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Title: Bitcoin address & it's private key... Is that all what's required? Post by: Raja_MBZ on June 26, 2016, 08:26:34 PM Because of the risk of keeping bitcoins online, I decided to take them out of BlockChain.info and keep them in off-line wallet. I remember I once input my off-line bitcoin wallet through my private key and bitcoin address into the blockchain online wallet, as I wasn't able to download the off-line wallet data (synchronizing).
So, I want to ask... If I don't want to send my bitcoins (and only receive them), is it safe to just & just keep it's address & the private key? Then delete off the bitcoin software as well along with the wallet.dat? As I don't see the point of keeping the backup file wallet.dat if you have the address & private key. Once I'll need to spend them, I'd simply input the wallet address & private key to some online web wallet such as blockchain. Title: Re: Bitcoin address & it's private key... Is that all what's required? Post by: Chris! on June 26, 2016, 08:33:25 PM I would keep a 'watch only' address with just your public key imported. That way no one has access to your coins ever. I'd suggest making a paper wallet offline, on a brand new OS (Ubuntu Live USB) (https://bitcointalk.org/index.php?topic=1424863.msg15372697#msg15372697) for maximum security. The only way they could have access would be to brute-force your wallet (so close to impossible it's not really an option) or find the paper wallet you have printed out and important the private key (just make sure you hide it/lock it up in your house. In the very unlikely event someone found it they would need to know what Bitcoins are and how to use them!)
Title: Re: Bitcoin address & it's private key... Is that all what's required? Post by: Raja_MBZ on June 26, 2016, 09:02:43 PM I would keep a 'watch only' address with just your public key imported. That way no one has access to your coins ever. I'd suggest making a paper wallet offline, on a brand new OS (Ubuntu Live USB) (https://bitcointalk.org/index.php?topic=1424863.msg15372697#msg15372697) for maximum security. The only way they could have access would be to brute-force your wallet (so close to impossible it's not really an option) or find the paper wallet you have printed out and important the private key (just make sure you hide it/lock it up in your house. In the very unlikely event someone found it they would need to know what Bitcoins are and how to use them!) Well that solution is pretty close to what I wrote. All I'll have to do is to input my public key in my blockchain.info wallet which will help me to track the record of the wallet, and about the private key, I'll just write it down or maybe print it down on a piece of paper. Moreover, to avoid any further risk, I'll keep the wallet.dat file as well on a CD which won't be used normally. Title: Re: Bitcoin address & it's private key... Is that all what's required? Post by: Chris! on June 26, 2016, 09:12:46 PM I would keep a 'watch only' address with just your public key imported. That way no one has access to your coins ever. I'd suggest making a paper wallet offline, on a brand new OS (Ubuntu Live USB) (https://bitcointalk.org/index.php?topic=1424863.msg15372697#msg15372697) for maximum security. The only way they could have access would be to brute-force your wallet (so close to impossible it's not really an option) or find the paper wallet you have printed out and important the private key (just make sure you hide it/lock it up in your house. In the very unlikely event someone found it they would need to know what Bitcoins are and how to use them!) Well that solution is pretty close to what I wrote. All I'll have to do is to input my public key in my blockchain.info wallet which will help me to track the record of the wallet, and about the private key, I'll just write it down or maybe print it down on a piece of paper. Moreover, to avoid any further risk, I'll keep the wallet.dat file as well on a CD which won't be used normally. Just make sure you create a new address and you know that the system you're creating it on hasn't been compromised in any way (malware). I wouldn't suggest 'deleting' a private key off of blockchain.info then continuing to use that address. Title: Re: Bitcoin address & it's private key... Is that all what's required? Post by: patronis on June 26, 2016, 09:46:36 PM Consider using a light wallet technology like Electrum where you can restore all your private keys from a phrase of keywords (brain key). This is one of the safest ways to store your bitcoins imo.
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