Public Address |
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Private Key (SECRET) |
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The name already contains an explanation - a paper wallet is transferred from a computer to paper in the form of two keys, one of which is private (blockchain address that allows you to receive transfers), and the second is public (allows you to make transactions yourself). Both keys are necessary for full-fledged work with the account, and their loss completely protects the user from personal capital. Once they get to an outsider, the new owner will have full access to the assets.
From other wallets (desktop, mobile, or online), where all information, including codes, is in digital format, paper is quite material. In order not to trust the safety of data to third-party servers, you completely isolate them from the Internet by placing them on a piece of paper, and to operate with virtual currency, integrate them into an online purse.
A Zcash Paper wallet is an offline method of storing your crypto holdings. Simply put, this is a printout of public and private keys on paper, which you must keep in a safe place. The keys are printed as QR codes that you will scan to complete any transaction.
This method is the safest as it gives you full control over the data. No need to worry about the safety of equipment, no hacker or virus can steal money. The only concern is the paper with the codes.
The answer to this question depends on the specific circumstances. If you want to spend a summer day trading in currency, then you will not need such a carrier. But if you are going to save money for a long time, for example, you are going on a long trip, then a paper wallet is a great way to keep your savings safe.
The need for such a purse arises when a rather impressive amount accumulates, which you do not intend to access for a while. That is, it is not intended to participate in trading operations, and it is not planned to transfer it to anyone. Therefore, paper wallets are just right for the long-term storage of cryptocurrencies, and with proper handling, handling is considered the best choice.
To generate an address for a wallet, you do not need to be a programmer, because this is done by specially tailored services. There are a lot of them, and the principle of operation is the same, except for some details. Working with them is simple, and for clarity, consider a few examples. Wallet Generator is a comfortable and easy-to-use website.
To create a paper wallet on it, you have to take the following steps:
Things to remember about data storage: