Bhinneka News Online: Cold Storage Wallet Protects Your Bitcoins 😎

Hello Subscriber,

Bitcoin continues to break record prices. The safest way to secure your BTC investment is by keeping them in a cold storage wallet, also known as paper wallet (both terms will be used interchangeably).

That means you should store a significant share of your bitcoin (and private keys) offline. Offline storage eliminates the risk of a third-party service provider shutting down and causing you to lose access to your digital cash (think Mt. Gox shutdown in 2014). An offline paper wallet also prevents hackers from accessing your bitcoin. That's because scammers and hackers need the internet to perpetrate their fraud.

Here's how to create cold storage wallet for your bitcoins

#1. Go to Bitcoin.com's free Paper Wallet tool.

#2. After the page loads, turn off your internet / wifi connection; this allows you to create a bitcoin address and private key while disconnected from the web.

#3. Move your mouse and/or type random characters into the text box. The randomness will create a unique bitcoin address (in text form and QR code) and its corresponding private key.

#4. Print 2-3 copies of your bitcoin address and private key. You can place each printed page inside an airlock plastic bag (such as Ziplock bag) to prevent damage from water and other substances.

You should store each copy in a secure location such as fireproof vault, safety deposit box or physical wallet. If your private keys get compromised, the bitcoins stored in the bitcoin address will be at risk of being stolen, so it's important to take good care of them.

#5. Turn back on your internet / wifi connection.

Adding Funds

Scan the cold storage / paper wallet QR code or copy the address. Send the funds. You can check the status of the transaction using a bitcoin block explorer. Check the balance by going to blockchain.info or blocktrail.com. Enter your [paper wallet] bitcoin address.

Recovering Your Cold Storage / Paper Wallet

You can import your paper wallet to a conventional wallet such as the Breadwallet app. If you decide to use the Breadwallet app, you can tap "Scan Private Key" and scan your paper wallet's QR code. Bitcoin stored on the paper wallet will be transferred to your Breadwallet app. This means the funds will be kept on the Bread app -- not the paper wallet.

The Bitcoin Unlimited wallet is another option for importing your paper wallet. Simply follow the instructions at the bottom of this guide.

You should stop using your cold storage wallet / paper wallet after you import your private keys (and funds) to an online, conventional wallet.

Use the Paper Wallet tool and safeguard your bitcoins.

Create Paper Wallet

Disclaimer: It's absolutely critical that you read the wallet's instructions in its entirety so that your funds are properly administered. We cannot take responsibility for any mistakes or surprises that may occur with your bitcoins. Policies or procedures are constantly updated and it's your responsibility to be aware of the consequences of following BTC storage protocols.

Sincerely,

The Bitcoin.com Team

P.S. The Bitcoin.com paper wallet tool generates public and private Bitcoin key-pairs locally through your browser. The tool is open source and the code can be reviewed at any time. Never share your private key with anyone and never publish it online.