Bitcoin Forum

I just wondering why some people don't use paper wallet to secure their bitcoin, Some of them are just putting to the exchanger and trust their funds that no assurance of safety.I don't understand why they did not use the most secure way to keep their bitcoins.

Any Thoughts?

Paper wallets are safe but they are messy: you can lose your paper wallet or you may make a lot of copies but then you might unintentionally reveal one of the copies to somebody.

However, what data do you have to back up your claim that it is not used? I am sure some people use paper wallets.

People leave their funds on exchanges as so that they can be traded easily and to prevent moving funds from one wallet to another; not knowing the risks of leaving funds on exchanges. Though paper wallets are pretty easy to make, they aren't easy to make in a secure manner in my opinion. So my suggestion would always to purchase a hardware wallet like the Trezor[1] or the Ledger Nano S[2] instead. Hardware wallets are simply more noob-friendly.

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[1] https://trezor.io/
[2] https://ledgerwallet.com/

I don't use a paper wallet either. I divide coins into many pieces which are stored on different resources. This makes storage safer. Paper wallet is very inconvenient. The transaction price in December was very high. The transaction confirmation time was also very long. This makes it uncomfortable for traders to use a paper wallet.

If we are long term holders and we hold a huge amount of bitcoin then it is good to place our bitcoin on paper wallet. But to traders and small time holders we need to place them on exchanges so we can trade them and earn some profit. We can only keep our bitcoin at the paper wallet if we have more excess bitcoin.

I think it's more secure when your money is digital rather than fiat because we all know how digital money is very convenient and less mass if you have it, you will just be needing a trusted wallet for your money. Also fiat money is very complicated when you are buying something and your cash is big, so your change would be many fiat money including coins but if you pay using digital the you only payment directly from your digital wallet and fix digit is deducter to it no more change and many coins.

It depends on the use case. If you want to use your bitcoins daily, then it would not be practical to store bitcoins on paper

wallets. Paper wallets are more suitable for long-term cold storage, because it is quite a process to store and sweep coins onto

paper wallets and back. You use web wallets and hardware wallets for more flexibility.  ;)

Most of the people in crypto did not use paper wallet, they putting their funds in exchanger because in traded you can easily use the funds.

If really depends on you. If you are going to be a long term bag holder then its much better to secure it using paper wallet. As for putting funds in exchanger, the most logical reason is that for trading purposes only.

But the problem lies on people keeping too much funds on a exchange and in a likelihood of a hack or a inside job, all your coins vanished in thin air. You can try using a paper wallet here: https://github.com/pointbiz/bitaddress.org

I just wondering why some people don't use paper wallet to secure their bitcoin, Some of them are just putting to the exchanger and trust their funds that no assurance of safety.I don't understand why they did not use the most secure way. So I think the paper wallet evrybody should be used.

But then some of the investors is not using the most secure way to hold their Bitcoin,I know that fact that they just store their Bitcoin into the exchangers even though they are not using it for daily transaction.The funny things is,some of them don't know how to use the paper wallet

Actually, if the paper wallet is more suitable for those investors who invest long-term, and most who put their bitcoin on the exchange are those who trade fast.

I don't think paper wallet is advisable for the storage of bitcoin, because paper wallet it might end up loosing and misplaced it and also it is wasting of paper. It is pretty much good if you don't have trust to online wallets that we are using now, hardware wallets are available. At least you can keep it with you all the time and it's like a flash drive.

People have their own different ways to secure their Bitcoin, some uses cold storage like hardware and paper wallets because they will hold it for long term investment, while some uses hot wallets because they do trading but of course this cannot be considered as secured as you are trusting them to have full control of your funds, the other reason why people store their Bitcoins on exchanges because they want to get rid of transaction fees and be able to trade easily whenever they want to buy altcoins at the dip. Paper wallets are one of the safest way to secure your Bitcoins but not all people have knowledge to create one, you also have to be careful on which software you will use to create one.

Maybe its due to certain reasons they have just like when transacting Bitcoin which is so slow sometimes that’s why they just leave their funds on exchanges. And offline paper wallet also is risky if not backed-up by a file in computer just like be eaten by termites or soak with water.

Everything comes with a responsibility.
Paper is a good idea. I have always been looking to save info on that.
BUT
Once the paper is lost it will be a hell for you.

Maybe Paper plus USB device.

So we have 2 places to secure data.

Case to case basis. If one would rather hold their Bitcoin long term and forget about it then comback after a year or two, then paper wallet would be one of the safest. But if someone who held their investment actively, like trading, its better store it in an exchange for easy access.

