Edward Flores's Avatar
Edward Flores
published in Blogs
Feb 10, 2021
Bitcoin Paper Wallets: Everything You Need to Know

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 Tickers: BTC.X
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 07, 2021
4 Tricks Hedge Funds Use to Get Ahead

4 Tricks Hedge Funds Use to Get Ahead

If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.
John Jacques's Avatar
John Jacques
published in Blogs
Mar 22, 2018
A.I. Stock Market Predictions: Head & Shoulders

A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I.  Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Jul 10, 2020
3 Stocks to Buy if Coronavirus Second Wave Hits

3 Stocks to Buy if Coronavirus Second Wave Hits

By analyzing market trends from the first wave, you can predict behavior for the second. Technology stocks have performed at historic levels this year, but the market is severely overbought.To compensate for that, look at performance during Q1 and Q2, the height of global Covid shutdowns.
Edward Flores's Avatar
Edward Flores
published in Blogs
Feb 06, 2021
How to Become the Millionaire Next Door

How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations.  As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.
Alla Petriaieva's Avatar
Alla Petriaieva
published in Blogs
Feb 23, 2021
Is Ethereum’s Bomb about to Explode?

Is Ethereum’s Bomb about to Explode?

Ethereum’s software is set for an update in October.Until it is finished, participants in the Ethereum blockchain must determine how to delay the difficulty bomb – code that necessitates a steadily increasing amount of computer power to mine blocks and unlock rewards – that is already in place.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Aug 07, 2018
When Is the Next Recession Coming?

When Is the Next Recession Coming?

However, we also know that economists predicted 22 recessions out of 11 that took place since 1945. Are there real recession signs we should watch for?Indeed, the answer is yes, and here are a few very important ones: The first one is almost obvious and known to everyone – it is the Fed.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 22, 2020
Central banks have been buying $2.4 billion in assets every hour for the past two months

Central banks have been buying $2.4 billion in assets every hour for the past two months

Some $17.8 billion has been poured into  bond markets over the past week, the biggest move in more than three months.Around $3.5 billion has been invested into gold, the second largest on record. 
Rick Pendergraft's Avatar
Rick Pendergraft
published in Blogs
Feb 07, 2021
Mid-January Short Interest Report Shows 8 Stocks with Good Fundamentals and High Short Interest
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 10, 2021
How to Start Trading Penny Stocks

How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 08, 2020
US unemployment rate jumps to 14.7%, the highest in series history

US unemployment rate jumps to 14.7%, the highest in series history

The U.S. economy’s employment fell by -20.5 million in April. The coronavirus crisis led to unemployment rate soaring to 14.7% in the U.S, the highest rate in the Bureau of Labor Statistics-tracked series history that goes back to 1948. However, the figures were better compared to several economists'/analysts' forecasts of 22 million job losses and 16% unemployment rate.  Another unemployment measure that includes those who have stopped looking for work as well as those holding part-time jobs for economic reasons also touched an all-time high of 22.8%.
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