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July 26, 2017, 05:44:53 PM |
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Hello,
I am new to bitcoin, but have done some intense studying lately, and I have come to the conclusion that when it comes to managing your bitcoins it boils down to a trade-off between security and convenience - you can either keep your bitcoins very safe (cold storage, paper wallets...) or very convenient (exchange, online wallet...), or maybe something in between.
I have an idea of how to be blend the two aspects so that my handling of my bitcoins is easy, as well as safe. Now, I find my plan kind of simple and obvious, so maybe I am missing some important aspects. I would very much appreciate any input on my strategy, and feel free to point to any weaknesses it might have.
My idea is as follows:
1. Create a handful of bitcoin addresses via bitaddress.org and store the private keys safely off-line.
2. Load the addresses with bitcoin.
3. Import the addresses into my Blockchain online wallet (keeping the private keys to myself).
That's it. Now I have full control over my bitcoin because I keep control over the private keys, but I also have the convenience of an online wallet where I easily can see the balances of the various addresses in my local currency, and whenever I want to spend bitcoin I just supply my private key for the transaction. If necessary, to make things easy, I don't see much of a problem keeping some minor sum with the addresses supplied by the Blockchain wallet.
So, again, am I missing something?
/sven
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