What is Bitcoin paper wallet and how to create it?3 min read

The past few years were the years of innovations and many changes in the modern world. One of the biggest innovations were the cryptocurrencies, especially Bitcoin as the first of them. Cryptocurrencies are digital currencies that work in a decentralized network known as blockchain. It is a completely open system which means that no one controls the cryptocurrencies. There is no need for a single bank or a government to intervene.

One of the most popular ways of keeping your cryptocurrencies safe and secure is by keeping them in a wallet, known as a paper wallet. Bitcoin and most of the other cryptocurrencies can be stored in a paper wallet. As the name shows, paper wallets are made of paper, even though they can be made of plastic too, or any other material on which information can be printed.

Simply said, a Bitcoin paper wallet is a printed paper that contains public and private key together. It is also known as cold storage, which means that it is a storage that is not connected to the Internet. The public and private keys are printed on the paper wallet and they are in QR form.

Apart from the QR code, paper wallet contains the Bitcoin address too. If you want to print a paper wallet, you just have to copy and paste the keys in a text document and print that. Paper wallets are most popular because they are offline, on a paper, which makes them completely secure. As long as the paper wallet is safe, your Bitcoins are safe too.

On the other side, if someone knows where you keep your paper wallet, they can steal it from you. However, this is not a common thing, because everyone hides their paper wallet in a safe place, away from other people. Also, you have to make sure that your paper wallet is away from a fire, in order to avoid any fire damage. If you do something to the paper wallet that will cause damage and you are not able to read the keys, you will lose your Bitcoins.

Midchains is a place where you can buy and sell cryptocurrencies in a fast, secure, and easy way. There, you can find the most popular digital assets with which you can trade, and you can be sure that your Bitcoins and your Bitcoin wallet are totally safe.

How to create a Bitcoin paper wallet?

There are some great paper wallet generators where you can create your own Bitcoin paper wallet. For example, Walletgenerator and Bitaddress are great platforms where you can create a paper wallet. They use your browser’s engine and create your wallet, which means that your keys will not be sent online.

Furthermore, you can go to Bitcoinpaperwallet where you can create a beautiful, colourful paper wallet for your Bitcoins. Another great platform is Mycelium where you can generate secure paper wallet by using USB that you will put into your printer.

Bitcoin is so popular cryptocurrency that today its value is more than $3,000. If you own some, you have to make sure that you have stored your Bitcoins safe and secure. Paper wallets are a great way of doing that.

About the author