Trying to get started...

[Marlex]

Hey guys.

OK obviously as I have just joined so my activity is restricted. I have many questions as I'm still trying to get my head around how to buy bitcoins in a reasonably safe way. At the moment I'm also trying to understand how to store the bitcoins, so would like to start with asking people's opinions on this:

https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet

In your opinions, is this a reasonable method of storing bitcoins? Also I don't know what "Bitcoin Linux binary" is.

Thanks in advance for your answers but could you please translate the technical jargon into layman terms as much as possible my knowledge of computers is average at best.

Thanks 

[kolesozw]

https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet

In your opinions, is this a reasonable method of storing bitcoins?

Seems bit complicated and data on USB stick will not last reliably many years.
Paper wallet is easier solution to me

[Jacce]

I'd say start using a normal wallet like bitcoin-qt or multibit, and then use paper wallets if you store lots of bitcoins.

[OTK47]

Here, have a look at this link:

https://bitcointalk.org/index.php?topic=235584.0

I would highly recommend doing this if you are storing for a while, even if it is just a small amount as you don't know what it will be worth soon. The problem with using bitcoin qt etc. alone is that your private keys are generated whilst online. Therefore, it is possible for them to be stolen even if the wallet is encrypted. Armory generates your keys offline and if you do this on an OS that has only touched the internet once to download the program, your bitcoins are about as safe as they can be. Make sure to follow all the steps EXACTLY though. I did it the other day, doesn't take too long and now have peace of mind.

[Marlex]

Thanks for the replies guys I appreciate it  

I was thinking about just getting a bitcoin or 2 and sitting on them for a while to begin with, and see where the wind takes me so to speak, I can kinda see the value increasing a fair amount, certainly if any major companies start using them for transactions, and people create easier and safer ways for the masses to use and store them, I just want to get in there early So I don't need to be able to access them so freely.

I have read about the paper wallets, but it seemed even more complicated than this lol Maybe it was a bad description or I just don't understand it.  

So with this in mind, I would prefer them stored away from the net, so to speak. So if you have any simpler ways of doing it I'd appreciate it.  

Also, I was curious how do you know that you have 1 bitcoin, for example, it's not like having a $100 bill, you know what it is (unless of course it's a decent counterfeit). I'm not sure if I explained that well but hopefully someone will understand  

[MicroGuy]

I'd say start using a normal wallet like bitcoin-qt or multibit, and then use paper wallets if you store lots of bitcoins.

I agree with this! ^^^^^^^^^^^^^^^

[Marlex]

Here, have a look at this link:

https://bitcointalk.org/index.php?topic=235584.0

Thanks mate, it looks pretty complicated am I going to manage that with minimal computer skills?   

I'll give it a go though.

[OTK47]

http://www.youtube.com/watch?v=PGvrai3JxxI

Watch this, step by step guide so just follow exactly what they do and you should be golden!

[coqui33]

New bitcoiners  might want to check out "Getting Started With Bitcoins" at http://backintyme.com/btc01.php, especially topic 4.1 "Security".

[Marlex]

http://www.youtube.com/watch?v=PGvrai3JxxI

Watch this, step by step guide so just follow exactly what they do and you should be golden!

Thanks for the help mate I'm going to try it, I'll get back to you with results 

[OTK47]

Here, have a look at this link:

https://bitcointalk.org/index.php?topic=235584.0

Thanks mate, it looks pretty complicated am I going to manage that with minimal computer skills?   

I'll give it a go though.

I have minimal skills myself, you just have to do exactly what it says and you should be fine. With that said you can just use bitcoin QT but this lets you relax knowing your moneys as safe as it can be.

[bee7]

Never use online wallets for the amounts you can't afford to loose. Yes, use of bitcoin-qt requires some space on your hard-drive, but it worth.