Bitcoin Forum
July 17, 2018, 12:04:14 PM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 »  All
  Print  
Author Topic: What is the cold storage wallet?  (Read 2040 times)
Phuminh
Newbie
*
Offline Offline

Activity: 18
Merit: 0


View Profile
July 08, 2015, 02:59:36 PM
 #1

Hi everyone

What is the cold storage wallet?

And how to do that?

Thanks in advance.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1531829054
Hero Member
*
Offline Offline

Posts: 1531829054

View Profile Personal Message (Offline)

Ignore
1531829054
Reply with quote  #2

1531829054
Report to moderator
1531829054
Hero Member
*
Offline Offline

Posts: 1531829054

View Profile Personal Message (Offline)

Ignore
1531829054
Reply with quote  #2

1531829054
Report to moderator
shorena
Copper Member
Legendary
*
Offline Offline

Activity: 1470
Merit: 1236


No I dont escrow anymore.


View Profile WWW
July 08, 2015, 03:10:18 PM
 #2

Hi everyone

What is the cold storage wallet?

A wallet is considered cold if it is kept offline without any internet connection. In order to broadcast transactions and keep up to date on your balances you also need a watch only wallet that is online, but does not have the private keys in order to sign a transaction. The watch only wallet creates the transaction, but cant sign it. You transfer it to the offline computer (e.g. via QR-code or USB-stick), sign it there and transfer it back for broadcasting.


And how to do that?

Thanks in advance.

#1 get additional computer
#2 install software
#3 dont go online
notlist3d
Legendary
*
Offline Offline

Activity: 1470
Merit: 1000



View Profile
July 08, 2015, 04:45:19 PM
 #3

A properly done paper wallet is hard to beat.  You have to treat it safely and do it at home.

Also store it in a safe area. And make a backup do not just have one copy.  But if done properly a paper wallet an be hard to beat.
ikydesu
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500

fb.com/Bitky.shop | Bitcoin Merch!Premium Quality!


View Profile WWW
July 08, 2015, 04:51:17 PM
 #4

Hi everyone

What is the cold storage wallet?

And how to do that?

Thanks in advance.

For more clear info: https://en.bitcoin.it/wiki/Cold_storage

Use paper wallet is cheap and of course secure.
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148
Merit: 1001


In Satoshi I Trust


View Profile WWW
July 08, 2015, 05:10:46 PM
 #5

most likely a hardware wallet is save enough too:

https://bitcointalk.org/index.php?topic=899253.0

dothebeats
Legendary
*
Offline Offline

Activity: 1512
Merit: 1059

Deleted posts: 91


View Profile
July 08, 2015, 05:32:20 PM
 #6

Cold storage wallets are wallets that aren't connected to the internet to prevent being compromised. Cold storage wallets usually contain a large amount of bitcoins and is purposely done so as to prevent someone from spending it and only keeping it for long-term. It comes in several forms, though the most widely-used form is the paper wallet which could be printed and be kept somewhere safe. Hardware wallets are also a thing, and it is also a cool and secure way to keep your bitcoins. Suggestion for a hardware wallet: Trezor.

chaser15
Legendary
*
Offline Offline

Activity: 1078
Merit: 1005


Make winning bets on sports with Sportsbet.io!


View Profile
July 08, 2015, 05:35:27 PM
 #7

So that's a cold wallet means.

I always read that term together with hot wallet in multiple sections of this forum.

Thanks OP for asking this and for those posters who replied and give information for us new.

   ▄▄██████▄▄
  ████████████
███▄▄
 ██████████████▀▀▀██▄
████████████████   ▀██▄
████████████████     ▀██
██████████████       ██▌
██████████████        ▐██
██▌▀▀██████▀▀         ▐██
▐██                   ██▌
 ██▄                 ▄██
  ▀██▄             ▄██▀
    ▀██▄▄▄     ▄▄▄██▀
      ▀▀█████████▀▀





███████████████████████████
████████▀▀       ▀▀████████
█████▀   ▄ ▀███▀ ▄   ▀█████
████  ▄████▄ ▀ ▄████▄  ████
███  ▄ ▀███▀ ▄ ▀███▀ ▄  ███
██  ▄██ ▀▀ ▄███▄ ▀▀ ██▄  ██
██  █▀ ▄█ ███████ █▄ ▀█  ██
██   ▄███▄ █████ ▄███▄   ██
███  ████▀ ▄▄▄▄▄ ▀████  ███
████  ▀ ▄ ▀█████▀ ▄ ▀  ████
█████▄  ▀▀▄ ███ ▄▀▀  ▄█████
████████▄▄       ▄▄████████
███████████████████████████





