Topic: What Is The Best Way To Store Your Bitcoins Offline? - page 2. (Read 862 times)

I read somewhere that there there were some issue with a hardware wallet, I don't remember which hardware wallet was it, but I think it was trezor.

You should not use an outdated version of Electrum. You will have problems sending and fee estimates will be too low. Newest is 2.8.3 at Electrum.org. Electrum explains how to use two computers (one always offline) for cold storage here. Almost no one bothers with this setup anymore since hardware wallets are more secure and inexpensive. Get a hardware wallet.

This topic will usefull too
https://bitcointalksearch.org/topic/safest-way-to-store-your-bitcoins-1911604

Yes. It's safe to create a wallet without being fully synced. Also, it would be better to use the latest version of Core.

You can fully trust Electrum. First, you are offline anyway, so you wouldn't have any problems on Electrum sending your private-key over the internet. The problem with old versions is always any security issue or critical bugs. Do some research to see if the version is functional and you will be ok. But always, it's better if you just use the latest version.

That's the best and safest I can think off: https://www.bitaddress.org/
You can even download their source and generate an paper wallet with your self-hosted script: https://github.com/pointbiz/bitaddress.org

I will make sure to update this post using your suggestions that you post here. I want to make sure that this post is a reference to all new bitcoin users who want the best way to secure their new bitcoins.

I've made some big profits recently trading/flipping coins and i want to cash out and convert this profit to bitcoin, but I'm not sure how to store the new bitcoins safely.

I have some ideas about securing my bitcoins, but I'm not sure if they are good enough. I'm only interested in ways to store my bitcoins securely so if it even means that I will not be able to spend them easily, that's fine because I'm planning to keep them in cold store for a very long time, since I'm buy nature a bitcoin HODLer.

I have an old laptop that I'm no longer using, so it's okay to use it for just Bitcoin. I don't want to use a hardware wallet like trezor or other similar wallets.

1) Download the Bitcoin core wallet on my old laptop and create a lot of bitcoin addresses, back-up the wallet into multiple CDs, copy those addresses on a USB stick and transfer them to my Desktop computer that has an internet connection. This way I'm able to fund those Bitcoin addresses without having the private keys or the wallet.dat file on an online computer.

Note that I won't be able to let the computer to fully sync with the network, so is it safe to create multiple Bitcoin address this way even if it the Bitcoin-core hasn't fully Synced yet? Also is it safe to use old versions of Bitcoin-core like version 0.11.1 ?

2) Instead of Bitcoin core, I will use Electrum on this offline laptop and do the same thing as above. The problem here, is can I trust Electrum? and also I will be using an old version of electrum 1.9.8, so is it to use this old version?

3) Download a paper wallet script and use it to generate multiple address, store these addresses and their private keys in multiple CDs and copy the addresses to a USB stick to transfer the addresses to my desktop computer so I can send my earned bitcoins there. My question is, which paper wallet script should I use and can I really trust it?


I will update this post to make sure that contains all information for anyone who's wondering about securing his bitcoins offline.