Paper wallet — a combination of public and private key of a wallet, printed on the physical medium (usually paper, as you might guess). It is often called cold storage of cryptocurrency, as it is completely isolated from the Internet and cannot be “hacked” from the outside. If you want to save a large amount of money in Bitcoins, we recommend you personally to create a paper wallet and store it in a very safe place.
How to do it?
The format and appearance of a paper wallet can be made at your discretion. As a basis, it is recommended to use plastic or metal to cold storage was more sturdy and durable.
Usually public and private key are applied to the purse in the form of a QR code. Generate and print a unique Bitcoin address, you can use the service bitaddress.org. The website creates the cold storage using the random number generation directly in the browser. Secret combinations are still you and are not stored in bitaddress. For added security, do not save any images to your cold wallet on other devices.
Another option is WalletGenerator. If you choose Russian language in the top of the screen, problems with the procedure will not at all.
For these services need to move the mouse to increase the randomness of the generation. The authors also recommend to disable the Internet and run the generators from a local HTML file, download archive on GitHub. Don't forget that.
Also note on the tools Mycelium. It uses a different method of protection during the generation of the purse. True, it will have to purchase a unique USB generator Mycelium.
High security cold storage depends on its physical location. Metal plate with the QR code is completely isolated from the Internet, so hackers will not be able to reach her. In this case, the security of your funds depends entirely on how well you can hide your paper wallet. If attackers can find it, you will likely lose all of the money from this purse.
That is why in many wallets use additional protection like seals or coverings that conceal the private key. Overall, using the service to generate the public address of the cold storage you can even make some semblance of a business card with a QR code where you can donate cryptocurrency.
See also: How to store bitcoins and other cryptocurrencies?
In cold paper wallets, there is one drawback — if an attacker does manage to get to the card with a private and public key, he will be able to transfer all the coins user to their accounts. That is why a paper wallet you need to protect. It is best to store it in the safe, resistant to severe external influences.
Recall to check the balance of your paper wallet is easy using the service of the Blockchain or any other blockchain Explorer. And visitors of our cryptodata definitely have experience in the use of reliable cold wallets. Join them!
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