Paper and cold wallets has its own risks as well. Misplaced, Natural disaster , and any kind of incident that causes it to be lost.

why some people dont use paper wallet? I think they dont you paper money because paper money is tiny and easy o loose and misplaced, better to use paper money if you have a huge amount of bitcoin and if you want to hold it for long time.

people often use comfort of exchanges where it takes almost no efforts to store and trade their cryptos. But yes, paper wallet is a good old school option and it's safe if you know where to hide it :)

some of them are traders which means they have to store their funds on exchanges while they are trading. and trading is not something you do one day and give up doing the other, your funds need to be active constantly from one order to another and sometimes you need to have an open order on exchanges so you keep some funds there eventually.

anyone who does it for any other reason is taking an unnecessary risk and they need to transfer it out to a cold storage (only one form of cold storage is paper wallet).

peoples want increase their bitcoins by trading or investing in altcoins

I also put bitcoin on the exchange and did not put in the paper wallet because I think put the wallet in exchange we can do bitcoin trade with the near term difference with paper wallet.

It is true that many people who use the wallet exchange and rarely use paper wallets, maybe I think the wallet exchange has the ease of doing the transaction.

something that nobody else mentioned is that none of these exchanges, webs wallets, web "vaults",... that some people use to store their bitcoins instead of using a cold storage, they are not saying "we are unsafe"!!! that would be killing their business. instead they all say we are secure, using top secret facilities with high tech security, and stuff like that and it gives newbies some kind of assurance. or maybe we should call it a false sense of security.

I really do not think that a lot of people are doing as what you are saying. Specially the big holders or the ones that are working hard for their possessions. I just can't get myself to see such a scenario. Maybe for some, because they only have small amounts and want to day trade with those bitcoins. But other than that? I really cannot see any reason good enough to make someone do this. The most common thing I see is people doing both for varied purposes. But if there really are people that are doing this with huge funds, and just leave their funds sit on an exchange, they are either rich as fck or on a whole new level of stupidity.

I think that many bitcoin holders are not engaged in the correct and reliable storage of bitcoins, because they have never been victims of fraud. Such is the nature of man, to do something after it's already happened. I mean, they're gonna start looking into security when their money disappears from their wallet in one day. Honestly, I don't understand the logic of such people, why take the risk?

I save bitcoin or digital coin payment in im Token, because bitcoin is an isovation that uses gidital payment, therefore i store the data "bitcoin and whatever it is i save in im Token.

I use the paper wallet as a cold storage to store my Bitcoins but I find it inconvenient to use for recurring transactions so I don't use the paper wallet for more than a single outgoing transaction. I know paper wallet is a secure way to hold Bitcoins but I feel uncomfortable and insecure about using the single paper wallet for multiple outgoing transactions. I use hardware wallet which is flexible and secure in my opinion.

I never used paper wallet.
Paper is too much Toilet significant.
I don't want to associate money with it.
Bite me!

I don't like them. Wallet papers are easy to be destroyed or damaged. I prefer to save my private keys in different ways to minimize the risk of loosing them.

People don’t want to find right way how to store money. Most investors don’t understand Bitcoin and blockchain advantages. They just see how much money they can earn. So they use exchange platform for storing digital assets.

People are lazy and you can do nothing with this.

The paper wallet does not have a backup, so losing or destroying it means losing money. As with any type of wallet, do not share keys, i.e. print in this case, to third parties. If we want to ask someone to send us funds, let's do it in the block transactions, described in the above chapter. The chart must be kept in a safe place, not in sight! The last thing is that the paper should be protected from moisture or other means that can destroy the print, whether by laminating or storing it in a dry box. Remember that the sun causes ink fading, and painting can blur the printout to such an extent that it will not be possible to use the wallet.

for long term investment in btc paper wallet is a secure way to store bitcoins but people who like trading daily or short term basis store their btc in exchanges which is not secure way exchanges could be hack

Paper wallets where the very secure way of storing money back in previous days, of course, they are a very old concept but they are not forgotten. I have my paper wallet since 2013 and I am sending some funds every month from my earnings to that wallet even though it was not a segwit address but still, I want to see how much money I can make by this in 10 years.

I don't get this with losing paper wallets. Do you lose your credit cards often?
Paper wallets are easy to use, relatively safe and are, for most people, a perfect choice. I also believe that the majority of people uses them. Maybe you could make a poll if you are interested to know the answer?  :)

By the way, use SegWit - safer, faster, and soon to be well adopted.

what I had in mind is that the paper wallet (not being in a form of a plastic card, but rather just a sheet of paper), can be easily confused with some disposable paper sheets and thrown away. Maybe if you have a safe in your house then you can keep it very very safe, but otherwise your wife or kids may throw it away while doing housecleanings. Or your dog may eat it (have you watched "Paterson" movie?).

If you change the form from paper to some other more durable material (plastic or metal - cryptosteel is a great example) it is much more difficult to lose it like that, I agree.

