Saturday, July 20, 2019

A Better Alternative: How To Store Your Bitcoins On A USB Stick

Hardware wallets such are Ledger and Trezor are known to cost about $59 and over $100. If you’re looking to cut the cost or you’re out to experiment, then you can create your own Bitcoin wallet on a USB. The steps are quite simple and it comes with the advantage of letting you pay less for the same level of security.

Another advantage of using a hardware wallet is that it is less susceptible to attack since it is not connected to the internet. It is also not on a smartphone or computer where your private key can be stolen using malware or the funds are entirely lost due to bugs on the wallet itself.

So, do you feel up to the task of putting on your Einstein’s glass and trying something cool today? Then let’s create our very own Bitcoin USB wallet. If you do not have a USB at the moment, about $2 can get you a cheap device whose level of operation is acceptable.

How to Create a Bitcoin Wallet on a USB Drive

To create a secure Bitcoin wallet on a USB drive, you’ll need the following:

  • A computer running on a Windows, Mac, or Linux operating system
  • A USB drive with an operating system installed on it
  • A Bitcoin hardware wallet

Step 1: Create a USB Wallet From Your Computer

  • Use a computer which is running on either the Windows, Mac or Linux operating system to carry out the process.
  • On your computer, download the Electrum wallet or any other hardware wallet of your choice.
  • Plug in your new USB into your computer and install an operating system (Ubuntu or Tails) on it. This step is optional but it adds an extra layer of security to your wallet and prevents it from being vulnerable to a malware attack.
  • After creating your bootable USB stick, safely remove it from your computer
  • Disconnect your computer’s internet connection.
  • Reboot the system and do not turn on the internet connection
  • Next, insert the USB again
  • Install the Electrum wallet or whichever you had downloaded directly to the USB’s drive.
  • Create a new wallet on it and generate the password
  • Ensure you have copied down the password to enable you to gain access to the wallet
  • You can then eject your USB and you’ve successfully created a wallet on it
Related Article:  Digital Currency Exchanges’ Cookies Snatched by Mac Malware

Keep in mind that the flash drive is now holding a private key that will enable you to spend your Bitcoin and as such, it should be used solely for the purpose and not for the storage of other data.

Step 2: Send funds from the new wallet:

  • Disconnect your computer from the internet
  • Insert your USB to it again
  • Generate a Transaction from the private key file
  • Eject the USB
  • You can then connect your computer to the internet and send the generated transaction.

Now that you know how to make a USB wallet to store Bitcoin and other cryptocurrencies, you can perfect the act and see how many of such wallets you can create. Nonetheless, those from manufacturers like Ledger can provide a higher level of functionality given that they come with a screen and buttons.

More Articles

Will Ripple (XRP) Fall within SEC’s Classification of Securities?

Though there is no express declaration that cryptocurrencies are security by the SEC, there is a heated debate as to whether Ripple (XRP), which...

Coinbase Donates Bitcoin to Refugees in its 12 Days...

Coinbase, a Californian-based cryptocurrency exchange began a "12 days of Christmas" event on December 10 and it will run till December 21. The company...

Irish Start-up Plans To Solve Airport Problems Via Blockchain

We all know how irritating it is when flights got delayed and postponed for passengers in the airport. Another thing is the hassle and...

Floyd Mayweather And Dj Khaled Sued For Alleged Crypto...

Boxer superstar, Floyd Mayweather and well-known rapper and producer Dj Khaled were sued for an alleged involvement in a cryptocurrency fraud that started when...

Brave Browser Hits Another Milestone With 4 Million User...

Brave browser hits 4 million users. The information on the new achievement is revealed through the tweet shared by Brendan Eich, the founder of...

New Hampshire Lawmakers File New Crypto Tax Payment Bill

Lawmakers of New Hemisphere pitched a new crypto tax payment bill. The bill was pitched earlier this month which its approval would enable state-level...

BitGive Announces Partnership with University Of Edinburgh and New...

A charitable bitcoin organization named BitGive has announced that new charity project is currently being planned as well as a partnership with a university...

Bitfinex Cryptocurrency Exchange Now Functional After Hours of Downtime

Bitfinex, a Hong-Kong based cryptocurrency exchange on February 9 experienced a 2-hour downtime. The exchange publicized that they are aware of the issue and...

11/25/2018: Skynet

The internet of things is a buzzword that many devs took for their products. However, there is a lack of meaning in this word....

Ripple Partners with Madonna to Help Children in Malawi

Madonna, the famous singer, has struck a welcome partnership with Ripple to donate and raise funds for millions of orphaned children in far Africa,...

How to Invest Your Bitcoin Cryptocurrencies

If you own a fraction or a whole Bitcoin, then you can either store it till its value increases, use it to...

Latest Articles

Couple Pays For Breakfast Using Bitcoin, Community Finds This...

A Reddit user by the username u/portageco recently made a post in bitcoin's official subreddit. In his post, u/portageco boasts about how he paid...

Australian Woman Leads Adoption, Tours 10 Countries Spending Cryptocurrencies

Who says you can't go around the world spending cryptocurrencies? As many believe, cryptocurrencies are only good for speculations. But with a little research,...

Did A Physical Bitcoin Just Sell For $99k On...

As at the time of reporting, the listing on eBay had closed. This could be because the seller got a buyer or he decided...

Litecoin Now Approved In 30,000+ Stores

As cryptocurrencies gain ground, more and more technology-based firms find ways to incorporate the nascent technology into everyday life. Moon, prior to this time,...

Facebook Libra Coin did what you all wanted, and...

I think we need to take a step back and look at what’s really happening here… The primary issue with the entire Cryptocurrency industry is...

How To Shop on Amazon with Bitcoin – Step-By-Step...

Wondered how to shop on Amazon with bitcoin? Then here's how you can purchase goods on one of the largest e-commerce websites that ships...

How To Buy Bitcoin On Coinbase – Step-By-Step Guide

Buy Bitcoin on Coinbase instantly in the U.S., UK, Canada, or anywhere you are globally. Coinbase cryptocurrency exchange has enabled its customers buy the...

Grayscale Bitcoin Trust Boosts By 300%, Affects Oil &...

The institutional investment product, Grayscale Bitcoin Trust (GBTC), experienced a growth of more than 300% due to its outstanding performance since February, Forbes reports....

How To Create A Coinbase Account – Step-By-Step Guide

Create a Coinbase account with ease. Use this illustrative guide to create a Coinbase account for buying, selling, and storing cryptocurrencies. And you know...

$9.2 Trillion Transferred Using Bitcoins In 2.5 Years

Against present belief that bitcoin is only used for speculation, James McDowall, a crypto investor and advisor shared a metric about Bitcoin that's been...

Malware Posing as Movie File Manipulates Results and Steals...

A new form of malware posing as movie file was discovered last year and was designed to steal cryptocurrency and inject manipulated results into...

No-fee Mobile Trading App Quantfury Increases Crypto Support with...

The no-fees mobile trading app Quantfury has been expanding its crypto services lately, most notably with the addition of the DASH cryptocurrency. The coin...