Thanks for the useful informations guys , didn't knew that it's possible to make a transaction without fees 
That is why everybody love bitcoin.
Topic: What's the difference between Offline & Online wallets ? (Read 3632 times)
That is why everybody love bitcoin.
Thanks all! Great info here. I appreciate it. I suppose the only reason I would care to have an offline wallet is because I worry about online accounts being hacked, that sort of thing. There's a little risk in everything I suppose.
Exactly. So it is a good idea to store like 90% of your bitcoin in a cold wallet that is immune to hacking (if done right) and just a small amount of bitcoin in your hot wallet.
Thanks all! Great info here. I appreciate it. I suppose the only reason I would care to have an offline wallet is because I worry about online accounts being hacked, that sort of thing. There's a little risk in everything I suppose.
Offline wallets (or cold storage) is used to store large amounts of btc for safe keeping and hodling. This is very useful to many btc hodlers because this type of wallet is safe (because of the reason that this wallet is not connected to the internet). On the other hand, an online wallet is used to store minimal amounts of btc, usually for spending and moving coins from one wallet to another.
Yes and wallets installed in pc, phone and such devices are also known as offline wallet, and wallets which we can acces only when there is internet are know as online wallets. There is two defenition for both offline and online wallets!
~~MZ~~
Haha sorry I haven't stressed about their difference. I've only stated their importance and their uses. Thanks for covering up for me mate ^_^
And to OP, Online wallets are wallets that are always connected to the internet and Offline wallets are wallets that aren't connected to the internet and is used to store large amounts of btc.
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Offline wallets (or cold storage) is used to store large amounts of btc for safe keeping and hodling. This is very useful to many btc hodlers because this type of wallet is safe (because of the reason that this wallet is not connected to the internet). On the other hand, an online wallet is used to store minimal amounts of btc, usually for spending and moving coins from one wallet to another.
Yes and wallets installed in pc, phone and such devices are also known as offline wallet, and wallets which we can acces only when there is internet are know as online wallets. There is two defenition for both offline and online wallets!
~~MZ~~
Offline wallets (or cold storage) is used to store large amounts of btc for safe keeping and hodling. This is very useful to many btc hodlers because this type of wallet is safe (because of the reason that this wallet is not connected to the internet). On the other hand, an online wallet is used to store minimal amounts of btc, usually for spending and moving coins from one wallet to another.
hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
For the offline wallet - is the information stored on the computer software itself or as a file? Would I be able to back up the wallet (file?) on an external hard drive? Will it appear in Time Machine (should my laptop crash or something)?
Also, if I store my bitcoins offline, does that mean I have to transfer them at home before I can use them for payment somewhere? Or is it meant to just be stored away for long periods?
Also, if I store my bitcoins offline, does that mean I have to transfer them at home before I can use them for payment somewhere? Or is it meant to just be stored away for long periods?
For first paragraph the answer is Yes. Your laptop may crash if it has poor performance and with that if you install heavy offline wallets like Armory or Bitcoin-Qt. Yes, you will have to transfer at home. There are 2 meanings for offline wallet- wallet used in pc or laptop for daily use and wallet used in a computer which hasn't connected to internet. If you meant first one, then it isn't meant for long periods and the 2nd option can be used for both daily use(very very rare) and long period storage(mainly known as cold storage). You will have to sign a transaction and then push it if you are using an offline wallet(2).
~~MZ~~
For the offline wallet - is the information stored on the computer software itself or as a file? Would I be able to back up the wallet (file?) on an external hard drive? Will it appear in Time Machine (should my laptop crash or something)?
Also, if I store my bitcoins offline, does that mean I have to transfer them at home before I can use them for payment somewhere? Or is it meant to just be stored away for long periods?
Also, if I store my bitcoins offline, does that mean I have to transfer them at home before I can use them for payment somewhere? Or is it meant to just be stored away for long periods?
Thanks for the useful informations guys , didn't knew that it's possible to make a transaction without fees
Why don't you use a thin client like Electrum then?
You won't need to keep the 24 GB blockchain files on your device.
You won't need to keep the 24 GB blockchain files on your device.
because I never heard about it
going to check, if you have a link I take it.
You can find the description on bitcoin.org https://bitcoin.org/en/choose-your-wallet
The homepage for Electrum is https://electrum.org/
My advice on offline wallets is to use Electrum because it's user friendly and secure, I use it for everyday transactions.
if there is no fee? or no fee but can be set by us if you use offline wallets?
You can create zero-fee transactions easily by clicking Tools -> Create Transaction -> From CSV text on Electrum.
Please note that your transaction will likely take longer time to get confirmed.
Why don't you use a thin client like Electrum then?
You won't need to keep the 24 GB blockchain files on your device.
You won't need to keep the 24 GB blockchain files on your device.
because I never heard about it
going to check, if you have a link I take it.
is it possible to set an online btc deposit address in a .bat file for solo mining please ?
or wich websites allow this please ?
just want to run a little usb device to play btc lottery and don't have 20Go on my harddisk for offline wallet.
Why don't you use a thin client like Electrum then?
You won't need to keep the 24 GB blockchain files on your device.
is it possible to set an online btc deposit address in a .bat file for solo mining please ?
or wich websites allow this please ?
just want to run a little usb device to play btc lottery and don't have 20Go on my harddisk for offline wallet.
I'm while using the offline wallet, simply for the 'savings' as some sort of cold wallet. A few other online wallets I prefer on more day after day.
There is absolutely no real among the online and offline variant, except the offline variant are at version .2.48 and can need to have a fresh fork with the online options.
There is absolutely no real among the online and offline variant, except the offline variant are at version .2.48 and can need to have a fresh fork with the online options.
My advice on offline wallets is to use Electrum because it's user friendly and secure, I use it for everyday transactions.
if there is no fee? or no fee but can be set by us if you use offline wallets?
If your wallet is on your PC and your PC is online, then your wallet is online. Just ask any hacker.
Online wallets means that it's connected to the internet or rather it's accessed only through a web site and offline wallet means the wallet you install on your PC. Obviously having bitcoins in an account on a web site is enough dangerous and you need you need to give attention.
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Multibit will do the job. If you want most secure wallet, you can use Armory but it will take some time to download whole blockchain(~<30 GB). Web-based wallets are not much secure. One of the oldest and the best online wallet is blockchain.info wallet. They have good features. I suggest you to stick with Multibit and also try to install an antivirus such as avast(freeware) or kaspersky. There are many trojans, malware and adwares which will steal your BTC mostly by stealing your private key.
~~MZ~~
~~MZ~~
Refers to location of the private keys which signifies control of the assets
Offline is much riskier but also easier to spend from
Offline is much riskier but also easier to spend from
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