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Author Topic: Offline storage?  (Read 658 times)
juljon18
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July 13, 2017, 04:37:32 PM
 #21

I'm no expert but the coin sits on the block chain and awaits your private key when your ready to purchase something.  It doesn't go anywhere. 
Kprawn
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July 14, 2017, 04:25:53 PM
 #22

Ok I think its best for the money and piece of mind its not worth messing about.

Does anyone have the answer to my other question....... ?

If I send a coin to an offline wallet where does it go? Just hangs about in the either (excuse the pun)? until the wallet comes online again?

The Blockchain actually tracks the ownership of the coins. { very over simplified } The offline wallet only gives you the key to access those

coins on the Blockchain. We do not have banks {centralized entities} with digital ledgers that keep record of who owns what, it is all done via

the Blockchain. This Blockchain is distributed all over the world by people who are running a node. Your private key gives you the access to move

those coins from one person to the other {one address to another} and this is all recorded on the Blockchain.  Wink

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Shiversnow
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July 14, 2017, 05:00:28 PM
 #23

Storing the bitcoins into the offline wallet is quite good, but I'm not sure about the usage of jaxx. This has been quite familiar and making a bigger and better accessibility for all the other altcoins. Offline storage is the best one could use to make the holdings more secure.
Well, storing your bitcoin in offline wallet is like in storing in online wallet. However, in offline wallet also called hardware wallet you need to install it to your computer or laptop. Saving in offline wallet is very and you can a sure that you bitcoin or any coin are totally safe. Lastly, offline wallet has a private key that will help you to keep your bitcoin safe.
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