In the crypto world, a private key is considered the lock of your account because if any third person knows about your private key, easily get access to your bitcoins. So, don’t rely just only on exchangers. It’s a better idea to generate your private key on your own but it’s not important too.
Why do I need to generate my private key?
You don’t need to generate a private key on your own. The all process is automatically done with your android and PC. Two reasons enforce you to generate your private key; The first one is more security reasons. If you want high security and having more bitcoins in your account then you can generate your private key and keep your coins away from hackers. The second reason is to learn more about random numbers and cryptocurrencies.
How exactly a private key do?
Generally, the private key having 32-byte series, and different ways are used to record these bytes like binary string, hex string.
Why it gives us exactly 32 bytes?
The answer is because bitcoin work and uses ECDSA (ellipse curve digital signature algorithm) having a particular curve known as secp256k1.
This ECDSA curve has a format of 256 bits and as we all know that 256 bits have 32 bytes because 1 byte has 8 bits in it. The private key can be less but not more than 32 bytes because 256 bits is a pity big and the private key is smaller than it.
How can I generate these 32 bytes integers?
You must need to know about RNG in your language. Python helps you in generating your bytes. This option is not too secure. The cryptography option is completely secure than the python method because that is completely done with your OS. The python generates a seed and RNG cryptography created a program. Anyone can never hack your coin by your cryptography method even they get access to your computer. That’s satisfying and brilliant for those who want to make their crypto safe.
How can I generate a private key for my bitcoins?
There are different websites available around us having a good rank in the industry and help us in creating a private key for your wallet. All wallets have their features. The most well-known and safe are the btc-paper-wallet.com and bitaddress.org having a high rank in the digital currency world. I will explain the complete procedure of generating BTC private keys.
How to generate BTC Paper Wallet Keys
- Go to btc-paper-wallet
- Click on create wallet now button
- Wait few seconds so that the system will generate keys.
- You will see a QR Code with private and public keys
- The download and Print options are available
- Use the print option to get a printout of the keys.
Is btc-paper-wallet.com secure?
btc-paper-wallet.com is completely different from other sites providing the same services. This site is providing its great services to its customer. It is completely secure than any other. it is an offline wallet. So, you can easily generate your private key without having an internet connection too. The site is secured with HTTPS. This means that no hacker can track your keys. If you want to generate your private key then, I would recommend you to use this site and completely secure your crypto.
Here, we are standing at the end of the article. Hope your all doubts and complications have been cleared and you know all about generating a private key for cold storage. What are you thinking about? Go and generate your private key and make your bitcoins more secure.