█▀▀











█▄▄
▀▀█











▄▄█
█▀▀











█▄▄
▀▀█











▄▄█
Amph
Legendary
*
Offline Offline

Activity: 1932
Merit: 1001



View Profile
July 08, 2015, 06:56:29 PM
 #8

in my case i prefer to have multiple cold storage wallet, so in the event that i need to connect one usb containing the wallet, and thus it became a hot wallet, and in the same time my pc is infected by an obscured wallet stealer, i'll not lose many coins
bitllionaire
Legendary
*
Offline Offline

Activity: 1036
Merit: 1000


View Profile
July 08, 2015, 08:51:58 PM
 #9

I'll try to explain simply

Cold storage wallet is a wallet that you are not going to use in many times and unless you need it

Hot wallet is the wallet you daily use for your transactions


you can create a cold wallet as simply as creating a paperwallet


                                      ▄._       
                                       ▀█████████▀ 
                                     ,▄▓████████   
                                ╓▄▓███████████▀   
                           ╓▄▓███████▀╙.  ▀█     
                      ▄▄▓███████▀╙▄▄▄▄███         
                 ▄▄▓███████▀╙▄,  ▓███████         
           .▄▄▓██████▀▀╙▄▄▓████▌ ████████         
      .▄▄███████▀▀╙▄▄  ▐███████▌ ████████         
 .▄▄███████▀▀ ▐▄▄▓████ ▐███████▌ ████████         
╙█████▀▀▐▄▄▓  ████████ ▐███████▌ ████████         
 ╙▀ ▄▄▓█████  ████████ ▐███████▌ ████████         
    ████████  ████████ ▐███████▌ ████████         
    ████████  ████████ ▐███████▌ ████████             





AVAILABLE SPOTS

Members: 0
Full Members: 0
Senior Members: 3
Hero/Legendary Members: 2

(Participants will be enrolled based on their post quality and not on "first come, first served basis")




TWITTER CAMPAIGN SPECIFICS

We are currently looking for a maximum of 60 participants (with followers ranging between 500 & 10000) for this campaign.


FIXED CAMPAIGN RATES

500 - 3000 Followers: 0.0002BTC / week

3001 - 5000 Followers: 0.0004BTC / week

5001+ Followers: 0.0008BTC / week


TERMS & CONDITIONS


1. Twitter account must be at least 5 months old, prior to start of this bounty campaign.
2. Account must have at least 500 real followers, verified via: https://www.twitteraudit.com
3. Locked/Private/Suspended Twitter accounts and tweets will not be accepted.
4. Tweets about Adconity must contain a hashtag #ADconity and this link: https://adconity.com
5. Retweet only the tweets made by Adconity's Twitter Account (https://twitter.com/adconity_com).
6. Minimum of 4 tweets and 2 retweets per week is necessary to qualify for weekly payments.
7. Participants can enroll with 1 Twitter account only. Entries with multiple twitter accounts will not be accepted.
8. Reports must be submitted within every week's timeline. Entries after deadline will be rejected.
9. Always check the list of accepted participants in the spreadsheet. Only accepted participants will be paid eventually.
10. ADConity reserves the right to change the rules or campaign rates at any point of time.


STEPS FOR ENROLLMENT


1. Follow Adconity's Twitter Account: https://twitter.com/adconity_com
2. Fill up the registration form: https://goo.gl/forms/M0woqLzY6GYH13n23
3. Check the spreadsheet to confirm your application status.
4. Submit weekly reports in this thread with the following format:

Code:
Twitter Account link:
Twitter Audit Link:
Week Number:

Tweets:
1.
2.
3.
4.

Retweets:
1.
2.
Report to moderator 
▄▄▄▄
▐████▌
▀██▀
▐▌
▄██▄
▄▄▄▄ ▐████▌ ▄▄▄▄
▐████▌ ▀▀▀▀ ▐████▌
████  ▄▄▄▄  ████
▐████▌
▄▄▄▄        ▄▄▄▄  ▀██▀  ▄▄▄▄        ▄▄▄▄
▐████▌      ▐████▌  ▐▌  ▐████▌      ▐████▌
▀██▀  ▄▄▄▄  ▀██▀  ▄██▄
Bitdonator
Legendary
*
Offline Offline

Activity: 1146
Merit: 1000



View Profile
July 08, 2015, 09:54:51 PM
 #10

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.
pooya87
Legendary
*
Offline Offline

Activity: 1330
Merit: 1105


Buy bitcoin they said... who listened?


View Profile
July 09, 2015, 05:11:45 AM
 #11

Hi everyone

What is the cold storage wallet?

And how to do that?

