Paper wallet for Bitcoin
In recent months, there has been more and more talk about the appearance of so-called “paper wallets”, which contain all the information you need to have about your virtual wallet on one piece of paper. As their name suggests, they are most often made of paper, although they can also be made of any other material such as plastic. It is an offline banknote that is considered to be the subject of cold storage and is resistant to internet hacking if you follow the rules of its use.
The paper wallet contains private and public keys that serve as the wallet address. You can print this out very easily, and later delete the copy on your computer, and carry all your data with you or keep it in a safe place in the home where no one will be able to steal it from you. Key generation is usually done in your browser, so this information is never sent to the Internet.
What makes paper wallets safe is that they are completely offline and out of reach of hackers who could hack your wallet and transfer funds to unwanted addresses. In this way, you avoid the presence of third parties and thus secure your crypto assets. But every medal has its two sides. Here, you reduce the risk of someone stealing your property online, but you run the risk of someone breaking into your home, finding your paper, cashing in your coins, and putting everything back in place as if nothing had happened. Also, the question arises how to protect paper wallets from fire and water. Furthermore, the paper itself is not an eternal form, the ink on it fades after a few years.
Although you keep your cryptocurrencies in the form of paper wallets, you can always check the balance of assets in your accounts. all you have to do is enter the blockchain.info page, enter the public key in the search box, and if you want to spend your cryptocurrencies you need to enter the private key or scan it using your mobile phone. Both the public and private keys are on the printed paper of your wallet.
Good paper wallet generators
Bitcoinpaperwallet.org will create colorful paper wallets with matching folds that serve for recognition and as a wallet key.
Mycellium offers perhaps the most innovative and effective way to store your cryptocurrencies and generate paper wallets. Using a USB port that connects to a computer, it prints a paper wallet without you ever actually being on that computer, creating a completely secure wallet because your data is not written down anywhere.