You may already have heard of bitcoin paper wallets- they're safe, easy to use, secure, and very versatile. You may be wondering, though- how do they work? How can I make one? If you're asking yourself one of these questions about paper wallets or even more, we've got all the answers here.
Bitcoin paper wallets, at their most basic form, are just documents holding the data needed to generate a bitcoin private key. Although many people think they only store bitcoin and are essentially just a wallet in paper form, paper wallets are in truth much more versatile and more helpful than most people make them out to be. The first example is a gift- say you wanted to gift someone bitcoin, or just wanted to sell them bitcoin. This makes paper wallets very valuable if- and only if- the right precautions are taken during their preparation, for there are many viruses and other malicious programs that can read private keys during their creation and steal your bitcoin. Watch out!
To generate bitcoin paper wallets, a number of methods can be employed. The easiest method is to use a website or a HTML download of it, which is more secure. One such site is bitaddress.org, where you can create an address client-sided. Although this is quick, it is not secure, for you are connected to the internet and even the page itself may not be secure. You may want to go to bitcoinpaperwallet.com for more secure wallet creation. Go to the site, then click print a wallet. Then click secure download, and open the ZIP file once you download it from Github. After that, click the HTML file and select your preferred browser. Generate as if you were online, and you should be ready to go! Although these are the basics of bitcoin wallet making, you can also opt to use the more fancy method of buying stickers and holograms on your wallets to ensure further security after generation, which is not necessary but is a great addition and makes the wallet look more official- this can be great if you're gifting the wallet to a friend or something of the sort.
You may want to opt for a plastic bag to hold the wallet if you have an inkjet printer, as printed paper from these is especially susceptible to water and damage. Instead, try to go for laser printers that actually use plastic in their cartridges, which as you can imagine, is much more durable than ink. This can make the difference between losing your money and saving it for years to come.