If you want to put it in a safe without using a service its fairly straight forward. Once you have purchased some BTC through coinbase or any exchange you would transfer/withdraw the coins to your own wallet. Then you are able to dump the private keys which are the password/key to your coins in the blockchain regardless of software changes. These private keys can then be printed/written down/memorized and stored in a safe. You can then import these back into a wallet on any computer in the future. Here is some simple info on the process: http://bitcoin.stackexchange.com/qu...ort-my-private-keys-from-my-bitcoin-qt-client
Thanks for the info! You have both been very helpful. I think im gonna buy a few thru coinbase then have a metal card engraved and throw it in the safe next to the PM`s.
there is a company that makes steel fire resistant cards.... it was listed on Cryptocoinsnews.com a while back. I have a couple Coinkite cards. They are hard plastic like a credit card.
I was/am really intrigued by the idea of crypto currency and the possible importance of it going forward. Really I wanted to understand the process real time. Since I am that way the only thing to do was to buy one BTC and see how it works. Bought through coinbase. And there she sat for a couple weeks. As I began to research and understand more and more it occurred to me that coinbase is no place to store the BTC for what my purposes are. Long term hold. I found Blockchain. I sent my BTC from coinbase to blockchain. The process of setting up the wallet, sending from CB to BC was all of maybe 15 mins. There she sits, backed up physically and storage wise now. Its pretty cool. Whether it works out and BTC becomes a much more integral part of the world wide economic system. Or she just goes away it doesnt matter to me. I had to be involved.
No you didn't. You sent it to your private wallet, BC is a public ledger, not a wallet service. The transaction just showed up there, because it is like a financial ledger, recording all transactions... Yours is an excellent example that even people who like bitcoin doesn't even understand the basic features and workings of the invention. So good luck with the average grandma... But I was glad to help you out...
ahem... in the interest of dispelling FUD and general nonsense.... https://blockchain.info/ https://blockchain.info/about I have a couple of private wallets at blockchain.info as well. (actually, technically they aren't at blockchain.info) "The site began as a Blockchain explorer intended to make it easier for Bitcoin users to study transactions and analyse the bitcoin economy. Shortly after, Blockchain Wallet was launched, the first client side javascript bitcoin wallet providing a secure and convenient way to store and use bitcoins. "
Is this like Where is Waldo? Blockchain according to Wiki: 1.Block chain, sequential transaction database found in cryptocurrencies; see Bitcoin#The_block_chain_ledger 2.Blockchain.info, a Bitcoin wallet service Since previous poster didn't mention the .info part, I win the correctness prize. But thanks for playing...