Paper / generate my own wallet
Hi friends, Is there any way to create an offline wallet? Create the address and the secret phrases offline so ill be the sole owner of this data?
Thanks in advance :)
Posted Apr 5, 2021, 4:53 PM UTC
814
Use the command line client.
3
Not that strong on the DEV side...
where do i get the CLI? do i just clone the project and build it in linux?
Thanks!
Edit:
download the binaries according to the steps in: https://tezos.gitlab.io/
will use the gen keys option there..
Thanks for the tip!
1
Another question regarding the CLI, do i need an active connection to the internet?
i tried to create new address + secret key,
but then i get " This Account has not been included into the Tezos blockchain yet. " while trying to search the public hash.
(newbie regarding creating and using the CLI)
1
You do not need an active connection to generate a new key. That message is correct. You only generated a new key. You have not put any activity on it, thus it it not part of the chain yet. Once you send it some funds, it will appear. Or, if you execute a reveal operation, that also puts it on the chain. All offline/paper wallets function like this on every chain. The address doesn't exist until activity happens on it.
3
Thanks for the detailed explaination 🙏
1
Use a hardware wallet
1
i have less faith in a hardware wallet, bottom line electronics can die..
1
You can write down the mnemonic and recover the hardware wallet in any software based wallet without issue. The point is to generate the private key offline.
2
The coins aren’t stored on the actual hardware wallet my friend, They’re stored on the blockchain. A hardware wallet is basically just a physical password that you can hold in your hands.
The 12 or 24 word (password) secret key is what unlocks the wallet, anyone who has access to those words can also access the funds associated with the wallet. So even if your hardware wallet burned in a fire or someone stole the hardware wallet from your house, you can simply buy another hardware wallet and input the secret words and your money would be there. Or you can input the secret words on a hot wallet (like trust wallet or exodus) and transfer them to an exchange until you buy a new hardware wallet and then transfer them to the new (set up as brand new with new secret words of course if someone stole your old one or your old words are compromised) wallet.
Edit: and if you input the words on a hot wallet like trust wallet then you need to assume the words are compromised because you inputted them on an online device. Cold storage hardware wallets are secure because the words are never ever broadcasted over the internet. The only time you should ever input them is on the actual hardware wallet device (and this is absolutely the most important information you need to remember and apply about seed words) itself.
2
Thanks for taking the time to expalin in this detail! Im aware of the basic concepts of the blockchain and know that the fund are not stored on the hardware it self.
I have a NIB ledger nano somewhere, will give it a try, thanks a lot 👍🙏
2
Follow question :)
got my Ledger up and running with Tezos and ETH apps.
added a new XTZ account / wallet and got the public address, same for ETH
but i did not get the 24/12 phrase for any of them, i have the initial 24 phrases i got when i first setup the Ledger, am i able to deploy / use the XTZ address on another wallet using the public hash + 24 phrase generated by the ledger @ first setup?
i thought i should get the 24 phrases per public hash per coin no?
1
If you used the 24 words on a different device like a second hardware wallet, your Tezos address would be the (if that’s what you’re asking) same.
If you haven’t sent any coins to the hardware wallet yet, you can always restart the ledger as new and get a new 24 word phrase and start from scratch if you’re worried about anything going wrong. Since you said you have the original 24 words from the initial setup, I assume this was a while back when you set it up? At the least, I would restart the device and make sure those 24 words were written down correctly and you can access the wallet if something ever happened to the device. That way you don’t run in to any problems down the road.
Edit: the only time you ever input the 24 words is when you setup the wallet. You don’t get them with each coin, and you don’t input them or see them ever again until you reset up a hardware wallet.
1
The AirGap wallet and vault might be just what you’re looking for. AirGap Wallet Link
Edit: Not sure this 100% meets your goal, however if you read through its similar in concept to a hardware wallet without needing additional hardware.
thanks a lot, will look into it!