Paper wallet for BTC used to be the best

[crunck]

Between paper wallet and hardware wallet which one is more superior than the other for Bitcoin? What matters the most to me is keeping your Bitcoin keys offline and which one is best practice for this? Years back paper wallet triumph over everything until hardware wallet came and every advice on the forum now is get a hardware wallet.

Which paper wallet generator still functions today? Also is there any risk using paper wallet apart from keeping the phrase offline?

It's been a long time since I've heard anyone mention paper wallets anymore, maybe it's not as popular as they used to be. But between a paper wallet and a hardware wallet, of course, a hardware wallet will be better and a more perfect choice. I have also used both and hardware wallet is definitely my choice, I really feel very safe using hardware wallet to store my crypto assets.

[Saint-loup]

You are correct that paper wallets can be easily destroyed. Physical wallets made of steel or other durable materials can be a good alternative to paper wallets. These types of wallets, also known as "cold wallets," provide added protection against fire and water damage.

Another alternative is to use a hardware wallet. Although they can be more expensive than paper or steel wallets, but they are generally considered to be the most secure way to store cryptocurrency offline. For under $100 I'd rather go for a hardware wallet than anything else.

No they are not considered to be the most secure way to store cryptocurrency offline, you're wrong. They are considered to have the best convenience/safety ratio, but they are not air gapped, they are not open source, backdoors and unknown vulnerabilities can exist, some loopholes have been discovered in the past. And it's not easy at all to be sure that your hardware wallet is an original one, that hasn't been tampered.

[BitDane]

Here are some of the benefits and drawbacks of hardware wallets and paper wallets:

Hardware Wallets:

Benefits:

• High security as they are stored offline
• User-friendly interface for transactions
• Portable, can be carried around
• Can be protected with a PIN

Drawbacks:

• Can be lost or damaged
• Cost more than paper wallets
• Potentially difficult for beginners

Paper Wallets:

Benefits:

• High security as they are stored offline
• Can't be hacked
• Cost-effective (Loyce just refuted this  ) but if you have the available materials needed then this is cheaper than buying hardware wallet

Drawbacks:

• Not user-friendly
• Can be lost or damaged easily
• Not portable

It was said that hardware wallet is generally considered more secure than paper wallets  I do not know if someone thinks otherwise.


Sources:
https://www.cnbctv18.com/cryptocurrency/crypto-paper-wallets-a-quick-guide-pros-and-cons-14368372.htm
https://www.brokerxplorer.com/article/pros-and-cons-of-bitcoin-paper-wallet-2238
https://go.finimize.com/wp/guides/storing-cryptocurrency-digital-vs-hardware-wallets/
https://techstory.in/the-pros-and-cons-of-hardware-wallets/

[2double0]

Creating a paper wallet offline comes with least risks compared to those that are created online and possibly face malware risks. Storing them is something that matters once they are created because paper can be burnt, torn or turn older and the QR may become inaccessible for the user who generated it. Tbh I don't find it much secure that those steel wallets where you can store your private keys by storing your paper wallets in them or keeping a combination of your phrase in 12-24 word storage rust-free steel device. However, paper wallets were best used with BIP38 password added to them for ultra-security.

https://www.bitaddress.org/
This was the one I used in my early days of crypto, just to learn how to create one.

I've got something noteworthy to read, so I'm sharing it:
https://www.coindesk.com/tech/2021/02/24/bitcoinpaperwallet-back-door-responsible-for-millions-in-missing-funds-research-suggests/

[LoyceMobile]

(they are 1.5 billion according to the World Bank)

There are only 43 million funded Bitcoin addresses. On-chain Bitcoin can't help all of them.

I don't understand what you mean, why the current number of funded addresses is a barrier?

It's impossible for 1.5 billion people to use on-chain Bitcoin. Currently, Bitcoin is having less than 1.5 billion transactions in a decade, and there's no on-chain block capacity for much more.

[Saint-loup]

Here are some of the benefits and drawbacks of hardware wallets and paper wallets:

Hardware Wallets:

~snip
Drawbacks:

• Can be lost or damaged
• Cost more than paper wallets
• Potentially difficult for beginners

Paper Wallets:

~snip
Drawbacks:

• Not user-friendly
• Can be lost or damaged easily
• Not portable

You say "Can be lost or damaged" for the hardware wallets while you say "Can be lost or damaged easily" for the paper wallets like paper wallets were more fragile than HW. I think you should try to drop your HW into your bath or your freezer, to throw it against a wall or to apply an electric cable on it and then you should try to do the same thing with a paper wallet... Paper wallets are even resistant to radioactivity fyi.
Actually when you use a HW you need to back up your seed onto a paper, because of its weakness.

It's impossible for 1.5 billion people to use on-chain Bitcoin. Currently, Bitcoin is having less than 1.5 billion transactions in a decade, and there's no on-chain block capacity for much more.

I understand what you mean, but the story of Bitcoin is only at its beginning, I hope so anyway.

[Stalker22]

Hardware wallets are gaining popularity but they may not be suitable for everyone. They can be costly and may come with features that are not needed, particularly if you only plan to store a few types of cryptocurrency. An alternative is a paper wallet, which can be a great option for backup, offline storage and long-term storage.