With all the controversy and possible regulations on our cryptocurrencies we need to look at the ways of protecting our digital assets. One of the best and most secure ways to do so is to transfer our coins on to paper.
Paper wallet is copy of your public and private key for your coins. They are completely offline so they are safe from hacks.
How to make a paper wallet?
- Go to your browser and enter https://www.bitaddress.org/
- You'll have to move your mouse all over the screen for some time until randomness will show 100%
- Find a button "Paper Wallet" ...click that button
- On the field " Addresses to Generate" enter the number of wallets you want to generate.
but in the beginning do the test with 1 wallet. - Now click on " Generate" and you're adone
- Print your new Paper Wallet and store it at a safe place
Please be smart on where and how you store your cryptos. Definitely avoid storing all of your assets on exchanges and spread them in to multiple wallets.
Hope this helps.
Let me know what you guys think of Paper Wallets.
I like the concept of paper wallets but generating addresses online does not feel safe. So I would use Virtual Machines without Network and offline versions of this website to generate a keypair.
This means that for the average user, paper wallets may not be the most secure in the manner you described while doing it right is too technical.
Some wallets do support creating paper wallets. That should be safe.
agreed. but i still think its one of the best ways next to Hardware wallet to store your coins...
keeping them all on exchanges is pure stupidity and there are plenty people that still do it.
No way to avoid an exchange if you want to keep an order open in the market.
if you like to trade then yes...if longterm and have no desire to trade then exchange is not a safe wallet.
i do this since last year. 80-90% of my cryptos are in hardware and paper wallets. 10-20% on exchanges, just to play. if you got in in the last few months in to crypto then definitely keep some on exchanges to make proffit. but never store everything...never
polo is crashing everytime shit hits the fan , bittrex starting to have more volume and coinbase im sure you know..lol
I have seen my fair share of exchanges going bust, indeed.