In the crypto world, a private key is considered the lock of your account because if any third person knows about your private key, easily get access to your bitcoins. So, don’t rely just only on exchangers. It’s a better idea to generate your private key on your own but it’s not important too. Why do I need to generate my private key? You don’t need to generate a private key on your own. The all process is automatically done with your android and PC. Two reasons enforce you to generate your private key;
Generally, the private key having 32-byte series, and different ways are used to record these bytes like binary string, hex string. Like Bitcoin cold storage wallet keys. Now the question arises here is Why it gives us exactly 32 bytes? The answer is because bitcoin work and use ECDSA (ellipse curve digital signature algorithm) having a particular curve known as secp256k1. This ECDSA curve having a format of 256 bits and as we all know that 256 bits having 32 bytes because 1 byte having 8 bits in it. The private key can be less but not more than 32 bytes because 256 bits is a pity big and the private key is smaller than it.
You must need to know about RNG in your language. Python helps you in generating your bytes. This option is not too secure. The cryptography option is completely secure than the python method because that is completely done with your OS. The python generates a seed and RNG cryptography created a program. Anyone can never hack your coin by your cryptography method even they get access to your computer. That’s satisfying and brilliant for those who want to make their crypto safe.
There are different websites available around us having a good rank in the industry and help us in creating a private key for your wallet. All wallets having their features. The most well-known and safe are random.org and Bitcoin-cold-storage.com having a high rank in the digital currency world.
Random.org provides great services to its customers from years ago but random.org is a truly random generator and we can’t sure that it is indeed random and the owner does not record our results and doesn’t look at our private key. So, how can we rely on it? The random.org method is not secure even for 1%.
Bitcoin-cold-storage.com is completely different from other service providers and providing its great services to its customer. It is completely secure than any other. it is an offline wallet. So, you can easily generate your private key without having an internet connection. The hackers can get access and hack your bitcoins through an internet connection that is why the manufacturer of Bitcoin-cold-storage.com make it an offline website away from the range of hacker. If you want to generate your private key then, I would recommend you to use Bitcoin-cold-storage.com and completely secure your crypto.
Here, we are standing at the end of the article. Hope your all doubts and complications have been cleared and you know all about generating a private key for cold storage. What are you thinking about? Go and generate your private key and make your bitcoins more secure.