What's the difference between Offline & Online wallets ?

[Loophole]

My advice on offline wallets is to use Electrum because it's user friendly and secure, I use it for everyday transactions.

if there is no fee? or no fee but can be set by us if you use offline wallets?

You can create zero-fee transactions easily by clicking Tools -> Create Transaction -> From CSV text on Electrum.
Please note that your transaction will likely take longer time to get confirmed.

[1715099737]

1715099737

[Loophole]

Why don't you use a thin client like Electrum then?
You won't need to keep the 24 GB blockchain files on your device.

because I never heard about it 
going to check, if you have a link I take it.

You can find the description on bitcoin.org https://bitcoin.org/en/choose-your-wallet
The homepage for Electrum is https://electrum.org/

[Madness]

Thanks for the useful informations guys , didn't knew that it's possible to make a transaction without fees 

[starflyer]

For the offline wallet - is the information stored on the computer software itself or as a file? Would I be able to back up the wallet (file?) on an external hard drive? Will it appear in Time Machine (should my laptop crash or something)?

Also, if I store my bitcoins offline, does that mean I have to transfer them at home before I can use them for payment somewhere? Or is it meant to just be stored away for long periods?

[Muhammed Zakir]

For the offline wallet - is the information stored on the computer software itself or as a file? Would I be able to back up the wallet (file?) on an external hard drive? Will it appear in Time Machine (should my laptop crash or something)?

Also, if I store my bitcoins offline, does that mean I have to transfer them at home before I can use them for payment somewhere? Or is it meant to just be stored away for long periods?

For first paragraph the answer is Yes. Your laptop may crash if it has poor performance and with that if you install heavy offline wallets like Armory or Bitcoin-Qt. Yes, you will have to transfer at home. There are 2 meanings for offline wallet- wallet used in pc or laptop for daily use and wallet used in a computer which hasn't connected to internet. If you meant first one, then it isn't meant for long periods and the 2nd option can be used for both daily use(very very rare) and long period storage(mainly known as cold storage). You will have to sign a transaction and then push it if you are using an offline wallet(2).

  ~~MZ~~

[dothebeats]

Offline wallets (or cold storage) is used to store large amounts of btc for safe keeping and hodling. This is very useful to many btc hodlers because this  type of wallet is safe (because of the reason that this wallet is not connected to the internet). On the other hand, an online wallet is used to store minimal amounts of btc, usually for spending and moving coins from one wallet to another.

[Muhammed Zakir]

Offline wallets (or cold storage) is used to store large amounts of btc for safe keeping and hodling. This is very useful to many btc hodlers because this  type of wallet is safe (because of the reason that this wallet is not connected to the internet). On the other hand, an online wallet is used to store minimal amounts of btc, usually for spending and moving coins from one wallet to another.

Yes and wallets installed in pc, phone and such devices are also known as offline wallet, and wallets which we can acces only when there is internet are know as online wallets. There is two defenition for both offline and online wallets!

  ~~MZ~~

[dothebeats]

Offline wallets (or cold storage) is used to store large amounts of btc for safe keeping and hodling. This is very useful to many btc hodlers because this  type of wallet is safe (because of the reason that this wallet is not connected to the internet). On the other hand, an online wallet is used to store minimal amounts of btc, usually for spending and moving coins from one wallet to another.

Yes and wallets installed in pc, phone and such devices are also known as offline wallet, and wallets which we can acces only when there is internet are know as online wallets. There is two defenition for both offline and online wallets!

  ~~MZ~~

Haha sorry I haven't stressed about their difference. I've only stated their importance and their uses. Thanks for covering up for me mate ^_^

And to OP, Online wallets are wallets that are always connected to the internet and Offline wallets are wallets that aren't connected to the internet and is used to store large amounts of btc.

[starflyer]

Thanks all! Great info here. I appreciate it. I suppose the only reason I would care to have an offline wallet is because I worry about online accounts being hacked, that sort of thing. There's a little risk in everything I suppose.

[Peter882]

Thanks all! Great info here. I appreciate it. I suppose the only reason I would care to have an offline wallet is because I worry about online accounts being hacked, that sort of thing. There's a little risk in everything I suppose.

Exactly. So it is a good idea to store like 90% of your bitcoin in a cold wallet that is immune to hacking (if done right) and just a small amount of bitcoin in your hot wallet.

[Champ92]

Thanks for the useful informations guys , didn't knew that it's possible to make a transaction without fees 

That is why everybody love bitcoin.