How to create your own Bitcoin paper wallet

If you’ve learned about ways to store Bitcoin, you have probably heard of the Bitcoin paper wallet. Since it is a highly secure way to store your stash, you must be wondering how to make a Bitcoin paper wallet.

A 11 step process to creating an ultra secure Bitcoin paper wallet. Learn how to store your BTC securely.

With the increasing popularity of cryptocurrencies, fraud and hacking are becoming more and more common. Nowadays you can come across fraudulent ICOs, shadow exchanges, fake wallets, pyramids, phishing, pump&dump schemes, Twitter scammers, etc. at every step. The risk of losing coins is greater than ever today, and it is almost impossible to track fraudsters.

It is very important to keep your cryptocurrency in a safe place. Although there are many storage options now, none are as safe as a paper wallet. Bitcoin and other cryptocurrencies are popular because they do not need a centralized authority or bank to process and approve transactions and to store coins. By using BTC, users receive fast transactions and low processing costs for such payments. In addition, the transactions cannot be changed or cancelled after execution.

Thus, the Blockchain era requires the owners of funds to use a guaranteed safe way to store them, and the type of wallet used in this case is the most important.

There are different types of wallets: some allow you to store your coins, but do not give you ownership rights to them. For example, most crypto exchanges will give you a wallet. However, when your cryptocurrency is in it, this actually means that only the exchange owns your funds, and you should trust the exchange as a bank. So how do you get ownership of your coins?

Why do you need a paper wallet?

A paper wallet is a piece of paper on which private and public keys are printed as a QR code. To use these keys, you will need to scan them.

Paper wallets are usually better and safer than any other type of wallets. Here are a few reasons to use them:

  1. They’re easy to use. Making a paper wallet does not require much effort or technical knowledge. A few simple steps will make your coins much safer. Using hardware wallets is much harder.
  2. They are self-contained. Your currency is represented as a piece of paper on which the keys are printed. This wallet is like an expensive cash receipt, with which you can use the funds or transfer them to anyone.
  3. No problems with the equipment. Paper wallets are safer and more secure than hardware wallets, which can be damaged and have software malfunctions.
  4. Paper wallets are the easiest form of crypto storage.It’s easy to pass on to someone close to you. If anything happens to the owner of the cryptocurrency, his relatives are unlikely to have access to his hardware wallets. However, a paper wallet can easily be stored as part of a valuable asset in his locker or physical space.

A trusted person from the circle of friends or relatives of the owner of the cryptocurrency may know about the wallet and these funds, without having access to them until the owner is incapacitated.

How to create and use a paper wallet?

Follow these simple steps below:

Step 1. Prepare your computer. Since paper wallets are created on a PC, there is always a risk that a hacker or malicious program will try to steal your private keys. So it is recommended to create a wallet on a computer you trust, and it should not be a public or third-party machine. Even on a trusted computer, you should make sure that there are no viruses or malware. You need to update your antivirus program in time and check your machine for security problems.

The process of creating a paper wallet should not be performed using public Wi-Fi. Hackers get information from networks very easily, which means they can direct you to a phishing site and steal your money. For added security, you can make sure that your operating system is “just out of the box”.

Step 2. Setting up an ultra-secure environment. This is also an extra safety measure that is not suitable for everyone. However, if you want to make sure that you’re not threatened with anything when creating paper wallet, then this step can be applied.

Download the latest version of the Ubuntu operating system and install it on a flash drive. Then run this operating system to ensure that you are creating your wallet in an ultra-secure environment. You will need to download the LiLi program which will allow you to install and run Ubuntu from the flash drive. In this case you will also need to download the Wallet Generator zip file and then reboot your computer in Ubuntu.

If you decide to do without such an ultra-secure environment, you can go straight to step 3.

Step 3. Booting the program. Go to: Wallet Generator can use JavaScript client software to generate a private key, which can be printed later. This means that you will not need an Internet connection when generating the key.

Step 4. Download the zip file. From you download a zip file that contains JavaScript codes, which will help you generate your private keys and a paper wallet to print.

Step 5. Switch to offline mode. Once you have downloaded the files, it is best to disconnect from the Internet and you will have a secure offline environment to generate your keys.

Step 6. Generate the keys. By moving your mouse, you will see the random numbers generated and the countdown to “0”. This is the process of adding a variable when generating your keys. Once this process is complete, your private and private keys will be ready.

Step 7. Preparing the keys. You will see two bar codes. One with the green label “Share” and the address below will be a public key, you can deposit funds into this address. And the second barcode with a red “Secret” sign is your private key.

Step 8. Print and save. You will be given a print page with basic instructions, which you should print and save.

Step 9. Cleaning. After you’ve generated and saved your wallet, it’s advisable to delete the files of your wallet program and Internet search history. Now you can also connect to the Internet.

Step 10. Protection against unauthorized access. Now you need to make sure that no one has unauthorized access to your keys. You may even want to do this by using special seals or other means which, if broken, will clearly point you to physical interference.

Step 11. Protection from harmful actions. For paper wallets, there are also risks of fire, moisture and water ingress, and natural paper decay. The easiest way to prevent these risks is to make multiple copies and store them in different safe places.

Another option is to print your wallet on a stronger and more waterproof material. You will need a special printer for this, but if you are looking for long-term storage, it can cost you money.

Now you can keep your coins in your paper wallet. This piece of paper keeps all the value of your cryptocurrency. Your BTC will be protected in this way very securely, but only until you give these keys to an intruder yourself. Creating paper wallets requires only a small effort, and today it is the safest form of storage for cryptocurrency, especially when it comes to long-term storage.

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