Is the Bitcoin paper wallet safe and secure?

All you want to know about the Bitcoin paper wallet

What is a Bitcoin paper wallet?

How it is different from that of other wallets:

Making things clear:

Is this secure?

Advantages of the bitcoin paper wallet:

  1. Prevents the wallet from getting hacked — this is one of the threats most of the online wallets face. Despite the security provided by Blockchain technology, online wallets are at risk of getting hacked. This paper wallet will secure your bitcoin account from being hacked as the private key will be completely under your control. Even it is theft or stolen, there is no reference to the private key address in the paper wallet. It will be present in the recovery seed where you can obtain all your lost information securely.
  2. The cheapest option to buy wallets: Compared to other hardware wallets like the Trezor one or Trezor-t Ethereum wallets, the bitcoin paper wallet is cost-effective and cheap. Yes, other hardware wallets which are also cold wallets may range between 70 USD to 300 USD, which the paper wallets would be more cheap compared to other cold hardware wallets.
  3. Security perspective: paper wallet is one of the highly secure wallets compared to other hardware wallets. Despite its blockchain protection, it is more effective for storing the coins in the address without any restrictions. It cannot be hacked or hijacked like other hardware wallets too and hence it is the best from the security perspective.
  4. User-friendly and cozy — you need not worry about the UI and other software-based interruptions as it is a cold wallet in the first place and it does not need any such electronic preferences as it is printed paper with the details of our wallet alone in the second place. So, it is very user-friendly and cozy. You can carry this wallet like you carry your fiat currency.
  5. Size and compactness — the size and compactness of the cold paper wallet are appreciable as it can be kept inside your wallet like fiat currency. All the paper wallets contain is the QR code and the bitcoin address to do the transactions efficiently.
  6. Easy to create your wallet — If you are aiming to start your paper wallet it is easy to create yours within minutes. This is hard in terms of other types of hardware wallets or even hot wallets. You can generate your keys-both public and private keys (either automatically or manually) and create your paper wallet.

Final words:

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
MathiBharathi Mariselvan

MathiBharathi Mariselvan

139 Followers

Blockchain Entrepreneur and investor. Cryptoprenuer to be precise. Guiding Crypto enthusiasts and CEOs. You know what, Blockchain is a revolution.