By the way - I use SegWit :)

There you have it - a very simple solution to a very difficult problem :)

Good for SegWit :)

there are risks related to paper wallets as well. And mostly, it's less convenient for people who think they won't get affected by hacks or exchanges shut downs. Most cautious people are the ones that got hurt already :)

Maybe because they are no that technical people and dont want to understand how public address and private key works. Most of these people are new to bitcoin the newbie on crypto world.  This is because it is easy for them to create an account to an exchange example coinbase. then leave it there.

However, as more and more experience they gain and if they continuously read articles about securing bitcoin. The time will come when they will by a hardware wallet or create a paper wallet for their long term HODL crypto.

Actually I etched a thick copper plate with the info I need (it is not a paper wallet, but rather a hardware wallet seed words, but the principle is the same and if it were on paper only, it would be equally easy to lose). And I learnt quite a lot in the process so I encourage everybody to do it himself.

Probably they are regular day traders and not a long-term holder, risk of getting hacked is pretty high compared to an offline environment most especially if you own large stash of bitcoin and other valuable altcoins and you are just storing it on a hot wallet, long-term plus sums of coins must be stored on any secured cold storage.

He is not asking about the fiat currency, the Op revolves around the topic about the paper wallet the one that's we need to print in order to store bitcoin physically including the private keys on the paper itself be sure to read the topic carefully

I agree!
The same principle applied to other cryptocurrencies, too. It depends on your purpose with those coins, if you planning to make some profit by trading, then paper wallet would be a pain in the ass. Paper wallets could offer a simple way to store your coins if you're too lazy to maintain a trezor or ledger nano device.

if you want to use your btc daily then u cant store your bitcoin in paper wallet.paper wallet is safe but so hard.and another thing is to reveal your private key to others :)
exchange is risky but safe too.

storage of funds in different purses - the best option for storing coins. Paper wallets are inconvenient

You are right!
I use paper wallet. About one year I asked it for me here..
I think this is best way to safety and easy to use too.

I agree that the paper wallet for storing bitcoins is the most reliable. I use it myself. However, it is not the most convenient. Especially when you need to use the wallet every day. This is the main reason why people prefer other ways of storing bitcoins.

See, even Troglodytes can think.  :D :)
Sorry Pan T., I had to.  8)

A very good advice, I hope many people will follow it.

Not everyone is industrious and inquire about issues related to bitcoin and how to use a bitcoin purse. They invest in bitcoin and they only care about profit, which has led to many people who have been cheating a large part of their property.
Maybe they have another way to take care of their wallet.

The security is very much necessary when u are investing and earning online because there are many hackers who can simply steal your money even without your knowledge so that confidentiality is very very necessary during online transactions and for that you need a trusted wallet who can keep your bitcoins safe and I am so much impressed with your idea of using a paper wallet but the problem is that many of us even don’t know how to use bitcoin purse so for that you have to be very conscious and have to keep your wallet pin very confidential.

It is not really complicated to understand why people do not use paper wallets to secure their bitcoins, paper wallets are very secure but if you want to use your bitcoin then it becomes very rapidly a hassle to use them, those that keep their money in an exchange are doing it out of convenience, that way they have access to their bitcoin no matter where they are in the world, so as you can see it is a matter of priorities, if your priority is to keep your bitcoins safe and secure then a paper wallet is one of the best choices, but there are people that have different priorities and they prefer convenience over security.

You would rather hold their Bitcoin for a long time and forget it then comback after a year or two, then a paper wallet would be one of the safest. But if someone who makes their investment actively, like a trade, better keep it in exchange for easy access. The transaction confirmation time is also very long. This makes it uncomfortable for traders.

. Wallpaper is more suitable for long-term cold storage, because it's quite a process for storing and sweeping coins, and we hold a large amount of bitcoin then it's great to put our bitcoin in paper purses. But for traders and small holders, we need to put them on the exchange so we can trade them and make a profit

I agree paper wallets are messy, since you will have to update it everytime you make a transaction, it is a good way of saving you bitcoins though, but just like any other forms of paper, it can be ripped, crumpled or burned, and data will be loss, not unless you make a back up, but in doing so, you are just like showing to the world your wallet, and though it is hard to hack, you will still need to save your keys somewhere, and to be safe, some also carelessly put their keys and other data on the piece of paper where your wallet is, and then can be hacked, it is much safer if you ymuse a cold storage.

I also would like to see the date wherein how many people uses paper wallet, since it is very accessible.

you choose a wallet base on what you are using it for. if one is trading you don't expect him/her to use paper to store his coin, do? you can only use paper wallet when you for the long-term investment, and mind you paper wallet also has its disadvantages just like every other wallet.

I do not know, I like everything, I never asked this question. I traded altcoin for bitcoin and I'm fine. Thank you... :)

bitcoin paper wallet to be one of the safest so as not to be searched by others. but someone who invests like a trade but we must be patient waiting for the price rise. because the price is unstable sometimes rise sometimes down to get our profit should price rise.

