Cold Wallet

Creating a cold storage DERO wallet

If you want secure storage for your crypto but don’t have the cash for a hardware wallet, or you just like to DIY, creating cold storage is the answer. You can create a cold storage wallet from any wallet software by running it offline on any air gapped computer.

Things you’ll need:

  • A PC with an internet connection

  • A separate old (or new) PC with no network connection

  • A fresh install of the OS of your choice

  • 2 blank USB drives (1GB is more than enough)

Steps:

  1. Download wallet software to the USB drive from the internet connected PC. For maximum security, this is the last time that you will plug this USB drive into an internet connected PC.

  2. Insert the USB drive into your offline PC that only has a fresh install of the OS of your choice (Linux, Windows, MacOS… etc). Copy the wallet software to the offline PC or open it straight from the USB drive.

  3. Create a wallet and write down the seed onto paper.

  4. Verify what you wrote down is accurate by restoring your wallet from the seed you have written down. If it doesn’t work, you know you have something written or typed improperly.

  5. Open notepad and copy your wallet address into a newly created .txt file. Optionally you can also copy your “view only” HEX key, and use that to confirm deposits into your wallet on any PC you feel comfortable running a view only wallet. ONLY keep this information on your second USB, do not copy any private keys or seed backups onto your second USB.

  6. Test a transaction to your wallet address and use your view only key to confirm the transaction was successful.

  7. Trust the blockchain. It can be strange the first time you use cold storage because nothing is connected to a network. Trust that the blockchain has your transactions on it and you can retrieve them with your keys. A view only wallet helps with this as well.

That’s basically all you need to do. It may seem complicated or like a lot of steps but for the amount of security you get, it’s a pretty simple thing that anyone can do.

Creating transactions using cold wallet

Note: Use offline/Net disconnected computer as cold wallet. Also for more security use live iso image of any Ubuntu/Linux operating system on offline computer.

Note: Backup your 25 words seed in all cases at safe location either on paper or safe usb drive.

Step 1. Download nightly Dero software. Step 2. Download updated getoutputs.bin from local daemon node or getoutputs.bin from remote Dero daemon node and copy to offline computer in wallet folder. Step 3. Run dero-wallet in offline mode on offline/air-gapped computer. Create new/restore wallet and create offline transactions.

./dero-wallet-cli-linux-amd64 --wallet-file wallet.db --offline;

Step 4. First rescan blockchain using option 11 and then Create offline transaction using menu option 6. A transaction file will be created by TX name. Step 5. Copy above TX-file to internet connected system and relay above transaction file contents using local daemon node or remote node.

curl -X POST http://127.0.0.1:20206/sendrawtransaction -H 'Content-Type: application/json' -d '{"tx_as_hex":"020915b83d73d............52d55b5148500a"}'

Status will be ok if TX is accepted by DERO Network or follow again the above process.