Bitcoin Forum
Bitcoin => Bitcoin discussion => Topic started by: roboticmhd on December 27, 2017, 11:21:51 AM
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Hi, I am new here. I have been in crypto world for a month, but only trading on exchange sites. Now I want to go more technical and I have a lot of questions. Hope there are technical people here who have understanding of how crypto works under the hood.
My first question is: How create a paper wallet manually (not using any website or programs), using a paper and pencil. If during this process I need to use sha256() function to calculate hash of something I can do that using a program or advanced calculator that has such function, that is not problem.
How to create paper wallet manually ? I want to know what is means to have a wallet, minimalistically.
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An important part of creating a Bitcoin wallet is ensuring the random numbers used to create the wallet are truly random. Physical randomness is better than computer generated pseudo-randomness. The easiest way to generate physical randomness is with dice. To create a Bitcoin private key you only need one six sided die which you roll 99 times. Stopping each time to record the value of the die. When recording the values follow these rules: 1=1, 2=2, 3=3, 4=4, 5=5, 6=0. By doing this you are recording the big random number, your private key, in B6 or base 6 format.
Note that; You would need to flip the coin more times due to not having the available randomness of 6 sides vs 2. Not sure how many, but the process would be the same.
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Thanks for giving information, I truly appreciate your knowledge.
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It is basically a cold storage which helps to generate your own key for your wallet to work offline as well. As the name suggest it is a print out on the paper or plastic cover. There are many web sources which generate open paper wallets including bitcoinpaperwallet.org.
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Paper Wallet is the way to work offline by generating a key of your wallet in order to print it out on a paper or plastic cover. I think cold storage is the best option to secure your wallet as well, as far as I think. What do you think guys?
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But why do you need paper wallet? Use hardware wallet it more comfortable for using.
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Try cold storage)
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Hi, I am new here. I have been in crypto world for a month, but only trading on exchange sites. Now I want to go more technical and I have a lot of questions. Hope there are technical people here who have understanding of how crypto works under the hood.
My first question is: How create a paper wallet manually (not using any website or programs), using a paper and pencil. If during this process I need to use sha256() function to calculate hash of something I can do that using a program or advanced calculator that has such function, that is not problem.
How to create paper wallet manually ? I want to know what is means to have a wallet, minimalistically.
What is printed on the paper wallet are the private and public keys, usually in QR form, with the latter also serving as the address. You could just copy and paste the keys onto a text document and print that out (erasing the copy on the computer afterwards). Or you could use one of the free web services that generate the printable wallet for you. The key generation is usually done in your browser, so they are never transmitted on the internet. To be safe, you should clear your browser after printing. And never store an image of the paper wallet on your computer or phone.
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But why do you need paper wallet? Use hardware wallet it more comfortable for using.
paper wallet services have a nifty design that you can cut, fold and seal, making them a lightweight and relatively secure form of storing bitcoin offline. You send your bitcoin to the public address displayed on the wallet, and then store it in a secure place.
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Even with paper wallets, you can check your balance at any time using blockchain.info (just type your public key into the search box). And most online wallets allow you to import your paper wallet data. To spend those bitcoin, you will be asked to type in the private key information, or scan the private key QR code (sometimes called the "spend" QR code).
Some good paper wallet generators:
Bitaddress.org and Walletgenerator.net are open-source random address and key generators that uses your browser's JavaScript engine, so no keys are sent over the internet.
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Can you tell me how can i convert my MUSDcoins AND monero TO btc...I NEED HELP.....
All exchangers specified in the list provide the service of exchanging Monero to Bitcoin automatically. You can use our instructions in the FAQ section if you have never exchanged electronic money at our site before and you come across any difficulties with the exchange process.
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[/color]If you cannot find how to exchange the money after you go to the site, contact the exchanger operator (administrator). It is quite possible that no automatic exchange Monero (https://www.bestchange.com/wiki/article-monero.html) to Bitcoin (https://www.bestchange.com/wiki/article-bitcoin.html) is available at the moment and your exchange will be processed manually.[/font][/size]
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Would you also recommend a Ledger Nano S as a Hardware wallet?
Some people swear by it but I'm a little bit skeptical.
Is this really safe? Are there many different types of Ledgers? Which one would you recommend, the Nano S?
Thanks in advance (:
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Thank you for the information! So the Paper wallet seems like the most secure one. But I heard that it pretty complicated to use and is not suitable if you want permament access to the stored bitcoins - is that true? Don't you just have to scan the QR-code inside the wallet? And if you would want another wallet, what additional wallet would make sense? As I am only a beginner I would really appreciate the help, thanks in advance:)
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Hi, in my opinion, paper wallet it the best way to keep your bitcoins safe, I would also recommend using encryption for the paper wallet so that I cloud not be readily understandable.
