Bitcoin Forum

Hello,

I am new to bitcoin, but have done some intense studying lately, and I have come to the conclusion that when it comes to managing your bitcoins it boils down to a trade-off between security and convenience - you can either keep your bitcoins very safe (cold storage, paper wallets...) or very convenient (exchange, online wallet...), or maybe something in between.

I have an idea of how to be blend the two aspects so that my handling of my bitcoins is easy, as well as safe. Now, I find my plan kind of simple and obvious, so maybe I am missing some important aspects. I would very much appreciate any input on my strategy, and feel free to point to any weaknesses it might have.

My idea is as follows:

1. Create a handful of bitcoin addresses via bitaddress.org and store the private keys safely off-line.

2. Load the addresses with bitcoin.

3. Import the addresses into my Blockchain online wallet (keeping the private keys to myself).

That's it. Now I have full control over my bitcoin because I keep control over the private keys, but I also have the convenience of an online wallet where I easily can see the balances of the various addresses in my local currency, and whenever I want to spend bitcoin I just supply my private key for the transaction. If necessary, to make things easy, I don't see much of a problem keeping some minor sum with the addresses supplied by the Blockchain wallet.

So, again, am I missing something?

/sven