Post
Topic
Board Beginners & Help
Re: [General] Bitcoin Wallets - Which, what, why?
by
Lauda
on 29/11/2016, 07:17:09 UTC
Another way to keep your coins from being stolen is to use a cold storage wallet.  While they are not a convenient solution for spending bitcoins, they are a great way to keep your coins safe.  With the cold storage keys being generated offline, there is no way for a hacker to get said keys.  But when you want to spend the coins on the cold wallet, you have to upload all the coins in the address as the private key is now possibly compromised.
While that is most likely going to be the case with the average user, it does not necessarily have to be the case. Depending on the user expertise, it is possibly to create the transaction(s) offline and broadcast them to the network from an online machine. One could say that this is almost a *fool proof* way of using them. Someone could attempt to write a guide for this, however I'd advise that average users do not use it depending on how TXs are crafted.