Safe way to gift Electroneum (ETN) tokens to your loved ones

in cryptocurrency •  7 years ago 

Hello Steemians!

As a moderately active member of the Electroneum community on Facebook I notice interesting questions. Just last week a gentleman was wondering how he can gift Electroneum to his loved ones.

This post will explain what in my opinion is the safest way to do so. Please read on if interested!

Note: If you have a miner program running on your computer then you don't want to do this from that computer. Follow these steps from a computer that can be turned offline without any impact to your mining activities or anything else.

Summary: The idea is to generate an offline wallet, one per individual that you'd like to gift tokens to, and gift them the details of the offline wallet.

Step 1: Log into the Electroneum website https://www.electroneum.com

Step 2: Click on the 'Offline paper wallet' link on the left nav as shown in the image below. A new tab/window opens based on how you have your browser settings set.

electroneum-left-nav.PNG

Step 3: Read every word on that page and understand every sentence. Read it twice if you have to.

Step 4: Download the offline wallet generator zip file by clicking the link shown
electroneum-offline-wallet-download-link.PNG

Step 5: Extract contents of Electroneum_Offline_Wallet.zip to your favorite location

Step 6: Disconnect from the internet at this point. If you have miners running that you don't want to interrupt, like mentioned before, you'll need go back to step 1 and follow them again from a computer that you can disconnect from the internet.

Step 7: Disconnect from the internet

Step 8: Open the offline_paper_electroneum_walletV1.6.html file on your browser. At the time of this writing the offline wallet generator version is 1.6. It could change depending on when you read this article, but you get the idea.

Step 9: Wiggle/move your mouse to generate randomness for the wallet id, private view and private spend key generation.

Step 10: Once you do that, it generates a pdf file that you can either print or save somewhere. My suggestion would be to not print it. Zip the pdf with a master password and email the encrypted zip to yourself. Do not lose that password!

Step 11: Now it's a matter of keeping that pdf safe. It could be emailed to the gift recipient, with the password sent across in a separate email, preferably to an entirely different email id dedicated to storage of passwords. I give credit to my friend B for that idea. :-)

Step 12: If you'd like to gift a tangible item I'd say purchase a hardware wallet. I recommend Trezor (no I don't get any commission from them :-)) but why I recommend it is because it allows you to store password in there.

Enjoy and 'like' it if you like it. :-)

Any questions or roadblocks, hit me up and I'll be glad to assist!

Steem on!

Best,
psypherious

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Great post, Phani. I am sure some people would find this to be valuable information: I would speculate that perhaps some people haven't even considered it.