How to set up a Bitcoin paper wallet
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A Bitcoin paper wallet is a piece of paper that contains the information you need to access your token. Due to their years of existence, they have been declared cheap and secure to use.
Bitcoin paper wallet provides cold storage for token thereby safeguarding them against malware attacks associated with online wallets.
Learn more about Bitcoin paper wallet.
Choose a paper wallet generator
Before you can use a Bitcoin paper wallet, you need to choose the generator to use. This paper wallet generator provides you with the basic details you need to set up your paper wallet.
There are various paper wallet generators online but Bitaddress and wallet generator are considered reputable. Bitcoin.com also offers a paper wallet for BCH.
How to create a Bitcoin paper wallet
Using Bitaddress as a demonstration, this process must be followed to set up a Bitcoin paper wallet.
Step 1: preparation
In order to avoid being scammed, you need to clean up your computer against virus and malware attacks. Make sure the computer is up-to-date and ensure the connected printer does not require internet before it could print. This is so as to avoid stories that touch the heart.
Step 2: get a paper wallet generator
As said earlier, downloading a paper wallet generator is necessary for you to set up a Bitcoin paper wallet. While most paper wallet generator allows you to download online, it is advisable to download the paper wallet generator when you are not connected to the internet.
Sites like bitaddress allow you to download a zip file at the bottom of the page which will, in turn, be deleted after downloads have been made.
This is why you need to save it where it is accessible as soon as you download it. To avoid malware attack, check the credibility of the file before extracting.
Step 3: Get the wallet
Before you get to this stage, make sure you are disconnected from the internet. Click the extracted zip file and open it in the browser with disabled add-ons and extensions.
You need to hover around the space or type random characters in the text box while generating a paper wallet. The random characters you entered will determine the kind of wallet that will be generated.
Once the degree of random characters reaches 100%, a single wallet will be generated automatically.
The single wallet can be printed and used for a quick single address. However, for the purpose of your need, select a paper wallet that has few customizations.
After generating the Bitcoin paper wallet, print it out on an offline printer.
Step 4: Conduct a cleanup
Before you connect to the internet once more, clear cache, delete history and downloaded files, empty recycle bin and re-boot your system.
Step 5: Wallet security
Before you fund the wallet, it is important to secure it. Your Bitcoin paper wallet needs to be secured physically from theft and impurities. Since it is available offline, what you need to take note of is where to keep it as fire, water or impurities will affect the recovery of your token.
Step 6: fund your wallet
Once you are very sure that you are capable of securing your wallet, you can go ahead to fund it. Since you have your private keys on the printed paper wallet, you can transfer, save, withdraw or spend your token as you wish.
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