Paper Wallet

In Cryptocurrency

December 27, 2022 Story: Divya Sinha

A paper wallet is a type of cryptocurrency wallet that is stored on paper.

It contains keys and a QR code used to facilitate cryptocurrency transactions. This is a way to store and access cryptocurrencies offline.

When someone chooses to print keys, they are removed from digital wallet and the network.

No one can hack a paper wallet without physically obtaining the paper that holds the key.

Paper wallets became very popular between 2011 and 2016, but are now been discouraged due to the many risks involved.

If someone removes them from their digital wallet, they will not be able to access those cryptocurrencies if they lose their paper wallet.

Today paper wallets are widely seen as an insecure option as when printing keys as there is a security vulnerability in the device used for printing.