Post
Topic
Board Beginners & Help
Re: What is the safest and simplest way to keep bitcoins?
by
ranlo
on 01/10/2015, 04:35:08 UTC
Except that if I want to save a considerable amount of money, but in bitcoins.

Then print a paper wallet, put it into a safe place and move your bitcoins there.
if I create a paper wallet and move my bitcoin there then how can I send bitcoin to someone if I need to? what do I do to use it?

Google for paper wallet generator. There are many tools that will let you sign and push a transaction with your private key.

Make sure when you make a paper wallet it's on a computer that seems to be clean.  If you can do a fresh install OS and install updates, and anti-virus then do this is best.

I would not use normal internet surfing computer to do this.  Or one that is a public computer.   I guess kinda common sense stuff on some of it.

While your tips were good, you forgot a big part. DO NOT take that computer online! Preferably ever. That means keep it off the network, as well. You don't know what malware could be lurking still.

The thing is if you are compromised likely you create it when offline... so ok safe.  But if you go back online with same computer depending on what you have on virus/malware it might just send that new wallet.   

So cold storage is a good way to do it.  This may seem like overkill but if it's a paper wallet you will be using for decent amount of money I would whipe computer, and reinstall OS after.  Then you pretty much are in clear if you store it safely.

It's been said that you can implant virii in the BIOS, though, so that if the system ever goes online in the future (even after a wipe), it could still be compromised. It's a tricky thing.