There are dozens of decentralized wallet apps available over the internet that let you store Bitcoins. All these digital wallets claim to provide top-notch security to Bitcoin transactions and the stored BTC amount which they actually do. But being a digital entity, you just can’t deny the possibility of a cyber attack no matter how trivial it is. Alas, there have been plenty of malicious activities and hacking attempts in the past that it raised some serious security concern regarding the storage of BTC.
There’s no denying that the digital entities are more prone to cyber attacks. So there’s always some risk involved when it comes to storing your valuable assets in a digital entity. But there has to be another way to store your Bitcoins safely instead of storing these on Bitcoin wallets. Actually, there is!
Also read How To Protect Your Bitcoin Wallet.
Introducing Paper Wallet
Paper Wallet. You might have come across this term several times but you don’t exactly know what that is. Perhaps, this blog might help you with that.
In a nutshell, a paper wallet is physical and offline way of storing Bitcoins. By creating a paper wallet, what you’re doing is, “printing your private keys and bitcoin addresses on a paper.” Seeing it this way, a paper wallet is a document containing copies of your public and private keys which makes up your physical wallet called paper wallet. All these paper wallets also contain printed QR codes. You can scan this QR code to feed the keys into a virtual wallet to make transactions on the go.
