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Title: Newbie question - offline wallet? Post by: OmegaCollector on February 12, 2015, 10:44:45 PM So, what is an offline wallet, and why do people with lots of coins want to use one? Why is it more secure than an online wallet?
Title: Re: Newbie question - offline wallet? Post by: TookDk on February 12, 2015, 10:53:30 PM It all comes down to how you protect your private keys.
The private key gives you the ability to make bitcoin transactions, of what ever funds that is associated to your public key. Anybody who has access to your private key has access to your bitcoin. The only way you can be certain that you and only you have access to your bitcoin is to never expose the key to the internet. I prefer to use paper-wallets, which is a type of offline wallet. A paper-wallet is basically a piece of paper which has your private key written on. If the paper-wallet is created completely offline and never exposed to the internet, then is not possible to steal your funds (unless someone break into your home and steal the physical piece of paper). Note, you can always transfer funds to your paper-wallet, by sending funds to the associated public key. But you need the actual piece of paper to redeem the funds. Title: Re: Newbie question - offline wallet? Post by: owlcatz on February 13, 2015, 01:45:45 AM It all comes down to how you protect your private keys. The private key gives you the ability to make bitcoin transactions, of what ever funds that is associated to your public key. Anybody who has access to your private key has access to your bitcoin. The only way you can be certain that you and only you have access to your bitcoin is to never expose the key to the internet. I prefer to use paper-wallets, which is a type of offline wallet. A paper-wallet is basically a piece of paper which has your private key written on. If the paper-wallet is created completely offline and never exposed to the internet, then is not possible to steal your funds (unless someone break into your home and steal the physical piece of paper). Note, you can always transfer funds to your paper-wallet, by sending funds to the associated public key. But you need the actual piece of paper to redeem the funds. This exactly. If you have more than a "few" Bitcoins, I would just buy a Trezor. Mine's awesome, love it. No looking back at paper, other than my recovery seed list. ;) Title: Re: Newbie question - offline wallet? Post by: OROBTC on February 13, 2015, 03:28:11 AM ...
Yes, re Trezor. The Ledger hardware solution is also excellent. Ledger is a bargain, only some 29 euros. I have both, and like them both. Title: Re: Newbie question - offline wallet? Post by: DLCseller on February 13, 2015, 03:49:43 AM An offline wallet is a wallet where you keep your BTC offline, so hackers/stealers can get access to them online. Safest method to store BTC
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