A couple of months ago I withdrew MAIDSafeCoins from Poloniex and MasterXChange directly to my blockchain.info bitcoin address.
Two days ago I decided to transfer my MAID from blockchain.info address to paper wallets.
I used Omniwallet to import the unencrypted private keys of my blockchain.info address
Omniwallet instantly added my blockchain.info address and detected I have xxx MAID tied to that
Because I also had bitcoin on that address* the next step has been to simply transfer MAID using Omniwallet to my bitcoin paper wallet address. *You need to pay bitcoin minerās fees when you send MAID from Omniwallet
I now imported the PUBLIC keys of my paper wallets into Omniwallet to check the amount of MAID on each one.
When I will want to extract and transfer my MAID from the paper wallets I need to import the PRIVATE keys of those addresses again into Omniwallet.
Can I just send some maidsafe coins straight from polo to mytrezor wallet? It would be great to have that kind of security for them along with my btc on there.
Do your homework before sending to trezor - last time I investigated that was not a wise thing to do as you donāt have easy access to the public keys for the address, and you need those to move the coins once theyāre there because trezor doesnāt support Omni protocol.
Thank you so much. Those were really helpful responses. Iāve had to learn so much in the last few months (being over 35 and not from tech background) and it seems like having to unravel complicated problems is going to have to become second nature if Iām to survive investing in this space.
Ah well, I think Iāll just try and figure out how to store them on paper as that seems easier and perfectly safe really for now.
I will write to mytrezor though and add my voice to ask them to make their wallet maidsafe compatible with simple functionality.
To newbies reading this I stress to you do not keep your coins in any online wallet, your better off to keep them in an offline bitcoin wallet AKA paper wallet.
Other than that anyone that can offer me a USD to MaidSafe Coin service will have my business as I buy and sell fairly regularly (every other week or monthly)
A āpaper walletā is basically the private key, put on a piece of paper
Itās usually in a format thatās easy to type / hard to mistype (e.g. using mnemonics, to protect from headache and screw-up) or as something a phone / computer can easily interpret (e.g. a QR-code).
the thing you write down is a derivative of the actual private key
it is a unique digit that when put into the bitcoin software comes out its possibilities
itās like a ring mould will always make a ring out of the metal you pour into it, same with bitcoin software it is a ring mould and the private key is like a hot metal poured into it
Iām gonna explain how it works with Bitcoin and its derivatives, because Iām more familiar with that; it is probably very similar with MaidSafeCoin, but Iām not sure if itās gonna be like this with the Safe Coin.
The private key is just a very long (256-bit) random number. āGeneratingā one is as complex as writing down a bunch of numbers.
Once you have your private key, you can compute the public key that belongs to it; this is what others can use to check your signatures on your transactions. The address is just a hash of the public key.
Those numbers (private and public key, and address) are usually encoded in a specific format (base58check) so that they are a bit shorter in writing.
As you can see, by knowing the private key, you can get the address (not the other way around). Once you import a private key into a wallet, it will quickly compute the address, and I guess that answers your question.
Can someone please suggest where it is safe for me to store my MaidSafeCoin (MAID). It currently sits on the exchange where I purchased it, but I would be happier if I could move it elsewhere. For my BTC I use a Ledger Nano cold storage and would love to be able to create a wallet on there to hold my MAID until I can make use of it. Is this possible? Iāve read that it can be stored at any BTC address, is this correct? Iāve also read about OmniWallet but I donāt think Iāve fully come to terms with why its anything special. Could someone point out itās advantages to me.
any BTC wallet that you have the private keys for will work.
I personally use bitaddress.org to generate a paper wallet and then view my MAID balance on omniwallet.org
So, basically I have to trust an unknown third party with my private address? I would have thought leaving those coins in an exchange wallet would be less risky. What I donāt understand is why an exchange can offer a wallet for us to store our MAID but devs of the coin can not?!?!?
1.-If you only want to store your maid you only need any bitcoin wallet that you control the private key
2.-If you need to use Omniwallet, you donāt send your private address to a third party. The Omniwallet work like Blockchain.info and the private key never leaves the client side.
3.-Of course I recommend that the wallet where you keep your Maid never be the same where you keep your Bitcoin.
I plan to hold it in a separate wallet on a Ledger Nano cold storage device, which currently holds my BTC wallet. I just need to be confident of a foolproof method of getting it there and more importantly, getting it back out.
The problem with hardware wallets and Maid is that you will need to extract your private key and, sometimes, with BIP39 wallets, is not too easy. Sometimes, to store maid, a simple paper wallet is enough.
