Author Topic: how to create paper wallet (Read 586115 times)

roboticmhd · « **on:** December 27, 2017, 11:21:51 AM »

Hi, I am new here. I have been in crypto world for a month, but only trading on exchange sites. Now I want to go more technical and I have a lot of questions. Hope there are technical people here who have understanding of how crypto works under the hood.

My first question is: How create a paper wallet manually (not using any website or programs), using a paper and pencil. If during this process I need to use sha256() function to calculate hash of something I can do that using a program or advanced calculator that has such function, that is not problem.

How to create paper wallet manually ? I want to know what is means to have a wallet, minimalistically.

Adelle · « **Reply #1 on:** December 30, 2017, 09:11:05 PM »

An important part of creating a Bitcoin wallet is ensuring the random numbers used to create the wallet are truly random. Physical randomness is better than computer generated pseudo-randomness. The easiest way to generate physical randomness is with dice. To create a Bitcoin private key you only need one six sided die which you roll 99 times. Stopping each time to record the value of the die. When recording the values follow these rules: 1=1, 2=2, 3=3, 4=4, 5=5, 6=0. By doing this you are recording the big random number, your private key, in B6 or base 6 format.
Note that; You would need to flip the coin more times due to not having the available randomness of 6 sides vs 2. Not sure how many, but the process would be the same.

innate · « **Reply #2 on:** February 08, 2018, 07:11:03 AM »

Thanks for giving information, I truly appreciate your knowledge.

Garden · « **Reply #3 on:** April 18, 2018, 08:54:36 AM »

It is basically a cold storage which helps to generate your own key for your wallet to work offline as well. As the name suggest it is a print out on the paper or plastic cover. There are many web sources which generate open paper wallets including bitcoinpaperwallet.org.

Bandys · « **Reply #4 on:** May 27, 2018, 10:32:28 PM »

Paper Wallet is the way to work offline by generating a key of your wallet in order to print it out on a paper or plastic cover. I think cold storage is the best option to secure your wallet as well, as far as I think. What do you think guys?

ToughMiko · « **Reply #5 on:** June 05, 2018, 09:33:51 AM »

But why do you need paper wallet? Use hardware wallet it more comfortable for using.

crypterum · « **Reply #6 on:** June 08, 2018, 11:24:07 AM »

Try cold storage)

emma.lee1890 · « **Reply #7 on:** June 26, 2018, 12:35:42 PM »

Quote from: roboticmhd on December 27, 2017, 11:21:51 AM

Hi, I am new here. I have been in crypto world for a month, but only trading on exchange sites. Now I want to go more technical and I have a lot of questions. Hope there are technical people here who have understanding of how crypto works under the hood.

My first question is: How create a paper wallet manually (not using any website or programs), using a paper and pencil. If during this process I need to use sha256() function to calculate hash of something I can do that using a program or advanced calculator that has such function, that is not problem.

How to create paper wallet manually ? I want to know what is means to have a wallet, minimalistically.

What is printed on the paper wallet are the private and public keys, usually in QR form, with the latter also serving as the address. You could just copy and paste the keys onto a text document and print that out (erasing the copy on the computer afterwards). Or you could use one of the free web services that generate the printable wallet for you. The key generation is usually done in your browser, so they are never transmitted on the internet. To be safe, you should clear your browser after printing. And never store an image of the paper wallet on your computer or phone.

emma.lee1890 · « **Reply #8 on:** June 26, 2018, 12:36:29 PM »

Quote from: ToughMiko on June 05, 2018, 09:33:51 AM

But why do you need paper wallet? Use hardware wallet it more comfortable for using.

paper wallet services have a nifty design that you can cut, fold and seal, making them a lightweight and relatively secure form of storing bitcoin offline. You send your bitcoin to the public address displayed on the wallet, and then store it in a secure place.

emma.lee1890 · « **Reply #9 on:** June 26, 2018, 12:37:08 PM »

Even with paper wallets, you can check your balance at any time using blockchain.info (just type your public key into the search box). And most online wallets allow you to import your paper wallet data. To spend those bitcoin, you will be asked to type in the private key information, or scan the private key QR code (sometimes called the "spend" QR code).

Some good paper wallet generators:

Bitaddress.org and Walletgenerator.net are open-source random address and key generators that uses your browser's JavaScript engine, so no keys are sent over the internet.

emma.lee1890 · « **Reply #10 on:** June 26, 2018, 12:38:48 PM »

Quote from: andrewbenson on June 07, 2018, 11:07:38 AM

Can you tell me how can i convert my MUSDcoins AND monero TO btc...I NEED HELP.....

All exchangers specified in the list provide the service of exchanging Monero to Bitcoin automatically. You can use our instructions in the FAQ section if you have never exchanged electronic money at our site before and you come across any difficulties with the exchange process.
[/color]Keep in mind that change rates Monero Bitcoin can be better when you go to an exchange site from the BestChange.com monitor than when you visit exchangers in a regular way.
[/color]If you cannot find how to exchange the money after you go to the site, contact the exchanger operator (administrator). It is quite possible that no automatic exchange Monero to Bitcoin is available at the moment and your exchange will be processed manually.[/font][/size]

bitbud · « **Reply #11 on:** August 10, 2018, 06:42:55 AM »

Would you also recommend a Ledger Nano S as a Hardware wallet?
Some people swear by it but I'm a little bit skeptical.
Is this really safe? Are there many different types of Ledgers? Which one would you recommend, the Nano S?
Thanks in advance (:

traveller · « **Reply #12 on:** August 10, 2018, 09:23:23 AM »

Thank you for the information! So the Paper wallet seems like the most secure one. But I heard that it pretty complicated to use and is not suitable if you want permament access to the stored bitcoins - is that true? Don't you just have to scan the QR-code inside the wallet? And if you would want another wallet, what additional wallet would make sense? As I am only a beginner I would really appreciate the help, thanks in advance:)

brecalynch · « **Reply #13 on:** August 27, 2018, 09:09:56 AM »

Hi, in my opinion, paper wallet it the best way to keep your bitcoins safe, I would also recommend using encryption for the paper wallet so that I cloud not be readily understandable.

qrcode · « **Reply #14 on:** September 24, 2018, 08:00:55 AM »

I've heard that there's a nice tool to compare available wallets, it's called coinario or sth similar.
Personally, I also would recommend using paper wallets, cause it's the purpose of creating them, to keep cyptocurrencies safe. I suppose there won't be safer place.
bitbud - what kind of crypto are you interested in?

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