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Author Topic: What is the cold storage wallet?  (Read 2040 times)
notlist3d
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July 10, 2015, 09:03:43 AM
 #21

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.

Not a problem best of luck with it.  If you do one print it at home and on none networked printer if possible.

After make copies and make sure to keep them safe.
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July 10, 2015, 09:08:41 AM
 #22

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.

Not a problem best of luck with it.  If you do one print it at home and on none networked printer if possible.

After make copies and make sure to keep them safe.
What if our printed paper is lost..?
We will loose all the coins? in it
notlist3d
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July 10, 2015, 09:11:58 AM
 #23

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.

Not a problem best of luck with it.  If you do one print it at home and on none networked printer if possible.

After make copies and make sure to keep them safe.
What if our printed paper is lost..?
We will loose all the coins? in it


If lost and you have no backup it is gone.   You will not have access to it.  This means don't loose them.

Store multiple in safe locations do not have just one.
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July 10, 2015, 09:18:37 AM
 #24


What is the cold storage wallet?


 cold storage wallet keeps all the private-key data on the offline computer, only someone with physical access to the offline computer can can have access to the BTC stored in it.
in general cold storage wallet are offline wallets.


How to do that?

Methods of cold storage include keeping bitcoins:

#1 On a USB drive or other data storage medium in a safe place (e.g. safe deposit box, safe)
#2 On a paper wallet
#3 On a bearer item such as a physical bitcoin.
#4 Online, but on encrypted media where the encryption key is offline.
#5 Use a offline Bitcoin Hardware wallet

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July 10, 2015, 09:28:21 AM
 #25

Basically i understood that Cold Storage Wallet is saving your coins offline, and can be used later on.
We can save it in different mediums.

Right? Smiley
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July 10, 2015, 10:04:44 AM
 #26

Basically i understood that Cold Storage Wallet is saving your coins offline, and can be used later on.
We can save it in different mediums.

Right? Smiley

that is correct.
as long as you made the wallet (private keys) offline and away from any malware with legit software, it can be considered cold storage.
i personally like offline linux on my USB

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July 10, 2015, 10:11:29 AM
 #27

Basically i understood that Cold Storage Wallet is saving your coins offline, and can be used later on.
We can save it in different mediums.

Right? Smiley

that is correct.
as long as you made the wallet (private keys) offline and away from any malware with legit software, it can be considered cold storage.
i personally like offline linux on my USB
How can a malwareaffect my cold storge lol?
notlist3d
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July 10, 2015, 10:13:12 AM
 #28

Basically i understood that Cold Storage Wallet is saving your coins offline, and can be used later on.
We can save it in different mediums.

Right? Smiley

that is correct.
as long as you made the wallet (private keys) offline and away from any malware with legit software, it can be considered cold storage.
i personally like offline linux on my USB
How can a malwareaffect my cold storge lol?

If done right no it can't.  That's the whole point of being offline.  You are not online for malware to get it.

If done wrong, or computer was compromised before making yes you could have issues with malware.
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July 10, 2015, 10:21:03 AM
 #29

Basically i understood that Cold Storage Wallet is saving your coins offline, and can be used later on.
We can save it in different mediums.

Right? Smiley

that is correct.
as long as you made the wallet (private keys) offline and away from any malware with legit software, it can be considered cold storage.
i personally like offline linux on my USB
How can a malwareaffect my cold storge lol?

If done right no it can't.  That's the whole point of being offline.  You are not online for malware to get it.

If done wrong, or computer was compromised before making yes you could have issues with malware.
Please can you explain something more>
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July 10, 2015, 10:56:58 AM
 #30

Basically i understood that Cold Storage Wallet is saving your coins offline, and can be used later on.
We can save it in different mediums.

Right? Smiley

that is correct.
as long as you made the wallet (private keys) offline and away from any malware with legit software, it can be considered cold storage.
i personally like offline linux on my USB
How can a malwareaffect my cold storge lol?

If done right no it can't.  That's the whole point of being offline.  You are not online for malware to get it.

