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Offline Permie

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How to securely store your BitShares (Paper wallet)
« on: June 21, 2015, 05:08:30 PM »


Hello friends,

I am new to crypto and Bitshares and need some advice.  I have a Windows7 and am trading for Bitshares on an exchange.
I would like to secure my Bitshares in a wallet at this time to send and receive Bitshares.
I am wondering when Bitshares 2.0  and the Moonstone lightweight wallet might happen.  Should I wait awhile for this wallet or install the web wallet now?  I understand that the web wallet is experimental software.  Is it secure?

Thanks.
I would not recommend the webwallet as-is for storage.

Instead, go to https://github.com/xeroc/jshares and make yourself a secure paper wallet (offline).
A paper wallet is a single private/public keypair written on a physical piece of paper.
Funds are sent to the public address.
Funds are spent from the private address. Anyone with knowledge of the private key can spend your money - be careful where you put it.

Here are some step by step instructions, the whole process shouldn't take longer than 5 minutes if you know what to do.

On the right-hand-side of that page (in the middle) is 'Download Zip'. Click.
The file will download as a .rar or a .zip file.
This means that you will need the free software WinRar. (http://www.rarlab.com/download.htm)
Once downloaded, the file should open within winrar.
"Extract" the downloaded files to a known location (desktop?)

Now go to your save-location and open the folder, "jshares-master".
In this folder is a file named "paperwallet".
Open this file.
This will open a webpage displaying a public and private key.
A "refresh" button in the top right allows you to calculate a new address.
Be careful, if you refresh the page or press "refresh" the previous keys will be gone forever unless you have written them down.

Now that you see how it works, unplug the device from the internet and DO NOT reconnect until you are 100% sure you have finished.

Now that there is no internet connection (make sure wifi is off too), refresh the paperwallet webpage a few times to make sure.
Now write down the public and private key twice, on two separate pieces of paper
so that any errors can be found easily and you can store the paper wallet in two locations to protect from housefires/floods etc.
Triple check that you have copied the public and private keys correctly.
Store one paper wallet in a safe place at home, and another with a trusted family member or bury it in a secret location.

DO NOT COPY OR SAVE THE PRIVATE KEY ANYWHERE ON YOUR COMPUTER. This includes ctrl+c - do not do that.
The only place that the keys should be written are on the two (or more) pieces of paper.

Make sure that both paper copies are correct and that you have not compromised your keys by writing them in notepad or something on your pc (DONT DO THAT).

Refresh the paperwallet webpage to get rid of your super-secret keys and then shut down your computer.
When you reboot you can turn the internet on again.

Now you're done! You are now 99.9% secure and this is as far as you really need to go to stay safe :)
These paper wallets are way more secure than the both a webwallet and a client wallet.

If you don't yet own any crypto, buy your bts on an exchange such as https://www.ccedk.com/ and then send the bts to the public key of the paper wallet you have just created!

If you already have bitcoin, then go to https://blocktrades.us/ and choose to trade Bitcoin for BitShares (should be default.)
Paste your paper wallet public key into the appropriate field, click OK and then send your btc to the address displayed.
There is no registration and the bts will be in your wallet as soon as you have one btc confirmation (~10mins).

A note on paper wallets: they behave as a piggy-bank would. You can either drop bts into it as often as you like, or you can "smash" it and spend all the funds at once.
There is no partial-withdrawal.
If you want access to only a fraction of the funds on the paper wallet, you must transfer the remaining balance to a NEW paper wallet - NOT THE OLD ONE.
If you access the paper wallet then your private key is no longer 'cold' as it must be revealed to the internet to spend.
BitShares makes all this easy, so there's no need to worry.

To spend the funds on the paper wallet, all you need to do is import the private key to a internet connected wallet.
This is merely typing in the private key and pressing 'import' or 'sweep'.

You may wish to test this process by creating a paper wallet, funding with a tiny amount, and then making sure that when you "import" your private key again the funds are still there.

==============================================

If you're really cautious then you can do the same process as above, but on a machine that has never before been connected to the internet and has a fresh install of the operating system.

You can download and run a free Virtual Machine and install a fresh version of linux onto it. A VM is a way of running a separate operating system within the OS you already have - e.g its a program that runs on windows, but is a separate environment so is not subject to viruses that may be on the windows host machine.

Download and install https://www.virtualbox.org/wiki/Downloads

While you're waiting for that to download, get your hands on a 32bit linux distro.
http://www.linuxmint.com/edition.php?id=171

You will also need a Virtual CD/DVD program, so that you can run your linux file without bothering to burn it to a disc.
http://www.magiciso.com/tutorials/miso-magicdisc-overview.htm

Once installed, run virtual box and choose "New" in the top left corner.
Quote
Name: linux 123
Type: Linux
Version: Ubuntu 32bit
Tick: Do not add a virtual harddrive

Click "Create"

Open MagicDisc (or other Virtual CD drive), and navigate to "Virtual CD/DVD-ROM" > "Mount" > And select the linux 32bit file you downloaded.

Now go back to Virtual Box, choose the "linux 123" virtual machine you just created and click "start". The program will then boot, choose the linux 123 "disc" and it will boot linux as a fresh install.

Follow the paper wallet instructions as before.
REMEMBER TO DISCONNECT FROM THE INTERNET!
Now you have closed the webpage and the paper wallet has dissapeared, close the virtual machine.
You will be asked to 'Save machine state' or 'Power off machine'.
Saving is basically standby, you want to Power-Off to be sure that all your paper wallet info is really gone.

Enjoy your 99.999% security!
DONT LOSE THE PAPER WALLETS OR LEAVE THEM FOR SOMEONE ELSE TO FIND AND COPY!

