How To Create A Safe Bitcoin Wallet

How to create a safe bitcoin wallet

About BitcoinOv.org

BitcoinOv.org – it’s a simple, convenient and free online Bitcoin Wallet.

Advantages of online wallet BitcoinOv.org:

  1. The funds are safe and under your complete control.
  2. No one can block your account.
  3. Open access to private keys.
  4. Completely anonymous Bitcoin Wallet and does not require identification.
  5. Fast transactions on Bitcoin network.
  6. Full control of the transaction fee.
  7. Instant creation of bitcoin wallet.

To create a bitcoin wallet – just enter your e-mail and password.

Be Your Own Bank, take control of your own money and open Bitcoin Wallet today!

© 2018
BitcoinOv.org – Online Bitcoin Wallet E-mail: [email protected]
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How to create a safe bitcoin wallet

About BitcoinOfficial.org

BitcoinOfficial.org is a simple and free Bitcoin online wallet.

We created a Bitcoin Official wallet in accordance with the principles laid down by Satoshi Nakamoto, the creator of Bitcoin:

  1. The funds are safe and under your complete control.
  2. Open access to private keys.
  3. No one can block your account.
  4. Fully anonymous Bitcoin Wallet, no personal identification is required.
  5. Fast transactions in the Bitcoin network.
  6. Full control over the commission.
  7. Instant registration of a bitcoin wallet.

To create a bitcoin wallet – just enter your e-mail and password.

Be a Bank for yourself, try to open a bitcoin wallet today.

© 2019
BitcoinOfficial.org – Your Bitcoin Wallet E-mail: [email protected]
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How to Make a Paper Bitcoin Wallet

Last updated: 26th February 2019

A bitcoin 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.

Some 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.

What makes paper wallets secure is that they are totally offline (generally known as “cold storage”). They are not within the reach of hackers, and your bitcoin are never trusted to a third party. As long as the paper wallet is secure, your holdings are secure.

But, therein lies the relative lack of security. Someone could find your hiding place, take your printout, spend all the bitcoin associated with those keys, and return the paper, so you would never know.

A more secure version would involve folding the paper so that the private key is hidden from sight, taping the fold with a seal that can’t be broken and replaced (just search for “tamper evident seals,” there are many different providers and models), and making sure that the private key cannot be seen even if the folded paper is held up to the light.

Even that is not particularly secure. What if the folder, drawer or box that you keep it in floods?

Sure, it’s unlikely, but when you’re securing a lot of bitcoin, it pays to think of worst case scenarios (and hey, what with climate change and all…). So, a tightly-sealed plastic bag would help.

How do you protect a paper wallet from fire? I have no idea. Keep it in the freezer? (That definitely would be “cold storage,” he he.)

Also, paper itself is not the most durable of substances. Apart from the obvious risks of fire or water damage, the ink could fade with time, making the keys unreadable. No readable keys, no bitcoin.

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. And moving your mouse around to create entropy and mix up the characters even more is fun. That random sequence is then used to generate your public and private keys, which are displayed on the next screen for printing.

Mycelium offers an original and even more secure way to generate paper wallets, with a USB dongle that you plug directly into your printer. The device generates a paper wallet that automatically gets printed out, without ever having touched your computer.

(Note: specific businesses mentioned here are not the only options available, and should not be taken as a recommendation.)

Creating a Secure Bitcoin Paper Wallet

Last updated: 2/13/19

A paper wallet is a general term given to a piece of paper with a private key (or seed phrase) written on it. It’s considered to be one of the best practices for keeping your private key safe. In this post I’ll explain an ultra secure method for creating a paper wallet.

Post Summary

Here’s the short (non secure) way for creating a paper wallet:

  1. Go to BitAddress
  2. Move your mouse around / type in random text to 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 ��

If you want a more detailed explanation about the process keep on reading. Here’s what I’ll go over:

Don’t like to read? Watch our Video Guide Instead

1. What is a Bitcoin paper wallet ?

Your private key (or seed phrase) should be kept offline in what is known as Cold Storage. A private key is a long, confusing string of random characters, while a seed phrase is a set of 24 random words that allows you to restore your private key.

Simply put, paper wallets mean writing or printing your private key or seed phrase on a piece of paper, instead of saving them on your computer.

Usually this process will be done for the purpose of storing large amounts of Bitcoin. It’s considered much safer than keeping coins on a hot wallet (i.e. a wallet that is connected to the internet).

When storing your Bitcoins on a paper wallet you can only load funds to the wallet. If you want to send those funds you’ll need to import or sweep the paper wallet’s private key to a software wallet in order to get access to your coins.

Here’s how a paper wallet looks like:

2. Creating a paper wallet (simple method, less secure)

Creating a paper wallet is pretty easy, the trick is to secure it correctly. If you just want to see the process in action and don’t care that much about security you can follow this process:

  1. Head over to BitAddress (an open source software for producing paper wallets).
  2. Move your mouse around / enter random text to help generate a random private key.
  3. Once done, choose “Paper Wallet” and print out the results. Your Bitcoins can then be stored through the public address on the left.
  4. You can also add a passphrase to encrypt the paper wallet for additional protection by ticking the BIP38 encryption box.

