Buying crypto currencies safely for technophobes.

[Jed653]

Hi,

First post. There's only so much you can google on this stuff!



 I've managed to figure out that there's this thing called a wallet generator like the one at bitaddress.org where you can go and create an off line wallet using ubuntu. There seems to be something similar for litecoin at litecoin.org


So generating just an address and a key on paper will be enough for someone to go to an exchange and start to trade in those two currencies right ? No large "chain" needs to be downloaded, correct me if i'm wrong.

What i'd like to know is - can i also just generate an address and key for other crypto currencies in the same manner without any dowloading of anything else. If so, where do you go to generate an address and key for them ?


Jed

[manoamano]

So generating just an address and a key on paper will be enough for someone to go to an exchange and start to trade in those two currencies right ? No large "chain" needs to be downloaded, correct me if i'm wrong.

What do you mean?
If you have an address, you can send and use it to receive coins.


But you don't know if the transactions are processing or not without downloading/accessing the blockchain

[Jed653]

So generating just an address and a key on paper will be enough for someone to go to an exchange and start to trade in those two currencies right ? No large "chain" needs to be downloaded, correct me if i'm wrong.

What do you mean?
If you have an address, you can send and use it to receive coins.


But you don't know if the transactions are processing or not without downloading/accessing the blockchain

Thanks for reply! wow. instant.

Er....what i mean is when i looked at some of the alt currencies sites they seemed to want me to download something substantial probably like you say the block chain. But at this stage all i want to do is generate some addresses and keys for currencies safely off line. After that i don't mind dowloading blockchain if that's needed to check transactions. I guess i'm taking it one step at a time at the moment focusing on creating some addresses. Is it possible for now just to create alt currency addresses and later to download the chains when required ?

J