HOW TO CREATE BITOIN PAPER WALLET 2020
This article is for users starting on Bitcoin, very basic
Most of us that are involve into crypto are starting to get questions, calls, messages from friends and family that are starting to hear about Bitcoin once again, the first two questions they usually make are “You still on Bitcoin?” and “Where I can buy Bitcoin?” and to be honest thats fine, most people still see Bitcoin as a way to generate more money but dont understand the pro and con of holding Bitcoin or any other cryptocurrency.
Understanding how to keep your Bitcoin safe should be the first priority but its the moment of the hype, on this short article Ill explain how to generate a Bitcoin Paper Wallet so you wont need to download, install or buy any type of wallet, if you are planing just to buy and hold, Ill create a second tutorial on how to import this wallet into your cellphone or computer.
Things you need:
– Printer (With Ink)
Instead of printint your paper wallet you can safe it as a pdf on a USB key and make multiple copies, also can password protect it by encrypting your USB.
First visit the following website, https://www.bitaddress.org/ , here you will move your mouse around to generate your wallet address
This is the website once you open it
Start moving your mouse around to generate a random address, you will see how the percentage of complete will increase until your address pops up
Once the address is done a screen like this will show up
As you can see there are indications, READ THE INDICATIONS, QR and Address on the left that says SHARE in GREEN,
is your wallet address, you can give this out and use it to deposit Bitcoin into it, in case you want to stay anonymous just share it with people you know or trust, this would be the equal to your “bank account” for Bitcoin.
Now the total opposite is the one that says SECRET, IN RED, this is your private key that you MUST NOT SHARE with anybody
if this private key gets to someone else and you are holding a substancial amount of Bitcoin you dont want to loose they can take it away and there is NO WAY to reverse a Bitcoin transaction, as you can see its very simple to generate and address, for now you can generate an address, buy Bitcoin on your favorite crypto exchange and send it to this address, DONT LEAVE Bitcoin on any exchange if you are going to hold for a long term or even if you are not going to use it at the moment, the reason for this is because once its on the exchange is not your crypto anymore, if it close or gets hack your Bitcoin is lost 99% of the time.
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