Paper Wallet and Offline Tranaction Generators

 

The absolute safest way to store cryptocoins is through the use of a "paper wallet."  A paper wallet, at its most basic, is a list of public addresses and private keys, printed on a piece of paper.  It can also contain QR codes and other information to help facilitate the use of the wallet, i.e., the recieving and sending (spending) of the coins it contains. 

 

Paper wallets are considered to be so safe becaue a computer can be hacked, but a piece of paper tucked away somewhere safe cannot.  Of course, just like cash, if someone else finds your paper wallet, then they could steal it. 

 

Another common and safe way of storing the information which would be stored on a paper wallet is to save it on some sort of removable media, such as a usb key, or a cd.  This has the advantage of also being unhackable (while the media remain disconnected from a computer) and makes it easy to copy and paste information from the wallet when needed.  Many people save the information in both forms.

 

Another benefit of using paper wallets is that you can avoid the problems often associated with running a software wallet on your computer.  To run the Bitcoin software wallet, for example, requires constantly downloading the Bitcoin blockchain (many gigabytes in size) and can be quite taxing of computational resources.  Using a paper wallet, on the other hand, makes it a trivial task to recieve coins at any address on your wallet. 

 

Getting the coins OUT of your wallet, however, is not quite so simple.  This can be done in two different ways.  The first requires the use of a software wallet, at least long enough to sync up with the coin's blockchain, and then import the private key of the address you want to spend from into the software wallet.  This works well, but it does have the disadvantage that it may take quite a while to sync up, depending upon the length of the blockchain and how much of it you do or don't already have downloaded.  For coins with a rather small blockchain this may not pose much of a problem, but for coins like Bitcoin, with a VERY large blockchain, this could take days, depending upon the speed of your internet connection, and the amount you need to download

 

The second way of spending from a paper wallet is to generate a transaction offline, and then use some free service to actually broadcast the transaction to the blockchain.  This souds complicated and certainly could be a rather complex process if done completely manually, but fortunately we don't have to.  It has become common practice to generate these transactions using javascript programs which work from within all typical Internet browsers.  Using javascript is also the most common method used to generate paper wallets.

 

This page contains links to a number of javascript paper-wallet and offline transaction generators.  While no single one of these does everything, the collection should serve as a quite comprehesive crypto-currency toolkit.  We are adding more as they become available (or as we become aware of them).  Please let us know of any which should be added to this list.  

 

 

Multi-Coin Brainwallet (and Offline Bitcoin Transaction Generator)

 

[online Demo]  [Download as .zip]  [Visit the GitHub page]

 

This is an excellent wallet for dealing with many different types of coins, which is why it is the first one on our list.  Using this wallet you can quickly create addresses for each type of coin which it supports, although one of its limitations is that it only allows you to create one address at a time, unlike some other wallets which can be used to create huge lists of key-pairs.  (One coin wich is not supported by this wallet yet is Darkcoin.  As soon as Darkcoin functionality is made available we will include it in this wallet.)

 

A very unique feature of this wallet is its ablility to generate offline Bitcoin transactions.  (Note that it ONLY generates offline Bitcoin transactions.  It does not have the ability to generate transactions for any other coin.)  It should be noted, however, that although the transactions themselves are generated offline, an Internet connection is neccessary in order to aquire certain information from the Bitcoin blockchain, and also to broadcast the transaction to the blockchain.  (This is done in such a manner that your private keys are never sent over the internet, so they remain safe - with the provision that your computer has not been hacked and being remotely monitored by someone else.)

 

 

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