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What Is The Use Of Your LITECOIN Paper Wallet (COLD STORAGE) by mdominicorobin

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· @mdominicorobin ·
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What Is The Use Of Your LITECOIN Paper Wallet (COLD STORAGE)
![Capture1.PNG](https://steemitimages.com/DQmSySrAbN3B3QChjN2Lsb8n3qEmTZ3PSMtN3L8yacRb4jN/Capture1.PNG)

<h2>Four Years Ago I Generated A Paper Wallet Which Is Also Known As COLD STORAGE</h2>

<h6>The Litecoin Address is LZSjkSNWHCgTu1oxZwFCJbnJoDWRTVqra3 . It was almost a year after the Mt. Gox fiasco which fake stream media used to somewhat destroy Bitcoin. Or, so they think. Anyways I was eager to explore the world of LITECOIN and someone incidentally was eager to share their LITECOIN. I got a tenth of a Litecoin and hoping that Litecoin will go to the MOON so to speak. But that was four years ago. I forgot about it until 14 days ago.</h6>

<h6>I was so eager to earn Bitcoins but when I was looking for my Bitcoin Paper Wallets I stumbled upon something which is quite different and the address started with letter L. Eureka. I can use this and convert it to Bitcoins. And so I did try. But there was one major problem. How can I possibly rely on LITECOIN network to store something that was  in COLD STORAGE for four years. I couldn't even rely on a bank to store my paper play money. So what makes me think that LITECOIN is any better than them(Central Banking Institutions). I am not even active in the Litecoin community scene. What should I do to test reality when it comes to Crypto Currencies? Well redeeming One Tenth of a Litecoin is definitely the much needed test to prove once and for all that Blockchain Technology works. </h6>

 <h6>There is this option to download a Litecoin Client or should I look for something bizaare in the world of Litecoin. Using an online wallet to redeem the value inside my COLD STORAGE. Which is just a piece of paper with private key and Litecoin address. Then I ended up looking at the Litevault website. I pointed my browser to:</h6>

```
https://www.litevault.net/
```

![Capture2.PNG](https://steemitimages.com/DQmRkMPQ1YuhbvLU9819PgmJmPwWM7G8oXG2hFU1k3hhp2U/Capture2.PNG)

<h6>Just like any other fool. I registered an account and this is what I saw.</h6>

![Capture3.PNG](https://steemitimages.com/DQmNt8urDuTJ77Jd5SDuaB3JMR2A6HdPR4K2f8oUuCDvWGY/Capture3.PNG)

<h6>This is the Login Screen.</h6>

![Capture4.PNG](https://steemitimages.com/DQmfWeA6nXtpM7UDzzn9P6fxVKqjS8ojqa1Bkyj1Z3a8vUY/Capture4.PNG)

<h6>This is the DASHBOARD.</h6>

![Capture5.PNG](https://steemitimages.com/DQmW3U9XKAtWdkvuFtvC9EzUcyc4wTwAeh1gc78edizJHRC/Capture5.PNG)

<h6>Now to import the Private Key and finally redeem my Litecoins.</h6>

![Capture6.PNG](https://steemitimages.com/DQmazswmazAJvVBYBra1neHicZoF7SRoNojrkkkt1XFmNks/Capture6.PNG)

<h6>This was the value inside the address.</h6>

![Capture7.PNG](https://steemitimages.com/DQmRBxzDpPFLFwPSBHSuWUB7SNoxyNG9JrczVp3r1Ve3xKE/Capture7.PNG)

<h6>After sending and converting the Litecoins.</h6>

![Capture8.PNG](https://steemitimages.com/DQmW1v3W9DZokphz2TzRTs2AC7eAkxL7o8A48ZV3u2M4xfe/Capture8.PNG)

<h6>The above image shows that it is a 4 year old address. And the transaction was made 14 days ago. I have paid the miners fee and sent it to SHAPESHIFT. Now the balance is zero. You can confirm the transaction history using Litecoin blockchain explorer. This made me realize how important Litecoin is in storing value. Especially a COLD STORAGE WALLET. It is very reliable and it doesn't discriminate whether it is inactive, dormant or escheated. There is no such thing in the field of Crypto Currency. That is why it is becoming popular. Nobody even had a chance to hack my wallet because I stored it COLD. Now I truly believe that Crypto and Litecoin is the future of the World in the  Information Age.</h6>
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@drotto ·
<p>This post has received a 0.45 % upvote from @drotto thanks to: @banjo.</p>
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@mdominicorobin ·
Thanks a lot for everything. Zzzzzzzzzzzz
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@mdominicorobin ·
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Is banjo better than @helpbot What do you think?
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@helpbot ·
 What do you think?<hr>**I am still learning and have no automatic response to your inquiry yet.<br>This question has been added to the @helpbot comment trail.<br>If you happen to know the answer to this question reply to this comment with it.<br>FYI Correct & accruate answers are rewarded! ;) <br><a href="https://steemit.com/helpbot/@blueorgy/introducing-helpbot-get-answers-to-questions-quickly-phase-1-data-collection">Learn more about the helpbot...</a>**
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@minnowpond ·
This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond
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@mdominicorobin ·
You are the pond of my life.
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@minnowsupport ·
<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by mdominicorobin from the Minnow Support Project.  It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso.  The goal is to help Steemit grow by supporting Minnows and creating a social network.  Please find us in the <a href="https://discord.gg/HYj4yvw">Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p>
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@mdominicorobin ·
This is what I like.
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vote details (2)
@protoken ·
$0.02
I considered putting my cryptos on paper wallets, but ended up with the Ledger Nano S hardware wallet. That way I have both the hardware wallet as well as the seed (stored on paper), which makes me feel a lot safer than having just one of these.
👍  
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@mdominicorobin ·
You cannot blame me for being a stickler to the rules themselves. It is a treasure from the past. Untarnished. Worth four dollars today. 
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@mdominicorobin ·
Again from the bottom of my heart. Zzzzzzzzzz.
👍  ,
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