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I've heard that there's a nice tool to compare available wallets, it's called coinario or sth similar.
Personally, I also would recommend using paper wallets, cause it's the purpose of creating them, to keep cyptocurrencies safe. I suppose there won't be safer place.
bitbud - what kind of crypto are you interested in?
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I'm new here but still don't get why you can't use a computer random number generator? What is the risk
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Just get yourself a secure bitcoin cold wallet (https://www.smartbitcoininvestments.com/#step_2_choose_a_secure_bitcoin_wallet_for_cloud_cold_storage) to keep your Bitcoin safe. A paper wallet can be lost over time or deteriorate while a hardware wallet will digitally encrypt your personal keys.
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I am not exactly someone who is master with these things, but I know something that will help in regard to Paper Wallet (https://cryptolinks.com/paper-wallet). It’s through Cryptolinks, as they have links of everything, including the proper guidance of Paper Wallet and the way towards the top site.
So, I believe these are the type of things that can be extremely helpful and beneficial for a beginner. At least, it is something that helped me. Good luck
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but for what is this paper wallet? can't get the idea of it
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Creating bitcoin wallet is easy or not? If, it's easy? then, any IT company can this for me, as well as how much they charge for the same?
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Don't use paper wallets. They are theoretically more secure but the problem is how to securely generate them.
Can't share links for some reason but here check out the flaws of paper wallets here:
https://en.bitcoin.it/wiki/Paper_wallet
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I am not an expert but I can suggest something that should work very well. And that is Cryptolinks, where all details are available about Paper Wallet (https://cryptolinks.com/paper-wallet), it is something that a beginner must look into.
It is something that benefits greatly, so there is just no way could we skip this. Although it is fair to say that not everyone needs or will be interested, but having knowledge about this is something that can really benefit us in long run.
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I don't know if the paper wallet is the best. Maybe try hardware wallet or cold storage?
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I don't know if the paper wallet is the best. Maybe try hardware wallet or cold storage?
I have been using hardware wallet and this is the best way to keep your coins safe so I agree with you
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hello, you can help me please?? i want to wallet in bitcoint but its not can....
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I don't know if the paper wallet is the best. Maybe try hardware wallet or cold storage?
Yeah avoid paper wallets. Instead use hardware wallets like Ledger. However, be careful of fake Ledger scams like the following:
https://whotookmycrypto.com/ledger-wallet-scams/ (https://whotookmycrypto.com/ledger-wallet-scams/)
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Good tutorial although personally I prefer a hardware wallet. I think it's better.
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Thanks for giving information
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I'll go for the cold storage then. Thanks for the tip.
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You can use website like walletgenerator .net
There are 197 cryptocurrencies supported
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I agree that a paper wallet will be more reliable for long-term storage, but you need to remember that it is inconvenient for trading.
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Paper wallets are one of the highly secured cryptocurrency wallets that are invisible to the hacker’s fishing eye. Many investors out there maintain two types of cryptocurrency wallets for security purposes. A bunch of crypto coins is stored in offline secure wallets like hardware and paper, whereas penny of cryptocurrencies is stored in software wallets for ease-of-use by investors.
Now, let’s get into the creation of this secured crypto paper wallet!
How to create a paper wallet?
A paper wallet is just like the paytm or UPI QR codes available on the retail shop for online payments. Paper wallet comprises of your wallet’s private and public keys in the form of QR code. The public and private keys can be generated as QR codes through websites or trusted resources on the web and can be printed in durable paper or plastic sheets. Once the paper wallet is printed, you must erase the browsing history and vanish the stamps of your wallet keys. This way you can secure your crypto coins in cold storage that is tamper-proof!
For More Connect With Us!
well defined
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Paper Wallet is the way to work offline by generating a key of your wallet in order to print it out on a paper or plastic cover. I think cold storage is the best option to secure your wallet as well, as far as I think. What do you think guys?
I totally agree with you
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Yaa.. paper wallet can be used as an additional place to store your bitcoins not the primary store . As a primary store, cold storage is the safest and best option.
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A Cryptocurrency paper wallet is simply a public and private key printed together. It is an offline wallet, and is usually regarded as a type of “cold storage” (extra-secure storage that does not make contact with the hackable internet), although it has some important differences that make its presence in that category debatable (more on this further down).
As the name suggests, paper wallets are usually made out of paper, although technically they could also be made of plastic or any other substance on which information can be durably printed.
