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

  1. Easy methods to generate a personal key safely? On-line instruments are clearly undesirable as they could maintain a again door on all keys generated. Related motive for any library or packages even they function offline (I can’t verify 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 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.

    At the moment, 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 social gathering software program as pockets. Suppose I simply retailer my non-public key on a bit of paper and later switch cash into it utilizing exchanges. Would that be a sound 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 I actually wish to keep away from third social gathering software program as a result of it may be out of date sooner or later, get worn out, and can’t be backed up on a single paper.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’d like it without cost, you will discover many key mills on github. You may want some programming expertise to verify them. And earlier than comitting to 1 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’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.

In case you have a paper pockets, that is all you want. Personal and bitcoin handle on the paper. No have to retailer something however that. You’ll be able to confirm the quantity on it by getting into the bitcoin handle on any blockchain explorer. In case you have a QR code that’s even simpler, there’s many apps that scan that and provide the stability.

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