guides:security:coldwallet
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guides:security:coldwallet [2022/07/14 12:29] – Created Page 178.228.254.54 | guides:security:coldwallet [2022/07/15 10:25] (current) – vleesbanaan | ||
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A cold wallet is the safest way for most individuals to store their cryptocurrencies. The idea of a cold wallet, is that you store your coins in a place that is not connected to the internet. This makes it different from a hot wallet, which is instantly accessible and in sync with the blockchain. | A cold wallet is the safest way for most individuals to store their cryptocurrencies. The idea of a cold wallet, is that you store your coins in a place that is not connected to the internet. This makes it different from a hot wallet, which is instantly accessible and in sync with the blockchain. | ||
- | ==== A simple cold wallet | + | ==== A simple cold wallet ==== |
* Download the latest Chia client installer from the [[https:// | * Download the latest Chia client installer from the [[https:// | ||
- | * Copy the file ChiaSetup-'' | + | * Copy the file ChiaSetup-'' |
* Install the client on the new PC | * Install the client on the new PC | ||
* Make sure that no-one can see your screen. Create a new private key. You will be presented with 24 words, which is called your mnemonic seed phrase. You don't need to copy them yet. | * Make sure that no-one can see your screen. Create a new private key. You will be presented with 24 words, which is called your mnemonic seed phrase. You don't need to copy them yet. | ||
* Go to the '' | * Go to the '' | ||
* Click the '' | * Click the '' | ||
- | * make sure no-one can see your screen. Click the eyeball icon which says "See private keys". Copy this information carefully. Most people copy it to a device that is not connected to the internet, but you can also write it on paper or etch it in wood or steel to make it more durable. | + | * make sure no-one can see your screen. Click the eyeball icon which says "See private keys". Copy this information carefully. |
* Make sure to store it in a safe place; if you lose it, you will never be able to retrieve anything you receive on your cold wallet(s)! | * Make sure to store it in a safe place; if you lose it, you will never be able to retrieve anything you receive on your cold wallet(s)! | ||
* After you are done and checked everything, delete the 24 words from the computed by clicking the bin icon. Then uninstall Chia and remove all related folders. | * After you are done and checked everything, delete the 24 words from the computed by clicking the bin icon. Then uninstall Chia and remove all related folders. | ||
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==== Multisig wallets ==== | ==== Multisig wallets ==== | ||
Multisignature wallets (or multisig, for short), are cryptocurrency wallets that require two or more private keys to sign and send a transaction. The storage method requires multiple cryptographic signatures (a private key’s unique fingerprint) to access the wallet. The most notable disadvantage to these type of wallets, is that all parties need to be aligned when tranfering founds out of the wallet. | Multisignature wallets (or multisig, for short), are cryptocurrency wallets that require two or more private keys to sign and send a transaction. The storage method requires multiple cryptographic signatures (a private key’s unique fingerprint) to access the wallet. The most notable disadvantage to these type of wallets, is that all parties need to be aligned when tranfering founds out of the wallet. | ||
+ | |||
+ | ==== From Cold to Hot wallet ==== | ||
+ | If you want to access your funds again in the future, you can make your wallet " | ||
===Sources=== | ===Sources=== | ||
- | Additional information can be found here | + | Additional information can be found here: |
- | https:// | + | |
- | https:// | + | |
+ | * https:// |
guides/security/coldwallet.1657801789.txt.gz · Last modified: 2022/07/14 12:29 by 178.228.254.54