May i know on to where this thread created. It's kind of promotion, brainstorming or discussion thread? Paper wallet is mainstream. For anti mainstream, i will suggest to :
1. Write it in stone
2. Write it in woods
3. Stainless steel
4. Write on paper and do laminating.
5. Tattooed it on your most hidden body. Only your spouse, children can knowing it.
Topic: Would you use a paper wallet to store your CryptoCurrencies? - page 3. (Read 528 times)
Hi Crypto Community,
I thought I would ask the question about crypto paper wallets. I've been invested in a project for a couple years called ROI coin. You can look at it here: https://roi-coin.com/.. It is a triple hybrid coin - POS/POW/Term Deposits and has a unique feature that allows you to stake/mint coins earning up to 18% interest a year without a wallet running. I figure that I will term deposit them to my paper wallet and keep them offline with no wallet running on a computer or other device anywhere. Nobody can steal them.
Security is of prime importance to not losing your crypto assets and I am looking for the utmost security. Many exchanges have been hacked and coins stolen I want alternatives. Running multiple desktop wallets is not exciting either. Enter the paper wallet. If you are in control of your private key of your paper wallet you will be fine because they are not hack-able. They are not prone to malware or key-logger attacks either.
The process of creating a paper wallet is to go to a wallet generator which will create a random public and private key. You would then print that out and use accordingly. For security, many generators allow you to download an HTML file to your local computer then generate the address which allows you to do the generation unconnected to the internet. Obviously make sure to store it in a safe place when done. The question is where do you store it, so it does not get stolen or damaged?
In many countries people have limited access to computers or internet so my thinking is paper wallets would be widely adopted however I do not know that is the case. If you were able to generate coins (POS) 24hrs a day and automatically send them to your paper wallet would you do that? Or if you mined coins (POW) would you direct them to your paper wallet. I suppose that if you are mining with a computer you might have a desktop wallet. But in either case nobody can steal the coins if they are in your paper wallet and if the public / private key has not been compromised.
Is there a fear factor of losing the paper wallet or it getting destroyed? I recently came across some companies that create metal credit card style paper wallets such as Ballet Crypto. They use online/offline computers and laser etching across two different countries to manufacturer the card along with a wallet passphrase / app. It's an interesting process. Take a look here: https://www.balletcrypto.com/en/2FKG/ . Do you think that is secure enough?
With so many mobile devices in the world I have several questions regarding the usage of paper wallets or why they are not used more. So, for now we will end this article with a simple question of using a paper wallet. My header image of the paper wallet came from: https://walletgenerator.net/
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