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Author Topic: BIP-38 Encrypted Paper Wallet  (Read 453 times)
HK87 (OP)
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January 22, 2017, 06:01:22 PM
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I'm planning too store my bitcoins on a encrypted paper wallet created on bitsddress but before I send any bitcoins to the wallet, I was thinking of testing the encryption.

I was thinking of downloading mycelium on my spare android device, taking it offline and then testing the  encrypted private key.  Once I have I checked the encrypted paper wallet, I would delete it and wipe the phone.  I'm new to all this bitcoin stuff and I wanted to check if there are any disadvantages before I move all my bitcoins.
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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January 22, 2017, 06:12:45 PM
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I can understand testing out any new technology, but I would still use a new wallet/key combo for sending your main stash. Even though you will wipe your phone, your private key was still potentially exposed to the internet.
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January 22, 2017, 06:19:07 PM
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Only disadvantages I could see on a paper wallet is not being able to spend your coins on a daily basis but I assume you already know that and you want to store for long term. I however wouldn't try the decryption though , at least not a phone, Bitaddress is tested by multiple users and Its open source so I don't see why It won't work . Your phone could already have a malware so testing and wiping everything couldn't change much in that case.
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