What is the cold storage wallet? - page 2.

everaja

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Quote from: Phuminh on July 08, 2015, 10:59:36 AM

What is the cold storage wallet?

cold storage wallet keeps all the private-key data on the offline computer, only someone with physical access to the offline computer can can have access to the BTC stored in it.
in general cold storage wallet are offline wallets.

Quote from: Phuminh on July 08, 2015, 10:59:36 AM

How to do that?

Methods of cold storage include keeping bitcoins:

#1 On a USB drive or other data storage medium in a safe place (e.g. safe deposit box, safe)
#2 On a paper wallet
#3 On a bearer item such as a physical bitcoin.
#4 Online, but on encrypted media where the encryption key is offline.
#5 Use a offline Bitcoin Hardware wallet

notlist3d

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Quote from: Phix on July 10, 2015, 05:08:41 AM

Quote from: notlist3d on July 10, 2015, 05:03:43 AM

Quote from: Phix on July 10, 2015, 05:00:35 AM

Quote from: notlist3d on July 10, 2015, 04:57:18 AM

Quote from: Phix on July 10, 2015, 04:06:14 AM

if i have a paper wallet, how can i re-use it online? Huh

or what is a paper wallet??

You can put it in a wallet to use online. Normally it would be on a paper with private key/qr code. And yes it can be re-used. But I would spread money out not just in one.

Here is a example - https://blockchain.info/wallet/paper-tutorial

Thank you very much, i understood it now Cheesy

Great link.. cheers.

Not a problem best of luck with it. If you do one print it at home and on none networked printer if possible.

After make copies and make sure to keep them safe.

What if our printed paper is lost..?
We will loose all the coins? in it

If lost and you have no backup it is gone. You will not have access to it. This means don't loose them.

Store multiple in safe locations do not have just one.

Phix

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Quote from: notlist3d on July 10, 2015, 05:03:43 AM

Quote from: Phix on July 10, 2015, 05:00:35 AM

Quote from: notlist3d on July 10, 2015, 04:57:18 AM

Quote from: Phix on July 10, 2015, 04:06:14 AM

if i have a paper wallet, how can i re-use it online? Huh

or what is a paper wallet??

You can put it in a wallet to use online. Normally it would be on a paper with private key/qr code. And yes it can be re-used. But I would spread money out not just in one.

Here is a example - https://blockchain.info/wallet/paper-tutorial

Thank you very much, i understood it now Cheesy

Great link.. cheers.

Not a problem best of luck with it. If you do one print it at home and on none networked printer if possible.

After make copies and make sure to keep them safe.

What if our printed paper is lost..?
We will loose all the coins? in it

notlist3d

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Activity: 1456

Merit: 1000

Quote from: Phix on July 10, 2015, 05:00:35 AM

Quote from: notlist3d on July 10, 2015, 04:57:18 AM

Quote from: Phix on July 10, 2015, 04:06:14 AM

if i have a paper wallet, how can i re-use it online? Huh

or what is a paper wallet??

You can put it in a wallet to use online. Normally it would be on a paper with private key/qr code. And yes it can be re-used. But I would spread money out not just in one.

Here is a example - https://blockchain.info/wallet/paper-tutorial

Thank you very much, i understood it now Cheesy

Great link.. cheers.

Not a problem best of luck with it. If you do one print it at home and on none networked printer if possible.

After make copies and make sure to keep them safe.

Phix

member

Activity: 111

Merit: 10

Quote from: notlist3d on July 10, 2015, 04:57:18 AM

Quote from: Phix on July 10, 2015, 04:06:14 AM

if i have a paper wallet, how can i re-use it online? Huh

or what is a paper wallet??

You can put it in a wallet to use online. Normally it would be on a paper with private key/qr code. And yes it can be re-used. But I would spread money out not just in one.

Here is a example - https://blockchain.info/wallet/paper-tutorial

Thank you very much, i understood it now Cheesy

Great link.. cheers.

notlist3d

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Activity: 1456

Merit: 1000

Quote from: Phix on July 10, 2015, 04:06:14 AM

if i have a paper wallet, how can i re-use it online? Huh

or what is a paper wallet??

You can put it in a wallet to use online. Normally it would be on a paper with private key/qr code. And yes it can be re-used. But I would spread money out not just in one.

Here is a example - https://blockchain.info/wallet/paper-tutorial

Phix

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Activity: 111

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if i have a paper wallet, how can i re-use it online? Huh

or what is a paper wallet??

ikydesu

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Quote from: chaser15 on July 09, 2015, 12:44:13 PM

-snip-

I mean what's those private keys look like when stored in offline hard disk or USB's? Like a file ? So it have file extensions?

When you export the private key, the file is usually looks like "wallet.dat"

Quote from: chaser15 on July 09, 2015, 12:44:13 PM

Simple copying that "file" to other drive/usb can not became a backup? Or backup must do manually to other drive?

Thanks for the answer.

Just copying and save the file carefully, and you can import it, https://en.bitcoin.it/wiki/How_to_import_private_keys (actually it's easy step, just go to the wallet, find an import button and choose the file).

CMIIW.

chaser15

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Quote from: Muhammed Zakir on July 09, 2015, 12:39:31 PM

What goes?

