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Author Topic: A Question About Paper Wallet  (Read 94 times)
volkicookie
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August 15, 2018, 04:05:41 PM
 #1

Hello, can ı use a paper wallet twice ?
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August 16, 2018, 12:05:26 PM
Last edit: August 16, 2018, 12:49:32 PM by biggNY
 #2

Hi there,
it is important that you never use the same wallet (after withdrawing part of your holdings only) again. If you move let's say 30% of your holdings, the rest 70% will be moved to new "change" address and will not stay in your paper wallet. This is true for Bitcoin, not sure about the other cryptos. But just to be on the safe side, always use new paper wallet after moving only portion of your holdings, regardless if it is Bitcoin or altcoins.

Read this post for more info (on Bitcoin)
https://www.reddit.com/r/Bitcoin/comments/1c9xr7/psa_using_paper_wallets_understanding_change/  Very important is the part starting with 2nd picture and below it.

Good luck

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August 16, 2018, 12:23:13 PM
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Hello, can ı use a paper wallet twice ?
When you spending full amount from paper wallet always its reusable forever.
There is only privacy concern when you using same address over and over, but thats it.

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August 16, 2018, 02:29:32 PM
 #4

Hello, can ı use a paper wallet twice ?

Yes you can, but whether you should depends.

As long as you are only receiving coins, there's little wrong with reusing your paper wallet (except for potential privacy concerns as pointed out by Velkro).

Once you import the private key of your paper wallet to spend coins, there's 2 things to be aware of:

1) Depending on what wallet and which configuration you use, the remainder of your balance might get sent to a change address (as mentioned by biggNY)

2) Once you import your private key to an online device (such as an internet connected laptop or smartphone), you lose all benefits of cold storage (ie. your cold storage paper wallet is now only as secure as a regular hot wallet).

For security reasons I personally wouldn't reuse a paper wallet after I have swiped the private key, but that depends on your personal preference and the amount at risk I guess.

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August 17, 2018, 12:07:53 AM
 #5

Hello, can ı use a paper wallet twice ?
yes you can but not adviseable for privacy and security issues
HeRetiK has explained pretty much all related matters concerning paperwallet use  
but if you insist on reusing it, learn how to make and sign transaction offline
by doing so, you can still have the same security sense but losing bit by bit of your privacy

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August 17, 2018, 12:00:58 PM
 #6

 I would like to add the following quote

I like this analogy:

Imagine a massive wall of lockers. Each locker is 1mm by 1mm, and the entire wall of lockers is a square 2 light years on each side. When you choose a private key /*"The hidden key in your paper wallet"*/, you pick one of these lockers at random. When someone sends you bitcoins, there's some magical inbox which puts the bitcoins into your locker without telling the sender anything about the location of your locker.

The lockers don't have locks. If someone knew the location of your locker (ie. your private key), then they could just go take what's in it. Similarly, it's possible to choose a locker at random and find that someone has used it already at some point in the past. But there are just so many lockers that in reality it's never going to happen, even if humanity devotes all of its efforts to searching through all of the lockers.
Based on logic above, you can use the paper twice but imagine the risks from this perspective.

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August 17, 2018, 12:04:17 PM
 #7

Yes, you can use your paper wallet for many times, but, as mentioned by other members on this forum, you are not encouraged to do so because of privacy issue. In my opinion, tt is better to use another paper wallet for storage once your old paper wallet address is exposed.

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August 17, 2018, 12:37:41 PM
 #8

Thank you all. I will use different paper wallet.
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August 17, 2018, 11:57:01 PM
 #9

It's a good decision to use different wallets, afterall creating wallets is free. You may lock this thread if you think you already got your answer.
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August 18, 2018, 06:07:54 AM
 #10

Maybe better to use a new one every-time, it's so easy to get a new one and then you know that you are safe. Better to listen to the seasoned users on this forum, probably have enough experience to back up their advice   Grin
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August 18, 2018, 07:07:15 AM
 #11

Hi there,
it is important that you never use the same wallet (after withdrawing part of your holdings only) again. If you move let's say 30% of your holdings, the rest 70% will be moved to new "change" address and will not stay in your paper wallet. This is true for Bitcoin, not sure about the other cryptos. But just to be on the safe side, always use new paper wallet after moving only portion of your holdings, regardless if it is Bitcoin or altcoins.

Read this post for more info (on Bitcoin)
https://www.reddit.com/r/Bitcoin/comments/1c9xr7/psa_using_paper_wallets_understanding_change/  Very important is the part starting with 2nd picture and below it.

Good luck

Just reading this thread and I found your reply very useful. I am using paper wallet not now going to put my fund in another one.

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August 18, 2018, 07:40:38 AM
 #12

I think the general rule for Paper Wallet usage is NOT to use Paper wallets more than once, because you never know if it was compromised or grabbed by some hacker. The process to create Paper Wallets is so easy, so I cannot understand why you would even want to re-use a Paper wallet after the coins was swept.  Huh

I have a old computer & printer that will never be online again. <worth about $100> and I use that to print Paper wallets for friends and for my own use. <Very easy & cheap>  Roll Eyes

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August 18, 2018, 09:04:27 AM
 #13

Actually when you import it to use money on the paper, than that is not paper wallet anymore. You should not do it with same paper wallet.

volkicookie
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August 18, 2018, 06:01:29 PM
 #14

Thank you all again ı got my answer ı will lock thread. Have good day Cheesy
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