Matomo

Paper Wallet

A paper wallet is a method for securely storing cryptocurrency by printing the private and public keys on a piece of paper.

What is a Paper Wallet?

A paper wallet is a physical document that contains a cryptocurrency’s public and private keys. It is often generated through a wallet generator tool, where the keys are printed on paper and sometimes accompanied by a QR code for easy scanning. This makes it a form of cold storage, keeping the keys offline and away from potential digital theft.

Paper wallets are considered one of the most secure ways to store cryptocurrency, as they are immune to hacking or malware attacks that can compromise digital wallets. However, they come with risks, such as physical loss, damage, or theft. Users need to take extra precautions to protect and store the paper securely.

An example of using a paper wallet would be creating one to store Bitcoin for the long term, ensuring the private key is never exposed online. Users can later access their funds by importing the private key back into a software wallet when they are ready to make transactions.

While paper wallets provide security by being offline, the process of generating them must be done securely, ensuring the private key is not exposed to the internet or compromised by malware during creation.