Bitcoin paper wallet is considered the most secured and less expensive wallet for BTC storage. This mechanism is not new, but people used this technique in the initial stages of bitcoin security issues. We can say that paper wallets are one of the oldest cold storage wallets for any crypto. Nowadays many websites are offering the free services of generating paper wallets. These website works are accepting donations to run the project.
Recently a famous website was sold out and later on people reported that their private keys were compromised. Due to this different people are scared of using paper wallets. If you are one of those who think their private keys are not safe you can use an online generator. Almost every tool is available on GitHub and even you can download the offline generator from the official websites too. Some sites are not offering offline creation of btc paper wallets due to security reasons. We will discuss the cons of offline wallet generation in detail here. Stay with us.
How to Store Bitcoin With Paper Wallet
To store bitcoin with a paper wallet you need to generate paper wallet keys. These keys consist of two different addresses. The keys are known as Private keys and Public Keys. Most of the wallet-generating tools add a QR Code that is used to scan your wallet. You can send a Public key QR Code to one who is sending you digital currency. Different currencies are not supporting the same wallet. But Bitcoin is the only currency that you can use with any paper wallet.
Public keys are used to send bitcoin to paper wallets. You can use public keys to get a bitcoin wallet into your paper wallet. You can share public keys with anyone, you can even share your public key on social media or you can send this key to a person who is willing to send you BTC.
Private keys are opposite to the public key of Bitcoin paper wallets. Private keys are used to withdraw the coins from the wallet. Private keys are very confidential if you send your private key to someone the person will be able to access your fund on the paper wallet. We can say that the Private keys are the password of your paper wallet. Keep your private keys safe to secure your bitcoin. All your efforts and focus should be on keeping your private key private. We have seen people using different methods to keep private keys away from people. One thing that you should know is if you are using a paper wallet it's 100% if no one can access your private keys. Always keep your private keys in a locker or in a location where no one can access them except you. When it comes to funds inquiry: a public key can help you check funds in your wallet.
Best Place to Store Your Bitcoins Offline
The best place to keep your bitcoins offline paper wallet is a locker. Lockers have the ability to resist all unauthorized people to get your key details. However, if the people around you are trusted you can store it in your drawer. People use to keep bitcoin paper wallets in the office. But the office is not a suitable place to keep bitcoin wallets. If you don’t trust anything. Even, the locker is also not an appropriate solution. You should go for a brain wallet. You need to remember a phrase. You don’t need to get prints of wallet addresses, nor need any online storage. But to keep btc in the brain wallet is not a good option according to the experts of the field.
Digital Currency Storage Device
Digital currency storage devices refer to the cold storage devices that are manufactured to just store bitcoin or other cryptocurrencies. The best device among all the cold storage devices is a Trezor. This wallet is a very secure one and even this wallet has a low price range. Ledger nano. X is another best wallet, but ledger nano is expensive. If you are investing in crypto and you are a middle-level man or woman you should use only a paper wallet and nothing else. The reason behind this is: it is very cheap and more secure than other hardware wallets. Bitcoin Hardware Wallets are used to Protect Your Private Keys. Keep your private keys safe and easily accessible. In the home, I would recommend.
How to Store Bitcoin in Paper Wallet in a secure way
The mechanism of storing bitcoin into paper wallets is great, but some people reported this about the cracking of cold storage wallets.
How to Create a Bitcoin Wallet Using Our Wallet Generator
You have to visit the official website of the paper wallet that is a btc-paper-wallet.com and follow the below instruction to create a secured bitcoin paper wallet with the public and private keys.
- Visit official btc-paper-wallet.com
- Find the create wallet now.
- Click on the create now button and wait until it shows you the wallet.
- Once the wallet’s private and public keys appear on the screen you will see their print option too.
- Take a print by just clicking on the button or you can write down the keys on paper with a normal pen.
- QR Code and other benefits will not be available if you write the keys on paper.
- Printing is the best option.
Paper wallets are not only a cheap bitcoin wallet but also this wallet is more secure than other wallets including cold and hot. People who doubt the cold storage device should use paper wallets as an alternative. The process of getting a bitcoin cold storage wallet is very simple as you can get it in just a few clicks.