What is printed on the paper wallet are the private and public keys, usually in QR form, with the latter also serving as the address. You could just copy and paste the keys onto a text document and print that out (erasing the copy on the computer afterwards). Or you could use one of the free web services that generate the printable wallet for you. The key generation is usually done in your browser, so they are never transmitted on the internet. To be safe, you should clear your browser after printing. And never store an image of the paper wallet on your computer or phone.
So if you want to create your own cryptocurrency wallet, then visit here for see our wallet demo : https://www.antiersolutions.com/cryptocurrency-wallet-app-development/
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Why mess with your head? Everything is simple, there are services.
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qrcode, did you try it on your own?
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A Cryptocurrency paper wallet is simply a public and private key printed together. It is an offline wallet, and is usually regarded as a type of “cold storage” (extra-secure storage that does not make contact with the hackable internet), although it has some important differences that make its presence in that category debatable (more on this further down).
As the name suggests, paper wallets are usually made out of paper, although technically they could also be made of plastic or any other substance on which information can be durably printed.
What is printed on the paper wallet are the private and public keys, usually in QR form, with the latter also serving as the address. You could just copy and paste the keys onto a text document and print that out (erasing the copy on the computer afterwards). Or you could use one of the free web services that generate the printable wallet for you. The key generation is usually done in your browser, so they are never transmitted on the internet. To be safe, you should clear your browser after printing. And never store an image of the paper wallet on your computer or phone.
But I'm curious, would be n offline wallet as much secured as online one?
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Thanks for share the information with us.
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I use cold storage. Very simple.
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Paper wallet seems to be the best alternative, especially if your saving BTC
But It's not suitable for daily expenses
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A Cryptocurrency paper wallet is simply a public and private key printed together. It is an offline wallet, and is usually regarded as a type of “cold storage” (extra-secure storage that does not make contact with the hackable internet), although it has some important differences that make its presence in that category debatable (more on this further down).
As the name suggests, paper wallets are usually made out of paper, although technically they could also be made of plastic or any other substance on which information can be durably printed.
What is printed on the paper wallet are the private and public keys, usually in QR form, with the latter also serving as the address. You could just copy and paste the keys onto a text document and print that out (erasing the copy on the computer afterwards). Or you could use one of the free web services that generate the printable wallet for you. The key generation is usually done in your browser, so they are never transmitted on the internet. To be safe, you should clear your browser after printing. And never store an image of the paper wallet on your computer or phone.
So if you want to create your own cryptocurrency wallet, then visit here for see our wallet demo : https://www.antiersolutions.com/cryptocurrency-wallet-app-development/ (https://www.antiersolutions.com/cryptocurrency-wallet-app-development/)
Great, thanks for this. I'm considering to use this method
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I believe the paper wallet is the best choice
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Widely-known wallets are not suitable for bitcoins?
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Are you going to build your own crypto wallet? That's a really brilliant thought for startups or entrepreneurs. But it is a long process & takes more effort and needs expert advice. So need a proper plan and coherent roadmap to create a scalable and reliable bitcoin wallet app. If you ask for my opinion, then I would recommend you to join
Creating your own wallet is a very good idea, especially you need to take into account the security parameters and the placement platform.
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Quite interesting and learn from the responses for the thread. Technical analysis is essential when you are in exchange and trading. I also get useful information from the responses.
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Thanks for giving valuable information.
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Thank you very much from me too!
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Paper wallet seems to be the best alternative, especially if your saving BTC
But It's not suitable for daily expenses
Yes, it is best for long term storage purposes.
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I keep my crypto in electrum on my pc. That should be safe enough, right?
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Hodl your coins in a hardware wallet, never use online wallets
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Helpful, thanks
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Hi, in my opinion, paper wallet it the best way to keep your bitcoins safe, I would also recommend using encryption for the paper wallet so that I cloud not be readily understandable.
Totally agree with you
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Creating bitcoin wallet is easy or not? If, it's easy? then, any IT company can this for me, as well as how much they charge for the same?
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A paper wallet is considered an extremely secure way to keep bitcoins safe from cyber-attacks, malware, etc. But it's important to remember that it's not the bitcoins that are being printed out like regular currency. It's the information stored in a bitcoin wallet or digital wallet that gets printed out.
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Thank you for sharing, it was helpful
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Here’s the short way for creating a paper wallet:
1. Go to BitAddress
2. Generate a random private key
3. Click “paper wallet”
4. Choose how many copies you’d like to print out
5. Encrypt the wallet with a BIP38 password (optional)
6. Print and enjoy
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Only through a normal digital agency.
