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Author Topic: How is it possible to have a bitcoin wallet offline?  (Read 10419 times)

Offline troll

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How is it possible to have a bitcoin wallet offline?
« on: May 18, 2019, 04:02:00 PM »
There are several sites that allows you to create a wallet for bitcoin offline- for extra security
How is this possible? If you are offline then you are not interacting with bitcoin blockchain ...
Does anyone knows how this work ?
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How is it possible to have a bitcoin wallet offline?
« on: May 18, 2019, 04:02:00 PM »

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Offline I-Bit

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #2 on: May 18, 2019, 11:38:46 PM »
I am not too familiar with this. Can you give us some example?

I also think the same as you. It seems not familiar and rarely hears. But I know an offline wallet that provides good security for Bitcoin, It is Segwit. If someone here ever knows about it, I think he will recommend using the wallet. It is also a recommended wallet to use.

Offline pelana vreo

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #3 on: May 19, 2019, 01:27:20 AM »
Hi, you can see this video, because you are asking about an offline bitcoin wallet, I have tried this video tutorial, hopefully it helps.

Offline moonuranus

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #4 on: May 19, 2019, 08:11:18 AM »
It is possible you just need to generate an address, you can search for paperwallet maker for bitcoin then it will generate you an address including the private key, the thing is you can received some payments with the address that you got but you may not be able to send bitcoin unless you import your private key with an online wallet.

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #5 on: May 19, 2019, 07:14:42 PM »
If you want a Bitcoin wallet that is offline, you will need to buy a hardware wallet such as a Trezor or Ledger Nano S. See more.
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Offline dragononcrypto

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #6 on: May 19, 2019, 07:29:07 PM »
There are several sites that allows you to create a wallet for bitcoin offline- for extra security
How is this possible? If you are offline then you are not interacting with bitcoin blockchain ...
Does anyone knows how this work ?

You don't need to interact with the blockchain as the generation of keys and addresses are a specific algorithm (SHA256) using elliptic curve mathemathics to generate the public key (K value) and address (A value). Bitcoin has it's own generic point on this curve to calculate K and A values, as does Ethereum and any crypto coins, while the "small k" value is a randomized point on this curve, for obvious security. To summarize: you don't need the internet (or even a computer!) to calculate mathematics that the Bitcoin blockchain recognizes, as long as you know the point on the elliptic curve to calculate K and A values; public key and address.

Proof of Bitcoin ownership is from the private key only (a type of password), which can therefore be saved on a desktop or online, or simply stored offline.
If you're new, this probably makes no sense, and is one of the most difficult parts to comprehend in my opinion. It took me a long time personally!
« Last Edit: May 19, 2019, 07:34:49 PM by dragononcrypto »

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #6 on: May 19, 2019, 07:29:07 PM »


Offline damsix

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #7 on: May 21, 2019, 03:01:15 AM »
What do you mean by interacting with Blockchain?
Because Bitcoin can't interact if it's already owned by someone and someone that's what makes Bitcoin interact (Deposit or Withdrawl).
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Re: How is it possible to have a bitcoin wallet offline?
« Reply #8 on: May 21, 2019, 07:19:44 AM »
I know of the hardware wallets which are very secured and your bitcoins are safe when you give access to no one. In terms of holding your coins,  it is offline, but when you want to make exchange of your coin, you'll have to be online to have a successful transaction.

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #9 on: May 21, 2019, 09:39:39 AM »
I think the same thing when you want to save bitcoin on an offline wallet, you need an application to use a smartphone if you use a QR code on a paper wallet and internet connection when you want to send from an offline wallet address to an online wallet.
Security on an offline wallet is good because when creating a wallet and the privet key does not require an internet network.

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Offline dragononcrypto

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #10 on: May 21, 2019, 02:29:36 PM »
I know of the hardware wallets which are very secured and your bitcoins are safe when you give access to no one. In terms of holding your coins,  it is offline, but when you want to make exchange of your coin, you'll have to be online to have a successful transaction.

In fact, as of this month, internet is no longer required to send Bitcoin transactions. Given you don't need to be online to create the transaction (you can create the signed transaction offline, which is already quite common), you can now send this transaction via radio waves even. This means sending Bitcoin transactions from cold storage offline for ultimate security is now possible  8)

Offline Watu_pawon

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #11 on: May 24, 2019, 01:55:46 PM »
indeed using an offline bitcoin wallet is there, and usually it is used to store the bitcoin that we have in large numbers and avoid theft.

Offline Felix Felicis

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #12 on: June 21, 2019, 09:54:52 AM »
There are basically two types of offline wallets, namely hardware wallets and paper wallets.
Hardware wallets are devices that store your private keys and are pretty small. But don't go by its size as they are the most secure wallets out of all the other types. To trade your cryptos, you need to link the wallet to a compatible software wallet or exchange.
A paper wallet is literally a piece of paper where your public and private keys are printed.
The main advantage these offline or cold storage wallets have over online or software wallets is that the former isn't connected to the internet (not all the time for hardware wallets). This means that they aren't prone to hacks, viruses or malware and hence your private key remains safe and in turn your cryptos are safe.
You can look at some of the best bitcoin wallets here.

Offline Cryptoz

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #13 on: June 25, 2019, 11:55:16 PM »
Do you mean the hardware wallet instead of the offline wallet? I think that there may be a hardware wallet that will not need the online connection to store your coins and manage it and they are safer. Like ledger or Luno and others? But, I also never use this so that I don't really know about they are really offline or not.
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Offline Purwodadi

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Re: How is it possible to have a bitcoin wallet offline?
« Reply #14 on: June 29, 2019, 02:08:52 AM »
I've also heard about bitcoin wallets offline, but I don't really understand how it works, and I've heard that offline bitcoin wallets are very safe.

 

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