Paper wallet is one of the secure wallet. I also heared that paper wallet is better than hot wallets. But sometimes paper wallet turns into a disaster!  Major problem is that sometimes the change goes to a different address.

I think paperwallet/brain wallet with mnemonic phrase is a really interesting idea.

I put all the crypto money I kept for the future in a paper bag. I have 2 different paper wallets for Bitcoin and Ethereum. I think it's the safest wallet for cryptos.

it seems that bitcoin will not be used for the use of paper purses because bitcoin is a digital currency that can only be done in the digital world can never be implemented in the form of paper wallets.

I know the paper wallet is a very secure Bitcoin storage method, which can help the user avoid hacker attacks because the private key is not stored online. However, besides its advantages, it also has many inconveniences. If you regularly use Bitcoin to trade, I think paper wallets do not suit you. Another problem is that when you lose paper wallet, you will not be able to restore the wallet as some hard Trezor wallets or Nano S Ledger. This is just my opinion

believe me, there are more absurd actions of many investors, of which 90%. I have heard that many people keep money in projects to earn money, because they are misled, as if it is a purse. I also heard that people keep on the exchange, where they buy bitcoin, etc.I no longer wonder. Just don't think about it. People have to go through their experience to understand how to do the right thing. Otherwise people will not understand

Paper wallets are not 100% secure and reliable, one can easily lose access to the wallet through several means especially during fire outbreaks and other disasters. I prefer hardware wallets and application based wallets any day.

In my opinion, this is not the safest way. It is much safer to split into a lot of small purses and put on each very complex system of protection, or trade them in the market, which is the most advantageous option than a paper purse.

I think that people do not keep their bitcoins on a paper purse because they do not understand how to do it. The second reason why people do not use a paper wallet is most likely because of fear of losing it.

They are safe, but you need to understand how to create them first and to do not make any mistakes while you are using them /transfering all of your entire balance to there.
For me, it is risky and i prefer to use hardware wallets, at least, for my own safety

I did exchange bitcoin but not use paper wallet because i think using wallet in exchange we can do bitcoin trade with the normal wallet with the paper wallet.

There are many types of wallets in bitcoin and paper wallets are one of them. But the wallet helps make things simpler

I have heard that many people keep money in projects to earn money, because they are misled, as if it is a purse. I also heard that people keep on the exchange, where they buy bitcoin, etc.

I think they feel its safer that way or the security is better even the exchange is not even safe you can split them to keep them safe .The wallet to use is the offline paper wallet and it features.I always opt for the offline paper wallet its my best

Amongst the current types of digital money archives, it can be said that the wallet used to store Bitcoin is also called extremely secure and secure. Although its durability is not good compared to other wallets, it is still heavily influenced by many communities. A bitcoin wallet is a normal paper, but it stores a copy of the public key and the private key, which makes it a cool wallet.

Maybe because they dont want to print the paper wallet ? You can lose your paper wallet if you not careful.
Some peoples decide to leave their coins on exchanges because usually exchange using cold wallet to secure the exchange coins.

There are two sets of people who could do this: newbies and traders.

Newbies are not so adept at using wallets outside of an exchange and it's preferable for them to store their bitcoins (https://blog.guava.africa/open-bitcoin-account-in-nigeria/) with an exchange. Wallets are of course complicated, especially the concepts of private keys.

Traders, of course, need to have some bitcoins on an exchange in order to be able to carry out trades as fast as possible.

Maybe the person is not capable or paranoid in keeping a physical copy of his account information. It varies from person to person.

in my case i do not need to put my funds in paper wallet i put this on exchanger because it can easy to trade. paper wallet yes its safe but it this use for who can hold there fund for long term and dont want to trade..

Paper wallets are definitely safe but it is hard enough to secure it and keep it at a safe place. Paper wallets also has another disadvantage that it needs another wallet to spend the coins.
It means that the paper wallet can only store bitcoins in to it and if you want to spend it or send it to an address then you will first have to import it to a wallet (eg: blockchain.info) and then send the coins to an address.
This is the reason why most people tend to avoid using paper wallets.

Using exchange wallet is easier than using pc wallet, although you have private key in pc wallet.
This is because when you use exchange wallet, you don't need to download and sync the blockchain database.

The last reply from this thread is august 2018 , lol nice digging tho  ;)

Anyway  , you are correct   . noobs dont engage on trading and investing , therfor they arent require to use some kind of a paper wallet or hardware wallet .

While pro and veteran crypto users are actively buying and trading , thats why they usually store their coins inside an exchange for lesser hassel and for lesser fees as well .

The paper wallet does not physically reflect that it is a digital currency. If you compare security issues, paper wallets are also vulnerable to security, because you only print a private key on paper.

Why don't people keep on paper wallets? ineffective, most crypto users are active in trading, so they prefer to save in exchange.