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Author Topic: [Guide] Create an Offline Wallet For Bitcoin and Altcoin Only Use 1 Paper  (Read 186 times)
DroomieChikito
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October 05, 2019, 02:46:58 AM
Merited by bones261 (4), hugeblack (1), ryzaadit (1), bitmover (1), DireWolfM14 (1), notblox1 (1)
 #1

When you create paper wallet use bitaddress.org, that's for bitcoin only.
So How to Create a paper/Offline Wallet For Bitcoin and Altcoin Together such Ethereum, Litecoin, Doge, Dash, etc?
The answer is Iancoleman, Download bip39-standalone.html and save it on D disk Or outside your PC like Flashdisk, CD or anything else.
Don't forget to verify Signature -- How to Verify signature? here electrum wallet verify the signature as an example

After you downloaded, Disconnect your internet and open bip39-standalone.html [depends what browser do you use]



You can see :



----Step----



1. Generate 12 or 24 seed
2. Choose your language
3. 12/24 seed [private, only you]
4. Passphrase [Optional, but be careful when input it, together with seed write it on paper]
5. BIP39 seed
6. Coin
7. Derivation Path >> Legacy, Segwit Address



[A and B] WRITE YOUR 24 SEED ON PAPER DON'T KEEP IT ON PC, FLASH DISK OR OTHER DIGITAL.




You have the address begin with 1 derivation path 44, copy your address.
for the private key, you can ignore and also save it.
At this point you have seed.

Here example for derivation path 49 - address begin with 3.. and path 84 - address begin with bc1...





Generate address Ethereum



1. Choose Ethereum
2. select path 44




Generate address Litecoin
Path 44 address begin with L...



Litecoin address path 49 begins with M ...





So at this point, you have 12/24 seed you own bitcoin, ethereum and litecoin address. You can generate coins you want more than that.
You can receive those coins and offline.
question is how to send it?

1. Bitcoin
You can use Electum and Verify the signature before.
here TUTORIAL: How to use Electrum

2. Ethereum
go to https://www.myetherwallet.com
click software >> Mnemonic Phrase >> insert seed

3. Litecoin
[https://electrum-ltc.org/]Electrum Litecoin[/url] and verify signature before.
Here how to use electrum litecoin

4. Trezor
https://blog.trezor.io/learn-about-trezor-recovery-seed-offline-backup-fe235873c69f



Do With Your Own Risk


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October 05, 2019, 04:55:36 AM
Merited by Welsh (4)
 #2


verifying signature in this case is slightly different. unlike Electrum, here you don't have signature of the file to verify so you don't use the file in your process. instead you use the message that is provided on top of the signature which is a starting message string plus the sha256 result of hashing the file. then you have to hash the file using SHA256 and check that hash with the hash in message.

P.S. if you want to use that tool you should also first verify if it is using good entropy source to generate the random seed phrase. it seems to be doing that but i've never used it for anything but testing and although i think it does it correctly but since it is not such a popular tool for "generating" seeds you may want to verify that.

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October 05, 2019, 12:01:01 PM
Merited by bones261 (4), vapourminer (1), hugeblack (1)
 #3

I think this website is amazing for educational purposes. It is also very good for recovering forks or lost funds through private keys.

If you can really create an airgapped computer, or if you are using just a small amount of funds, you can use it to create a wallet as well, just like  you pointed out. But this isn`t recommended for newbies, and many things can go wrong (a newbie may have difficult following your tutorial or in recovering funds from change, etc)

For high amounts of funds, I think it is safer to use a multi currency wallet. The best option would be a hardware wallet, no doubt.

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October 05, 2019, 11:13:18 PM
 #4

P.S. if you want to use that tool you should also first verify if it is using good entropy sources to generate the random seed phrase. it seems to be doing that but I've never used it for anything but testing and although I think it does it correctly since it is not such a popular tool for "generating" seeds you may want to verify that.
I am used, it seems good for me. Just a small balance.
What popular tool for generating seed?

I think this website is amazing for educational purposes. It is also very good for recovering forks or lost funds through private keys.
Thanks, that's I mean to write this thread for education.
I read many times people here recommended Iancoleman site for recovering since this tool was good from me to making multi-address only 1 software.



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October 06, 2019, 04:25:28 AM
 #5

P.S. if you want to use that tool you should also first verify if it is using good entropy sources to generate the random seed phrase. it seems to be doing that but I've never used it for anything but testing and although I think it does it correctly since it is not such a popular tool for "generating" seeds you may want to verify that.
I am used, it seems good for me. Just a small balance.
What popular tool for generating seed?

just using it is not enough, you have to check the code and see what it is doing. it is written in JavaScript and i have no knowledge of it, otherwise i would have reviewed it already.

stick to wallets that are popular and have been peer reviewed many times by others so there is very little chance of having any bugs in their RNG system, seed generation,... eg. Electrum for bitcoin. of course your options are practically non-existent if you want multiple coins.

