I’m contemplating holding Bitcoin for the long run. I’ve discovered just a few fundamentals concerning the blockchain and BTC mechanisms, however nonetheless unable to discover a full information on how you can safely retailer bitcoin.

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

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

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

  2. I don’t need to use any third get together software program as pockets. Suppose I simply retailer my non-public key on a chunk 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 must retailer along with the non-public key (just like the hashed transaction quantity in transaction_input within the blockchain?) I actually need to keep away from third get together software program as a result of it is likely to be out of date sooner or later, get worn out, and can’t be backed up on a single paper.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 manner. However as of late there are various rumors that a few of them truly don’t generate random keys however can steal your cash (even when generated offline). So websites like bitcoinpaperwallet are a nono.
If you need it without spending a dime, you could find many key turbines on github. You will want some programming abilities to test them. And earlier than comitting to 1 take a look at 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 may 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 manner is shopping for a ledger or Trezor direct from the producers web site.

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

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