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 the right way to safely retailer bitcoin.

  1. The way to generate a non-public key safely? On-line instruments are clearly undesirable as they may maintain a again door on all keys generated. Related cause for any library or packages even they function offline (I can not examine if these keys generated are in actual fact 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 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 anything I have to retailer along with the non-public 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 I actually wish to keep away from third occasion software program as a result of it is perhaps out of date sooner or later, get worn out, and can’t be backed up on a single paper.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 lots of 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 will discover many key turbines on github. You may want some programming expertise to examine them. And earlier than comitting to at least one take a look at that the keys are generated accurately. 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 possibly can bypass this by coming 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.

You probably 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’ll be able to confirm the quantity on it by coming into the bitcoin handle on any blockchain explorer. You probably have a QR code that’s even simpler, there’s many apps that scan that and provide the stability.

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