Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: troll 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 ?
-
There are several sites that allows you to create a wallet for bitcoin offline- for extra security
I am not too familiar with this. Can you give us some example?
-
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.
-
Hi, you can see this video, because you are asking about an offline bitcoin wallet, I have tried this video tutorial, hopefully it helps.
-
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.
-
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 (https://www.no links to other forums/best-bitcoin-wallets/).
-
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 (https://www.oreilly.com/library/view/mastering-bitcoin-2nd/9781491954379/ch04.html) 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!
-
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).
-
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.
-
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.
-
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 (https://www.coindesk.com/bitcoin-coders-send-international-lightning-payment-over-ham-radio), 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)
-
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.
-
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 (https://seo spamnews/top-22-best-bitcoin-wallets-2019) here.
-
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.
-
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.
-
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.
Yes, indeed they are! You won't find any safer wallet than these offline wallets. The reason lies behind this simple fact:
Online wallets, most of the time, store your private keys. These private keys are actually stored on an online server (which you can imagine how safe it'll be).
The thing with offline wallets is that they store your private keys and don't require to be connected to the internet all the time (for hardware wallets). (For paper wallets, it'll never be connected as it's literally a piece of paper).
As most of the hacks and malware and viruses are transferred over the internet, you won't have to worry about them infecting your offline wallets.
-
In fact, as of this month (https://www.coindesk.com/bitcoin-coders-send-international-lightning-payment-over-ham-radio), 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.
Very helpful for this article and this needs extra testing to be safe in Bitcoin transactions using Radio waves.
Indirectly, if radio waves are very risky to be plowed, like in my country, there are many radio waves that are misused for commercial purposes.
-
Having a Bitcoin wallet offline could be a great ideal but I don't know how possible that could be in the blockchain industries for making it available for the security reasons, I think we should campaign for it to be created but if is to be created can it accept all crypto coins I think this offline wallet should be good for crypto exchanges it will be of more help against scammers.
-
I think there is indeed an offline bitcoin wallet for storing your bitcoin, but I don't know too much about offline bitcoin wallets.
-
I would recommend you Trezor. It is the best option for me, hardly see any drawbacks. High level of security, many different kinds of cryptocurrencies support and ability to work offline.
-
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.
Yes, the answer is hard wallets. There are some choices, for the examples are Trezor or Ledger Nano. I think it is already clear enough for the answer to the question above. I suggest OP to close the thread because there are already some correct answers.