I generally agree with NeuroticFish.
The classical definition of a paper wallet is a single private key and single addresses printed on a piece of paper. While some people still hold to this definition, I generally use the words paper wallet in a much broader sense to refer to any wallet which is stored completely non-digitally. This could be a private key on paper, but it could also be a seed phrase on paper or even on metal. There are many benefits to using a seed phrase over an individual private key, from readability to avoiding address reuse. As long as the wallet isn't also stored digitally (in which case the paper/metal copy is simply a back up), then I would term that a paper wallet.
I don't necessarily agree with the statement that a paper wallet should only have inputs, though. I have a number of wallets which are simply a seed phrase written on paper, and I have spent from a couple of these wallets by importing the seed phrase to an airgapped live OS to sign an unsigned transaction imported from elsewhere. As the wallet never went online, and I use the same device to do this as I use to generate the seed phrases for my paper wallets in the first place, then there is really minimal additional risk to doing this.
In addition to ripping out the connectivity hardware in the airgapped device I use for generating paper wallets, I also like to rip out the hard drive and boot from a live OS (Tails) which will erase all traces of my paper wallet when I power down the machine. An additional bonus of using a seed phrase rather than a private key is you can hand write it and bypass having to use a printer, which is another potential attack surface.
Topic: What is a paper wallet? - page 2. (Read 300 times)
I expect newbies usually (wrongly) think that paper wallet has to have fancy images and can be only on paper.
But the normal simple definition for a paper wallet is: a pair of private key + address one can (and should!) store offline.
Even more, a paper wallet should have only inputs, i.e. no transactions sent out of it. If one sweeps it or imports it into a wallet it should no longer seen as paper wallet since it was online.
Indeed, nowadays, some tend to "widen" the definition of paper to "a HD seed and possibly one or more addresses that will be stored offline". While some may see it a bit far from the initial idea, I find the seed much easier to save this. While the rule of being imported also stands, here some extra problems may arise and it's advised one also write down more "advanced stuff" based on his knowledge, like the derivation path and the software used to generate the seed (since Electrum and Ledger, for example, seeds mean different resulted addresses).
I do like that you advise airgapped system for generating paper wallets. People still don't realize how important it is to be generated safely.
But the normal simple definition for a paper wallet is: a pair of private key + address one can (and should!) store offline.
Even more, a paper wallet should have only inputs, i.e. no transactions sent out of it. If one sweeps it or imports it into a wallet it should no longer seen as paper wallet since it was online.
Indeed, nowadays, some tend to "widen" the definition of paper to "a HD seed and possibly one or more addresses that will be stored offline". While some may see it a bit far from the initial idea, I find the seed much easier to save this. While the rule of being imported also stands, here some extra problems may arise and it's advised one also write down more "advanced stuff" based on his knowledge, like the derivation path and the software used to generate the seed (since Electrum and Ledger, for example, seeds mean different resulted addresses).
I do like that you advise airgapped system for generating paper wallets. People still don't realize how important it is to be generated safely.
This is a self-moderated thread, I would have posted it in development and technical discussion, but because newbies can also learn from this thread, it is the reason I have the OP in beginners and help. Please post carefully, give your own opinion, but do not spam or deteriorate this thread. Any rank can post, but meaningfully.
Before I joined this forum, there are a lot I misunderstood, this forum helped me a lot. There are many I will read on news today that are incorrect, this forum helped me a lot. Thanks to established members on this forum that helped me in bitcoin-use education process.
What did you think a paper wallet is?
I read this topic few hours ago and I replied to it not quite long, but some reputed members also posted there. With the thread's OP, and some other threads I have read before I noticed the old way that is used to generate paper wallet is what they stick to and not advancing anything when paper wallet has advanced beyond.
What is paper wallet
In my opinion, paper wallet are key(s) that you generated in which the backup is written on paper (laminated paper preferably), metallic sheet or something that is safe enough. But recently, the seed phrase that is backup can produce the keys and addresses needed which you can backup instead of the private key(s).
For instance, just like I generated paper wallet in the old way that single key and address will be generated, I can also prefer to use a HD wallet like Electrum or html file of Iancoleman on safe and secure open source airgapped device to generate a paper wallet. Using any of the two device, I can prefer to backup a child private key and its corresponding address, backup both on paper or metallic sheet. That also makes it a paper wallet. But I would not do that, because the seed phrase is easy to backup, 12 words are secure and safe enough, and I can use passphrase along (extended word) if I want. If I backup the seed phrase on paper or metallic sheet, it is still a paper wallet.
I do not like what people are terming as paper wallet, paper wallet is beyond the old way of generating it. HD wallets supports it. So far the generated wallet is deleted on the open source airgapped device after the seed phrase or private key is backup, then it is a paper wallet.
Before I joined this forum, there are a lot I misunderstood, this forum helped me a lot. There are many I will read on news today that are incorrect, this forum helped me a lot. Thanks to established members on this forum that helped me in bitcoin-use education process.
What did you think a paper wallet is?
I read this topic few hours ago and I replied to it not quite long, but some reputed members also posted there. With the thread's OP, and some other threads I have read before I noticed the old way that is used to generate paper wallet is what they stick to and not advancing anything when paper wallet has advanced beyond.
What is paper wallet
In my opinion, paper wallet are key(s) that you generated in which the backup is written on paper (laminated paper preferably), metallic sheet or something that is safe enough. But recently, the seed phrase that is backup can produce the keys and addresses needed which you can backup instead of the private key(s).
For instance, just like I generated paper wallet in the old way that single key and address will be generated, I can also prefer to use a HD wallet like Electrum or html file of Iancoleman on safe and secure open source airgapped device to generate a paper wallet. Using any of the two device, I can prefer to backup a child private key and its corresponding address, backup both on paper or metallic sheet. That also makes it a paper wallet. But I would not do that, because the seed phrase is easy to backup, 12 words are secure and safe enough, and I can use passphrase along (extended word) if I want. If I backup the seed phrase on paper or metallic sheet, it is still a paper wallet.
I do not like what people are terming as paper wallet, paper wallet is beyond the old way of generating it. HD wallets supports it. So far the generated wallet is deleted on the open source airgapped device after the seed phrase or private key is backup, then it is a paper wallet.
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