Paper Wallet

Paper wallet, store your bitcoins offline

paper wallet
Paper wallet – Store your bitcoins on paper

A paper wallet is a bitcoin wallet on paper. This is together with the hardware wallet the most secure way to store your bitcoins. Storing Hardware Walletbitcoins offline is the safest way because hackers can’t reach your wallet via the web. This means it is only possible to steal the bitcoins by stealing your physical wallet. On this page you can read the following:

What is a paper wallet?
How to create a paper wallet?
Paper wallet VS hardware wallet

What is a paper wallet?

A paper wallet is way of cold storage, this means that you keep the acces to your bitcoins offline. A bitcoin wallet contains a public key and a private key. Using the public key you can receive bitcoins and using the private key you can send them. The public key can be shared with everyone, but the private key has to stay secret.

When you create a paper wallet, the private key will be kept on a piece of paper. Now you can send bitcoins to your address and using your public key you can still see your balance and transactions on the blockchain. You can store this offline wallet in a safe or another secure place. When you want to sell your bitcoins you need to download an online wallet and insert your private key.

How to create a paper wallet?

You can create a wallet on paper in several ways. You can easily and fast create one online and deposit your bitcoins. The disadvantage of creating your wallet online is the fact that your keys can be stolen during the proces. You can also create one offline, but then you will need a special device.

How to create an online paper wallet?

-Go to http://bitadress.org
-Move your mouse over the screen till you reach 100%
-Now the site will show you a wallet, complete with a public address and a private address, print it and store it secure. (You can print several times and store them in different safe places)
-Send bitcoins to your public address and check your balance on http://blockchain.info

How to create an offline paper wallet?

-Order a Piper wallet printer
-Print a wallet, the keys are generated offline, so can’t get hacked
-Store your wallet in a secure place
-Send bitcoins to your public address and check you balance on http://blockchain.info

Paper wallet VS hardware wallet

Both of these wallets are super secure. However, the keys of a paper wallet that is created online could be stolen at the moment of creation. When you want to store your bitcoins really secure you should use an offline created paper wallet or an hardware wallet.

When you hold your bitcoins as an investment for the long term, a paper wallet is an good option. In this case you don’t need to make transactions and you still can send additional bitcoins to your public address while your wallet is securely stored in your safe.

When you want to take profit by selling your bitcoins you will need to create an online wallet first and import your private key. This is quite some work, but in case of a long term investment you will have to do this only once.

An hardware wallet is an better option when you want to store your bitcoins secure, but also need to make transactions sometimes. The hardware wallet is like a barrier between the online environment on your computer and the hardware where your keys are stored on. This means that you can even do secure transactions on a infected computer.

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Paper Wallet
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