Is there a complete idiots guide to buying maidsafecoin?

Beginners
103

some questions re your instructions:

    Send the MAID back to the exchange or to another address you created to store all your

    MAID.  ----why send back to another address ( a second address) ---havent you just created and address?

    If that works then all you need to do or have done is generate another address at bitaddress.org

          to safely store your MAID as a “paper wallet------why do you have to now create a third address now- ---havent you already created a first address?

thanks,

Bill.

104

so do i send a bit of bitcoin first and then send some maidsafe next

105

It doesn’t matter in which order you send your coins to this address. BTC is only needed if you wanna transfer your maidsafecoins to another address.

106

Because the first has had it private key imported to a wallet. The second address allows you to have a off-line wallet (so called paper wallet) where no one could have seen the private key (unless you had malware on your PC)

I think I see what you are saying. Here is the process.

  • create 1 (one) address at bitaddress.org (test address)
  • Do a test run of store MAID and BTC to and from that test address
    • import private key of test address to omniwallet.org
    • send very small amount of MAID & send BTC to that test address
    • Send MAID back to exchange or to the address you create in the next step
  • Create 1 (one) address at bitaddress,org (paper wallet)
  • Send MAID & BTC that you want to store there to that address
  • repeat above two steps if you want to split your MAID across multiple addresses.
  • Make sure you have multiple paper and/or USB stick copies of the private keys for safe keeping. Remember paper and/or USB stick deterioration can and does occur and quicker if improperly stored. Regularly check that your copies are safe and sound. And do not store them all in one location.
2 Likes
107

with the second version, paper wallet, how do i see the balance of this wallet?

thank you,

Bill f.

1 Like
108

You can enter the (public) address at the landing page of omniwallet.org and it will give you the balance.

OR you can add the (public) address to the omniwallet you created as a “watch” address instead of importing the private key

1 Like
109

with the examples below are you giving 2 options for how to hold coins?

thank you,

Bill.

110

Yes there are 2 options

But the procedure I gave is to both test and store. The holding is only one method.

But yes you could use the address you imported the private key to omniwallet.org’s wallet for holding. Not quite as secure but it can be used.

111

You can also use a block explorer for this, like omnichest.info

1 Like
112

so if i want to send coins from a paper wallet then what do i do?

thanks\

bill.
113

why and how much bitcoin should i send to this maidsafe paper wallet?

114

You will at that time import the private key into omniwallet.org’s wallet. And obviously it is no longer a paper wallet after your import the private key

SAFE is an omni token and omni tokens are encoded on very small BTC transactions.

Then amount depends on BTC fees needed to send. At this time 0.001 BTC or 0.0005 BTC should be plenty

1 Like
115

thank you for that Neo,

i get it now

regards,

bill.

2 Likes
116

how do i transfer such a small amount of btc to my omni wallet or paper wallet when exchanges wont allow small transfers out from their exchanges?,

thanks,

bill
117

when sending btc to maid wallet, do i send btc to the same address as the maid coins?,

thanks,

bill foord
118

Well if you transfer a larger amount then you can transfer the remaining BTC back out. Just requires additional fees.

You could transfer the minimum BTC allowed to the test account when doing the test. Then when you sent the MAID out of the test account you then send the remaining BTC to the paper wallet. If its a lot then send some to paper wallet and the rest back to the exchange.

Yes the BTC has to be in the same address as the omni token.