Thanks in advance.

any wallet that is created on an offline computer (or any other way that does not require a computer) and is kept offline can be called a cold storage.
it is for keeping your bitcoin safe from malware and theft.
depending on what kind of cold storage you want to use, making one can be different. easiest in my opinion is using an always offline computer and generate a wallet with Electrum.
there are step by step tutorials of creating cold storage (different ones) on the internet if you search.

i liked this thread for all the information it has in one place:
https://bitcointalk.org/index.php?topic=858604.0


most likely a hardware wallet is save enough too:

https://bitcointalk.org/index.php?topic=899253.0

but it is not free Wink

chaser15
Legendary
*
Offline Offline

Activity: 1078
Merit: 1005


Make winning bets on sports with Sportsbet.io!


View Profile
July 09, 2015, 04:23:55 PM
 #12

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

So what if the flash drive gone or got corrupted and you don't store any copy of backup in other drive? Does it retrievable?

   ▄▄██████▄▄
  ████████████
███▄▄
 ██████████████▀▀▀██▄
████████████████   ▀██▄
████████████████     ▀██
██████████████       ██▌
██████████████        ▐██
██▌▀▀██████▀▀         ▐██
▐██                   ██▌
 ██▄                 ▄██
  ▀██▄             ▄██▀
    ▀██▄▄▄     ▄▄▄██▀
      ▀▀█████████▀▀





███████████████████████████
████████▀▀       ▀▀████████
█████▀   ▄ ▀███▀ ▄   ▀█████
████  ▄████▄ ▀ ▄████▄  ████
███  ▄ ▀███▀ ▄ ▀███▀ ▄  ███
██  ▄██ ▀▀ ▄███▄ ▀▀ ██▄  ██
██  █▀ ▄█ ███████ █▄ ▀█  ██
██   ▄███▄ █████ ▄███▄   ██
███  ████▀ ▄▄▄▄▄ ▀████  ███
████  ▀ ▄ ▀█████▀ ▄ ▀  ████
█████▄  ▀▀▄ ███ ▄▀▀  ▄█████
████████▄▄       ▄▄████████
███████████████████████████





█▀▀











█▄▄
▀▀█











▄▄█
█▀▀











█▄▄
▀▀█











▄▄█
Muhammed Zakir
Hero Member
*****
Offline Offline

Activity: 560
Merit: 504


I prefer Zakir over Muhammed when mentioning me!


View Profile WWW
July 09, 2015, 04:32:17 PM
 #13

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

So what if the flash drive gone or got corrupted and you don't store any copy of backup in other drive? Does it retrievable?

Cold wallet is not "storing in a USB". Cold wallets means storing Bitcoins in a wallet which is not accessible connected to Internet(completely offline).

No. It is not retrievable but sometimes, you might be able to recover files from your USB stick. I highly recommend you to either create a second(digital) backup or print private keys.

chaser15
Legendary
*
Offline Offline

Activity: 1078
Merit: 1005


Make winning bets on sports with Sportsbet.io!


View Profile
July 09, 2015, 04:35:42 PM
 #14

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

So what if the flash drive gone or got corrupted and you don't store any copy of backup in other drive? Does it retrievable?

Cold wallet is not "storing in a USB". Cold wallets means storing Bitcoins in a wallet which is not accessible connected to Internet(completely offline).

No. It is not retrievable but sometimes, you might be able to recover files from your USB stick. I highly recommend you to either create a second(digital) backup or print private keys.


PC > Offline Wallet (a file) > Flash Drive / Hard Drive > Is this how it goes? So it have a file extension? Damn sorry I have many questions. Sad

   ▄▄██████▄▄
  ████████████
███▄▄
 ██████████████▀▀▀██▄
████████████████   ▀██▄
████████████████     ▀██
██████████████       ██▌
██████████████        ▐██
██▌▀▀██████▀▀         ▐██
▐██                   ██▌
 ██▄                 ▄██
  ▀██▄             ▄██▀
    ▀██▄▄▄     ▄▄▄██▀
      ▀▀█████████▀▀





███████████████████████████
████████▀▀       ▀▀████████
█████▀   ▄ ▀███▀ ▄   ▀█████
████  ▄████▄ ▀ ▄████▄  ████
███  ▄ ▀███▀ ▄ ▀███▀ ▄  ███
██  ▄██ ▀▀ ▄███▄ ▀▀ ██▄  ██
██  █▀ ▄█ ███████ █▄ ▀█  ██
██   ▄███▄ █████ ▄███▄   ██
███  ████▀ ▄▄▄▄▄ ▀████  ███
████  ▀ ▄ ▀█████▀ ▄ ▀  ████
█████▄  ▀▀▄ ███ ▄▀▀  ▄█████
████████▄▄       ▄▄████████
███████████████████████████





█▀▀











█▄▄
▀▀█











▄▄█
█▀▀











█▄▄
▀▀█











▄▄█
Muhammed Zakir
Hero Member
*****
Offline Offline

Activity: 560
Merit: 504


I prefer Zakir over Muhammed when mentioning me!


