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how to create paper wallet
roboticmhd:
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.
Adelle:
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.
innate:
Thanks for giving information, I truly appreciate your knowledge.
Garden:
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.
Bandys:
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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