If done wrong, or computer was compromised before making yes you could have issues with malware.
Please can you explain something more>

basically if while you are storing your wallet, the pc is infected, it could infect your usb too, so it will not be safe, next time you will connect it a bad surprise might happen

it is advisable to do a cold wallet in a 100% secure pc, to be sure that you're not infected, you need a secure erase first then, you run the client BEFORE everything else

another trick(i'm actually using this, i find it pretty convenient to fight infection) is to have a small amount in your main desktop, on which you connect your usb, if that small amount is still there, you know at 100% that your pc is safe

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July 10, 2015, 12:19:04 PM
 #31

I agree with paper wallets for OP. Current best option and cheapest.
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July 10, 2015, 01:27:54 PM
 #32

-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"


That's I want to know. So .dat is the file extension. Thanks for the info Sir.


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July 11, 2015, 06:19:52 AM
 #33

-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"


That's I want to know. So .dat is the file extension. Thanks for the info Sir.

No. There is no certain extension for files with private keys. Wallet.dat contains a few other things other than private keys and you will need a wallet which is compatible with that wallet.dat. Therefore, it is better to save private keys in a text file. If you want, encrypt it.

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July 11, 2015, 07:44:05 AM
 #34

-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"


That's I want to know. So .dat is the file extension. Thanks for the info Sir.

No. There is no certain extension for files with private keys. Wallet.dat contains a few other things other than private keys and you will need a wallet which is compatible with that wallet.dat. Therefore, it is better to save private keys in a text file. If you want, encrypt it.

Main wallet is the core wallet that uses wallet.dat .   It's not a bad thing to have on a thumb drive to save.  But defintally keep the private key's.

I personally really like paper wallet's.  They are a great way to store key's offline and in safe places.   They are cold and no online in anyway.
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July 11, 2015, 09:36:38 AM
 #35

Basically i understood that Cold Storage Wallet is saving your coins offline, and can be used later on.
We can save it in different mediums.

Right? Smiley

that is correct.
as long as you made the wallet (private keys) offline and away from any malware with legit software, it can be considered cold storage.
i personally like offline linux on my USB
How can a malwareaffect my cold storge lol?
Malware can infect the computer and have the potential to reduce the randomness when generating the private key (I don't know any malware that can do that however). Even if it is offline, the malware can send the private key once its online.

For the linux part, its pretty much just about preferences. If you're offline, you would be safe regardless of what OS you use as long as the RNG is random.
-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"


That's I want to know. So .dat is the file extension. Thanks for the info Sir.

No. There is no certain extension for files with private keys. Wallet.dat contains a few other things other than private keys and you will need a wallet which is compatible with that wallet.dat. Therefore, it is better to save private keys in a text file. If you want, encrypt it.

Main wallet is the core wallet that uses wallet.dat .   It's not a bad thing to have on a thumb drive to save.  But defintally keep the private key's.

I personally really like paper wallet's.  They are a great way to store key's offline and in safe places.   They are cold and no online in anyway.
Thumbdrives are usually quite fragile and hardware failures can occur. You can easily laminate the private key and it would be quite safe from water and probably wouldn't fade for a long tim.














 

 

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July 13, 2015, 02:52:58 PM
 #36

A "cold" storage wallet, for me at least, is like a savings account at the bank. I don't access it often and it holds most of my bitcoins. It should also be very safely kept for this reason.
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July 14, 2015, 05:54:18 PM
 #37

Cold storage is where a person stores their Bitcoin holdings offline. I don't know what the best method is for putting Bitcoins in cold storage, but there are many different methods.

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July 15, 2015, 01:54:47 AM
 #38

A cold storage is a storage under -0 degres. Grin Grin
Sorry I could not resist.  Grin  

But speaking seriously a cold storage(usb for example) help you to keep a backup of your wallet on a safe place.

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July 15, 2015, 02:18:05 AM
 #39

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

Basically you write/print the sensitive data to a piece of paper.

You can use it online by either entering the private key manually into an online wallet like blockchain.info.

You can import private key from anywhere and that private key must be kept very securely, physically.

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July 15, 2015, 06:26:17 AM
 #40

Cold storage is where a person stores their Bitcoin holdings offline. I don't know what the best method is for putting Bitcoins in cold storage, but there are many different methods.

without going too much in the trouble zone and complicated thing, i would advice for newbie to buy a new hdd or sdd, or do a format/secure erase, and install core before everything, then you have a 100% secure machine on which you can do any cold storage

no need to go to fancy website removing connection or anything like that

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