Before we proceed with this review, it is essential to understand what a paper wallet is, and how it differs from hardware wallets. Simply put, a paper wallet is a document that possesses all of the data that is required to “generate a large number of Bitcoin private keys”, so as to form a “wallet of keys”. While this may be the technical definition of it, but in real life many people use paper wallets to store bitcoins offline in the form of a physical document.
WalletGenerator is a free “Paper Wallet” tool that allows us to store our BTC offline, in a completely safe and secure manner. In order to make use of this service, users are asked to go through a number of security checks, so as to ensure that their funds remain safe and completely free of any third party hackers.
A step by step guide detailing the “paper wallet generation” process has been presented below:
- To start off with, it is recommended that customers download the website from GitHub, and then open the “index.html” file from the privacy of their laptops or PC’s. This is done in order to prevent the leaking of any sensitive data, which can leave our assets prone to external attacks
- Following this step, it is recommended that users unplug their internet while a new wallet is being generated.
How Do I Procure My Own Wallet?
(i) Address Creation:
To start things off, users should choose their desired currency and then click on the “Generate new address” button.
(ii) Physical Printing:
Once a unique address code has been generated for us, we are then required to print out the wallet using the “High Quality Print” setting. It is of utmost importance that users do not store their wallet page as a pdf or a png file, as it may leave the our funds prone to hackers.
(iii) Wallet Folding:
Once we have the piece of paper that contains the wallet code with us, we are required to fold the paper along the lines that are mapped out on the sheet. A step by step folding guide is presented on the website for users to check out.
How Can I Use My New Wallet To Send/Receive Currencies?
In order to make transactions, all users have to do is simply share their public address to send/receive money from individuals from around the globe. Since all of the security measures have been taken during the generation process, we are free to share our public address with as many people as we like, without any risks of theft or robbery.
Other Details To Keep In Mind
In order to ensure the safety of our funds, it is advised that the private key we are in possession of are kept secure at all times. Also, before receiving any large sums of money, it is advisable to conduct a small “test spend” so as to see whether the wallet is running smoothly.
(ii) Free of Cost:
WalletGenerator is free for everyone to use. There are absolutely no charges involved.
How Do I Sign Up?
To make use of Wallet Generator, all users have to do is visit the website, and follow the steps outlined there. For any other queries, users can get in touch with the creators of this platform by sending them an email.