Bitcoin Forum

Bitcoin => Bitcoin Technical Support => Topic started by: nagoarif on January 11, 2021, 10:38:51 AM



Title: Hi I'm new to this forum
Post by: nagoarif on January 11, 2021, 10:38:51 AM
My Question is related to the topic of offline storage: Is there any free wallet available to store bitcoin offline? I don't have any printer to print a paper wallet. Thank you in advance


Title: Re: Hi I'm new to this forum
Post by: NeuroticFish on January 11, 2021, 11:11:18 AM
My Question is related to the topic of offline storage: Is there any free wallet available to store bitcoin offline? I don't have any printer to print a paper wallet. Thank you in advance

Bitcoin is never stored offline. Bitcoin never leaves the blockchain, it's always online.
This is only for you to understand a little bit better what happens there.

What you need to store is the private key, since that's the (only) thing that allows you spend the coins.
Nowadays there's something easier to save and store: the mnemonic seed. That's a list of words based on what multiple private keys can be generated for you and they're English words, hence easier to copy/write down.

My advice is to read this thread [Guide] Create an Offline Wallet For Bitcoin and Altcoin Only Use 1 Paper (https://bitcointalk.org/index.php?topic=5190202.0), create a seed for yourself, write it down (you don't need a printer, but writing on multiple pieces of paper you'll store in different places would be good)

Also write down some of those addresses so you know where to send your coins to for holding. (make sure you don't make mistakes there)

Please take all the precautions to do the steps safely.


Title: Re: Hi I'm new to this forum
Post by: o_e_l_e_o on January 11, 2021, 01:30:47 PM
Is there any free wallet available to store bitcoin offline?
There are multiple free and open source wallets which can be used for airgapped (offline) storage. Probably the most commonly used is Electrum.*

If you can describe your set up a bit, then we can give more tailored advice. Are you planning on having a second computer which never goes online, and using that to store your wallet? Or do you want to put your wallet on to some removable media like a SD card or USB drive? Or perhaps include it as part of a live OS such as Tails? Or if you are planning to hold the coins long term and very rarely make transactions, then you can make a surrogate paper wallet by simply writing down your seed phrase as NeuroticFish has described above.

*Only download from https://electrum.org/#download and always make sure you verify your download before installing and/or updating the software. See: https://bitcoinelectrum.com/how-to-verify-your-electrum-download/


Title: Re: Hi I'm new to this forum
Post by: LoyceV on January 11, 2021, 02:53:45 PM
I don't have any printer to print a paper wallet.
The obvious solution would be to buy a printer ;) If you have enough funds to require cold storage, a printer shouldn't be a large expense.
Don't risk writing down private keys, I've seen people lose their funds due to their own hand writing (https://bitcointalk.org/index.php?topic=4959742.msg45571438#msg45571438).


Title: Re: Hi I'm new to this forum
Post by: examplens on January 11, 2021, 03:39:14 PM
I don't have any printer to print a paper wallet.
The obvious solution would be to buy a printer ;) If you have enough funds to require cold storage, a printer shouldn't be a large expense.
Don't risk writing down private keys, I've seen people lose their funds due to their own hand writing (https://bitcointalk.org/index.php?topic=4959742.msg45571438#msg45571438).

if he already has money for a printer, isn't it better to buy hardware wallet instead of a printer?
the price is about the same if we compare middle-class home printer vs. Trezor one wallet for example. Hardware wallets can be considered as offline.
use pen and paper to write down anything about digital currency as a Bitcoin is absurd.


Title: Re: Hi I'm new to this forum
Post by: o_e_l_e_o on January 11, 2021, 03:55:02 PM
Don't risk writing down private keys
Yeah, writing down private keys results in a high chance of error. The only thing you should be writing down is your seed phrase(s).

if he already has money for a printer, isn't it better to buy hardware wallet instead of a printer?
If the goal is long term cold storage without making transactions, then a properly created paper wallet is superior to a hardware wallet in terms of security, privacy, and durability/longevity. If the goal is somewhere secure to hold your coins yet still make regular transactions, then a hardware wallet would be better than a paper wallet, but probably still inferior to proper (airgapped, encrypted) cold storage. The main selling point of a hardware wallet is its ease of use for newbies.

the price is about the same if we compare middle-class home printer vs. Trezor one wallet for example.
You don't want a middle-class home printer for making a hardware wallet. You want a cheap dumb printer, without any screens, without any SD card slots, without any WiFi capabilities, without any internal memory. The older the better.


Title: Re: Hi I'm new to this forum
Post by: ranochigo on January 11, 2021, 04:07:13 PM
if he already has money for a printer, isn't it better to buy hardware wallet instead of a printer?
the price is about the same if we compare middle-class home printer vs. Trezor one wallet for example. Hardware wallets can be considered as offline.
Hardware wallets are not the same as offline, air gapped wallets. You're likely going to connect to an online computer with a wallet software to make transactions, unless of course you do it offline which isn't very reasonable when you've shelled out so much money for an online wallet.

Conversely, if you're comparing the price of a printer (dumb and cheap as mentioned by o_e_l_e_o), you'll be probably looking at something similar to a Raspberry Pi, at least for where I'm from. The creation and the spending of the paper wallet should ideally involve an offline computer that's wiped clean. Using an airgapped wallet and writing the seeds down would probably be better than printing and using a paper wallet, given that it would simplify the generation of different addresses and spending of the funds.