I hope that helps!
« Last Edit: June 22, 2015, 11:20:06 PM by Permie »
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Offline Permie

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Re: Instructions on how to securely store your BitShares (Paper wallet)
« Reply #2 on: June 22, 2015, 10:38:33 AM »
Would it also be safe to disconnect from the net, turn off wifi, run the "paperwallet.html", refresh a few times, then screen capture that browser window and save the image directly to a usb stick?
I'm not a security expert by any means so to avoid scaring anyone unnecessarily I'll leave it for someone else to answer :)

Personally I think the hassle of pen and paper is worth the peace of mind
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Offline xeroc

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Re: Instructions on how to securely store your BitShares (Paper wallet)
« Reply #3 on: June 22, 2015, 11:37:24 AM »
Would it also be safe to disconnect from the net, turn off wifi, run the "paperwallet.html", refresh a few times, then screen capture that browser window and save the image directly to a usb stick?
I'm not a security expert by any means so to avoid scaring anyone unnecessarily I'll leave it for someone else to answer :)

Personally I think the hassle of pen and paper is worth the peace of mind
Everything you need to derive a pubkey/privkey pair is in that zip file .. you can safely disconnect or use an offline computer for this ..
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu


Online chryspano

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Re: Instructions on how to securely store your BitShares (Paper wallet)
« Reply #5 on: June 22, 2015, 06:40:45 PM »
If we create some paper wallets now(0.9.2) and we need to import those wallets in BitShares 2.0 when it's ready, all we will need to do is a simple "import private key" or there will be some extra actions to do in order to import those paper wallets?

Offline kenCode

Re: Instructions on how to securely store your BitShares (Paper wallet)
« Reply #6 on: June 22, 2015, 07:20:02 PM »
I think Dan said that your funds need to sit on a Registered TITAN account, not just a key.
"send the funds to yourself" he said.
 
It might not be such a good idea to do cold storage or a paper wallet till 2.0 comes out.
 
Or, do it now, then sweep everything to your main account temporarily for import into the 2.0 system.

Offline karnal

Re: Instructions on how to securely store your BitShares (Paper wallet)
« Reply #7 on: June 22, 2015, 10:40:09 PM »
I think Dan said that your funds need to sit on a Registered TITAN account, not just a key.
"send the funds to yourself" he said.
 
It might not be such a good idea to do cold storage or a paper wallet till 2.0 comes out.
 
Or, do it now, then sweep everything to your main account temporarily for import into the 2.0 system.

Any idea how long we will be able to import the old balances into 2.0 ?
Personally I would prefer to wait until privacy is implemented in 2.0 before making the move.

Offline phillyguy

Instructions on how to securely store your BitShares (Paper wallet)
« Reply #8 on: June 22, 2015, 11:10:30 PM »
Pretty sure funds don't need to be on a registered TITAN account for migration to 2.0.....0.9.2 paper wallet should be fine for migration. Keep me honest however.


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Offline cass

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Re: How to securely store your BitShares (Paper wallet)
« Reply #9 on: June 22, 2015, 11:17:01 PM »
Pretty sure funds don't need to be on a registered TITAN account for migration to 2.0.....0.9.2 paper wallet should be fine for migration. Keep me honest however.

would think same here ..
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Offline Permie

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Re: Instructions on how to securely store your BitShares (Paper wallet)
« Reply #10 on: June 22, 2015, 11:24:55 PM »
I think Dan said that your funds need to sit on a Registered TITAN account, not just a key.
"send the funds to yourself" he said.
 
It might not be such a good idea to do cold storage or a paper wallet till 2.0 comes out.
 
Or, do it now, then sweep everything to your main account temporarily for import into the 2.0 system.
The "send funds to yourself" bit is because in 2.0 every address holding funds will be migrated as a separate account.
Sending to yourself will store all your funds together, so you'll only have one account when migrating to 2.0.

If you're a HODL'er and don't trade I think it's best to keep funds on paper wallets until Cryptonomex announce the 30 day period before 2.0, when you can import them all to one account for easy migration
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Offline xeroc

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Re: How to securely store your BitShares (Paper wallet)
« Reply #11 on: June 23, 2015, 08:07:37 AM »
All funds that are on any address can be imported(moved) to a registered account ..

So .. all fund you put cold now can be imported later into bts2 at any time
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu

Offline m200

Re: How to securely store your BitShares (Paper wallet)
« Reply #12 on: November 07, 2015, 06:22:43 PM »
Hello.  I want to create my fist (test) paper wallet and to import these funs back to BitShares 2.0 (light client).  How can I do that?  I have found paper wallet generator here:

https://github.com/xeroc/jshares

…but these files was published for  0.9 Bitshares version and I am not sure dose it still works for 2.0.


Question No. 2 – How can I send my funs to “BTS3gHRTaJdbYx9UmeJZMHVtwxCmotukFN8N”   BitShares Address format, while my BitShares 2.0  light client in Transfer section says that this is  “Invalid account name”.

Thank you for advice!

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Re: How to securely store your BitShares (Paper wallet)
« Reply #13 on: November 07, 2015, 09:42:42 PM »
I need proper documentation firat .. thewhole procedure changed since we pay funds to accounts only and no longer to addresses
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu

Offline m200

Re: How to securely store your BitShares (Paper wallet)
« Reply #14 on: November 14, 2015, 05:52:24 AM »
I am seeking a way for storing BTS for a longer time.

What would you suggest?

The best way would be to print private keys on paper, but as I understand it is problematic with BTS 2.0 or gives me a recent link how to do that.

I am holding my Bitshares on polonex exchange and Bitshares 2.0 (light client) but do not feel comfortable to put more there because exchange could go down and my everyday computer could get compromised (I can loose passwords) quite easily by spyware or hackers. I am wondering how people with really large sums of BTS are holding them securely. Thank you.

 

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