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Title: What do you think of paper wallets? Post by: designbuyers on April 13, 2021, 04:49:19 AM What do you think of paper wallets?
Title: Re: What do you think of paper wallets? Post by: WalkerIVIV on April 13, 2021, 06:16:25 AM Paper wallet is the safest wallet to store your key offline but when you wanna try to open your wallet and you will need to put your privatekey again. There's another option just like scanning the barcode on your paper wallet but i think this is the safest wallet to store your money.
Title: Re: What do you think of paper wallets? Post by: Bttzed03 on April 13, 2021, 06:32:43 AM It's one of the most secure and cheapest way to save your private key or seed phrase offline. You might need to laminate and use other tools to prevent it from being destroyed through disasters or wear and tear though. You also have to store it in a place only you (or someone you completely trust) can access.
Title: Re: What do you think of paper wallets? Post by: Luffygroove on April 13, 2021, 08:19:09 AM oh well, I still don't think any wallet is actually really that safe, including a paper wallet. An online wallet is prone to hack, a hardware wallet like a ledger wallet isn't safe from damage also, since it's physical stuff anyway. If this paper wallet means literally seed that's printed on a sheet of paper I still have a doubt it's safe too since the paper is easy to be wrecked. But, if it's printed on an uneasy broken substance and you keep it somewhere really safe, probably yeah I consider it the safest wallet. Just let's pray all of our treasures are safe lol.
Title: Re: What do you think of paper wallets? Post by: dihari on April 13, 2021, 08:39:55 AM In simple words, paper wallet is an offline method to store bitcoin.
I have found all complete article that makes you understand what is paper wallet and how it works. Here https://www.gemini.com/cryptopedia/paper-wallet-crypto-cold-storage And here is where you can generate keys for paper wallet https://www.bitaddress.org Title: Re: What do you think of paper wallets? Post by: Jackl87 on April 13, 2021, 08:56:58 AM What do you think of paper wallets? A paper wallet is a very safe way to store your coins and of course way safer for you than to have your assets on a wallet that is on a pc which is on the internet 24/7. So if you you are a hodler than a paper wallet is definitely a good option for you. If you are a day trader than it's rather uncomfortable because if you want to access your wallet somewhere else you always have to type in manually your private key which is a pretty long row of characters. To be really safe the best would probably be to print out your paper wallet and store it in a bank safe, because if you store it a home in a cabinet or something you could lose it to a fire or something. Title: Re: What do you think of paper wallets? Post by: FairUser on April 13, 2021, 09:02:02 AM I don't understand why you are reminded of paper wallet, it seems that not many people will remember and know about it. Quote Paper wallets were primarily popular in the early years of bitcoin. In recent years, cryptocurrency users have tended to explore other methods of securing their holdings. KEY TAKEAWAYS Quote A paper wallet is a printed piece of paper that contains keys and QR codes that are used to facilitate cryptocurrency transactions. Because they are removed from the Internet, at one point paper wallets were considered to be more secure than other forms of cryptocurrency storage. Many investors believe that risks associated with losing, misreading, or damaging the paper wallet may outweigh the potential security benefits. Title: Re: What do you think of paper wallets? Post by: manok jepang on April 13, 2021, 10:00:20 AM After I read the article about paper wallets, it looks like this wallet is very good for securing our cryptocurrency assets, a paper wallet is a storage wallet whose keys we control ourselves and the wallet is not connected to the internet. Of course people can't access our wallets, unless the keys we hold are in other people's hands, the point is we shouldn't be careless either,
Title: Re: What do you think of paper wallets? Post by: Ucy on April 13, 2021, 10:19:40 AM It's actually ok to store your keys on paper, but i would advise you to duplicate the paper that contains your keys and store them on multiple safe places. If one is lost or destroyed in a disaster, you can always replace it with other copies .
If you are worried about the papers getting damaged ,you could write your keys on scrap metals & a paper, then bury/hid the metals in different locations for long-term storage and keep the paper for regular usage. If the paper get damaged, you dig up your scrap metal and copy the keys on a new paper. Title: Re: What do you think of paper wallets? Post by: posi on April 13, 2021, 10:43:12 AM The concept of a paper wallet is for long term cryptocurrency holder and it requires good knowledge to create a secure paper wallet but I don't trust most of the site used in generating wallet (I don't know maybe I am too conscious or something). However, bitaddress.org was said to be sade if use on an air gap (offline) computer.
You can use the site if you are planning to create a paper wallet create a watch only wallet through electrum, download from their site (https://electrum.org/#download), verify the wallet signature (https://bitcointalk.org/index.php?topic=5240594.msg54223763#msg54223763). Title: Re: What do you think of paper wallets? Post by: semobo on April 13, 2021, 11:02:40 AM What do you think of paper wallets? Paper wallet can be one of the safest wallet because you are not storing your wallet details digitally but keeping your private keys in a safe storage can be the headache because everytime we need to access a device to get access to our funds so in that case we can be exposed. |