How To Make A Bitcoin Paper Wallet

DIY Tutorial: How To Create A Bitcoin Paper Wallet

  • Internet access.
  • Paper.
  • Printer with ink.
  • Scissors.
  • A smartphone with a QR code reader.
  • A software Bitcoin wallet with bitcoins in it.
  • USB stick (optional).

How to Add BIP38 encryption option?

What if I don’t include the BIP38 encryption option while making a Bitcoin paper wallet?

How To Use Your Paper Wallet and Load It With Bitcoins.

  • Use the below Bitcoin address QR code to transfer bitcoins onto this address from your software wallet.
  • Once the QR code is scanned, transfer bitcoins to the address.
  • Once bitcoins are transferred to this address and you receive your confirmations, your Bitcoin wallet is loaded. On the right side of the paper wallet, you can see your private keys.
  • In below image, you can see in the center a field called “Bitcoin Amount”. You can write the amount with which you loaded your bitcoins here and keep that info safe somewhere.
  • It is a good idea to have multiple copies of this printed wallet as a backup in case you lose it.

Pros & Cons of Bitcoin Paper Wallets

  1. Can be used as gift cards once you load it up with bitcoins.
  2. Easy to carry around (like a paper currency note).
  3. Bitcoins can be lost only when someone physically steals your paper wallet.
  4. Easy to create.
  5. Easy to store.
  6. Bitcoins can be spent without using your software wallet.
  7. Practically free to setup
  1. Paper has limited durability and life.
  2. If someone steals your paper wallet and it is not BIP38 encrypted, you will lose your bitcoins.
  3. You can accidently expose your printed private key.

How To Get Bitcoins Out Of Your Paper Wallet To Spend?

  • Scan/enter the wallet/bitcoin address from your software wallet to wherever you intend to send/spend your bitcoins.
  • Scan the private key on the right side of the paper wallet using your Bitcoin software wallet.
  • Click Send, and your bitcoins will be transferred to your chosen bitcoin address.

--

--

--

CryptoShrink.io is a free, simple tool where you can create short links, which apart from being free, you can also earn cryptocurrency by sharing shorten URL’s

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Crypto analysis 6–13 — 🐻 (bearish)

trading chart of bitcoin price, still bearish

How to obtain $XP on QuickSwap & MATIC on Polygon Network

Celsius Network Weekly AMA– January 8, 2021

Introducing MERLIN, the DeFi Smart Wallet Powered by

In the Crypto Ecosystem, It’s Still 1968 — But We’re Moving Fast

Buying real estate for cryptocurrency is now more than real!

Notice of converting ERC-20 to BEP-20 by Fyeth.finance

GotYou Creator Gary Hoffman

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
CryptoShrink.io

CryptoShrink.io

CryptoShrink.io is a free, simple tool where you can create short links, which apart from being free, you can also earn cryptocurrency by sharing shorten URL’s

More from Medium

TriCtate Crypto: Are we there yet?

Behind the crypto hype is an ideology of social change

Why cryptocurrencies are so volatile? — Simplest Explanation

Tesla to start bitcoin mining, Strike integrates Lightning in Shopify and Luna Treasury nears 40.000