Bitcoin Paper Wallet- Advantages and Disadvantages

[BTC Future 3946]

Paper wallet is the safest way to secure your Bitcoin. Sadly the best way to secure the paper wallet would be to lock in a bank deposit box. Well now this looks like a the main future usecase for banks. Securing our paper wallets.

[Nakamoto 279]

On 12/13/2019 at 10:09 AM, Goodcoin said:

Bitcoin paper wallet has advantage and its advantage is that it is a safe cold means of storage. But, something can happen to the paper.

You don't have to write it on paper. Or use the metal case to protect the paper.

 

On 12/23/2019 at 12:51 AM, BTC Future said:

Paper wallet is the safest way to secure your Bitcoin. Sadly the best way to secure the paper wallet would be to lock in a bank deposit box. Well now this looks like a the main future usecase for banks. Securing our paper wallets.

I think that is a good idea. But will the bank assure and compensate if something happens?

[Goody28 259]

BTC paper wallet I hear it's not trustworthy if you mistakenly lose it you can eventually lose all your funds and investments I will advise we use other wallets to store our coins

[babaji 1228]

I would seriously advise to avoid paper wallet. The one good thing about cryptocurrencies that no one can deny, whether you like crypto or not is that, it reduces paper use, and stops cutting trees. The second problem with paper wallet, it comes with the same problem as the fiat currency, hence its best to avoid it. 

[khan22 3478]

On 12/10/2019 at 11:12 PM, Hashimi said:

I think It is slower to use when you want to spend bitcoins. Someone can steal you bitcoins just taking a photo of the paper. It is easy to destroy it with flood or fire. Except for these few things are good wallets, especially for long term purposes.

Don,t show your paper wallet to anyone you will get the secure option becasue if someone will ask to you so don,t show to anyone this than your account is so much secure and good and this is good for you.

[Yanadia 1517]

On 12/22/2019 at 1:11 AM, Brushless4500KV said:

Paper wallets are good for beginners who don't want to deal with complexities of another type of wallets. Paper wallets are secure because they are offline but not as safe as cold wallets (like Ledger) because they are pieces of papers which can be damaged easily or even get lost. So, they are the second safest wallets out there. Paper wallets are suitable for those who want to hold their coins for long term but it is not good for traders who want to do daily trading because it makes trading slower than usual. The reason for this is that you should print a new paper wallet for each transaction. Another disadvantage of paper wallets is that you should spend their whole balance in any transaction. You can't spend only a part of it.

Indees i see know how to used it .thank you for explanations. From the disadvantage what you have said if compared to other wallets wallet paper can be a very good choice for me who need a more detailed report about it. As also as a beginner this is very helpful

[Shaza Ahmad 1682]

I think that the paper wallet is one of the safest methods, as it has no digital connection and no hacker can access it, but is the hardware wallet better?

[kadayakito 765]

Thank you for rating. I don't like bitcoin wallets, because keeping valuable coins like bitcoin is not possible with paper wallets is safe. I think paper wallets have more disadvantages than advantages.

[jacker 1095]

I don't use paper wallets, it seems to have a lot of advantages, it looks very good and also quite safe, I prefer hard wallets because I know that more than any wallet, hardware wallets are the safest.

[magd 5231]

I agree with you about the safety and ease of sending and receiving from the cold wallets, but if the application is deleted from the device and we want to restore it, can we do this? I have never used cold wallets, but I am thinking of using them in case they were of a high level of safety and in the event that I can get my money back

[Saboor 511]

I don't see the advantage of bitcoin paper wallet, you can easily lose the paper and if you don't have back up, then it is gone forever, someone can even get access to it

[Upright 2688]

I like this, but whe n having to look on for a downside on the way which the way which this paper wallets functions and how it guarantees more security than some wallets and also of it inefficiency to be connected on the internet is a big advantage

[bentayebsalah 2280]

Bitcoin Paper Wallet is good and does not have many flaws except that if you lose the key this means that you have lost your currencies and for this must be preserved and make copies on that and everything will be fine

[tienda 8776]

Thank you for sharing this information about advantage and disadvantage about Bitcoin paper wallet, is important to know about the advantage and I think about the disadvantage is the same thing for all type of wallet.

[Honny143 13612]

I know paper wallet safe and secure way to store our assets in this wallet and its cheap also to maintain, but I don't use this paper wallet because lf we loss our keys, then we loss our assets so iam fear to use this paper wallet, but its really useful information who don't no this paper wallet.

[Brand1 1336]

The paper wallet is one of the most important and most secure wallets, because this wallet is not connected to the Internet and we can put our money inside it without any fear of theft, but we must keep this wallet in a safe place so that it is not exposed to damage or falling into the wrong hands and we must also create many backup copies of these Portfolio

[jamesvince 2389]

I don't think that paper wallets is safe wallets for crypto market investors therefore I used only different online wallets for storing of my crypto currencies investment portfolio such as blockchain wallets, tron wallets and some good exchanges as well on which I traded short term investment. 

[Thekingcallme 1975]

The paper wallet is really good and from my experience it is safe as well as you can control the transmission fees for currencies and this is a good thing

[George10 9932]

Advantage of using paper wallet is that it is safe from hack attacks unlike other web wallets though it comes with disadvantages too,for example as you said if you lose the printed paper for private keys theris no means of recovering your crypto and it might be a long processe of printing out some papers and requires some knowledge.

[Whited35 15285]

5 hours ago, Thekingcallme said:

The paper wallet is really good and from my experience it is safe as well as you can control the transmission fees for currencies and this is a good thing

It is really interesting to know, how can you control the transmission fees by using paper wallet dear friend ? A site will be involved in creating a paper wallet for you and I do not think it paper wallet is 100% safe for you. 

[BitcryptoHan 2557]

I can not use paper wallet, people use it for storing bitcoin for a long period of time, it was common in 2009 to 2016 and has really been replaced now by hardware wallets which are better way if cold storage. 

[lharost 1526]

Paper wallets can be the most secure way of keeping your funds safe after hardware wallets if you do it the right way, by the right way I mean you should not have only one copy of you paper wallet and you should have multiple copies of it and keep each copy in a safe different place, that way you are lowering the risk of not having access to your wallet if your paper wallet get destroyed, lost or stolen by any chance.

Edited June 9, 2020 by lharost

[Ackireseyer 56]

Tell me which are the most recommended Cryptocurrencies to trade?

[KpymounapeHb 33]

I don't think that to write our private key and mnemonic phrase in a paper is safe. Because If someone will find those paper or if we lost it, It means we lose all our funds. Online wallets are more secure.

[Eleazar42 73]

So far I know about the paper wallet, it is interesting that you have embroidered this topic because I think that many did not know about it as well as I am going to find out more about it and I will try your suggestion.