I’m contemplating holding Bitcoin for the long run. I’ve discovered a couple of fundamentals concerning the blockchain and BTC mechanisms, however nonetheless unable to discover a full information on easy methods to safely retailer bitcoin.

  1. Find out how to generate a personal key safely? On-line instruments are clearly undesirable as they may hold a again door on all keys generated. Comparable purpose for any library or packages even they function offline (I can’t examine if these keys generated are actually following some predetermined sequence).

    I can use a random quantity generator on a offline PC. However I’m not an actual ‘hacker’ and have issues on whether or not any programming language can produce really random numbers that can’t be reproduced (or say predicted) on one other PC.

    At present, I can solely consider throwing cube in my room for key producing however that can’t scale.

  2. I don’t wish to use any third occasion software program as pockets. Suppose I simply retailer my personal key on a bit of paper and later switch cash into it utilizing exchanges. Would that be a legitimate transaction and permits me later to spend these cash? Is there the rest I have to retailer along with the personal key (just like the hashed transaction quantity in transaction_input within the blockchain?) I actually wish to keep away from third occasion software program as a result of it may be out of date sooner or later, get worn out, and can’t be backed up on a single paper.

Any recommendation?

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Paper wallets was the most secure method. However as of late there are various rumors that a few of them really don’t generate random keys however can steal your cash (even when generated offline). So websites like bitcoinpaperwallet are a nono.
If you would like it without spending a dime, you could find many key turbines on github. You will want some programming expertise to examine them. And earlier than comitting to at least one check that the keys are generated appropriately. Even I’ve made one in Java at
https://github.com/Johanpmeert/GeneratePrivateBitcoinKey
It makes use of a Intel DRNG to generate 32 random bytes. Or you’ll be able to bypass this by getting into the random bytes your self or by taking any image and taking the SHA256 hash. That’ll be random sufficient.
The most secure method is shopping for a ledger or Trezor direct from the producers web site.

When you have a paper pockets, that is all you want. Non-public and bitcoin handle on the paper. No have to retailer something however that. You may confirm the quantity on it by getting into the bitcoin handle on any blockchain explorer. When you have a QR code that’s even simpler, there’s many apps that scan that and provide the stability.

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