Silk Road forums

Discussion => Newbie discussion => Topic started by: mustangboss on June 04, 2013, 11:38 pm

Title: SR wallet
Post by: mustangboss on June 04, 2013, 11:38 pm
Does my SR address work as a wallet. I have a guy willing to meet me to exchange cash for coins. Just wondering if he can transfer the coin directly to my SR address.
Title: Re: SR wallet
Post by: Scintillation on June 04, 2013, 11:43 pm
Yes he can, technically.
Title: Re: SR wallet
Post by: SkyOfLime on June 04, 2013, 11:43 pm
Yeah it's a fine wallet. However, if the site goes down, temporarily or permanently, you won't be able to get access to your money so it's a good idea to keep your coins in a wallet on your computer most of the time. Bitcoin-qt is one of the most common ways of doing this, have a look at bitcoin.org for lots of information.

The downside to this is that you will have to wait a couple of hours for your coins to get to SR when you actually want to purchase something, but that's better than having them lost forever.

Be sure to set up a backup wallet in your SR settings as well. The site will send them there if it gets taken down (apparently it will anyway).