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Sergey Savastiouk's Avatar
published in Blogs
Feb 10, 2021

Bitcoin Paper Wallets: Everything You Need to Know

Bitcoin may be a digital cryptocurrency, but keeping them secure extends into the physical world using a technique called cold storage. The earliest and most popular offline storage method is a paper wallet, which can be used in conjunction with secure hardware wallets for maximum security. You can also transfer coins directly from a paper wallet, an added benefit. Making a completely secure paper wallet requires a bit of technical know-how, but most important is simply the ability to read and follow instructions! You can make your own with an offline computer (or bootable operating system), a printer, and a USD flash drive. Got them? Let’s get started.

1. Choose Your Tool

Several tools exist for making a paper wallet – I am using https://bitcoinpaperwallet.com/ (one of the most popular) in this tutorial. Let’s start by going to the site and downloading the .zip files for your paper wallet to your computer, or downloading here from Github. After you have downloaded the zipped folder, make sure your computer is offline, then extract and run the files.

2. Open BitcoinPaperWallet

Once you are on the BitcoinPaperWallet website, move your mouse around or type random symbols in the box to use the random number generator. Once the counter reaches “0”, you will be redirected to an instructions page. A drop-down menu will allow you to change your wallet’s design, language, or type of cryptocurrency – let’s stick with Bitcoin for now.

Read the instructions carefully, then click the tab for “1. Calibrate”. Follow the instructions on that page to calibrate your printer to print your Bitcoin paper wallet.

3. Print the Front of your Bitcoin Paper Wallet

Next, click the “2. Print Front” tab. This tab gives you the option to discard the previously generated number sequence and use a random phrase or passphrase instead of the generated number. If you are storing a particularly large amount of Bitcoin or want extra security, this option may be more appealing -- we recommend using a passphrase generator like this one. Make sure to write the passphrase down, make at least a couple of copies, and laminate them for protection.

Now, you can click the “Random Generate New Wallet” button. If you receive a warning about not using a Bitcoin Wallet Import Format (WIF) private key, click “OK” to generate a new public address and private key based on your passphrase. You can use your passphrase recover the wallet if you lose the private key.

 

 

What’s the Deal with this “BIP38” Encryption Checkbox?

BIP38 encryption means that your private key cannot be recovered without your password if your paper wallet is stolen or compromised. The downside to this is that if you encrypt your private key with BIP38 and you lose your password, it will be impossible to recover the funds sent to the respective wallet.

We recommend avoiding this step unless you have a strong understanding of the BIP38 encryption and decryption workflow. Instead, just keep your wallet safe and hidden like you would jewels or cash.

Now you can click the “Print Wallet Front” button.

4. Print the Back of your Bitcoin Paper Wallet

After confirming the front printed properly, click the “3. Print Back” tab, reinsert your paper in the printer, and click the “Print Wallet Back” button – please note that the back of the wallet is intentionally bigger than the front.

5. Cut, Fold and Seal your Paper Wallet

Please consult the following video from the creator of Bitcoinpaperwallet.com for the proper way to cut, fold, and seal your paper wallet.

6. Keep your Paper Wallet Safe

Now that you have created your paper wallet, it’s important to keep it safe – after all, this is the physical form of your digital cryptocurrency. Fireproof safes, safe deposit boxes at your bank, and similar secure storage locations are all recommended. It is also good to keep multiple copies of your paper wallet, stored in separate secure locations. For additional security, don’t store digital copies or screenshots of your paper wallets on a USB or computer, and make sure your printer is offline when you print the wallet. Lastly, make sure to laminate your wallets, or store them in a waterproof plastic bag to protect from the elements.

Related Ticker: BTC.X

BTC.X in upward trend: price rose above 50-day moving average on June 23, 2025

BTC.X moved above its 50-day moving average on June 23, 2025 date and that indicates a change from a downward trend to an upward trend. In of 44 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on June 24, 2025. You may want to consider a long position or call options on BTC.X as a result. In of 140 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for BTC.X just turned positive on June 26, 2025. Looking at past instances where BTC.X's MACD turned positive, the stock continued to rise in of 63 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in of 439 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The 10-day moving average for BTC.X crossed bearishly below the 50-day moving average on June 22, 2025. This indicates that the trend has shifted lower and could be considered a sell signal. In of 19 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BTC.X broke above its upper Bollinger Band on June 09, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for BTC.X entered a downward trend on June 29, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Market Cap

The average market capitalization across the group is 2.13T. The market cap for tickers in the group ranges from 2.13T to 2.13T. BTC.X holds the highest valuation in this group at 2.13T. The lowest valued company is BTC.X at 2.13T.

High and low price notable news

The average weekly price growth across all stocks in the group was 7%. For the same group, the average monthly price growth was 4%, and the average quarterly price growth was 16%. BTC.X experienced the highest price growth at 7%, while BTC.X experienced the biggest fall at 7%.

Volume

The average weekly volume growth across all stocks in the group was -100%. For the same stocks of the group, the average monthly volume growth was -100% and the average quarterly volume growth was -100%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating:
P/E Growth Rating:
Price Growth Rating:
SMR Rating:
Profit Risk Rating:
Seasonality Score: (-100 ... +100)
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Paper wallets are extremely useful tools – beyond being one of the most popular and secure cold storage methods, they make it simple to transfer coins between owners.You can access the funds on your paper wallet by “sweeping” (or importing) them to either a live wallet (like Trezor or Exodus) or an exchange service (like Coinbase). Most services allow you to import them directly from your wallet’s private key, but there are two key exceptions.
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