Moved you post to this topic. Same problem if you scroll up. Hope it helps a bit.
HolyTransaction wallet looks more like an exchange with a wallet-like service than a true wallet.
âWe follow industry best practices and guarantee that your money is safe. We utilize both hot & cold storage.â
I wouldnât wanna entrust an exchange to hold coins. Two words: MtGox Bitfinex.
Furthermore click âAbout Usâ, they donât say who they are. Dodgy.
100% agree. Itâs never safe to trust a third party service, no matter what they say and how well they promise to take care of your coins. This message needs to be repeated over and over, especially for newbies!
How would one go about doing this?
@jm5 when you import your private key in any wallet it computes the public key for you.
@bochaco If I import my private key into for example Omniwallet, it will generate the public key for me but then my private key will be stored on Omniwallet, if I want it back on a paper wallet I will then have to pay transfer fees, yes? Basically I lost my public key and I want to check/verify my balance but I dont want the hassle of transferring, the costs and generating new addresses etc (dont trust myself). Unless necessary of course.
You donât really need to do it, unless you donât trust omniwallet. When you import it, it just uses for generating any transaction (and generate public key), but it doesnât invalidate your paper wallet if thatâs what you mean. You can also remove it right after you get your public address generated.
If you donât trust importing it in omniwallet, you can import it on any other offline wallet in a completely offline computer, then you just grab the public address it generates, and destroy any file created by the wallet afterwards. Then you can just use the public address to watch your balance on omniwallet home page, without even importing it; or you can import it as a watch only address if you prefer.
OK, cool, this sounds easier. To clarify, I import the private key to omniwallet, which will generate my public address allowing me to see my balance, then I delete the private key. In the end I have my balance and I am the sole owner of the private key yes?
Exactly, unless you donât wanna trust omniwallet, but I read many people recommended it here, so I guess itâs fine. I havenât used it either so I cannot comment if there has been any bad experiences with it.
Excellent, thank you.
To clarify, omniwallet is good to transfer your coins, but not for holding your coins (= your private Key). Theres no reason to trust them. Plus, every online wallet provider can be hacked.
Creating a new offline address is the way to go here, and really itâs not that expensive to transfer coins. Roughly 10 ⏠cents only.
Best to sweep the keys to a new wallet then create a new paper wallet. The fees are so insignificant and worth it. Omniwallet can be used as a âwatch-only walletâ for maidsafe. - as in you do not need to send maidsafe or bitcoin to see its value.
OMG, thanks for this intro into crypto confusion, I am so happy I am not the only one quite baffled by the process of buying into this market, I tried to buy one Ether coin, the other night, I gave up when they want photo I.D. etc etc, WTF, im like who are these people that want all my details, I just want to have a go at this. It needs to be easier.
Thank your government for that
I had issues with all the KYC stuff for the longest but eventually sold my soul to Coinbase and Polo just to simplify my life. I dislike struggling more than someone knowing my bitcoin purchase history.
Thanks for the reply, im still thinking about it, dont really want to sell
my soul and all.
There are ways around it but as you get deeper (higher amounts) it gets harder. Perhaps some here may have alternatives but Iâm short on patience and donât like waiting. Initial requirements are not all that intrusive you could look into local bitcoins.
If your money is currently in a bank⌠you already have
Moving into crypto could free you from this, especially once Safecoin is launched (hopefully next year if all goes well), as itâll be completely untraceable by anyone other than you.
@Shazz one easy way to get into crypto is having someone pay you in crypto. So offer to sell something - many people are flush right now in bitcoin and would prefer to not cash out - that would be high in demand like a MacBook. Or if you have a skill - accountant⌠attorney, dog groomer etc, offer it up in exchange for bitcoin. Donât have a MacBook you say? So go buy one from BestBuy with your credit card and find a secure - using escrow- and reputable place to sell it for bitcoin. This is converting fiat currency to bitcoin using an asset sale. Nothing illegal about it. Depending on how you do the exchange, the txid of the bitcoin may have your name all over it but that is no serious consequence. Just the payer knows and whomever they share it with. GL
If you have any amazon vouchers you can also go trade them for BTC on Purse.io. Or you can use a bitcoin ATM (search engine to see if there are any local to you), which only requires you to put cash in and take your bitcoin paper key out. Or you can do âlocal bitcoinsâ and meet someone locally and give them cash for some BTC.
All in all @shazz youâve hit on one of the biggest reasons SAFE could go viral where other cryptos have failed. Once farming starts you wonât need to âbuy-inâ so these barriers disappear. You can just leave your machine on while connected to the SAFEnetwork and youâll be given coins for free in exchange for allowing the network to make use of some of your spare capacity.
If you can put in the effort now you will be ahead of the masses who wonât bother, which could be a very rewarding thing to do if the network becomes popular in the future.