Are you scared of losing all your precious bitcoins to a hacker one day?
Well fear not!
Because today, I’ll be showing you how to make a Bitcoin paper wallet to keep your bitcoins safe and secure offline.
What’s up cryptopeeps? It’s your girl Maria, here to deliver your daily dose of Bitcoin news.
There are several ways to store your bitcoins but today we’ll be focusing on the paper wallet.
As the name suggests, it’s made out of paper and is the ultimate form of cold storage.
It consists of two parts: The printout of the private key,
and the printout of the public key of your bitcoin address.
The public key is what enables you to receive bitcoins,
while your private key allows you to
unlock and spend your bitcoins.
As the name suggests, the latter must be kept privately.
But why create a paper wallet if there are tons of other ways of storing your bitcoins online?
Well, accounts can get hacked, and even mobile wallets can get breached.
There’s even a chance you could lose your smartphone since you bring it everywhere.
Paper wallets are safe from any form of digital attack.
Getting a paper wallet is super easy!
You can simply find a paper wallet generator online.
Bitaddress.org is worth checking out since it uses key generators
To create a wallet on BitAddress,
all you have to do is go to the site, generate a random private key, and click “paper wallet”.
It’ll then ask you how many copies of the wallet you want printed and voila!
You have printed yourself a paper wallet!
From there, you can send funds to the public address shown on your paper wallet.
After transferring your funds, you can search for your public key on blockchain.info
to see the progress of your transaction.
For more wallet options, you can also check out Mycelium.
It’s perfect for those who don’t want to go online at all
by providing a USB that you can plug straight to your printer.
The device generates a paper wallet that automatically gets printed out.
But let’s be real.
Paper isn’t foolproof and it can get damaged or lost.
For the long time HODLers, one way to keep your paper wallet extra secure
is to divide it into different parts and hide it in different places.
That way if one of them is found,
the person still won’t be able to access your money.
However, this is also risky.
Another alternative to accomplish what paper wallets do is to use seed phrases.
Seed phrases are random words generated by your wallet that you need to write down.
That way, if your computer or hard drive gets corrupted,
you can download the same wallet software again and use the paper backup to access your bitcoins.
Got any other ways to safely store your bitcoins?
Let us know in the comment section down below.
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and once again, my name is Maria and this is WeTheCryptos.