Bitcoin offline wallets are also know as cold storage and this method is one of the safest ways to store your Bitcoin. The reason for this is because YOU hold your own Bitcoin Private Keys which are essentially the keys to your kingdom. Without knowing the private keys, you are not going to be able to withdraw any money from your bitcoin wallet. This is also why it’s so important to protect your own private keys.
If you are looking to cash in your old Bitcoin wallets to get your Bitcoin Cash converted over, this would be the first step in getting that done.
http://www.blockchain.info to get your Blockchain wallet.
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If you want to create your own Bitcoin offline wallet you can do that at http://www.bitaddress.org
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8 Comments
Great information!! Thanks for sharing!
Awesome. I have a few quick questions if you don't mind? When someone exchanges on binance, say BTC for LTC to purchase another alt coin like ADA for example, are they immediately to store them on a paper wallet or hardware wallet? Or can you leave them for some time on the exchange? I guess what I'm trying to ask is how are these coins making money if they are stored in a "wallet"–wether it be paper, hardware etc..? Do you just buy them on the exchange and then when you're ready to pull out of that particular coin, you then store them? Trying to learn and in the midst of buying my first few coins…
Nice video. Just want to know 2 things:
1) How do Blockchain know and show "public key" match up of an "private key" which is created offline until import sequence?
2) What happens if you don't sweep and import entire paper wallet balance?
Thanks!
Quick video, as a brazilian understand everything. Thanks!
But is that safe to bring your offline private key. To have it online with blockchain. The people who make the site can have access and see your private keys ! Right ?
is it possible to have a private conversation about this?
can a paper wallet (bitcoin) with it's own private key, be loaded directly into a blockchain or coinbase account and then redeemed for the cash value? i am not clear about whether I can use the key from the paper wallet i have or if i have to use the paper wallet info to create an online private key to then be used in either blockchain or coinbase. can someone clarify for me pls? thx
basically i am trying to cash out a bitcoin that is in paper wallet form