Where and how do you store your Maidsafe tokens?

Beginners
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Hi guys, i’ve created this topic for newbies so they can have clear the best option to store Maidsafe in and how to do it.

So which wallet do you use, what’s the most secure but at the same time the easiest for moving Maidsafe tokens?
And which steps do you need to follow in order to store them?
Hope it can be useful!

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I am sure this has been covered countless times in this forum. Just send them to a BTC address for which you have the private key. go to omniwallet.org and enter your BTC public key to see your MAID. If you want to send somewhere else, you will need to set up a wallet at omniwallet.org and import your private key.

PS I think you will need a small amount of BTC at that address to cover charges.

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Let’s cross the steps to make it clear…

  1. Go on Bitadress and create offline a paper wallet
  2. Send the amount of Maid tokens to the paper wallet adress
  3. Check on Omniwallet the balance of tokens reassure yourself
  4. (When you want to change them with Safe) Create a wallet on Omniwallet and export the private keys of the paper wallet and send the tokens to another offline wallet

Is it right?:wink: In which address do i need to store a little amount of BTC? So in which step do i need to do it?

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You need BTC in the same address are your MAID, and it isn’t needed until you want to move the coins. This is because transferring MAID is ultimately a BTC transaction, so you need to pay BTC transaction fee with BTC.
The process for converting to SAFEcoins (your step #4) is not yet known or defined.

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Thanks a lot! Just one more question
Exporting private key (of paper wallet) = Transaction ?

Mmmh I thought it was not the same…

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The private key is what proves you own those coins. In order to make a transaction, you need to have the private key in the wallet so that the transaction can be signed.

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No, it basically just means writing down the password :slight_smile: the private key is like a password to send coins with, and bitaddress shows it to you when you create the wallet

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Thanks for the answer @whiteoutmashups @drehb Yeah i know what the private key is, sorry for misunderstanding :slight_smile:. I was wondering why you have to put little amount of BTC in the paper wallet address if you just can export private keys to omniwallet.
That’s why i asked exporting private keys = transaction :wink: You have to pay fees for transaction but what about exporting p.k.?

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That is always free AFAIK. It is just the wallet id swapping over really. Watch though exporting to another wallet does mean 2 copies are around. If you update the password on the new one the old one still has your same password etc.
[edit, I mean if a wallet was ever exposed/insecure then it is always insecure, so any doubt transfer the coins from one to another instead of importing pk where possible (you need to import PK into omni wallet/core to see maid there and send]

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The idea with a paper wallet is that you can generate your keys offline, and keep them stored offline until you are ready to spend/move the coins. To move the coins, you need to do a Bitcoin transaction. This requires 3 things: a) your private key. b) BTC to cover the transaction fee. c) a Bitcoin or Omni client to broadcast your transaction to the Bitcoin network. So you don’t need to touch your private key or have BTC in the same address as the MAID until you want to move the MAID.

Edit: I should have actually said 4 things, and broke the client requirements into 2 - a client to sign the transaction and a client to broadcast the transaction. They don’t have to be the same, which allows you to do offline transaction signing

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I use Exodus wallet. I send the MAID to the BTC address in the wallet. It’s compatible. The balance won’t show in the wallet so can check your MAID balance by using the OmniChain explorer site.

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