What is Bitcoin, its History and Everything you know about Bitcoin | How to Store Bitcoin Offline
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In the last few months, Bitcoin constantly breaking its own records of price in terms of increasing Bitcoin’s value.
• Bitcoin is a new currency that physically not exist.
• Bitcoin offline wallet is safer than online.
• The paper wallet is more safe and easy to access.
In very simple words, Bitcoin is a virtual or cryptocurrency that you can’t touch or see it. You can save your Bitcoin in any internet wallet and use it for purchase purposes in this world of the internet.
History of Bitcoin: Everything you need to know about Bitcoin
Now, Bitcoin has become the valuest currency in the world. ” If the internet is a country then Bitcoin will national currency of that country”. Bitcoin is the world’s first decentralized cryptocurrency that made for our digital world. It was first released in 2009 by Satoshi Nakamoto (named developer but their identity is still a mystery) as an Open source code. In 2009, One Bitcoin is equal to $0.003 but now it becomes the valuest currency.
In April 2020, it becomes $7,000 per Bitcoin and its value is constantly increasing. The first real-world transaction happened in 2010 when a developer bought two pizzas to his son for 10,000 Bitcoin.
Bitcoin is an intimate solution to transaction issues. You can send Bitcoins throughout the world without involving any third party ( bank ). People can simply share their Bitcoin from one Wallet to another and for doing that you have to pay ₹1.67 only. Bitcoin is totally liberated by government rules, banks, and any other authorized agencies.
How to Buy and Sell Bitcoin in India
There are many applications like PAXFUL, WazirX, and CoinSwitch that provide a platform to buy or sell Bitcoins in India. Firstly, you have to find out a trusted and proven platform for Bitcoin transactions. Make sure of these two things that, rating of your client is good or not. Second, the seller should have to active/online recently 2-3 minutes before.
Now, we will talk about selling Bitcoin. You have click on Sell Bitcoin then fill your UPI I’d. Make sure that, you received your payment in the bank account then release your Bitcoins because maximum spams are happened in the selling process so be aware of it. Once you release your Bitcoins it can’t back to you.
Bitcoin is best to buy any merchandise assets from anyone without any third one. Using Bitcoins payments are become easy, safe, and fast thorough out the world because Bitcoins are no barrier to any country. Some investors buy Bitcoins only in hope of big return value. These are some ways through which Bitcoins are exchanged digitally.
How to store Bitcoin Offline in a Cold storage
Bitcoin is your real money that is at stake for some time. We know, it is a digital investment so we have to make sure about its security. In past, Bitcoins faced a lot of hacks and spams. It is time to take an extra step to secure your asset.
Online wallet is the most convenient way to keep your Bitcoins for fast transactions i.e in or out. The online wallet also allows exchanging your money through different alternative wallets like Etherium and Monero. But, one of the safest options is known as “cold storage“, cold storage keeps your Bitcoin away from any internet access and prevent from a hack like issues.
Follow these steps to make your cold storage
• Paper wallet
Using paper and a printer makes the easiest way to store your Bitcoins offline. But, you have to take the help of any website like Bitcoin.com.
Create your Bitcoin’s paper wallet
Step 1: Open the Bitcoin.com website in any browser.
Step 2: Save that file locally on your device and off the internet connection.
Step 3: Open that HTML file and follow the simple instructions on your screen.
Step 4: Once you are done with all instructions, then print the page.
Step 5: Still turn off your internet connection for added security.
Step 6: Now you can use this printed page as a new code to transfer Bitcoins.
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The printed page is your new QR code, so you have to keep it safely like in water or in a fire-proof container. If that now possible then print out multiple papers of the same code and QR and provide it to trusted safekeeping.
WrapWallet is a conclusive address generator and this way, you never have to save your private key physically anywhere. You don’t have to take care of any documents.
Follow these steps to start your WrapWallet:
Step 1: Firstly, you have to visit WrapWallet through any browser.
Step 2: Copy or save your page locally on your device in an HTML file.
Step 3: Copy your HTML file to a USB drive and again copy the HTML file to Bitkey.
Step 4: Using the phone you can scan a public key QR code.
Step 5: Turn on Data and transfer it to a device.
Step 6: Lastly, you have to just shut down Bitkey.
Now, with the help of the WrapWallet address online, you can exchange or transact your Bitcoins simply. Here, we suggest you some best Bitcoin storing Wallet application step by step. Using these applications you can feel safe.