Here is a great video on how to keep your bitcoin safely offline in a paper wallet. Very important in case the internet goes down! I hope to transfer some steem into bitcoin and eth someday!
Most of my Bitcoin is in six different paper wallets, that are stored in diffent locations (house, storage shed, car, safe deposit box). I'm a big believer in not storing all of your eggs in one basket.
At home, I use a basic fireproof lockbox like you can buy at any Target/Walmart.
They tend to be rated for only a half hour though. Not really sure if that would be long enough, but if my house were to burn to the ground, the less than 1 Bitcoin I have here would be the least of my worries 😅
Good post! Many people getting their first bitcoins need to know this stuff.
When I did this years ago, I bought a used IBM Thinkpad for $100 and that is my paper wallet computer. It is never hooked to the Internet , and the bitaddress.htm file was saved to a USB thumb drive from my regular 'net PC, and said USB was used to launch the paper wallet web page offline on the Thinkpad. The other thing I did is not encrypt my paper wallets. Why? Simplicity... what if my state of mind is different 20 years from now? What password? Where did I put that separate piece of paper? What if there is an issue accessing a suitable decryptor? My way is equivalent to storing cash. Hide it well. You can make your paper wallets fire & water proof by etching the private keys on a piece of metal.
Very interesting! Let me see if I fully understand your method. So the Thinkpad is your offline wallet and the USB thumb drive has the web site bitaddress. The UBS can be used in both the Thinkpad and your PC. This is genius!
Not sure if I agree with not encrypting. Although I do see your reasoning. I think I am going to go with actually printing multiple paper copies as well. As soon as I can things figured out for safe storage.
Most of my Bitcoin is in six different paper wallets, that are stored in diffent locations (house, storage shed, car, safe deposit box). I'm a big believer in not storing all of your eggs in one basket.
Thinking about getting a Trezor too.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Smart! Do you have a suggestion for a water and fire proof container?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
At home, I use a basic fireproof lockbox like you can buy at any Target/Walmart.
They tend to be rated for only a half hour though. Not really sure if that would be long enough, but if my house were to burn to the ground, the less than 1 Bitcoin I have here would be the least of my worries 😅
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Perspective is everything. Thank you for the suggestions!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good post! Many people getting their first bitcoins need to know this stuff.
When I did this years ago, I bought a used IBM Thinkpad for $100 and that is my paper wallet computer. It is never hooked to the Internet , and the bitaddress.htm file was saved to a USB thumb drive from my regular 'net PC, and said USB was used to launch the paper wallet web page offline on the Thinkpad. The other thing I did is not encrypt my paper wallets. Why? Simplicity... what if my state of mind is different 20 years from now? What password? Where did I put that separate piece of paper? What if there is an issue accessing a suitable decryptor? My way is equivalent to storing cash. Hide it well. You can make your paper wallets fire & water proof by etching the private keys on a piece of metal.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Very interesting! Let me see if I fully understand your method. So the Thinkpad is your offline wallet and the USB thumb drive has the web site bitaddress. The UBS can be used in both the Thinkpad and your PC. This is genius!
Not sure if I agree with not encrypting. Although I do see your reasoning. I think I am going to go with actually printing multiple paper copies as well. As soon as I can things figured out for safe storage.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I just found some document fire protection on Amazon! Just have to figure out places to hide it!
https://www.amazon.com/Orion-Fireproof-Certificates-Fiberglass-Waterproof/dp/B06XKGQLVG/ref=sr_1_7?ie=UTF8&qid=1495299001&sr=8-7&keywords=waterproof+fireproof
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit