What is a bitcoin paper wallet?

The “paper” in “paper wallet” represents the method of access to your coins. You can think of it as a marriage between a digital and a physical wallet. You can use any bitcoin paper wallet generator online to get started. In some cases, ATMs will also include an option to generate one.

What is the difference between a cryptocurrency wallet and a paper wallet?

A cryptocurrency wallet is a place where you store your public and private keys. A paper wallet is a piece of paper with your keys printed out on it. When you choose to print your keys, they are generally removed from your digital wallet and the network.

What is a paper wallet & how does it work?

The paper wallet is perhaps the least understood of the many Bitcoin storage methods on the market. First introduced and popularized in 2011, paper wallets provide offline (aka “cold”) storage of your coins. Along with the private and public key pair are associated QR codes. In printed form, these make receiving or spending bitcoin more convenient.

Is a paper wallet a cold storage wallet?

The answer is, yes, a paper wallet is a cold storage wallet, which means that your cryptos are stored offline. This makes paper wallets one of the most secure ways to store your Bitcoin since there is no digital footprint for hackers to exploit. An example of paper wallet for Bitcoin (Source: walletgenerator.net)