- This topic has 6 replies, 1 voice, and was last updated 1 month, 4 weeks ago by dAn_tHe_mAn7.
- Thursday, July 28th, 2022 at 07:26 #345867BlueIsRetardedParticipant
I want to keep a wallet offline, preferably on paper. I understand that it will be lost if I lose the paper, I’m okay taking that risk, I’d rather that than risk having a wallet on my PC which might one day become infected with malware.
How do I go about making a wallet? What information do I need to write down and what precautions should I take?
Is a seed phrase (the words you write down) the same as a private key? Cause they seem much more user friendly than a private key.
How would I make a wallet that has a seed phrase(if theres ones that don’t)?
Hope somebody can help! Thanks!
Edit: Also is there a way I could have a password on a mobile wallet? So i wouldn’t need to worry if I lose my phoneThursday, July 28th, 2022 at 07:26 #345868dkbowl02
Put it somewhere safe and forget about itThursday, July 28th, 2022 at 07:26 #345869fried_rambutan
Look into a cold wallet. Quick google search should help you start.
Ledger or Trezor are popular options. There are other brands of course.Thursday, July 28th, 2022 at 07:26 #345870SafeMoonJeff
– install a wallet ( for exemple Exodus )
– backup 12 words with a piece of paper
– send small crypto on the wallet ( exemple : ALGO )
– once ALGO received, delete the app
– install the app again and use 12 words to recover
– if you see the ALGO, then you can delete the app once again and forget about it until 2025
Pro tips 1 : recovery words can be used with any compatible wallet ( atomic wallet, trust wallet, metamask to name a few) so even if Exodus does not exist in 2025 you can use another compatible wallet
Pro tips 2 : you can actually use Trust Wallet to “read only” a wallet, this allow you to monitor your wallet see how much crypto you got without having the actual key so you can’t get scam hack or anything
CheersThursday, July 28th, 2022 at 07:26 #345871Linux_goblin
Your coins are on the blockchain.
Who has the private key can move the coins. But anyone can create the private key from the seed phrase so we commonly use to store the seed phrase securely.
There are different wallet types: a software wallet that is installed on a pc, the same that is an android / apple app or the most secure: an hardware wallet like trezor or ledger.
Why the hardware wallet is more secure? Because the private key never leave the device so the personal computer that you use to move coins (from or to) your wallet don’t see it.
If you destroy the hardware wallet you can access the crypto (on the blockchain) from the seed phrase (for this reason is very important that you store securely in an offline way, never type it on a pc or give it to anyone).
One more thing, if you decide tu buy an hardware wallet please never buy it used beacuse someone could have generated a seed phrase and could access your crypto. Always buy from reputable source (producer) and create a new seed phrase (private key) when you first connect it to a computer.Thursday, July 28th, 2022 at 07:26 #345872_J_2xU_
I can’t answer all of you questions, but can offer you some pointers.
– If I were to store seeds/private keys on paper, I’d make sure it was hand written with a good quality pen. I’d store the papers within a couple ziplock bags (one inside the other) as air tight as possible. I’d keep those inside my safe deposit box. A fire/water proof lockbox or small safe works if you’d rather store at home. Superior to paper is metal stamping. Lasts far longer, and you don’t need to worry about it getting wet, or burning up.
– Most mobile wallets you can protect with a pin, password, or even biometrics.
– And FWIW, a cheap laptop dedicated specifically for crypto will minimize your risks significantly. Keep the OS up to date, install some decent antivirus software, get that VPN going, and only access webpages needed specific for you crypto transacting. I only bring this up because you seem to be security-minded. But keep in mind that no plan is 100% foolproof. You just need to find what works best for you.Thursday, July 28th, 2022 at 07:26 #345873dAn_tHe_mAn7
There’s hot wallets and cold wallets, a hot wallet is a wallet that is connected to the internet and a cold wallet is a hardware wallet that isn’t connected to the internet.
What wallet you want depends what crypto you want to store in your wallet and a cold wallet isn’t as user friendly as some hot wallets but it’s safer to store your crypto in a cold wallet. I’d suggest you use a hot wallet first for awhile to get the hang of it and then use a hardware wallet.
You will have two keys, public and private. The best analogy I can give is, it’s like your email account, your have your email address that you give to people to receive emails (public key) and your password to access your email account (private key) the private key is your seed phrase and that is what you will want to write down.
If you want to store BTC I recommend electrum wallet for desktop, for mobile BlueWallet (BlueWallet is really user friendly and easy to use). If you have an old phone you could use BlueWallet on the old phone and put it on airplane mode and power off and it’s basically a hardware wallet.
If you want to store ETH I’d use Metamask for desktop.
If you want to use a cold wallet/hardware wallet I’d suggest Trezor, it stores BTC, ETH and other cryptocurrencies.
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