Who uses paper wallets

[newfiebackflip]

Who uses paper wallets? 

Do you solely use them instead of digital wallet or to supplement it?


I have seen a few for free on classified sites in my area and was intrigued by the concept.  What would you say the pro's and con's for them are?

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[aspenmattel]

me as a newbie i use paper wallet...

actually my main account is paper wallet.. no back up from pc...

[paiinfo]

This topic entitled "Trust No One" gives some helpful information about best practices for keeping your wallet (paper or otherwise) secure : https://bitcointalk.org/index.php?topic=33835.0.

[Maestro75]

Paper wallets are ok and are almost every beginner's first point of contact with bitcoin. They are safe too. By the way, they are also free to download. No charges getting one.

[MintDice]

Paper wallets are often used by the most hardcore of security enthusiasts. It's basically just a piece of paper where you write down your private key. You could also have a a hardware wallet and store the recovery seed on a piece of paper for when/if the time comes to use it--same kind of concept in that it's just a piece of paper (offline) that you must keep safe. Just remember in order to spend from a paper wallet you must sweep the address into a normal wallet first-become familiar with that process before dealing with large amounts of coins.

Feel free to check out our blog piece on wallets if you'd like a guide to all the different kinds on the market: http://bit.ly/WalletGuide

Cheers!

[Armstand]

Paper wallets are often used by the most hardcore of security enthusiasts. It's basically just a piece of paper where you write down your private key. You could also have a a hardware wallet and store the recovery seed on a piece of paper for when/if the time comes to use it--same kind of concept in that it's just a piece of paper (offline) that you must keep safe. Just remember in order to spend from a paper wallet you must sweep the address into a normal wallet first-become familiar with that process before dealing with large amounts of coins.

Feel free to check out our blog piece on wallets if you'd like a guide to all the different kinds on the market: http://bit.ly/WalletGuide

Cheers!

Its a hassle if we don't plan to save it for long, I think having trezor will be enough for me, paper Waller are those who have  huge amount of investments.

[onlinedragon]

It's not hard to create a paper wallet since you can find easy to understand explanations how to do it. Just make 2 copies of each paper wallet and store them in 2 different places, it will help you when they are lost due fire or other disasters. The only minus could be that someone with bad intention would find it and clear your wallet.

How to make a paper Bitcoin wallet:
https://www.coindesk.com/information/paper-wallet-tutorial/


Paper Wallet Guide: How to Protect Your Cryptocurrency
https://blockgeeks.com/guides/paper-wallet-guide/

[WhoAmAi]

I think it's a bit of a hassle, but it does not require much money. But I still prefer Hardware waller like Nano S or Trezor because it looks cool. 

[Ciscopro2000]

I think paper wallet is the old school method that people use to take their coins offline.  Although many people still use that method, most people are moving towards hardware wallets for cold storage. 

[rivkavender]

i dont but i think i should start to and just wait a year and come back to it lol

[Anycoin Direct Support]

Hello newfiebackflip,

A paper wallet is in fact just a printed piece of paper with your public address and private key on it. Since you can immediately print this document your information does not need to be stored by any 3rd party making it an easily available cold storage device. When printing the wallet it is best to print it multiple times and store each copy in a secure location. You can find a more detailed guide on the topic here 

To get a quick understanding on how it looks and how to make a paper wallet we suggest you create one on myetherwallet here. Their interface is incredibly easy and you can create your own paper wallet within a few minutes. The best way of learning is trying it out yourself we always say.

However we would like to state that we do not recommend using a paper wallet. They are prone to being stolen, damaged, lost and can only be used once. In our eyes the safest method is to always store your private keys on a hardware wallet.

With kind regards,
The Anycoin Direct team

[Dudeperfect]

Until receiving my Trezor wallet, I used to rely on paper wallets but there is lack of flexibility in using it. I somehow feel uncomfortable after using it single time so I believe paper wallets are good for one time (outgoing) use. It is always a better option than holding the funds on web wallets or exchange but if the amount is high then it is recommended to go with reputed hardware wallets where there is a flexibility along with the security. I use paper wallets even today but the usage frequency is reduced.

[Midcrypto]

Who uses paper wallets? 

Do you solely use them instead of digital wallet or to supplement it?


I have seen a few for free on classified sites in my area and was intrigued by the concept.  What would you say the pro's and con's for them are?

Paper wallets were the best and really only cold storage option before the advent of hardware wallets. Now that there are ample choices of cold storage hardware wallets like ledger, trezor and keepkey; paper wallets are falling by the way side.

Our cryptopedia section goes over the advantages and disadvantages of the different wallet types as well as information on the top choices for each type.

https://midcrypto.com/pages/cryptopedia

Feel free to contact us if you have some specific questions!

[Trofo]

I use paper wallets for my long hodls where possible. My list of biggest pros & cons follows. Don't even think about them if you plan on day trading.

Pros:
-great security, even better than hardware wallet IMHO if used properly
-absolutely free, not relaying on 3rd party software

Cons:
-only usable for long hodls
-after you use it once you lose most of the security paper wallets provide, always sweep entire balance

There is much more that could be written about the topic. Especially about proper way of achieving max security with paper wallet. Ie. use fresh machine without internet access to made it, and format it afterwards But that is not the content for beginners section.

[MintDice]

Cold wallets (paper or hardware) are often for people who want to store larger holdings of cryptocurrencies to keep them offline and off exchanges. They are basically like a savings account for your crypto assets. It requires a bit more effort to access and transact using crypto assets on a cold wallet, but there is much less risk of theft.

Hope this helps 

[gentlemand]

I have seen a few for free on classified sites in my area and was intrigued by the concept. 

What the hell does this mean? People are using paper wallets supplied by other people? That completely destroys the point and they're going to get raped.

The longer I use hardware wallets the less I'm inclined to depend on them. There seem to be an ever increasing number of vulnerabilities and Ledger's superior attitude is getting on my nerves.

I'll probably head back to paper. If you do it right you can sleep soundly.

[Edmatech]

i use paper wallets too...as as newbie...its my starter pack...

[Coyoteerex09]

I have seen a few for free on classified sites in my area and was intrigued by the concept. 

What the hell does this mean? People are using paper wallets supplied by other people? That completely destroys the point and they're going to get raped.

The longer I use hardware wallets the less I'm inclined to depend on them. There seem to be an ever increasing number of vulnerabilities and Ledger's superior attitude is getting on my nerves.

I'll probably head back to paper. If you do it right you can sleep soundly.

Hello, just wanted to ask few question cause I'm a bit confused, why people are more inclined in using hardware wallet?

I find it hard to think, why we still need a hardware wallet when its easy to make a paper one?

[gentlemand]

Hello, just wanted to ask few question cause I'm a bit confused, why people are more inclined in using hardware wallet?

I find it hard to think, why we still need a hardware wallet when its easy to make a paper one?

Convenience. The only safe way to spend from a paper wallet is to empty it completely and never return to it. A hardware wallet allows regular access without exposing the private key to the internet.

[Coyoteerex09]

Hello, just wanted to ask few question cause I'm a bit confused, why people are more inclined in using hardware wallet?

I find it hard to think, why we still need a hardware wallet when its easy to make a paper one?

Convenience. The only safe way to spend from a paper wallet is to empty it completely and never return to it. A hardware wallet allows regular access without exposing the private key to the internet.

Ahh, I see. But as you said there's some vulnerabilities (I've done some researching and some users are also experiencing this) with it? I find it less secure and a bit expensive, if I'm to use this than just keeping a paper wallet.