What is Bitcoin paper wallet and how to create it?
The past few years were the years of innovations and many changes in the modern world. One of the biggest innovations were the cryptocurrencies, especially Bitcoin as the first of them. Cryptocurrencies are digital currencies that work in a decentralized network known as blockchain. It is a completely open system which means that no one controls the cryptocurrencies. There is no need for a single bank or a government to intervene.
One of the most popular ways of keeping your cryptocurrencies safe and secure is by keeping them in a wallet, known as a paper wallet. Bitcoin and most of the other cryptocurrencies can be stored in a paper wallet. As the name shows, paper wallets are made of paper, even though they can be made of plastic too, or any other material on which information can be printed.
Simply said, a Bitcoin paper wallet is a printed paper that contains public and private key together. It is also known as cold storage, which means that it is a storage that is not connected to the Internet. The public and private keys are printed on the paper wallet and they are in QR form.
Apart from the QR code, paper wallet contains the Bitcoin address too. If you want to print a paper wallet, you just have to copy and paste the keys in a text document and print that. Paper wallets are most popular because they are offline, on a paper, which makes them completely secure. As long as the paper wallet is safe, your Bitcoins are safe too.
On the other side, if someone knows where you keep your paper wallet, they can steal it from you. However, this is not a common thing, because everyone hides their paper wallet in a safe place, away from other people. Also, you have to make sure that your paper wallet is away from a fire, in order to avoid any fire damage. If you do something to the paper wallet that will cause damage and you are not able to read the keys, you will lose your Bitcoins.
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How to create a Bitcoin paper wallet?
There are some great paper wallet generators where you can create your own Bitcoin paper wallet. For example, Walletgenerator and Bitaddress are great platforms where you can create a paper wallet. They use your browser’s engine and create your wallet, which means that your keys will not be sent online.
Furthermore, you can go to Bitcoinpaperwallet where you can create a beautiful, colourful paper wallet for your Bitcoins. Another great platform is Mycelium where you can generate secure paper wallet by using USB that you will put into your printer.
Bitcoin is so popular cryptocurrency that today its value is more than $3,000. If you own some, you have to make sure that you have stored your Bitcoins safe and secure. Paper wallets are a great way of doing that.
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Disclaimer
The information contained within this website and resource section is not intended to be a substitute for financial advice or promotional offer on the investment or purchase of cryptocurrencies, digital tokens or related assets. Although care has been taken in preparing the information provided to you on this site and in the resource section, we are not held responsible for any errors or omissions and accept no liability whatsoever for any damage or loss you may incur through the result of your own actions and decisions when deciding to purchase or invest in cryptocurrencies or related digital assets. You should never engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. We recommend you always seek financial/or legal advice counsel relating to your investment and purchase circumstances. This material has been prepared for informational use only.
