If you’re interested in different ways to store Bitcoins, you’ve probably heard of the paper wallet. Since this is a very secure way to keep them, you are probably wondering…
how to make bitcoin paper wallet
If you’ve read how to choose a bitcoin wallet , you might be interested in learning more about bitcoin paper wallets. It’s a highly secure way to store your assets, and it’s relatively easy to get one made.
What is a Bitcoin Paper Wallet?
Bitcoin paper wallet is your public and private keys printed on a sheet of paper. It is a simple instrument to receive, store and withdraw your Bitcoins. It has two QR codes on both sides, making it one of the most beginner-friendly wallets out there.
bitcoin paper wallet
Are paper wallets really safe?
Paper wallets are generally counted as cold storage, which means that your digital assets are stored offline. This is a much more secure method than keeping your bitcoins in a hot wallet where anyone with an internet connection can access and steal them.
Despite this, paper wallets also have their risks. Anyone who sees them can steal your funds, so they should be stored safely. Apart from that, you should also consider their fragility. Ordinary pieces of paper can decay, burn, or get wet and become unreadable. You may want to store them in a fire, water or damage proof place and print with quality ink on high quality paper. Some people even go so far as to laminate their paper wallets to make them more resistant to damage.
Using a paper wallet is quite simple. You can load funds into the wallet using its public key or QR code. If you want to export these funds, you can import or swipe the private key into a software wallet and send them elsewhere.
bitcoin paper wallet generator
How to make a bitcoin paper wallet?
These are free software specifically designed to generate secure Bitcoin paper wallets.
- Mycellium Entropy
- mycellium entropy paper wallet generator
The easiest way to generate a paper wallet is to follow these steps:
- For this specific example, we are going to use the BitAddress paper wallet generator.
- Once you are on the home page, move your mouse cursor anywhere on the screen or type random letters in the text box given to gÃ Generate the most random sequence of letters and numbers.
how to make paper bitcoin wallet
- Once you have reached 100%, you can specify the type of wallet you want to create. The default option is “Single Wallet”, but you can also click “Wallet” for a sheet of paper with multiple wallets.
bitcoin paper wallet making
- Your bitcoins can be stored via the public address located on the left of the sheet. You can also select additional options, such as hide cover, add passphrase and BIP38 encryption, and other addresses. When done, click the print button, delete the digital wallet files, clear the browser cache, and your paper wallet is ready to use.
generating bitcoin paper wallet
Here is your very own Bitcoin paper wallet!
If someone steals it from you, there’s no way to get it back. It’s also possible to accidentally expose your printed private key, so be careful.
The risks of generating a paper wallet
The process described above is not without risk. You should know that someone can always steal your private keys if:
Someone hijacked your computer or internet connection and could have seen everything that was happening on your screen while you were generating the wallet.
If someone hacked BitAddress or another online wallet generator you were using, they might be able to collect all user-generated private keys at that time- the .
Your printer or computer may be configured to save copies of all files you print. They can be stored in the cache of your computers or your printers. So anyone who knows how to find them there (using malware or accessing your hardware) could hack into your paper wallets.
However, there’s no need to worry if you’re at least somewhat proficient at securing your devices or if you’re not going to stockpile large quantities. ©s of Bitcoin in your paper wallet. Also, you can always use a more reliable computer or a more secure internet connection. You can also try the previously mentioned Mycellium Entropy device to generate a highly secure paper wallet.