Hi all
What are the current storage options for MIOTA ? A lot of mixed information on Google so not confident on best cold storage for this coin.
Cheers.
You can currently only store IOTA using the wallet (https://github.com/iotaledger/wallet/releases) or using Bitfinex.
Hi guys,
Hope someone can help with this storage question. I have the PC based software wallet currently installed and my seed is safely stored. My question is, what if my PC breaks beyond repair, can I recover the IOTA wallet and balance with ONLY the seed, in the same way a bitcoin wallet can be recovered with just a recovery phrase?
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Yes, that is correct. You need to store your seed in a safe place.
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Good stuff. Thanks Bixo.
Hi,
Can please anyone explain the storage system in IOTA as it seems quite different from Ethereum for example. In Ethereum I have public key and private key and this is quite clear to me and easy to understand. But in IOTA I’m confused, I just don’t understand the system. Are there no private and public keys but just the seed? What does this seed mean and how it protects my tokens? How are my tokens connected with this seed?
It is said above that I can restore or access my IOTA with this seed when my PC collapses. What for is then this password used I need to access my wallet? Is it somehow connected with the seed or the wallet? I would appreciate if someone can clear my confusion or post some link where I can find the answers. I have searched from the web and youtube but haven’t found any good explanation nowhere.
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I have the same question. Furthermore I found a website in which I can generate the private seed and the receiving adress. I don`t get their System, too.
Unfortunately I don`t know if this website is trustable: https://arancauchi.github.io/IOTA-Paper-Wallet/
The seed you provide is used to progammatically (meaning in a deterministic fashion, you always get the same output) generate a private key. Meaning your seed is in essence your private key, you should treat those 2 things the same.
That is why it is super important to generate a RANDOM seed. Don’t use words, don’t use a non-random method. Do not use a random generator that isn’t truly random.
To an extent, I do feel this is one of the pitfalls of IOTA.
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Hi,
There is a good website for a seed called https://iotaseed.io/
But until now I wasn’t able to create a wallet and store my IOTA coins. First time I couldn’t send the IOTA because my wallet wouldn’t allow me to receive them and the second time I couldn’t connect to a node.