At the left you can see a paper wallet.
A paper wallet is the simplest form of a cold storage. Cold storage can also be in form of a thumb drive, CD, …
The purpose of a cold storage is to have the private key, which is necessary to spend money from the wallet not on a computer. A computer could be hacked, or as we learned from the news, a hard drive could be damaged. The backup is then also a paper wallet.
How to make your own paper wallet?
Watch the short video first:
First we need the software. Get it here.
How to run this wallet generator offline
Download the wallet generator from GitHub as a ZIP file to your computer.
- Turn off your Internet connection. (Power off the modem!)
- Extract the ZIP file and drag the HTML file inside of it onto Safari, Firefox, or Chrome (not Internet Explorer.)
- Print out your wallet(s).
- Reboot your computer and power cycle your printer before going back online.
If you want to get one step further, you can download a Live CD of Ubuntu and make a CD or thumb drive. Then reboot from this media and follow above instructions.
You can print out two at one time, by flipping the page to print the back side. I am very certain, that you need to print a couple of pages, till you find the right settings that back and front side are matching.
When it matches, print a couple of pages, flip the pack and print on the back side too. That way, one sheet will have two paper wallets.
Next you cut each wallet and fold it twice, so that the QR-code is on the diffusion pad and again to get it onto the main area.
You should tape the folded part so, that only a small opening is left, allowing you to open the wallet again. The tape will damage the surface of the paper, and you can so see easily, if the wallet has been already opened once.
The visible part shows the public key and the secret key is inside.
Read my post about MyCelium wallet, how to load the paper wallet and how to spend the BTCs from your paper wallet.
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