Among the different wallets, i.e. the wallet in which the private keys to access our Bitcoins are stored, there are paper wallets.
In fact, there are different ways to store your crypto: hardware wallets, custodian or not, desktop, mobile app and the so-called paper wallets, which are sheets of paper in which all the information of the wallet is printed, i.e. the private and public keys.
How to open a Bitcoin paper wallet
In this guide we’ll see how to create a paper wallet for over 30 different crypto, since most of the tools we find only focus on Bitcoin (BTC) but a user may have different needs.
Before we start we have to make an important premise, namely that we have to take preventive measures to generate our paper wallet otherwise we risk running into some malicious tool.
We must therefore be careful to:
Do not trust the results that our search engine returns because they could be malicious. For example, the first result we get when writing „paper wallet generator“ is a scam, as the MetaMask extension reminds us;
Do not use an online system to generate the paper wallet;
Check if there are the source files of the relevant tools;
Download the source files;
Disconnect the internet when creating the paper wallet;
Operate in a sterile environment, which you can do using a live version of Linux. This is to make sure that there are no viruses and malware lurking in the system, as the system is only virtualised for this purpose;
Do not print with a printer used by others and do not go to a copy shop to print it;
Keep the paper wallet in a place only we have access to.
Considering that there are several Bitcoin Paper Wallets, in this guide we will use a multi crypto version, which supports 39 different cryptos to be precise.
The Paper Wallet Generator
We will use the Paper Wallet Generator platform, whose source files we can easily retrieve from GitHub and we can download the file for Android, Linux or Windows.
To be on the safe side, it’s always better to download the Linux version, as explained above, and it’s always advisable to check the hash of the file we downloaded and make sure it’s identical to the one reported by the developer.
Once we have ascertained that the hash is identical, then we proceed to install the program, which emulates the web version that we also find on the site.
At this point we will need to choose the crypto we need and then click on the „Generate New (crypto name) Account“ button.
In our case we choose Dogecoin (DOGE), but the procedure is the same for all cryptos.
After we click the „Generate New Dogecoin Account“ button, the relevant QR codes of the public and private key will be generated.
You can save the text file with the related text information in a pdf file.
The files will be marked „PaperWallet-Dogecoin“, so another thing to keep in mind is to rename the files and protect them with a password, although the ideal thing would be to delete them permanently from your PC once you have printed the paper wallet.
Printing Paper Wallet
When it comes to printing files, one thing that needs to be done is to free up the printer’s print memory, the so-called „print pool“ after we have printed the paper wallet so that the file does not remain saved in the system.
Once we have printed our paper wallet, it is advisable to store it in a safe place, possibly even laminate it, so as to prevent the paper from fading or deteriorating with humidity over time.
The place where the wallet will be stored should be accessible only to the creator as other people who may have access to it could copy the code or take a photo and move the funds into their own wallet.
Although paper wallets are formidable backup systems, it doesn’t mean that you should give them less attention than traditional ones.
Finally, we remind you that also on EOS and Cardano innovative paper wallet solutions have been presented to store these cryptos.