Hey folks. I guess you are in the crypto(and of course, blockchain) market and thus you want to lower your risk in this very lucrative(which of course fluctuates very much) and make your assets more secure.
(Code included in Github repo, linked in the last part of this story)
Also let me mention, the wallet which we are talking about, is for ERC20(and other ethereum clone networks) tokens.
So this article could be absolutely a game changer in your crypt asset security.
Let’s dive in and check what we are talking about.
We can break down wallets, into 3 different types:
- Software wallets(like metamask, trust wallet, safepall, etc … )
- Hardware wallets(such as ledger nano, safepall hardware wallet, etc …)
- Paper wallets
note: paper wallet is a kind of wallet, in which you save your private key by yourself on a piece of paper(you have to make it hidden from all the world and just you be able to use it)
Here, in this story, we will learn how to have the safest crypto wallet ever exist!
This solution having the safest wallet is much like a paper wallet but has some critical differences:
when we want to create paper wallets, have to use third-party websites and systems(programs) developed to do this job for us, but … a big Butttt!
How can we be sure that they won’t have a copy of our private key data?
and that’s the point that makes us think to find another way of generating a crypto wallet that is as safe as possible. and here is how to do that:
attention: we don’t need to be a technical guy or have many programming skills and etc…, minimum skills, apply!
you just need to install node.js (stable version) + (optional)installing VisualStudioCode(VScode)… and go through the repo easily.
we just need to know how the private key and public key of wallets are generated. and to explain it, I chose the short way to tell you about that.
everything starts from a randomly generated number. yes! it’s that easy!
in the next step, a short part of that random number will be selected to be our wallet private key, and at the end, we will have our wallet address(somehow our public key) just on our computer, and without any third party access.
For more simplicity in following the article, let’s go together:
- Go to https://nodejs.org, download and install the LTS version:
2. Download and Install Visual Studio Code(vscode) based on your OS.(optional) (*not that you can easily use cmd console instead of vscode*)
3. Create a new folder(for example): walletGenerator
4. Open walletGenerator folder in vscode(or cmd console) and write these codes one by one from top to bottom:
- npm init -y
- npm install ethers
5. Create new file: walletgenerator.js
6. Copy these codes into walletgenerator.js file:
var ethers = require("ethers");
var crypto = require("crypto");
var id = crypto.randomBytes(32).toString('hex'); // generating 32bytes random string
var privateKey = '0x' + id; // 0x is used to make private key in hexadecimal
console.log("PrivateKey(don't share this with anyone!): ", privateKey);
var wallet = new ethers.Wallet(privateKey);
console.log("Wallet address:", wallet.address);
7. Finally, enter this command:
node walletgenerator
After generating the wallet you will have the public and private key of your newly generated wallet. To check your wallet, you can test assets from explorers:
- charge your wallet from a faucet like: https://testnet.binance.org/faucet-smart (for binance smart chain testnet faucet)
- then check your balance from explorer as here : https://testnet.bscscan.com/address/{YourWalletAddress}
piece of advice:
did you watch the harry potter movie?! stay with me a little bit more 😉
Also if we want to have a higher level of security, …
if you know lord Voldemort, so you probably know how to do it!
You can even make the code(GitHub repo is at the end of the story) safer by making Horcruxes(as shown in the harry potter movie series) (dividing your private key, into smaller parts and saving each part of them in a secure place that just you! and only you have the access to.
Thanks for being with me in this article, hope you enjoyed it.
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The safest crypto wallet of all time was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