That’s it! The process literally takes 30 seconds and you have your own paper wallet. You can generate as many addresses as you’d like by entering the amount on ‘Addresses to generate’. The addresses will all be unique and different.

Here’s the whole process in video:

Why is this considered non secure ?

First of all, since you’re connected to the web while doing this, someone may have the ability to see what’s going on on your screen.

Second, if someone was able to hack BitAddress for example, they can collect all of the private keys that people created on the site.

Last but not least, if you’re using Windows you may have been infected with Malware which you are unaware of. This may put your private key at risk as people may be monitoring your actions.

3. Creating a paper wallet (advanced method, ultra secure)

If you’re really serious about safeguarding your Bitcoins you have to make sure you create an ultra secure paper wallet. This process is a bit tedious but it’s worth the effort.

Why is this process considered secure?

  1. You’re not connected to the Internet while producing your private key.
  2. You’re using an “out of the box” operating system which is less prone to Malware.
  3. You are using an offline version of BitAddress so no one can hack this site.

The necessary tools

This process is designed for PCs (Mac tutorial will be coming soon but for now you can get the general idea).

Here’s what you’ll need to download to your computer before getting started. You will also need a brand new (or completely formatted) flash drive.

Ubuntu download (latest version) – The operating system we’ll use

LiLi download (latest version) – A software to install Ubuntu on our flash drive

BitAddress download – The software to create the paper wallet

Step 1 – Install Ubuntu on your flash drive

IMPORTANT: This step will erase everything you have on the flash drive.

  • Open up LiLi and insert your flash drive.
  • Make sure you’ve selected the correct drive (click refresh if drive isn’t showing).
  • Choose “ISO/IMG/ZIP” and select the Ubuntu ISO file you’ve downloaded in the previous step.
  • Make sure only “Format the key in FAT32” is selected.
  • Click the lightning bolt to start the format and installation process

After the process is finished, unzip the BitAdrress file you’ve downloaded in the previous step and copy it into your flash drive.

Step 2 – Go offline and test the printer

At this point you would want to disconnect your computer from the Internet whether it’s Wi-Fi or a LAN connection. Make sure there’s no way remote access can be granted to the computer. When finished, make sure you are still able to print a test page so you’ll know your printer is functional.

Step 3 – Run your computer using Ubuntu from your flash drive

Restart your computer. Clicking F12 or F1 during the boot-up process will allow you to choose to run your operating system from your flash drive (#6 in the image below).

After the Ubuntu operating system loads you will choose the “try Ubuntu” option.

Step 4 – Setup a printer on the Ubuntu operating system

At this point you will want to set up your printer on the Ubuntu OS:

  • Click on System Settings (a monkey wrench and cog wheel icon)
  • Click on “Printers”
  • Click on “Add”
  • Add your printer
  • Print out a test page

Step 5 – Open BitAddress and print your new paper wallet

The final step will be to open the copy you have of BitAddress.org and create a paper wallet locally on your machine.

  • Open private browsing in FireFox (right click -> “Open a New Private Window”)
  • Type in the following in the address bar: file://cdrom/bitaddress.org-master/
  • Click on the link “BitAddress.org.html”
  • Create your paper wallet by moving the cursor around until the number on the top right reaches 100
  • Choose “Paper Wallet” from the menu
  • Choose how many copies you’d like to generate
  • Add BIP38 encryption (optional)
  • Print out your paper wallet

4. Best practices for keeping your paper wallet safe

Once you have your paper wallet you can load funds to it by using the Bitcoin address on the left side. It’s important to keep the private key (on the right side) hidden and discreet.

Here are a few methods you can use to better safeguard your paper wallet:

  • Get it laminated so it doesn’t tear or fade
  • Keep it inside a safe or a location that only you can access
  • Use a device like Cryptosteel to make it disaster proof

An advanced method includes creating several copies of the paper wallet, each holding only part of the private key or seed phrase. For example, creating three partial copies that any two of them can create the whole private key. This way you can leave each copy at a different location and make it harder for someone to obtain your private key if they only stole one copy.

5. Conclusion – You Need Cold Storage

If you’re serious about Bitcoin and want to store large amounts of coins you need to get some form of cold storage. If you have the funds I suggest using a hardware wallet, but if you can’t afford it or want to avoid it for any other reason, a paper wallet is the way to go.

My personal advice is that if you do end up using a paper wallet, take the time to go over the secure advanced method and create an ultra secure one. The extra 30 minutes or so you’ll invest in the process may end up to prove worthwhile.

Have you had any experience with paper wallets? What’s your favorite method for creating it? I’d love to hear about it in the comment section below.

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