Fastest/simplest way to move coins off exchanges
If I have a few coins in exchanges that I want to move into private wallets for security, can I simply:
- Download the relevant wallet clients
- have the clients generate a public address (and wallet.dat)
- encrypt/backup .dats and delete the originals
- transfer from exchanges and check public blockchain confirmations
This bypasses any large scale transaction syncing. Is that the wrong approach? Is there anything else required or am I missing something?
I understand that one day I'll have to sync the entire chain if I want to initiate a transfer, but that's next year's problem :)
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