What is an offline (software) wallet?

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What is an offline (software) wallet?

Post by Meconomy153 » Fri Jan 02, 2015 7:31 pm

The offline wallet, otherwise called software wallet, is a safe way to store your maxcoins. You can have such a wallet by installing the software on your computer.

With an offline wallet there is no third party, everything is in your hands. On the other hand you also own the responsibility for storing your maxcoins properly and safely. It will also be in your hands to protect them against villains and technical problems. With an offline wallet it is important that you make back-ups as well. Make a regular back-up and store it in a different location as your computer.

The best way to protect your offline wallet is to install the software on a separate clean computer. Do not use this computer for anything else, like browsing on the internet. This computer can be turned off most of the time. It will only need to be turned on it you want to send your maxcoins to someone else. Receiving maxcoins will logically not demand this computer to be turned on.

Before you install the software, make sure that the provider of this software can be trusted. Having a clean computer with bad software is like putting your personal key on the internet.

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