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Board Beginners & Help
Re: Where should i keep my bitcoins?
by
Ytrap1
on 17/08/2017, 18:29:54 UTC
Quote from: BitcoinBarrel on August 17, 2017, 06:21:41 PM
Quote from: Ytrap1 on August 17, 2017, 06:19:30 PM
Quote from: BitcoinBarrel on August 17, 2017, 06:13:01 PM
Paper wallets are the safest way to store your Bitcoins, in my opinion.

1. Open http://bitaddress.org in a Private/Incognito window
2. Turn off your Internet connection/Airplane mode
3. Generate a new Bitcoin address/Private Key
4. Print your Paper Wallet
5. Close the Incognito Window
6. Turn back on Wifi

Now you can send your Bitcoins to the paper wallet and you control the private keys. You can import the private key into blockchain wallet when you're ready to spend.

Thanks a lot for your answers! Shame that my printer isn't working so this will have to wait.

Also, is it safe to print it more than once? I mean if i would lose first copy by mistake or destroy it somehow.

Alsoo, is there a limit of how many times i can send bitcoins into this new paper wallet?

You can take a screenshot of the paper wallet and save to a jpg file. You can also copy the Public/Private key in a Read-only text file for backup.

And probably last question, what are pros and cons of using paper wallet like this instead of Electrum one that other user said?
Post
Topic
Board Beginners & Help
Re: Where should i keep my bitcoins?
by
Ytrap1
on 17/08/2017, 18:19:30 UTC
Quote from: BitcoinBarrel on August 17, 2017, 06:13:01 PM
Paper wallets are the safest way to store your Bitcoins, in my opinion.

1. Open http://bitaddress.org in a Private/Incognito window
2. Turn off your Internet connection/Airplane mode
3. Generate a new Bitcoin address/Private Key
4. Print your Paper Wallet
5. Close the Incognito Window
6. Turn back on Wifi

Now you can send your Bitcoins to the paper wallet and you control the private keys. You can import the private key into blockchain wallet when you're ready to spend.

Thanks a lot for your answers! Shame that my printer isn't working so this will have to wait.

Also, is it safe to print it more than once? I mean if i would lose first copy by mistake or destroy it somehow.

Alsoo, is there a limit of how many times i can send bitcoins into this new paper wallet?
Post
Topic
Board Beginners & Help
Where should i keep my bitcoins?
by
Ytrap1
on 17/08/2017, 18:04:51 UTC
Hey!

I'm pretty new to bitcoins, i bought 0.05 BTC yesterday and 0.01 ETH. I keep Bitcoins in blockchain wallet and etherium in first mobile app wallet that came up in search.
0.05 Isn't much, but i plan to buy more in future. Are they safe? Should i make... Cold storage? If yes, how to make one/which one to download? Should i get usb drive just for that (if i will ever get more than one btc ofc)

Some more questions:

How to get bitcoins back from cold storage?
What are private keys? Public keys?
Why transaction fee is this large?
What is segwit (different topic but i saw it often in forum!)

Thanks!!