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Author Topic: need to make sure my bitcoin is safe  (Read 1271 times)
godlyitems
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January 17, 2015, 04:11:24 AM
 #21

for me i use blockchain. and until its okay no problem.
but i hate the fee haha  Grin

Using a paper wallet to store your bitcoin is a lot safer, as it is immune to hacking and malware. The only disadvantage is that it is not as convenient as using a hot wallet.

can u explain more to me about paper wallet and hot wallet ?
i dont know about that two. i only know blockchain and mini wallet like faucetbox, microwallet etc.  Grin

You can separate all those wallets into two main types: "cold wallet" and "hot wallet".

Cold wallet is a wallet that is created and kept offline all the time, and paper wallet is a type of cold wallet.
For details: https://en.bitcoin.it/wiki/Cold_storage

Hot wallet is the opposite of that. Since you need to connect to the network to use your blockchain.info wallet, it is a hot wallet.
For details: https://en.bitcoin.it/wiki/Hot_wallet

oh i see, thanks for the explain sir.
for cold wallet if we got bitcoins from faucet or something, so how that cold wallet can update our bitcoins wallet ? bcos it kept offline.

In fact, you don't need to have your wallet online to receive bitcoin.
When you receive bitcoin on your address, the bitcoin is not really located in your wallet but just the transaction is documented on the blockchain ledger. Your wallet contains private keys, which enable you to spend the bitcoin in those addresses whenever you want.

To check your balance, you can use block explorer like blockchain.info and blockr.io.
To spend your bitcoin, you can import your private key to a hot wallet, or sign a transaction in the offline environment (for example, https://electrum.org/tutorials.html#offline-mpk).

ah i see i see, thankss again sir  Grin
thanks for the information.
sakira
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January 17, 2015, 07:14:50 AM
 #22

very careful when dealing with the private key, because my experience, I never exposed to hackers because of the private key. then if you keep in wallet offline do not forget to backup Smiley
samuel999
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January 17, 2015, 07:27:22 AM
 #23

Just use one of those paper wallet calculators offline to check the private key corresponds to a bitcoin address.  Then check the bitcoin address.
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