known problem with the printer and their memory
i find usb much more secure, if you buy many of them, and much faster
and i would avoid webwallet like the plague, for anything really...
The best option and most secure is a paper wallet.
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
Blockchain.info stores your private key on their server and hence isn't secure. Encrypted or not.You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
Instead, try downloading bitaddress.org. They offer userfriendly UI and secure generation. The paper wallets also have a Qr code on it. It is more convenient when using it with mobile wallets.
The best option and most secure is a paper wallet.
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
If you make the paper wallet from blockchain it kinda defeats the purpose. Blockchain is a hot wallet.... so getting the wallet there for the cold wallet is not the best idea.
There are much better way's to get paper wallets. Do not get them from a hot wallet or you still have all the security risks of the hot wallet you got the private key from (in your suggestion this would be blockchain).
The best option and most secure is a paper wallet.
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
You can make one via many websites, eg blockchain.info
Cheers
LondonTrader
Don't I have to type in the address somewhere along with the private key? Or the address automatically gets imported.
Thanks for all the info though.
Thanks for all the info though.
Public keys are easily calculated from private keys. Private keys are nearly impossible to calculate with the public key (brute force very large key space required). One of the great reasons Bitcoin works!
Just for clarity, a bitcoin address is not the same as a public key.
Don't I have to type in the address somewhere along with the private key? Or the address automatically gets imported.
Thanks for all the info though.
Thanks for all the info though.
Public keys are easily calculated from private keys. Private keys are nearly impossible to calculate with the public key (brute force very large key space required). One of the great reasons Bitcoin works!
I had one paper wallet created as an offline wallet. I know how to import it on blockchain.info. Can anyone tell me that how can i import that address, along with private key to bitcoind on Ubuntu using command line?
If your wallet has a password, use this to unlock it.Code:
(space)bitcoind walletpassphrase yourpassphrase 120
Code:
(space)bitcoind importprivkey "5PRIVATEKEYYYYYY" "LABEL"
You have to unfortunately type the entire private key word by word, it must also be case sensitive.
Thanks for all the info though.
I had one paper wallet created as an offline wallet. I know how to import it on blockchain.info. Can anyone tell me that how can i import that address, along with private key to bitcoind on Ubuntu using command line?
If your wallet has a password, use this to unlock it.Code:
(space)bitcoind walletpassphrase yourpassphrase 120
Code:
(space)bitcoind importprivkey "5PRIVATEKEYYYYYY" "LABEL"
You have to unfortunately type the entire private key word by word, it must also be case sensitive.
Thanks for all the info though.
I had one paper wallet created as an offline wallet. I know how to import it on blockchain.info. Can anyone tell me that how can i import that address, along with private key to bitcoind on Ubuntu using command line?
If your wallet has a password, use this to unlock it.Code:
(space)bitcoind walletpassphrase yourpassphrase 120
Code:
(space)bitcoind importprivkey "5PRIVATEKEYYYYYY" "LABEL"
You have to unfortunately type the entire private key word by word, it must also be case sensitive.
hardware wallets are an option but i would not go for these if i were you, if you want to store for long time the of course not they are good flash drives but still flash drive which can be currepted and after all its an electronic device it can fail, paper wallet is they way to go
If you're going to store Bitcoins for long term, you need multiple copies of it with layers of protection to prevent any damage to it. IMO, hardware wallets are great for frequent use as it is hard to get infected compared to spending from a paper wallet.there are some good paper to use and good printer still multiple copies are more efficient its all depend on what are you storing how much it is ofcourse if you are storing 100 BTC then spending 0.5 BTC for it will not hurt anything
So I grabbed a few BTC and I want to put them into cold storage for a while. I have been browsing and I think that a wallet that gives me a 12 word seed phrase would be best. I am thinking about Electrum. Would you guys agree or do you have any better (if possible free) alternatives?
Thank you!
Thank you!
a hardware wallet is good too:
https://bitcointalksearch.org/topic/overview-bitcoin-hardware-wallets-secure-your-coins-899253
Is there somewhere in the forum like this for all the different wallet types. I thought I had a pretty good understanding about how to set-up a paper wallet, but after reading this I'm not so sure. Basically what I would be looking for is these are all your options for a hardware/hot/cold/etc wallet. These are the pro's and cons. These are the recommended options. This is one example of how to set up your hardware/hot/cold/etc wallet. Maybe something like this is a bitcoin wallet best practice procedure. Or does everyone differ too much to have a best practice bitcoin wallet system?
I had one paper wallet created as an offline wallet. I know how to import it on blockchain.info. Can anyone tell me that how can i import that address, along with private key to bitcoind on Ubuntu using command line?
hardware wallets are an option but i would not go for these if i were you, if you want to store for long time the of course not they are good flash drives but still flash drive which can be currepted and after all its an electronic device it can fail, paper wallet is they way to go
If you're going to store Bitcoins for long term, you need multiple copies of it with layers of protection to prevent any damage to it. IMO, hardware wallets are great for frequent use as it is hard to get infected compared to spending from a paper wallet. Jump to: