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How to use private keys to store Bitcoin

Storing Bitcoin's private key is a strategic issue that involves not only technology, but also security. The private key is the sole control of Bitcoin, and it is crucial to keep it properly. It is best to record the private key on paper or remember it in your mind, and avoid storing it in an Internet-connected device or electronic device to prevent theft or damage. The following will detail how to use private keys to store Bitcoin.


Generate private key and address

  • Step 1, prepare the environment: Using a clean or new computer, preferably an Apple computer, please visit the bitaddress.org website.


  • Step 2, generate private key and address: Randomly slide the mouse until the page prompts that the random capture progress has reached 100%. Generate private key and Bitcoin address, for example: Bitcoin address: 1DUxkZhX36KHfwqdcSbXcFgKkWZN1smagk Private key: L2FwbFHsSM7p3axue9XbvJEWTx9ZSZcmgvLrjWWof5YJvTDeEG7Z


  • Step 3, record the private key and address: Write down the private key on a piece of paper, note the corresponding address, and keep it in a safe. It is best to write two copies and keep them in safes at different addresses. Copy and paste the address into a text file or Word document and save it on your computer.


  • Step 4, clear traces: Close the web page and clear the browser cache.


After generating the address and backing up the private key, if you start investing in Bitcoin, you do not need to use the private key during the entire investment cycle. You only need to transfer the purchased Bitcoin to the generated address in time to ensure the ownership and security of the Bitcoin. Use a Bitcoin block browser (such as btc.com) to enter the address to view the entire transfer history and current balance of the address without using the private key.


If you need to transfer Bitcoin, it is recommended to use the Electrum wallet software, import the private key and complete the transfer. Follow the advice of Satoshi Nakamoto, and use each Bitcoin address "only once", that is, clear the address balance after one transfer and do not use it again.


Brain Wallet Technology

When there is no secure place to keep the private key, you can use the brain wallet technology. The specific steps are as follows:


  • Visit bitaddress.org and switch to the "BrainWallet" section.

  • Enter and repeat the "password" to generate the brain wallet address.

  • Record the address and make sure the "password" is strong and complex so that you remember it clearly.

  • BrainWallet generates a private key through the SHA-256 hash value of the "password", so the security of the "password" is crucial.


Through the above methods, you can safely and permanently keep and manage your Bitcoins. Remember, the security of your private key is directly related to the security of your Bitcoins, so be sure to treat it with caution.

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