over 3 years ago

With the rise in blockchain technology, many sites are offering facilities to generate your bitcoin paper wallet, but you may be looking for a secure website like btcofficialwallet.org. Walletgenerator is a secure way to get your wallet without any worries. These sites are a time-saving approach to save your bitcoins at the right place. You may send and receive bitcoins via an exchange but keeping bitcoins there for a long time is not safe. Any time exchange can be hacked and your assets wouldn’t return. 

 

Hover your cursor to the wallet generator, create your wallet with a unique key and prevent bitcoins from exposure to hackers. These wallets contain a public and private key. The public key is used to receive bitcoins whereas the private key is used for safety purposes. Here a question arises why there is a need for a bitcoin private key generator?  The private key as the name implies a collection of strings, or mnemonic phrase, or WIF key, usually 32 bytes. The private key is associated with both, live and cold storage wallets. Web-based wallets generate private keys for you, and for cold-storage then can make a primary key for you or generate a wallet from the primary key. 

How to Create Bitcoin Private Key

In simple words, a private key is a random number between 1 to 2²⁵⁶. Although this range of numbers is quite large to estimate and it would be difficult for hackers to guess. For generating a random number from this range, you need to generate a number that is cryptographically secure. Here is a short summary of the whole procedure to create bitcoin private key:

 

• Just type a dataset, containing numbers, symbols, letters, etc.
• Now convert the random dataset into 256 bits, using the SHA256 algorithm.
• When you get cryptographically secure digits convert them into 256 bits. 
• After this, convert hexadecimal to a decimal number to verify the number is in range or not.
• When you are sure about the number converted is in the range of 1 and 2²⁵⁶. 
• Add “5” at the start because this makes a quick identification of the private key.
• As this key gets too large to convert it into hexadecimal.
• For ease, you can convert hexadecimal into base 58 to avoid any typing errors.