Bitcoin (BTC): Information on the implementation of the paper wallet – 23/04/22 – News

Saturday 23/04/2022 14:00 from Echo BTC

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A gold coin. © bodnarchuk/iStock Editorial / Getty Images Plus/Getty Images

Stock market hack, swapping SIM cards, losing a smartphone or laptop – hot wallets are handy but vulnerable. A paper wallet can help here. With relatively little effort, which you can see for yourself in our paper wallet tutorial.

The argument that custody of Bitcoin is a complicated question, persists. There are now many desktop and smartphone apps that allow you to create a Wallet child’s play – if you can read. The problem: Since smartphones or PCs are usually connected to the Internet, custody of Bitcoin on these devices carries an inherent risk. Malware attacks put access to repositories at risk, as does the possible loss of the mobile phone. One thing is certain: the private keys for you Bitcoin-Keeping wealth properly must be learned. One of the safest methods is to create a paper Wallet.

What is a paper wallet?

First of all: everyone must answer the question of what effort is appropriate to secure their crypto assets for themselves. For technically inexperienced people who also only want to hold relatively small amounts, a software wallet with an intuitive user interface may make more sense than getting bogged down in splitting the private key, for example. Another advantage of online (also: “hot”) wallets is that cryptocurrencies are faster to use when it comes to transferring, paying or exchanging.

The paper wallet in its digital form.

It is advisable to be Bitcoin-Spread assets across multiple portfolios to reduce the risk of total loss. Paper wallets can be introduced to the analog world via the “Print” button. Here too, a printer must be used which is not connected to any network.

Now you can always take the printed paper wallets with you Bitcoin to fill. To do this, you send BTC to the public address (“Look and Verify”).

Tips for Handling Paper Wallets

A paper wallet is only as secure as how it is stored. Since paper is not known for its durability, there are a few things to consider when storing a paper wallet:

  • Store the paper wallet in a sealed plastic bag to protect it from water and moisture.
  • Alternatively or additionally, laminate the paper wallet.
  • Store the wallet in a safe to protect it from theft and fire.
  • Keep a copy of the paper wallet in a safe place, with a trusted person or a notary

Who knows more about the different types of wallets would like to learn, let our BTC-ACADEMY warmly recommended.


This article was previously published in December 2020. It has been checked and adjusted accordingly for republication.

Keeping Bitcoin safe – on paper first appeared on BTC-ECHO.

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