A paper cryptocurrency wallet is the safest way to store crypto assets, since it is it that provides protection against any type of attack and hacking of your private key. Actual it is impossible to crack, since it does not have a network connection. You can get it for free, and if you follow certain precautions, it will give a full guarantee of the safety of your coins. The most important rule here is to remember where you store it and keep this information confidential. If you do not comply with it, you can lose all your money.
What is a paper wallet?
This is a way of offline cryptocurrency wallet, which is a printed form on which your keys are indicated – public and private. Keys are generated in the form of QR codes, which can subsequently be scanned and accessed to all transactions. Thus, it turns out that you are in complete control of your wallet. The only serious threat to a paper wallet is physical access, so keep it in a safe and secure place.
But do not rush to run to draw up a paper wallet. It is possible that you simply do not need it. If you use all your assets for trading, then you need a more convenient wallet option – for example, desktop, online or mobile. If you have part of the capital for long-term storage and you do not plan to do anything with it, then a paper wallet is a great solution.
The pros of using a paper wallet
The pluses include the fact that you physically own your Bitcoins or any other coins, and they cannot disappear due to hackers, system crashes or equipment breakdowns. Weed profit system is best way to make money with the bitcoin.
In the case of a paper wallet, we need to talk more about the risks of owning such a store than about the downsides, because the risks can be managed, but there are no shortcomings. So, the risks of a paper wallet include:
- Physical coercion. There can for all time be intruders who want to gain access to your money, so keep your investment activity secret;
- Durability and physical fragility. Keep a paper wallet away from fire, water, and dirt. So just make a few copies;
- Data theft. Someone can take a picture of your wallet or copy the data, so the best solution is to keep the cryptocurrency wallet away from interested parties;
- Human factor. Here, unfortunately, all hope is for you. Do not forget where you store the wallet. And make a few copies. So you have maximum chance to save your money in the wallet.
- Bad printer. A laser printer is better for printing your paper wallet, since ink from an inkjet printer is extremely short-lived.
How to create a paper wallet
To do this, you need a special generator program that randomly creates unique keys. But there is one point – a paper wallet can be created online and offline. It’s better to choose an offline option, since it is it that allows you to generate a wallet that definitely won’t get on the network. Most often, sites that offer the generation of paper wallets have a section on security.
- Do not create a paper wallet online;
- Download the files of the site itself from GitHub (many place the archive for downloading directly on the site). You will need to turn off the Internet, unzip the html files and run them on your computer;
- The computer must be free of malware. Of course, it is better to use a Mac, but if this is not possible, then at least clean your computer before creating a wallet and check it with antivirus.
How to recover keys from the cold wallet?
Here, everything is quite simple – you will need to import the keys into one of the online wallets. For this operation, any wallet that supports this function is suitable. Most often, the process is fairly obvious and does not cause problems for users. So it is easy to make money with this type of wallet.