How to Store Bit Coins Offline

Bit Coins Offline

A record of the transaction can be easily conserved along with new units of currency are produced in a form of digital currency by the computational solution of mathematical problems. It operates independently of a central bank. Nowadays, they are breaking their own record price which has been endless for the past few months. From the debate, we come to know that a big stake with bitcoin needs to be safer than ever with their digital investment. After this, bitcoins can have their own wallet. Previously, they have faced lots of multiple hacks. For this, it’s worth to secure your funds.

As we know it has a wallet, an online wallet is the most convenient way to store Bitcoins. It allows transferring money faster in and out of the wallet. It also helps to convert the Bitcoins to cryptocurrencies like Monero, Litecoin, and Ethereum, etc. Among all the methods “cold storage” is the fastest method to transfer them. To set up cold storage we have various steps for your Bitcoin. And these are explained below;

1. Paper wallet

If you want to take your Bit coins not by using net, means offline, then this is the easiest way. In this, we are using paper and a printer. You must create an offline Bitcoin address like Bitcoin.com, Bitaddress.org through a website. For this you have to follow some points which are given below;

  • Go to the Bitaddress.org page or Bitcoin.com paper.

  • Save as an HTML file locally to your computer.

  • After this, you have to close the page and disconnect the interconnectivity from the computer.

  • Now open the local version of Bitcoin.com paper or Bitaddress.org which was saved previously.

  • Please follow the instructions which are given on the page. It helps to create a new Bitcoin address.

  • If you are having the keys or QR codes, print the page. At that time of printing please make sure that your phone is working without any internet connectivity.

  • Now you are able to use the new QR code or public address which helps to transfer the Bitcoins from another online wallet.

When you printed the page you will find a printed page and that is the most valuable piece of document for your investment of Bitcoins. For further protection, you have to keep it safe with you.

2. Bitkey

It is not that much safe by using a clean operating system. It is basically a free bootable Linux distro on which you can write to a USB drive or CD-ROM. It runs live from the memory of the computer. For which, you can eject the drive once it is running. It comes pre-installed with various options like Bitcoin paper wallet, Electrum Bitcoin Client, and wrap wallet among others. It also has a printer, built-in-network, and wireless managers, etc. It is very safe to use the combination of paper wallet with a bit key as compared to the existing OS which is working on your PC. The following steps to be applied;

  • First of all, you have to create the bootable USB/CD by using the Bitkey.

  • Go to the Bitkey website and download the OS image.

  • You have to click the download button to get the 64-bit version.

  • You have to choose between USB and CD-ROM. By default, it is in read-only mode.

  • Connect your CD with your favorite program, or use a utility like UNetbootin to write the Bitkey ISO to a USB drive.

  • By using the advanced boot function of your computer boot into the boot key.

When all the steps are successfully completed, you can use Bitkey for the creation of a paper wallet. You can also use the Electrum client to create an offline wallet. The three operation modes are provided by the Bitkey . This process will be very much convenient. Whenever you choose the mode for maximum security and least satisfaction. Whereas the hot-online mode is used for less security.

3. Wrap Wallet

It is a safer way to store the Bitcoins. It involves a term called a brain wallet. This particular wallet generates an address by using a memorized passphrase. In this method, the private key is not stored anywhere digitally or physically.

Now following are the steps to start the Wrap Wallet;

Go to the website that connects to the Wrap wallet, and makes a note of SHA-256 in the URL.

  • Save that page as an HTML file locally to transfer it to the USB.

  • A Bootable distro was booted up.

  • Now, copy the HTML file over the Bit key.

  • Then you have to open SHA-256 sum wrap.html to verify the SHA-256 sum matches the one from the previous first step.

  • Open that HTML file which was saved locally previously in Chrome/Firefox.

  • Now, generate a passphrase which works on an entropy algorithm, such as One Shell Pass.

  • By using this, you can scan public key QR code with your phone. Then transfer it to a device with the internet.

  • Shut down Bitkey.

Now you are able to transfer Bitcoin to your online wallet. Here, you don’t have to store your private key because it can be generated with Wrap wallet’s website. It is the most popular process to store the Bitcoin offline.

 

Read More Article: How To Use Google Docs Offline

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