How Create Bitgesell Wallet Offline
HOW TO GENERATE A BITGESELL WALLET OFFLINE
You do not need to download the Bitgesell Wallet to own or store your Bitgesell (BGL) coins. Although wBGL (Bitgesell wrapped) is the trading token of Bitgesell, making it easier to buy and sell Bitgesell on the market, it is advisable to store your coins on the Bitgesell blockchain for several reasons.
The token WBGL is traded through a unique smart contract address (0x2bA64EFB7A4Ec8983E22A49c81fa216AC33f383A) and as of August 10, 2024, it is available on four networks with the following numbers:
- Binance Smart Chain (3,329,900 WBGL) -> BGL Custodian Wallet
- Ethereum (530.000 WBGL) -> BGL Custodian Wallet
- Arbitrum (871,000 WBGL) -> BGL Custodian Wallet
- Optimism (21.000 WBGL) -> BGL Custodian Wallet
In total, there are 4,751,900 wBGL, which corresponds to 22.62% of Bitgesell coins locked to back the tokens of the wBGL smart contract.
It is advisable to convert your wrapped tokens (wBGL) into Bitgesell coins because the companies behind these networks could, for various reasons, be shut down or even go bankrupt, although this seems unlikely in the near future.
At a minimum, we suggest that BGL holders keep part of their holdings in Bitgesell coins and another part in wBGL, the wrapped tokens of Bitgesell.
To store wBGL, you can use any wallet that supports the networks where the wBGL smart contract is hosted. Note that the number of wBGL tokens is backed by the same number of coins within the Bitgesell Network.
How to Create an Bitgesell Offline Wallet
There are two online methods to store Bitgesell coins:
By downloading the Bitgesell wallet, available in both mobile and desktop versions; Or through BGL Core, where, in addition to running a node and helping the network, you can store your coins in an even more secure manner.
A third alternative is available to Bitgesell holders through the Bitaps Bitgesell Explorer website, where you can create your Bitgesell wallet (with 24 passwords) offline, an even more secure and radical option. After all, anything that has never been online can never be targeted by a hacker attack!
Here's how to do it step by step:
1. Go to https://bgl.bitaps.com/tools:
2. Click on Mnemonic code and after on click on Version offline (top right)
3. Click on Generate NEW:
All 24 passwords
Passphrase (read below)
Seed
BIP32 Root Key
Account Private Key
Account Public Key
WIF of Derived Addresses that you need
6. The Derived Addresses for each account are infinite. Only 20 addresses are displayed at a time on Bitaps display, always in the same order and continue infinitely.
Finally, a few last important considerations.
A - We recommend that you send a small amount of Bitgesell to your offline wallet via the swap and then verify it in the Explorer.
B - The transaction time on the Bitgesell Blockchain is currently 10 times faster than on the Bitcoin network. However, using the swap, where a 1% transaction fee is charged, may take minutes, hours or even a few days, depending on the number of coins sent and the taxes transaction paid;
C - Always try to send whole numbers, such as 100, 150, 200, 365, etc., without commas or decimal places to simplify the swap calculation;
D - Remember that if you send 100 coins via the swap, you will only receive 99 coins, as 1% is deducted to cover conversion expenses.
E - In the conversion cost from wBGL to BGL and vice versa, no coins are burned, as the burning of 90% of transaction fees only occurs within the Bitgesell Network.
F - To date, all Bitgesell transactions have been successful and recorded on the blockchain as proof.
G - To build your confidence, we suggest starting by sending 5% to 10% of your coins. Once the transaction is successful, proceed with the remaining amount.
How to Check the Status Transaction on Bitgesell Blockchain
To check the status of the transaction on the blockchain, copy the address of your wallet that starts with "bgl..." and paste it into the "Search in Blockchain" field on the Bitaps Explorer for Bitgesell, as illustrated in the following image:
Bitgesell Passphrase - The Invisible Mode
You can add a high level security to your coins applying "Passphrase". After Generate New and Load, you can apply a Passphrase (a second password easy to remember, for example, theworldisthebestplacetolive2024) to your wallet. After Apply bottom, register all WIF (private keys) of your wallets in a pendrive offline. Dont worry. If dont want copy all WIF of your wallets (safed by passphrase), just writte in a paper 24 passwords in a paper and your passphrase in your head, out of internet.
Why Passphrase + 24 passwords in Bitgesell Wallet?
Imagine you have 1,000 BGL, with each coin worth $1,000, meaning you have $1 million in Bitgesell. To protect this value, you create your wallet by generating the 24 offline recovery words and add a passphrase that only you know.
Now, think about thieves suddenly showing up at your home, trying to "confiscate" or steal your coins. They even figure out your 24 words, but without the passphrase, they can't access your funds. Since you never wrote down this passphrase anywhere, your $1 million is still safe.
Or consider hackers trying to steal your cryptos. As the 24 words were generated offline, outside the internet, they will never find anything. Your Bitgesell wallet is out of their reach, shielded from any online attacks.
These examples show why generating the 24 words offline, with a unique passphrase, is the best way to protect your BGL crypto. Even if someone discovers your 24 passwords, your money remains safe, because the main key is in your head.
Example for a passphrase:
theworldisthebestplacetolive2024
Passphrase is case sensitve
Important detail, the passphrase is case sensitive, that is, it detects upper and lower case letters as well as blank spaces and accents. So a character in your passphrase that is different from yours will give you access to a completely different wallet. Never forget 24 passwords + passphrase and for import address wallets in any Bitgesell wallet, copy each WIF (private key for each Derived Address.
How to acess your coins?
Once you have stored the 24 passwords, the passphrase and the private keys for each wallet, you have two ways to access your coins.
You can either import them into any Bitgesell wallet by entering the WIF (private key) or if you haven't noted down the wallet addresses or the WIFs, you can go to the Bitgesell Mnemonic Code address (https://bgl.bitaps.com/mnemonic), correctly enter the 24 passwords, click on "Load," and then enter your passphrase. After that, the private key for each BGL Address will be shown below, which you can copy to an offline USB drive and use to import the wallet containing your coins.
Youtube Video - How Create Bitgesell Wallet Offline + Passphrase
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