Safe and efficient Bitcoin storage is essential in industry 4.0 you cannot ignore Bitcoin paper wallets. In addition, Bitcoin wallets can be selected for storage. Their digital currencies use some encrypted means such as a physical Bitcoin carrying device, a drive or a USB hard drive, a hardware wallet and a paper wallet.
What is a Bitcoin paper wallet?
Bitcoin paper wallets are a piece of paper that contains both the private and public keys of a single Bitcoin address; the cost of paper wallets is very cheap and safe to store Bitcoin, simply because they store private keys away from hackers. With physical protection, paper wallets can become a safe way of preserving Bitcoin in the long run. To pay for coins from paper wallets, one must “scan” the private key into a hot wallet such as mobile or desktop wallets. At the time of scanning, the security benefits of the cold storage process will be lost. In contrast, hardware wallets like Ledger Nano S or Trezor are cold wallets that allow pepper without having to extract the key.
• The public key is a public address that you can show others and receive Bitcoin.
• The private key is the private key that you can use to store Bitcoin at that address. This lock needs to be secret, not for anyone to know.
So should we use the Bitcoin paper wallet?
To determine whether a Bitcoin wallet should be used or not? You need to consider some of its advantages and disadvantages.
• Paper wallets have the advantage that keys are not stored online anywhere, so paper wallets avoid hacker attacks or the risk of hardware failures like software wallets. yourself and make a purchase payment or withdraw money from a Bitcoin ATM.
• The disadvantage of paper wallets is that the ink on the wallet can fade and the paper material is very thin, you need to keep the paper wallet away from water and fire if you do not want to lose the Bitcoin stored in it. When you lose a paper wallet, you will not be able to access and recover the wallet, such as the Trezor hardware wallet or the Ledger Nano S.
When creating and using Bitcoin paper wallet:
• The first important thing to keep in mind is that no one can see your paper wallet. Save as carefully as your ID and prevent theft.
• Secondly when printing paper you should use a good quality printer to print but not connected to the internet.
• The third is that the application you use to scan the QR code must be in good condition, checking for virus protection to prevent someone from being able to remotely access and see what you’ve scanned.
• And finally, the paper material you should press decal to better preserve the wallet.
Which Bitcoin wallet is the best?
The first step in creating a Bitcoin paper wallet is to choose a trusted operator to use the three most popular Bitcoin wallet operators Bitaddress.org, Bitcoinpaperwallet.com and Walletgenerator.net.