One of the first questions Bitcoin investors ask is, “How can I keep my bitcoins safe?” One of the answers to the question is paper wallets.
Paper wallets are a type of wallet that allows people to carry your crypto coins through the numbers written on a piece of paper in their pockets without the need for any system.
Paper Wallet is used as an extremely secure way to keep Bitcoins and other altcoins away from cyber attacks and malware, etc.
A paper wallet is essentially a physical piece of paper that has your private and public keys to access your cryptocurrencies. For example, it’s pretty much the same concept as having a $500 bill. It is a piece of paper that represents a specific quantity. But we can’t use these paper wallets like regular currency.
Paper wallets are one of the best ways to keep your cryptocurrencies safe from being stolen by hackers because they store coins offline, meaning they ensure their access is closed. The only way someone can steal your cryptocurrencies is if that person breaks into your home and physically takes their paper wallet.
A Bitcoin wallet basically consists of keys that consist of 2 different categories, public and private.
1) Once you have a bitcoin paper wallet with a public key, different people can send you bitcoin through this wallet.
2) When you have private key bitcoin paper wallets, they are wallets that belong only to you, are not shared with other people and allow people who have this wallet to send bitcoin to other people’s wallets. The most important situation that people with paper wallets with private keys should pay attention to is that the private key code on this wallet is not shared with others. Because if this key code falls into the hands of others, there will be a risk that the coins in the wallet will be stolen. Paying attention to this situation, the private key should be kept in a safe place and the owner of the wallet should not share it with anyone other than himself.
Why Is a Bitcoin Paper Wallet Needed?
With the widespread use of digital money day by day, its use and the interest of people and making transactions, the popularity of crypto coins is increasing day by day. At the same time that this has been the case, there has also been an increase in malicious activity. Therefore, one of the most reliable methods of storing bitcoinis to create a paper wallet and store digital coins through the key codes on it. Especially thanks to the bitcoin paper wallet, with the help of paper wallets that are not connected to the internet, ie called offline wallets, people with high amounts of bitcoin can store their money in paper wallets in a secure environment instead of keeping their money on exchanges. Investors should opt for bitcoin paper wallets as one of the safest ways to store them, via private keys that do not have internet access.
