Why Offline Bitcoin ?Computer security is hard. Physical security is much easier to accomplish.Using Offline Bitcoin allows you to store your wealth securely in an offline vault. Your own vault that you control physically. You can transfer needed amounts to online wallets on your phone or computer. Bitcoin is just like cash, you should only carry around spending money.
What is an offline Bitcoin transaction ?An offline Bitcoin transaction is one created with a computer that is not attached to the internet (or any network). Assuming the installation process was secure the computer will not be prone to attack from hackers.To create a Bitcoin payment the offline machine can create a Bitcoin transaction which can then be carried by a USB key or other means to a machine that is online and the transaction can be broadcast.
Use the PRO BA.net Bitcoin Vault App Available on the Mac AppStore (Search for BANET) PRO Advantages:
Enter destination address, amount and transaction fee. Cut and paste the resulting transaction to a text file and transfer it to the USB key. Alternatively you can also export it as a \ QR code image.
Double check the destination bitcoin address and amount of bitcoins sent.
Enter the private key from the input bitcoin address to sign the transaction. Now the resulting transaction is ready to be broadcast on the Bitcoin Network. Again you can export the transaction as a text file or as a QR code image. Benefits of Bitcoin Offline TransactionsAt no point in this process is the private key data exposed through the transaction data. Your private key never touches the internet, for maximum security. The biggest threat to an offline wallet is an USB-key virus that executes when plugged in. However, such viruses would have to be highly targeted, and can be mostly mitigated by disabling USB-auto-run on the offline computer. Note that at no point in this process is any private key data exposed through the transaction data. It is perfectly safe to transfer the signed or unsigned transaction via email. The biggest threat to an offline wallet is a USB-key virus that executes when plugged in. However, such viruses would have to be highly targeted, and can be mostly mitigated by disabling USB-auto-run on the offline computer. Take Time to get Comfortable with the ProcessIt is normal to be uncomfortable using new software to store your savings, especially with advanced features. Make a few offline transactions with new addresses/keys and small amounts of bitcoins. After a couple of offline transactions you will be doing them in less than a minute. You will be able to say that you are your own bank!
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