Three ways are:

• Storing private keys in a completely offline hard disk and/or USB.
• Printing or writing down private keys.
• Memorize private key(s).

I mean what's those private keys look like when stored in offline hard disk or USB's? Like a file ? So it have file extensions?

Simple copying that "file" to other drive/usb can not became a backup? Or backup must do manually to other drive?

Thanks for the answer.

Muhammed Zakir

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Quote from: chaser15 on July 09, 2015, 12:35:42 PM

Quote from: Muhammed Zakir on July 09, 2015, 12:32:17 PM

Quote from: chaser15 on July 09, 2015, 12:23:55 PM

Quote from: Bitdonator on July 08, 2015, 05:54:51 PM

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

So what if the flash drive gone or got corrupted and you don't store any copy of backup in other drive? Does it retrievable?

Cold wallet is not "storing in a USB". Cold wallets means storing Bitcoins in a wallet which is not accessible connected to Internet(completely offline).

No. It is not retrievable but sometimes, you might be able to recover files from your USB stick. I highly recommend you to either create a second(digital) backup or print private keys.

PC > Offline Wallet (a file) > Flash Drive / Hard Drive > Is this how it goes? So it have a file extension? Damn sorry I have many questions. Sad

What goes?

Three ways are:

• Storing private keys in a completely offline hard disk and/or USB.
• Printing or writing down private keys.
• Memorize private key(s).

chaser15

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Quote from: Muhammed Zakir on July 09, 2015, 12:32:17 PM

Quote from: chaser15 on July 09, 2015, 12:23:55 PM

Quote from: Bitdonator on July 08, 2015, 05:54:51 PM

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

So what if the flash drive gone or got corrupted and you don't store any copy of backup in other drive? Does it retrievable?

Cold wallet is not "storing in a USB". Cold wallets means storing Bitcoins in a wallet which is not accessible connected to Internet(completely offline).

No. It is not retrievable but sometimes, you might be able to recover files from your USB stick. I highly recommend you to either create a second(digital) backup or print private keys.

PC > Offline Wallet (a file) > Flash Drive / Hard Drive > Is this how it goes? So it have a file extension? Damn sorry I have many questions. Sad

Muhammed Zakir

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Quote from: chaser15 on July 09, 2015, 12:23:55 PM

Quote from: Bitdonator on July 08, 2015, 05:54:51 PM

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

So what if the flash drive gone or got corrupted and you don't store any copy of backup in other drive? Does it retrievable?

Cold wallet is not "storing in a USB". Cold wallets means storing Bitcoins in a wallet which is not accessible connected to Internet(completely offline).

No. It is not retrievable but sometimes, you might be able to recover files from your USB stick. I highly recommend you to either create a second(digital) backup or print private keys.

chaser15

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Quote from: Bitdonator on July 08, 2015, 05:54:51 PM

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

So what if the flash drive gone or got corrupted and you don't store any copy of backup in other drive? Does it retrievable?

pooya87

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Quote from: Phuminh on July 08, 2015, 10:59:36 AM

Hi everyone

What is the cold storage wallet?

And how to do that?

Thanks in advance.

any wallet that is created on an offline computer (or any other way that does not require a computer) and is kept offline can be called a cold storage.
it is for keeping your bitcoin safe from malware and theft.
depending on what kind of cold storage you want to use, making one can be different. easiest in my opinion is using an always offline computer and generate a wallet with Electrum.
there are step by step tutorials of creating cold storage (different ones) on the internet if you search.

i liked this thread for all the information it has in one place:
https://bitcointalksearch.org/topic/options-for-securing-your-bitcoin-wallet-858604

Quote from: LiteCoinGuy on July 08, 2015, 01:10:46 PM

most likely a hardware wallet is save enough too:

https://bitcointalksearch.org/topic/overview-bitcoin-hardware-wallets-secure-your-coins-899253

but it is not free Wink

Bitdonator

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A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

bitllionaire

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I'll try to explain simply

Cold storage wallet is a wallet that you are not going to use in many times and unless you need it

Hot wallet is the wallet you daily use for your transactions

you can create a cold wallet as simply as creating a paperwallet

Amph

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in my case i prefer to have multiple cold storage wallet, so in the event that i need to connect one usb containing the wallet, and thus it became a hot wallet, and in the same time my pc is infected by an obscured wallet stealer, i'll not lose many coins

chaser15

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So that's a cold wallet means.

I always read that term together with hot wallet in multiple sections of this forum.

Thanks OP for asking this and for those posters who replied and give information for us new.

dothebeats

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Cold storage wallets are wallets that aren't connected to the internet to prevent being compromised. Cold storage wallets usually contain a large amount of bitcoins and is purposely done so as to prevent someone from spending it and only keeping it for long-term. It comes in several forms, though the most widely-used form is the paper wallet which could be printed and be kept somewhere safe. Hardware wallets are also a thing, and it is also a cool and secure way to keep your bitcoins. Suggestion for a hardware wallet: Trezor.

LiteCoinGuy

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most likely a hardware wallet is save enough too:

https://bitcointalksearch.org/topic/overview-bitcoin-hardware-wallets-secure-your-coins-899253

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