View Profile WWW
July 09, 2015, 04:39:31 PM
 #15

A cold wallet is basically a wallet that you store offline, so on a usb-stick, hard disk.
By cold wallet it means that no one else but you can access it, so it can't be hacked.

So what if the flash drive gone or got corrupted and you don't store any copy of backup in other drive? Does it retrievable?

Cold wallet is not "storing in a USB". Cold wallets means storing Bitcoins in a wallet which is not accessible connected to Internet(completely offline).

No. It is not retrievable but sometimes, you might be able to recover files from your USB stick. I highly recommend you to either create a second(digital) backup or print private keys.


PC > Offline Wallet (a file) > Flash Drive / Hard Drive > Is this how it goes? So it have a file extension? Damn sorry I have many questions. Sad

What goes?

Three ways are:

 • Storing private keys in a completely offline hard disk and/or USB.
 • Printing or writing down private keys.
 • Memorize private key(s).

chaser15
Legendary
*
Offline Offline

Activity: 1078
Merit: 1005


Make winning bets on sports with Sportsbet.io!


View Profile
July 09, 2015, 04:44:13 PM
 #16


What goes?

Three ways are:

 • Storing private keys in a completely offline hard disk and/or USB.
 • Printing or writing down private keys.
 • Memorize private key(s).

I mean what's those private keys look like when stored in offline hard disk or USB's? Like a file ? So it have file extensions?

Simple copying that "file" to other drive/usb can not became a backup? Or backup must do manually to other drive?

Thanks for the answer.

   ▄▄██████▄▄
  ████████████
███▄▄
 ██████████████▀▀▀██▄
████████████████   ▀██▄
████████████████     ▀██
██████████████       ██▌
██████████████        ▐██
██▌▀▀██████▀▀         ▐██
▐██                   ██▌
 ██▄                 ▄██
  ▀██▄             ▄██▀
    ▀██▄▄▄     ▄▄▄██▀
      ▀▀█████████▀▀





███████████████████████████
████████▀▀       ▀▀████████
█████▀   ▄ ▀███▀ ▄   ▀█████
████  ▄████▄ ▀ ▄████▄  ████
███  ▄ ▀███▀ ▄ ▀███▀ ▄  ███
██  ▄██ ▀▀ ▄███▄ ▀▀ ██▄  ██
██  █▀ ▄█ ███████ █▄ ▀█  ██
██   ▄███▄ █████ ▄███▄   ██
███  ████▀ ▄▄▄▄▄ ▀████  ███
████  ▀ ▄ ▀█████▀ ▄ ▀  ████
█████▄  ▀▀▄ ███ ▄▀▀  ▄█████
████████▄▄       ▄▄████████
███████████████████████████





█▀▀











█▄▄
▀▀█











▄▄█
█▀▀











█▄▄
▀▀█











▄▄█
ikydesu
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500

fb.com/Bitky.shop | Bitcoin Merch!Premium Quality!


View Profile WWW
July 09, 2015, 06:14:52 PM
 #17

-snip-

I mean what's those private keys look like when stored in offline hard disk or USB's? Like a file ? So it have file extensions?

When you export the private key, the file is usually looks like "wallet.dat"


Simple copying that "file" to other drive/usb can not became a backup? Or backup must do manually to other drive?

Thanks for the answer.

Just copying and save the file carefully, and you can import it, https://en.bitcoin.it/wiki/How_to_import_private_keys (actually it's easy step, just go to the wallet, find an import button and choose the file).

CMIIW.
Phix
Member
**
Offline Offline

Activity: 111
Merit: 10


View Profile WWW
July 10, 2015, 08:06:14 AM
 #18

if i have a paper wallet, how can i re-use it online?  Huh Roll Eyes or what is a paper wallet??
notlist3d
Legendary
*
Offline Offline

Activity: 1470
Merit: 1000



View Profile
July 10, 2015, 08:57:18 AM
 #19

if i have a paper wallet, how can i re-use it online?  Huh Roll Eyes or what is a paper wallet??

You can put it in a wallet to use online.   Normally it would be on a paper with private key/qr code.  And yes it can be re-used.  But I would spread money out not just in one.


Here is a example - https://blockchain.info/wallet/paper-tutorial
Phix
Member
**
Offline Offline

Activity: 111
Merit: 10


View Profile WWW
July 10, 2015, 09:00:35 AM
 #20

if i have a paper wallet, how can i re-use it online?  Huh Roll Eyes or what is a paper wallet??

You can put it in a wallet to use online.   Normally it would be on a paper with private key/qr code.  And yes it can be re-used.  But I would spread money out not just in one.


Here is a example - https://blockchain.info/wallet/paper-tutorial
Thank you very much, i understood it now Cheesy
Great link.. cheers.
Pages: [1] 2 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!