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Version 2
Last scraped
Edited on 30/04/2025, 08:19:16 UTC
Thank you for explaining it, I have started to understand about bitcoin storage, about 3 days ago I tried to create an electrum wallet on 2 devices, 1 offline device to sign transactions and 1 online device to create transactions and view bitcoin balance mode, on the offline device I created a 12-word seedphrase and added a pashphrase
The key point is that
If there is a method like this, why do most people buy hardware wallets, are they easier to use or safer than the methods above,
Good hardware wallets like
BTW, Make sure that autoplay/autorun for inserted media on your dedicated machine is disabled as I suppose you use flash drive to transfer the transactions for signing by cold wallet.
Version 1
Scraped on 30/04/2025, 07:54:28 UTC
Thank you for explaining it, I have started to understand about bitcoin storage, about 3 days ago I tried to create an electrum wallet on 2 devices, 1 offline device to sign transactions and 1 online device to create transactions and view bitcoin balance mode, on the offline device I created a 12-word seedphrase and added a pashphrase
My question is, this is how it works similar to a hardware wallet, we make transactions then need permission on the device that stores the private key to sign the transaction and then broadcast it again on the online device.
If there is a method like this, why do most people buy hardware wallets, are they easier to use or safer than the methods above, or do they just look like they have a lot of bitcoin assets if they have a hardware wallet?
in my country, many influencers suggest buying a hardware wallet because of the security issues of local exchanges, and those influencers suggest not to store assets of more than 1btc on the exchange and if it is still below 1 btc it is okay to still store it on the exchange, as written above (not how many assets are stored but how long the assets are stored in the coldwallet) I agree with this.The key point is that a device dedicated to a cold wallet must remain completely offline meaning it should never have connected to the internet in the past, present, or future.
If there is a method like this, why do most people buy hardware wallets, are they easier to use or safer than the methods above,
My question is, this is how it works similar to a hardware wallet, we make transactions then need permission on the device that stores the private key to sign the transaction and then broadcast it again on the online device.
If there is a method like this, why do most people buy hardware wallets, are they easier to use or safer than the methods above, or do they just look like they have a lot of bitcoin assets if they have a hardware wallet?
in my country, many influencers suggest buying a hardware wallet because of the security issues of local exchanges, and those influencers suggest not to store assets of more than 1btc on the exchange and if it is still below 1 btc it is okay to still store it on the exchange, as written above (not how many assets are stored but how long the assets are stored in the coldwallet) I agree with this.If there is a method like this, why do most people buyGood hardware wallets
Good HW li
Original archived Re: Hot vs Cold Wallet Cryptocurrency
Scraped on 30/04/2025, 07:49:12 UTC
Thank you for explaining it, I have started to understand about bitcoin storage, about 3 days ago I tried to create an electrum wallet on 2 devices, 1 offline device to sign transactions and 1 online device to create transactions and view bitcoin balance mode, on the offline device I created a 12-word seedphrase and added a pashphrase (I have noted both and saved them well) I tried to enter my bitcoin from the exchange to my wallet and it successfully entered, after that I tried to withdraw my funds (at first it was a bit complicated but I started to understand) and this worked too, quite fun for me as a beginner.
My question is, this is how it works similar to a hardware wallet, we make transactions then need permission on the device that stores the private key to sign the transaction and then broadcast it again on the online device.
If there is a method like this, why do most people buy hardware wallets, are they easier to use or safer than the methods above, or do they just look like they have a lot of bitcoin assets if they have a hardware wallet?
in my country, many influencers suggest buying a hardware wallet because of the security issues of local exchanges, and those influencers suggest not to store assets of more than 1btc on the exchange and if it is still below 1 btc it is okay to still store it on the exchange, as written above (not how many assets are stored but how long the assets are stored in the coldwallet) I agree with this.The key point is that a device dedicated to a cold wallet must remain completely offline meaning it should never have connected to the internet in the past, present, or future.
Thank you for explaining it, I have started to understand about bitcoin storage, about 3 days ago I tried to create an electrum wallet on 2 devices, 1 offline device to sign transactions and 1 online device to create transactions and view bitcoin balance mode, on the offline device I created a 12-word seedphrase and added a pashphrase (I have noted both and saved them well) I tried to enter my bitcoin from the exchange to my wallet and it successfully entered, after that I tried to withdraw my funds (at first it was a bit complicated but I started to understand) and this worked too, quite fun for me as a beginner.
My question is, this is how it works similar to a hardware wallet, we make transactions then need permission on the device that stores the private key to sign the transaction and then broadcast it again on the online device.
If there is a method like this, why do most people buy hardware wallets, are they easier to use or safer than the methods above, or do they just look like they have a lot of bitcoin assets if they have a hardware wallet?
in my country, many influencers suggest buying a hardware wallet because of the security issues of local exchanges, and those influencers suggest not to store assets of more than 1btc on the exchange and if it is still below 1 btc it is okay to still store it on the exchange, as written above (not how many assets are stored but how long the assets are stored in the coldwallet) I agree with this.If there is a method like this, why do most people buy hardware wallets, are they easier to use or safer than the methods above,
Good HW like the Passport Core offer stronger entropy source which means better security for your crypto. They're also much more compact than a dedicated offline machine making them far more convenient especially when traveling. That said, if you do use a dedicated machine it should be completely free of any communication modules cellular, ]Wi-Fi, Bluetooth, etc.