If you have bitcoins, you should store them in a safe place for security. Although bitcoin is a secure digital currency, it is not safe to keep your coins on an exchange platform. Hence you need a paper wallet or digital wallet for keeping cryptocurrency. Moreover, in wallets bitcoins are less exposed to hackers and scammers.
Bitcoin cash paper wallet is referred to as cold storage. The reason is that you can keep your BTCs offline and transfer them when needed. Another safe aspect of the paper wallet is there is internet involvement. Thus these wallets are immune to hackers’ attacks. If you do not know about using a bitcoin paper wallet, you are at the right place. This quick read will give an insight into how to use a bitcoin paper wallet including how users can withdraw and deposit bitcoins in paper wallets.
Use of Bitcoin Paper Wallet
Choosing a secure website to design your digital wallet is also a crucial decision. Recently many online forums and sites are facilitating users by providing digital wallets, one of them is btcofficialwallet.org where you can generate a unique address for your wallet.
You can consider a paper wallet as a money box, you can add or withdraw money from it easily. To transfer bitcoins into the paper wallet, head over to a cold-storage wallet or software, transfer money to the public address written on the paper wallet. You can check the progress of money transactions by fetching the public key on block chain info. The user can also sweep bitcoins from paper wallet to live wallet or to an exchange platform to spend or for currency conversions like coinbase or bitcoin cashout.
Currently, bitcoin paper wallet apps are also available free of cost for both Android and iOS. These applications allow users to generate their distinct bitcoin addresses and primary key. The major hallmarks include private generation of the key, operating offline, QR-scanner for securing keys and transactions, and much more.
Thus to conclude, using paper wallets are the best option to secure bitcoins. Paper wallets are considered to be safer than live wallets, because paper wallets can prevent you from hackers.
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