If you've been blogging on Publish0x for long, you've undoubtedly accumulated hoards of BAT tokens. However, is your BAT secure? If you've been storing it in just any hot wallet, you may be putting all of your hard earned BAT at risk! 😱 In this post I'll teach you how to safely store your BATs in an offline "cold wallet."
What is a Cold Wallet?
A cold wallet is essentially a cryptocurrency wallet that is kept offline. So an air-gapped non internet connected device, a piece of paper, Cryptosteel. Those are all examples of cold wallets. If you want to learn more, I recommend reading more about cold storage.
Creating an Offline Ethernet Wallet
First, I recommend using a Raspberry Pi Zero for this. You can get these for five dollars and never worry about them connecting online since there is no WiFi on the most basic model. You can temporarily hook them up to the internet by using a USB ethernet adapter.
Once you've acquired the necessary hardware, I recommend connecting it to the internet once and installing Brave browser and the MyEtherWallet Chrome app on it. Once it's installed, disconnect your Pi from the internet by physically unplugging the ethernet adapter.
Then follow the instructions for creating a wallet and for choose the mnemonic option! Keep this mnemonic save secret and write it down somewhere. Keep it secret. Keep it safe. Then follow the steps to print out your paper wallet from the Pi!
Add Your Wallet Public Address to Publish0x
You should have a public address listed on your paper wallet. Head on over to your Publish0x settings and toss it in:https://www.publish0x.com/settings/wallets.
Put The Cold Wallets Somewhere Safe
Put the Raspberry Pi somewhere hidden and safe. Maybe a safe deposit box at a bank. Or maybe buy a weatherproof sealed canister and bury it in a remote location. You should do the same with the paper wallet. I recommend laminating it for protection.
Carve Your Mnemonic Into Stone
This is the final step, and perhaps the most important. Your Raspberry Pi / micro SD can (and will!) fail eventually. Your paper wallet may succumb to rot and infestation. There is one thing that stands the test of time. Stone.
I am reminded of the poem Ozymandias:
I met a traveller from an antique land,
Who said—“Two vast and trunkless legs of stone
Stand in the desert. . . . Near them, on the sand,
Half sunk a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed;
And on the pedestal, these words appear:
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
Nothing beside remains. Round the decay
Of that colossal Wreck, boundless and bare
The lone and level sands stretch far away.
Just like the good King Ozymandias, if you want your wallet to stand the rigors of time you need to carve it into stone.
I recommend going to your local stone mason or Home Depot and purchasing some slabs of granite or quartz. You can then buy an inexpensive stone carving kit off of Amazon (just search stone carving).
Now sit down and start chiseling your twelve word mnemonic. I've found this Wiki How article to be an excellent resource.
Placing the Carving
Now you don't want to keep the hewn mnemonic on your person for several reasons.
1. It is meant to be a secret.
2. It is heavy.
You need to take it some place -- preferably some place separate from where you've buried the Raspberry Pi Zero and paper wallet. I recommend purchasing some land in Idaho or Montana. A few acres will suffice. There you can build a sort of structure to protect your artifact.
One day in the future when you are a BAT millionaire, you can return and claim your prize.
If you don't end up returning, it will at least entertain some archeologist one day.
Create your own language and write the mnemonic in that language. This will make it more difficult for others to steal the BAT you have been HODLing.
You should now know how to create an offline wallet for cold storage of your Publish0x earnings. You can choose to stop at any point past creating the wallet on the air-gapped Raspberry Pi, but I highly recommend continuing to at least the stone carving portion. In the event of a global catastrophe, your stone carving skills might be worth far more than your cryptocurrency. Thank you for reading this Publish0x tutorial and, most of all, thank you for your time.