There is no reason for you to be intimidated by Bitcoin. It is easy to obtain and easy to use. Cryptoswede is going to teach you how to make a paper Bitcoin wallet in just a few easy steps. Once you have your wallet made you are ready to send and receive Bitcoin. Paper Bitcoin wallets are a good place to begin for those that are new to this digital token.
Creating an Unhackable Bitcoin Wallet
Everyone that invests in Bitcoin has an inherent concern about security. This issue is one of the problems that cryptocurrencies were created to solve. The goal of Bitcoin is to make financial transactions more secure, faster, and less expensive. The wallet you choose has a lot to do with the overall security of your digital tokens.
Wallets that are stored on an Internet-connected device or on a third-party server are subject to hacks. There have been many hacks at cryptocurrency exchanges, and some individuals have lost thousands of dollars worth of Bitcoin when keeping a wallet on a device. There are only a couple of ways to create an unhackable Bitcoin wallet, and the paper wallet is probably the best option.
What is an unhackable Bitcoin wallet? It is simply a manner of storing your Bitcoin that cannot be breached by others. With a paper Bitcoin wallet you are the only one in possession of your private keys. The only way that someone could use the wallet and take your Bitcoin would be for them to have possession of the piece of paper that the keys are printed on.
Follow These Steps to Create a Paper Bitcoin Wallet
You can create a Bitcoin paper wallet in less than five minutes by following some simple steps. There are several websites that provide a paper wallet. Cryptoswede recommends either Bitaddress.org or Walletgenerator.net. These sites will generate the private and public keys you need for your wallet, and they will let you print out the wallet so you can carry it or store it somewhere safe. Here are the simple steps:
- Visit the website of your choice for generating a paper Bitcoin wallet
- Use your device’s keyboard to create a random string of numbers and letters
- Once the keys have been created, click the tab that says PRINT YOUR WALLET or something similar
- Print your wallet
- Clear your computer and printer’s cache
- Store your paper wallet in a safe place
That’s all there is to the process. You now have addresses for sending and receiving Bitcoin.
Taking Care of Your Bitcoin Paper Wallet
Making an unhackable Bitcoin wallet does present its own challenges. The biggest one is keeping the paper on which your wallet keys are printed intact. If that piece of paper is lost or destroyed, so are your Bitcoins.
Some people like to carry their paper wallet in their regular wallet. Bad idea. If you lose your wallet, wash it in the washing machine, or it gets stolen then you are out of luck. You would be better off placing the wallet somewhere that it cannot be damaged or lost. Lock it in a safe at home if you can.
Some people also like to put their paper wallet in a plastic bag so that it is not accidentally damaged by water. The manner in which you safeguard your paper Bitcoin wallet is up to you. What matters is that you use some type of protection.
*** Here at CryptoSwede you will find information on Crypto Mining the different cryptocurrencies as well as the best cryptocurrency exchanges. You can trade or you can set up trading bots instead and then store the crypto on crypto wallets. Later, spend them using crypto debit cards!***