Best Bitcoin Paper Wallet Generator For long Term cold storage

Best Bitcoin Paper Wallet Generator

“Bitcoin as an asset class is brilliant, as a means of payment fantastic” (Max Keiser)

Bitcoin is a virtual currency and is also known as cryptocurrency. Like cash or credit/debit cards it can be used to buy products/services. But, presently it is in an emerging phase and with time its acceptability will enhance as influential people and businesses will adopt it as a means of carrying out business transactions. As recently, Tesla has started to accept bitcoin as payment for its cars in the US. In his tweet, the CEO Elon Musk has also announced that the option of paying with bitcoin will be available to other countries later this year.

A paper wallet is a printed piece of paper that contains keys and QR codes. The information shown on a paper wallet is used to carry out cryptocurrency transactions smoothly. Paper wallets help in keeping the bitcoins safe from various forms of cyber infringements.

What is a bitcoin paper wallet, how does it work

Having a single private key and Bitcoin address

What is the difference between a normal wallet and a paper wallet

On the other hand, in a paper wallet, the private keys are printed on paper, and in case if there are multiple keys printed on the same page this can trigger confusion. Even if multiple keys are printed on separate pages these become difficult to manage.

Security: In a normal wallet, the private keys are stored offline on a device making it secure. In some cases, these are also accompanied by security features like a chip with added security, which means that even in case of any cyber infringement like virus or malware the hardware remains intact thereby protecting from any security breach. Another major point is that the normal wallet has a feature of backup recovery.

On the flip side, the paper wallet is extremely secure as it is offline, and no spammer can use it to steal the cryptos. Moreover, the feature of backup recovery is absent and in case if you lose the paper wallet and do not remember the private keys, you lose your digital assets.

Damage: A paper wallet is highly vulnerable to get damaged as the paper on which private keys are printed may fade over time.

In the case of a normal wallet, the private keys are safely and securely stored in a sturdy piece of hardware device leading to fewer chances of physical damage.

Cost: A paper wallet has an advantage over a normal wallet as it can be used free of cost. In the case of a normal wallet, the user has to incur a considerable upfront cost for purchasing the device, the price of which varies according to the features it offers. Additionally, it is not worth purchase if the user has a small number of tokens to be stored as in that case the cost will exceed the benefit to be derived from this mode of storage of private keys.

Coin support: The paper wallet do not support different cryptocurrencies. However, a normal wallet offers a one-stop solution for the management of the same.

Why use a bitcoin paper wallet?

There is no risk of hardware or software failure. In case the user wants to store bitcoins over a period of time, a paper wallet is considered to be the most secured method of storage;

Bitcoin paper wallet can easily be generated on wallet generator and as the setup process gets completed, all trace of data gets deleted from the website thereby avoiding the risk of cyber-attacks; and

Printing a tamper-resistant wallet minimizes the exposure to hackers and spammers as well as deceitful people around the place of storage. Moreover, it is important to take care of the wallet just like the expensive jewelry and cash.

How to use a bitcoin paper wallet?

What are a public key and a private key?

Top bitcoin paper wallet generator websites

  • btcofficialwallet.org
  • bitaddress.org
  • bitcoin-paper-wallet.net
  • walletgenerator.net
  • btc-paper-wallet.com

What is the safest way of storing bitcoin?

What is an offline bitcoin cold storage wallet?

Btcofficialwallet.org as best paper wallet maker

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