How to Make a Paper Ethereum Wallet & Store Your Ether Securely

I'll also show you how to transfer your Ether in and out your newly minted paper wallet. Cryptocurrencies are an exciting emerging market and Ethereum has a ton of potential. But these new currencies come with their fair share of risks.

Once you have created your password, click on the Create New Wallet button. This will open a browser with an offline version of the MyEtherWallet site. Since you are not connected to the internet, this site is only running locally on your computer.

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Another benefit to paper wallets is that you don't have to keep all of your money in one wallet. You can generate several wallets and spread your money out. You can send Ethereum by either entering your private key or by uploading your Keystore File.

There will be one more screen to verify the transaction. Some camera apps automatically detect barcodes and store them, so you have to be extra careful. If you want to have a backup, you can also print a copy to a PDF and store it on an encrypted USB drive. Remember however, the more copies you have floating around, the more potential for theft. Once you have downloaded the file, the “I understand.

How to Create an Ethereum Paper Wallet

You can also save the private key in a Word document and keep it removed from your computer in a USB drive. This is just in case your paper wallet gets lost or destroyed. In addition to printing out a paper wallet, you can also download a JSON file from the website. The JSON file carries all of the information pertaining to your Ether wallet. The information may be downloaded, encrypted, and even unencrypted. However, the password that was created in the beginning of the entire process is needed for decryption.

• I highly recommend using Linux to print paper wallets.
• Once you have confirmed that your transaction was successful, it's time to secure your paper wallets.
• Break the seals on your paper wallet and scan the private key QR code.
• Like what is featured in Ledger Nano, KeepKey also comes with an OLED display.

These wallets make it much easier to spend your money, but they are not as secure as cold storage solutions. If you are going to send ERC20 tokens from your wallet, you need to have a little bit of Ether in the wallet to pay for the transactions. One wallet can hold multiple Ethereum-based cryptocurrencies. Then you will be taken https://www.tokenexus.com/ to a screen with the paper wallet. One of the worst things that can happen with a paper wallet is that you lock it away somewhere safe, only to discover later that there is no money in it. So if you can see that someone has tampered with the wallet beforehand, you can at least try to track down the culprit right away.

Ledger Nano S (a hardware wallet)

You successfully created your own Ethereum paper wallet. MyEtherWallet is the most trusted and recommended site for creating your Ethereum paper wallet. Your paper wallet could be worth a lot of money day, treat it like you would physical gold or a valuable antique.

When you create a wallet on one of these sites, they can see your private keys and will have access to your funds. Hot wallets can be obtained through downloading, whether mobile or personal computers. With that, it also means that you must stay connected to the internet to make transactions. Since every transaction and wallet balance is on the blockchain everything on your paper wallet is publically visible. Sites like Etherscan let you view wallets and transactions on the Ethereum blockchain using just the public key.

This doesn't offer any physical security, but it can make it easier to tell if someone has peeked at your private key. But if you create the wallet with software that is hacked, then the software can potentially transmit your private keys back to a hacker. Also, if you have malware on your computer, it could track your actions and send that information to a hacker too.

Being a great HD wallet, you can store as many private keys as you like. You can also generate a ether paper wallet private key whenever you need to. Like storing a private key, generating one is also unlimited.