Bitcoin’s price on bull race. As the price of the currency increases the security risks are also increasing. To handle the hacker’s security experts are working day and night. Some new strategies such as staking are introduced to protect the coins and also trying to improve the old methods too. We have seen a massive improvement in the security of bitcoin and tools to secure bitcoin are now very costly too. In the race of price of bitcoin and price of wallets to secure bitcoin are both in the upward direction. Here we will discuss a method that costs zero investment to secure bitcoins. According to Muzeer (a crypto enthusiast), there are many free options to secure your bitcoin. BTC paper wallet is one of the best options for bitcoin security.
What is BTC Paper Wallet
A paper wallet is one of the oldest ways to keep secure your bitcoins. The paper wallet lay under the category of cold storage but it doesn’t need any hardware device to store cryptocurrency. What you need is a sheet of paper and a virus-free system to generate keys. The paper wallet was famous from 2011 to 2016. After 2016 Hardware wallets were introduced and paid marketing and other tactics were used to promote physical devices to store bitcoin. This act reduced the use of paper wallets but still, a paper wallet is one of the best ways to hold BTC.
According to sources Those bitcoin owners who store bitcoin for the long term are still using paper wallets. claims and reports state that Millions of bitcoins are still in paper wallets. The reason behind using a paper wallet is for a huge amount of BTC is self-trust. You have to create your wallet through a tool. You can generate wallet address keys offline. Owners don’t need to use any 3rd party services even you don’t need to use bitcoins official website or blockchain to generate a wallet. The folks can generate a BTC paper wallet and send your bitcoin to it anonymously. Here I will further explain the wallet generation process.
Generate btc Paper Wallet to Secure Bitcoin
The process of generating a bitcoin paper wallet is an easy task. But keep in mind that you have to be very careful. The keys you are going to generate here are very confidential. Before starting the process you have to go through a complete security check of your computer. If any loophole is found don’t use that computer. I would recommend you create a wallet online with a trusted website. The choice of platform like Bitcoin Evolution is a very important step here. Because a few years back a famous paper wallet generator was found stooling information of users. First, decide you want to create the keys online or offline. If you want to go with an online generator here below-mentioned steps are enough to create a secure bitcoin paper wallet.
Steps to Generate Secure Bitcoin Paper wallet
Before starting the process of generating a bitcoin paper wallet you should uninstall your browser from your computer. Meanwhile, all plugins and loopholes in the browser will automatically remove. Then install the browser again and check if any extensions or settings are still in the cache of the browser. If you have found any extension remove it and restart your browser. Then, check again and then follow the steps below.
- Go to BTC Paper Wallet
- On the top of the page, you will find the “Create wallet now” button click on it.
- A new tab will open and will start buffering it means that the tools are creating a wallet for you.
- Within few seconds you will see a wallet as screenshot mentioned above.
- You have successfully created a wallet, but that not the end.
- Now check the Instruction button to print or save below the QR Code of the wallet.
- Connect the printer and click on the print or save button.
- You have done with it.
- Keep your private keys away from people.
- Use the Public key to send funds to the wallet.
Transfer BTC from Paper Wallet to Online Wallet
Folks found it hard to cash out your bitcoin from a paper wallet, but the process is not that much hard. what you need to do is export BTC from private key to hot wallet. you can use Binance or blockchain.info to transfer coins from cold storage to exchange or the online world. to do this you need to create an account on any exchange. In the dashboard, you will find the import, export option. Go with it and enter the private keys of your paper wallet. Here, you can scan your QR Code if you are using a mobile phone to transfer funds from a paper wallet to an online wallet. You have to go through few transfer verifications and you will see the digital figure in your online exchange.
There are different phases involved in developing an exchange platform like Bitiq. So, before you start developing your cryptocurrency exchange platform, it is important to know its scope, competition, user requirements and so on.