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October 10, 2019, 10:40:38 AM
 #6

The article seems confusing for me. I feel it is better to use an offline hardware wallet to store Bitcoins and other altcoins. It is easy to use a multicurrency wallet than a paper wallet.

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October 10, 2019, 11:25:37 AM
 #7

Hello, I had create a wallet around 2014 then could be recovery by Mnemonic. Im not understand on system as well but there's Mnemonic given by Blockchain.com, but those Mnemonic could be coverted to methode above then get the same address?

because i need help to recovery my account blockchain though 17 Mnemonic, but only shown my Identifier and password without email registered. I can't open the wallet due I need to confirm 2fa email to verifying login.

 
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October 10, 2019, 11:31:35 AM
 #8

The article seems confusing for me. I feel it is better to use an offline hardware wallet to store Bitcoins and other altcoins. It is easy to use a multicurrency wallet than a paper wallet.
Yes, for sure hardware wallet still the best for stores multicurrency only 1 hardware like ledger and trezor.
Maybe I have bad English for making easy for a beginner, but you should learn it and know how to use it. this for restore or repair when your hardware wallet is broken.
I have some article: https://forkdrop.io/using-ian-colemans-bip-39-tool

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October 10, 2019, 11:50:16 AM
 #9

Hello, I had created a wallet around 2014 then could be recovery by Mnemonic. Im not understand on system as well but there's Mnemonic given by Blockchain.com, but those Mnemonic could be coverted to methode above then get the same address?

because i need help to recovery my account blockchain though 17 Mnemonic, but only shown my Identifier and password without email registered. I can't open the wallet due I need to confirm 2fa email to verifying login.
The mnemonic phrase from 2014, I think isn't working for iancoleman or electrum.
You have 17 words, not 12 or 24 words. You should go to Blockchain.com support.
https://bitcointalk.org/index.php?topic=2541771.msg25918950#msg25918950
https://bitcointalk.org/index.php?topic=2541063.0

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Welsh
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October 10, 2019, 12:00:33 PM
 #10

P.S. if you want to use that tool you should also first verify if it is using good entropy source to generate the random seed phrase. it seems to be doing that but i've never used it for anything but testing and although i think it does it correctly but since it is not such a popular tool for "generating" seeds you may want to verify that.
This is an important point. Its all well, and good verifying if its coming from the correct source, and hasn't been modified, but if the way it handles entropy isn't up to standard its not going to get you anywhere. Even with reputable tools like this I would recommend everyone using  them to create sensitive data to validate everything, and look at how it deals with entropy at a base level. Read up on the different pros, and cons of using such a tool, and only then decide whether you're comfortable with setting up a wallet/private key using this method.

The article seems confusing for me. I feel it is better to use an offline hardware wallet to store Bitcoins and other altcoins. It is easy to use a multicurrency wallet than a paper wallet.

They each have pros, and cons associated with them. Generally these are the cons of each method:

Paper wallets:
- Can be lost, damaged, and stolen.
- Very complicated to make for beginners.
- Not suitable for a hot wallet.

Hardware wallets:
- Require hardware, therefore there's a cost.
- Hardware can fail/corrupt.
- Can be stolen, lost, and damaged.

Both methods are probably fine in most cases.

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November 12, 2019, 12:10:27 AM
 #11

Shamir backup seed

Shamir Backup is a method of splitting the seed into multiple unique shares

You can split your mnemonic seed use iancoleman, https://iancoleman.io/shamir39/ Download and generate seed offline

This is a prototype.
This tool should only be used for experiments.
There are no alternative implementations, meaning you are totally dependent on this tool if you use it. That is a dangerous situation to be in.


example



1. Generate 12/24 seed
2. BIP39 Mnemonic [SEED]
3. Split Parameters, Allow reconstruction with 3 of 3 parts. This is for 3 people/unique shares, when you want to generate for 5 people, you can change parts into 5 and allow construction with 5 too.
4. Shamir39 Shares, shamir39-p1 for you keep
5. Shamir39 Shares, shamir39-p1 for people 2/your son,daughter
6. Shamir39 Shares, shamir39-p1 for people 3/Wife



Combine 3 parts to get SEED

Scrool down



1. Insert your Shamir39 Shares



2. Insert your son Shamir39 Shares



3. Insert your Wife Shamir39 Shares



You have a SEED, then you can use for Bitcoin and altcoin.

Do With Your Own Risk

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