Bitcoin has become a major target for hackers who trick unsuspecting clients online. Online storage is not very safe because you are not sure which new technology hackers will invent every time. It’s very painful to lose your lifetime investment to someone else. For this reason it important to keep your Bitcoin Safe offline. We will explain several methods you can use below.
Using a paper wallet
This is one of the cheapest ways and also the easiest ways to keep Bitcoin offline. It simply requires paper and printer. More to paper and printer is the requirement of a website that can allow you to create an offline address. The websites are several like Bitcoin.com and Bitaddress.org.
Steps to creating a paper wallet
Go to Bitcoin.com paper wallet
Save that page as HTML file in your local computer.
Close that page and go offline
You can now open the save file on your computer
Go through the instructions on how to create an address and follow them carefully
Ensure you get a pair of keys and QR codes and then print that page. As you print to ensure that the printer is not connected to the internet.
Your address is created, and you can use it to transfer Bitcoin from wallet to wallet.
It’s important to note that the printed page is very important. You should store it very safe as it’s the regulator of all your Bitcoin investment.
Taking your computer and printer is good for security but not as good as using a clean operating system. Bitkey is a very good safe offline store. It comes with software options like Electrum Bitcoin Client, Bitcoin paper wallet, WarpWallet among others. Creating paper wallet using Bitkey is safer than the existing computer OS.
Steps in creating Bitkey
Go to Bitkey website to download an OS image and download the 64bit version
Choose either USB or CD-ROM.
Burn a cd with the program you love or use Utility like UNetbootin to copy the Bitkey ISO.
Finally, Boot into Bitkey using the computers advanced Boot option
If you have a successful Boot, you can use it to create the paper wallets. With that, it’s now possible to use the Electrum Client to create wallets