Sorry, what are you asking?
From Poloniex to Paper Wallet
Bender posted this 8 years ago
Thanks for the reply. It seems only the subject of my post showed-up, not the body.
Anyhow, what I'm asking, it's probably a basic question for some of you, but I kindly would like help, to know instructions of the most secure and simple way to take my XMR off (and away from requiring the trust of) of Poloniex and into a paper wallet. I have zero software installed on my computer related to running nodes, wallets, whatever. I traded BTC for XMR on Polo and now I'd like to hold it safely, at least for a decent while, until the infrastructure and adoption of XMR grows and then I can spend and trade and such.
If there already exists clear instruction somewhere for this, please refer me to it. I might not have as technical of a background on all of this as some, but I'd like to learn, and I'd like to be careful of ensuring that I don't make a mistake that costs me a loss of my XMR.
Thank you for you help.
Very reasonable request.
I don't pay too close attention to what guides exist, etc., so I'm not sure the answer to that question.
Here's a 10 sec guide:
- Go to http://moneroaddress.org
- Depending on your level of paranoia do any of the following: disconnect your internet and generate a new address; save the webpage locally, disconnect your internet, refresh site; verify GPG signature of site; save site locally, transfer via floppy disc (or a more practical method) to a remote offline PC, generate address
- Save the 25 word mnemonic seed (print, write down, store in encrypted file, whatever [see 2.])
- Save public address with seed or separately.
- Save private view key if you want to be able to confirm payments actually went to your address (a different topic).
- Enter your newly generated address into Polo and withdraw.
- Save Tx ID from withdrawal if you'd like to more easily be able to confirm payment into cold storage (they store it for you as well).
K. Sorry if this is total "noob", but I don't have a clear technical understanding of the private key, public key, mnemonic seed relationship. What is the result that I am looking to end-up with on the paper? Is all that I end-up with on the paper simply my 25 word mnemonic seed? Or I should have the public key, private key, and 25-word mnemonic seed? Is the private view key something additional as well?
Steps 3, 4, and 5 are what you are asking about I guess?
The only thing you need to redeem your coins is the 25 word seed (step 3). The public address is a long string beginning with the number "4". You need it to put into Polo to withdraw to. The private view key, if you're inclined to save it separately (it's derived from the seed so you don't "lose" it, you'd just have to bring the seed partially back online to derive it again), allows you to verify receipt of funds without having to bring your seed online.