Transfer from Exchange Web Wallet to Cold Storage Wallet

Bitcoin Questions and AnswersCategory: General questionsTransfer from Exchange Web Wallet to Cold Storage Wallet

Harvey asked 11 months ago

How do I build a cold storage wallet to transfer my bitcoins from my exchange web wallet?

Steven Hay replied 11 months ago

Hi Harvey,

Did my response later in this thread answer your question? Let me know how it goes with BitKey, if you decide to use it… It’s somewhat complicated but should offer the best possible security, besides a hardware wallet.

2 Answers
Zsofia Elek answered 11 months ago

Hi Harvey, we have gathered the best Bitcoin wallets on the market into one article, a couple of them also has reviews. Check them out and choose one which suits your needs the best. 

Harvey replied 11 months ago

I had already viewed that article. It tells me the types of wallets.
It does not tell me how create the storage wallet.
How do I get the password and wallet address so I can transfer bitcoins from the exchange web wallet to the new wallet. I intend to store the wallet on a thumb drive stored in a bank vault.

Steven Hay answered 11 months ago

Hi Harvey,
 
It’s always a good idea to store your bitcoins securely. However, if you’re relatively new to Bitcoin, I would tend to recommend a hardware wallet over creating your own cold storage wallet. A hardware wallet will make the process easier and more secure, and they’re available for under $100.
 
We have a review of the two most popular options in hardware wallets here:
 

TREZOR vs. LEDGER – Hands On Hardware Wallets Review

 
 
If you wish to go the cold wallet route, the “offically” recommended method is to boot from the BitKey Live CD / USB Debian distro on an airgapped computer, which has never been and will never be connected to the internet or any other devices.
 
 
I suggest you then download BitKey and follow the “cold-offline” guide on their site:
 
 
https://bitkey.io/#usage

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