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.

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