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Keep in mind that with paper wallets, losing that piece of paper is the same as losing your funds.
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Paper wallets should be secured beyond the possibility of loss... like in a safety deposit box at a bank.
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Wallets is definitely something I’m yet to fully understand as currently holding my coins where I purchased them from.
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A paper wallet is said to be a very safe way to keep bitcoins protected from cyber-attacks, malware, and other threats
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It's pretty straightforward to make a paper wallet. Follow the steps below to create one quickly.
1. Visit bitaddress.org.
2. Move your mouse around your screen until the randomness is 100%.
3. Click on Paper Wallet.
4. Choose the number of copies.
5. You can choose to encrypt the wallet with a BIP38 password.
6. Click on generate.
7. Print and enjoy.
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Yeah I own a few coins on exchanged but understand it’s safer to have in your own wallets stored away
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Hi, I am new here. I have been in crypto world for a month, but only trading on exchange sites. Now I want to go more technical and I have a lot of questions. Hope there are technical people here who have understanding of how crypto works under the hood.
My first question is: How create a paper wallet manually (not using any website or programs), using a paper and pencil. If during this process I need to use sha256() function to calculate hash of something I can do that using a program or advanced calculator that has such function, that is not problem.
Try cold storages
How to create paper wallet manually ? I want to know what is means to have a wallet, minimalistically.
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Paper wallet is a copy of your public and private key for your Bitcoins. Paper wallet is one of the best way to secure Bitcoin because it's totally offline. The main benefit is that it's not store digitally, so the risk of hacking is close to none. Making a paper wallet is very easy.
Following are the steps to make a paper wallet:
1 visit paper wallet generator
2 Save the paper wallet as web generator
3 Go offline & click on web archive key generator
4 Print the key using printer
5 save the file on a USB or offline computer
6 Add BIP 38 password for extra level of protection
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Even if it's scrawled on a scrap of paper from your notebook, any public and private key pair can be used as a crypto wallet. However, it is no longer recommended to use paper wallets as a secure crypto storing technique, especially for large amounts of money. As a result, you could want to construct one for fun, curiosity, or as a present. Many people advise merely putting a modest amount of money in a paper wallet, such as $1 or less. You could even make a wallet with nothing in it and still reap the benefits.
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Although there are ways to manually generate a private key, the vast majority of paper wallet creators use a private key generator. Once a private and public key have been created, you are able to print a paper wallet, which because it’s not online doubles as a cold storage wallet. This will include the public and private key you’ve generated, usually as both a string of characters and QR codes.
[/size]Anyone with a paper wallet’s public key can send crypto to it as often as they like. Using the corresponding private key, you can move the crypto balance of the paper wallet into a software wallet. This transfers the funds to a new private key on your software wallet.
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It seems to me that each type of wallet has its pros and cons, and it seems to me that keeping all your money in only one place is stupid, so I have a certain percentage of assets on an electronic wallet and in a paper one
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Thanks for giving information, I truly appreciate your knowledge.
Thanks for sharing this
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I'll take a note. This information will definitely come in handy
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Thanks for giving information, I truly appreciate your knowledge.
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You can use any bitcoin paper wallet generator online to get started. In some cases, ATMs will also include an option to generate one. The site will create your wallet with the corresponding QR codes and keys and once it’s been generated, your data is wiped from the site. I use bitcoin paper wallet, but I have ever, never thought about using it to keep my coins safe.
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- Go through the standard cleaning procedure.
- Connect your computer to a wired or local printer.
- Install paper wallet generation software.
- Go offline.
- Create the desired amount of paper wallets.
- Remove the files after printing. Purge your cache.
- If needed, fill the wallets with crypto.
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cool thing!
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Thanks for giving information, I truly appreciate your knowledge.
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although nothing is 100% safe, hardware wallet provides some security other than any form of crypto storages.
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An important part of creating a Bitcoin wallet is ensuring the random numbers used to create the wallet are truly random. Physical randomness is better than computer generated pseudo-randomness.
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Go to BitAddress. Generate a random private key. Click “paper wallet” Choose how many copies you'd like to print out. Encrypt the wallet with a BIP38 password (optional) Print and enjoy
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I would like to learn more about this way of money because many friends said that this is a good way to earn fast and i need it now
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It’s very easy, you need to go to bitaddress.org, then hover your mouse until the randomness level reaches 100%. Then, you can click the ‘Paper Wallet’ button. You can now enter a number, which will indicate the number of wallets you want to make. After entering the number, click generate and then, print.
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Thanks for giving information, I truly appreciate your knowledge.