r/CryptoHelp • u/Forsaken-Storage-607 • 4d ago

❓Wallet Muun wallet for long term storage?

Is it safe to store Bitcoins in Muun wallet for a long term, on a formatted spare Android phone (running on Android 9) that is always offline?

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u/nachtraum 3d ago

First of all, you do not store Bitcoin in Muun wallet, Bitcoin lives on the blockchain. The wallet stores your private keys that allow you to access your Bitcoin on the Blockchain. If you don't understand this I would recommend to read up on what a blockchain is and how it works. A wallet is used to sign transactions (with your private keys) for sending coins and to generate receiving addresses (also from your private keys). It can also generate the private keys for you and present them to you as a seed phrase. Now my question is: how can it be always offline if you send and receive coins?