Bitcoin Forum

as the title says , I would like to know What's the difference between Offline & Online wallets ?
and can you list some of each ?
Thank you guys .

All depends on what you use.  Some online have 2 factor authentication, insured, list goes on.  But also they are online which is far different then cold storage.

The client for bitcoin takes a LONG time normally to download the chain and get up to date.  You can use a wallet without it and be able to send/recieve much quicker.

If much money i suggest looking into cold storage.

I'am using Multibit , this will do the job ? and I will be able to receive money & send quickly ? thanks mate .

The definitions of "online wallet" and "offline wallet" are confused. They mean different things to different people.

Generally, "offline wallet" means the same as "cold storage", or a wallet that is not connected to the internet. Some people use the term to mean a wallet that runs directly on a device -- phone, tablet, computer, etc.

Then you would expect that "online wallet" means a wallet that is connected to the internet -- the same as a "hot wallet", but that's not how most people use the term. Generally, when people refer to an "online wallet", they mean a wallet that is accessed through a web site, and sometimes more specifically an account at a web site that is not really a wallet. This may also be called "web wallet" or "hosted wallet".

I try to avoid using the terms "online" and "offline" because of the confusion.

Cold storage is the safest because someone needs physical access to the wallet to steal the bitcoins. Holding bitcoins in an account on a web site is generally unsafe. Bitcoins in accounts are easily and frequently stolen.

Online wallets means online base wallet and offline wallet means the wallet you install on your PC.

Alright I see , so Multibit is a Offline wallet , I will stick with it . thank you guys

Multibit is a desktop based wallet. Your wallet and keys is store in your pc while online wallets like blockchain your keys and wallet is stored online.

Online wallet is not secure if you don't set up all security futures and offline wallet is 100 procent secure if you don't download any viruses or keyloggers to your computer. I would suggest using online wallet for everyday use because you don't have to update your blockchain each time which takes a while but mainly use desktop wallet for your main funds or even cold wallet.

There are 3 different kinds of wallets:

• wallets that are running on a website.  (online)
  
• wallets that run on your computer  (offline)  
• wallets that are not connected to the internet or even inside a computer, public and private key on paper.  (cold storage)

With bitcoin, data is money. So you have to pick the right way to protect your data.
You can see an overview of wallets here:  https://bitcoin.org/en/choose-your-wallet (https://bitcoin.org/en/choose-your-wallet)
This is my general experience:

wallets that are running on a website.
The website has ownership of your wallet. "Similar to online banking."  
Advantage:  Easy to access from anywhere in the world. The wallet client allows you to do direct transactions on the bitcoin network.
Disadvantage: The website could potentially get hacked or the owner could run off with your money.  You have to trust the intermediary.

wallets that run on your computer  (offline)
The data on your hard drive is now worth money.
Advantages:  Always in control of your money (computer). The wallet client allows you to do direct transactions on the bitcoin network. No need to trust intermediary, only your computer.
Disadvantages:  Your hard drive could crash (you need backups), your computer could get a virus if you do not secure it or someone could steal your computer.  

wallets that run on papyrus  (offline)
Since your keys are on paper, nobody on the internet can potentially steal them.
Advantages:  Even in 5 years you still have your wallets BTC secure. No intermediary, only trust you don't forget where you left the paper.
Disadvantages:  Unless you spill coffee on them  :)

I think OP really meant Hot and Cold wallets.

Simple 2 cent answer.  Hot wallet is on a mobile device like a phone, Trezor, tablet, laptop or web wallet like Blockchain etc. that's always connected online.

Cold wallet can be a printed paper wallet, physical bitcoin, USB key, or hard drive not connected online.

My advice on offline wallets is to use Electrum because it's user friendly and secure, I use it for everyday transactions.

Refers to location of the private keys which signifies control of the assets
Offline is much riskier but also easier to spend from

Multibit will do the job. If you want most secure wallet, you can use Armory but it will take some time to download whole blockchain(~<30 GB). Web-based wallets are not much secure. One of the oldest and the best online wallet is blockchain.info wallet. They have good features. I suggest you to stick with Multibit and also try to install an antivirus such as avast(freeware) or kaspersky. There are many trojans, malware and adwares which will steal your BTC mostly by stealing your private key.

  ~~MZ~~

Online wallets means that it's connected to the internet or rather it's accessed only through a web site and offline wallet means the wallet you install on your PC. Obviously having bitcoins in an account on a web site is enough dangerous and you need you need to give attention.

If your wallet is on your PC and your PC is online, then your wallet is online. Just ask any hacker.

if there is no fee? or no fee but can be set by us if you use offline wallets?

I'm while using the offline wallet, simply for the 'savings' as some sort of cold wallet. A few other online wallets I prefer on more day after day.

There is absolutely no real among the online and offline variant, except the offline variant are at version .2.48 and can need to have a fresh fork with the online options.

is it possible to set an online btc deposit address in a .bat file for solo mining please ?

or wich websites allow this please ?

just want to run a little usb device to play btc lottery and don't have 20Go on my harddisk for offline wallet.

Why don't you use a thin client like Electrum then?
You won't need to keep the 24 GB blockchain files on your device.

because I never heard about it  ;D
going to check, if you have a link I take it.

You can create zero-fee transactions easily by clicking Tools -> Create Transaction -> From CSV text on Electrum.
Please note that your transaction will likely take longer time to get confirmed.

You can find the description on bitcoin.org https://bitcoin.org/en/choose-your-wallet
The homepage for Electrum is https://electrum.org/

Thanks for the useful informations guys , didn't knew that it's possible to make a transaction without fees  :o

For the offline wallet - is the information stored on the computer software itself or as a file? Would I be able to back up the wallet (file?) on an external hard drive? Will it appear in Time Machine (should my laptop crash or something)?

Also, if I store my bitcoins offline, does that mean I have to transfer them at home before I can use them for payment somewhere? Or is it meant to just be stored away for long periods?

For first paragraph the answer is Yes. Your laptop may crash if it has poor performance and with that if you install heavy offline wallets like Armory or Bitcoin-Qt. Yes, you will have to transfer at home. There are 2 meanings for offline wallet- wallet used in pc or laptop for daily use and wallet used in a computer which hasn't connected to internet. If you meant first one, then it isn't meant for long periods and the 2nd option can be used for both daily use(very very rare) and long period storage(mainly known as cold storage). You will have to sign a transaction and then push it if you are using an offline wallet(2).

  ~~MZ~~

Offline wallets (or cold storage) is used to store large amounts of btc for safe keeping and hodling. This is very useful to many btc hodlers because this  type of wallet is safe (because of the reason that this wallet is not connected to the internet). On the other hand, an online wallet is used to store minimal amounts of btc, usually for spending and moving coins from one wallet to another.

Yes and wallets installed in pc, phone and such devices are also known as offline wallet, and wallets which we can acces only when there is internet are know as online wallets. There is two defenition for both offline and online wallets! ::)

  ~~MZ~~

Haha sorry I haven't stressed about their difference. I've only stated their importance and their uses. Thanks for covering up for me mate ^_^

And to OP, Online wallets are wallets that are always connected to the internet and Offline wallets are wallets that aren't connected to the internet and is used to store large amounts of btc. :)

Thanks all! Great info here. I appreciate it. I suppose the only reason I would care to have an offline wallet is because I worry about online accounts being hacked, that sort of thing. There's a little risk in everything I suppose.

Exactly. So it is a good idea to store like 90% of your bitcoin in a cold wallet that is immune to hacking (if done right) and just a small amount of bitcoin in your hot wallet.

That is why everybody love bitcoin.  :)