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Author Topic: Offline Cold Wallet  (Read 1268 times)
NorthForty
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March 07, 2014, 01:43:58 AM
 #1

Hello Ladies & Gents,
                  New Bitcoin owner here. I am trying to surmise if I can pull a Bitcoin from Coinbase to an offline wallet such as a data or memory stick. I have looked through the Coinbase site and do not see what is known as a key. How do I obtain this key? Is there an online cold storage wallet that is safe or is the memory stick a good option? I am sure this has been ask before and have tried searching on this forum to no avail. Any help would be appreciated.

Thanks!

 Grin
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cloverme
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March 07, 2014, 01:54:29 AM
 #2

Step 1 - http://blog.coinbase.com/post/51573799308/use-coinbase-to-export-your-bitcoins-to-a-paper-wallet

Step 2 - Print as PDF, save on a USB drive.

Step 3 - Safe deposit box or media-rated fire safe

NorthForty
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March 08, 2014, 05:01:26 AM
 #3

Step 1 - http://blog.coinbase.com/post/51573799308/use-coinbase-to-export-your-bitcoins-to-a-paper-wallet

Step 2 - Print as PDF, save on a USB drive.

Step 3 - Safe deposit box or media-rated fire safe



Thanks for the help cloverme but I do not see this option under account settings. Is it possible that it is no longer available? I would like to do this. Any current Coinbase users see this option under account settings?

Thanks
ffe
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March 08, 2014, 06:49:48 AM
 #4

You could roll one yourself.
Download the Bitaddress web page to your local machine and have it generate a cold storage wallet for you.

Also, see
I modified the Bitaddress Bitcoin Wallet Generator to allow the generation of Scrypt driven brain wallets that are BIP38 protected.

           http://goo.gl/ELvg7S

I modified the original brain wallet tab to use Scrypt and made it easy to copy the resulting Private Key to the BIP38 tab to protect it with a password.  (Incidentally, I also tore out some things I didn't want and changed the randomness pool mixer to make it more thorough.)

The usual caveats about never ever using brain wallets with less than 70 bits of entropy applies. Don't play with fire if you don't know how to estimate the entropy of the passphrase you use!
Download it to your machine, examine the code, run it offline and print your BIP38 protected cold wallets.

I use paper wallets with the Mycelium android client, which can decode BIP38 wallets and spend from cold storage. Mycelium is really nice about destroying the private key after spending from cold storage. Also, I can now keep the paper wallets in my pocket without worrying about losing them since they're encrypted.
Vitamin
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March 08, 2014, 07:17:12 AM
 #5

As much I like Coinbase I would never tell anyone to trust online wallets with their BTC.  First you need to download a wallet on your computer, its not hard really.  Multibit, or Armory would be good.  Then transfer all your BTC to your offline wallet.  Now you can make your PDF backup.  Smiley

A word about Multibit.  It does not, I believe, come with an option to encrypt itself so you would probably want to store it in an encrypted container like a file generated by True Crypt.  I hear there are other encrypted container making software out there too.
rapport
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March 08, 2014, 09:24:21 AM
 #6

Step 1 - http://blog.coinbase.com/post/51573799308/use-coinbase-to-export-your-bitcoins-to-a-paper-wallet

Step 2 - Print as PDF, save on a USB drive.

Step 3 - Safe deposit box or media-rated fire safe



Thanks for the help cloverme but I do not see this option under account settings. Is it possible that it is no longer available? I would like to do this. Any current Coinbase users see this option under account settings?

Thanks

I read somewhere on coinbase that they have temporarily taken down the feature, because they are improving it, so stay tuned.
cloverme
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March 08, 2014, 07:34:27 PM
 #7

Sorry about that, I didn't realize that they took it offline for improvement :|
jeroenn13
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March 11, 2014, 09:35:44 PM
 #8

Step 1 - http://blog.coinbase.com/post/51573799308/use-coinbase-to-export-your-bitcoins-to-a-paper-wallet

Step 2 - Print as PDF, save on a USB drive.

Step 3 - Safe deposit box or media-rated fire safe



Simple but great tutorial Smiley

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odolvlobo
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March 11, 2014, 10:12:11 PM
 #9

Here is another tutorial:

https://blockchain.info/wallet/paper-tutorial

It tells you go to bitaddress.org to generate the paper wallet. There is a risk that the site or your connection to the site might have been compromised. The risk is very low, but you should be aware.

You also don't have to use blockchain.info. You can send BTC directly to the paper wallet from Coinbase.

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