What is a paper wallet?
In this article, we will explain the “Paperwallet” and how it works.
What is a paper wallet?
Basically, it is no different from the wallet on your laptop, mobile phone, or even your online wallet. However, this paper wallet only has a receiving address and no sending address, but a private key. Furthermore, the paper wallet is made of paper, as the name suggests. This means that your wallet is no longer dependent on the internet but only exists on this piece of paper. This is why a paper wallet is also called a “cold storage” because you are not protected against cyber attacks.
How does such a wallet work?
To understand how it works, you first have to understand the characteristics of the paper wallet.
Here you can see a Litecoin Paperwallet. Red marked is the “Public Address” — this address is…
