The Edgecase Bitcoin Storage Toolset (EBST)
is designed for a single competent user who is comfortable with using a terminal and wants to understand how Bitcoin actually works (i.e. generate an address or make a transaction directly, rather than have these operations performed invisibly within a consumer application).
Edgecase recommends that you use the Raspberry Pi Model B+ as your offline computer. It is small, portable, and does not have built-in WiFi.
Edgecase has published a recipe for using a Raspberry Pi to store bitcoin offline:
Recipe for storing bitcoin on paper using an offline Raspberry Pi #2
For more details about the Raspberry Pi Model B+, please see Equipment for storing bitcoin
Effective offline storage of Bitcoin
The storage recipe linked above can be used with many other offline computers, as long as they have a Terminal program and Python 2.7.
- Linux systems already have a Terminal program. It's relatively straightforward to install Python 2.7.
- Windows 10 has Windows Subsystem For Linux (WSL), on which a Linux OS can be installed.
- Mac OS X already has a Terminal program and usually has Python 2.7.
The general approach is:
- Set up an offline computer.
- Acquire Bitcoin software. Install it on the offline computer.
- Generate a private key.
- Back up the private key by writing it on paper.
- Derive the corresponding Bitcoin address from the private key.
- Back up the address by writing it on paper.
- Send a small amount of bitcoin to this address.
- On the offline computer, construct a transaction that transfers this bitcoin to another address. Copy the transaction to an online computer and broadcast it. When this transaction is mined, you can be certain that you will always be able to retrieve bitcoin from this address.
- Transfer a larger amount of bitcoin to this address for long-term storage.
Relevant: How to test a Bitcoin address
Note: You will need suitable peripherals for your offline computer. Ideally, these peripherals should be dedicated to the offline computer and never connected to an online computer. Edgecase suspects that it is or will become possible to attack the chips within computer peripherals.