Cryptocurrency can be safely stored offline with paper wallets, which offer a defense against internet theft and hacking.
Even though hardware wallets are becoming more and more popular, paper wallets are still a good choice for loyal users seeking an inexpensive offline solution.
This blog will help you understand what a paper wallet is, along with its benefits and drawbacks, and the important things to think about before utilizing them will also be covered.
What is a Paper Wallet?
A paper wallet is a physical form item or document that has a printed-out private key and a fresh public address. For improved security, it enables its users to hold bitcoin delivered from another wallet.
Paper wallets are called non-custodial cold storage since users control the private keys that may and should be printed out offline, thereby removing the potential risks of subjecting them to an internet connection’s hackers.
There’s just one way for a malicious actor or attacker to obtain control of your private key and steal your funds, which is by physically getting hold of your piece of paper where the private key is printed.
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