A paper wallet is a name given to an obsolete method of storing bitcoin which was popular between 2011–2016. It works by having a single private key and bitcoin address, usually generated by a website, is printed out onto paper and again in 2020, crypto folks started using it again with different techniques, to handle paper sheets. This printable paper wallet’s method involves generating a secure offline BTC wallet and print it on hard paper and secure it.
Just create a wallet through a secure website like btofficialwallet.org and print it on a sheet of paper. A normal wallet is a pocket-sized flat folding case for holding money and plastic cards whereas, a paper wallet is a printed piece of paper containing QR codes to facilitate cryptocurrency transactions. The reason many cryptocurrency holders use a paper wallet is that they don’t need to worry about a piece of hardware or a piece of software failing, all they need to take care of is a piece of paper. They are classed as the most secure method of holding Bitcoins. Bitcoin Paper wallets are the safest long-term storage.
Best Bitcoin Paper Wallet Generator
You can use any bitcoin paper wallet generator online to get started e.g: Btofficialwallet.org as this site creates your wallet with the corresponding QR codes and keys and once it’s been generated, your data is wiped from the site, preventing any keys from being saved internally. Using this website,
- Just log in to Coin base, go to ‘Accounts’, click on the ‘Receive’ button for your Bitcoin account. This will display a QR code on your screen.
- Now open up your paper wallet to reveal the private key and QR code.
- Now scan your private QR code using your phone’s wallet software and that is it.
What are Public and Private Keys?
Another thing that you need to know is about Public keys and Private keys. The Public key is used to receive funds, and the Private key is used to sign transactions to spend the funds. When spending bitcoin, the current bitcoin owner presents her public key and a signature ( different each time, but created from the same private key) in a transaction to spend that bitcoin.
Generate Bitcoin Paper Wallet Using Top Websites
There are different websites that help generate a bitcoin paper wallet, but the top websites are bitcoin-paper-wallet.net, WalletGenerator.net, and Btofficialwallet.org. For those who are new to this cryptocurrency world, it is preferable for them to try any of these three websites. This third website mentioned above offers the safest way to serve bitcoins. It clearly states the ways to keep paper wallets secure. A paper wallet is one of the types of Cold storage wallets or offline wallets which includes one of the safest ways for holding bitcoins as these wallets are not accessible via the internet. The website mentions that the best way to save paper wallets from water damage is by using plastic sheets with a laser printer. Generate Bitcoin cold storage key and print it on a plastic sheet. The laser-printed documents on a plastic sheet will never get erased easily. Keep that printed document in any locker or fold it and place it with your original documents. Btofficialwallet.org mentions each and every detail about this article regarding Bitcoin paper wallets.