Paper wallet for Bitcoin
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A Bitcoin wallet can be described as a pairing of a Bitcoin address and its associated private key. This wallet has been generated for you within your web browser and is displayed above.
To secure this wallet, it is essential to record the Bitcoin address and private key, either by printing or other means. It is crucial to create a backup of the private key and store it securely. This website does not possess knowledge of your private key. If you are acquainted with PGP, you may download this comprehensive HTML page and verify its authenticity by comparing the SHA256 hash of this HTML with the SHA256 hash in the signed version history document linked at the bottom of this site. If you navigate away from the site, refresh it, or click the "Generate New Address" button, a new private key will be created, rendering the previously displayed one irretrievable. Your Bitcoin private key must remain confidential, as sharing it grants access to all associated bitcoins. If you choose to print your wallet, place it in a sealed plastic bag to protect it from water damage, and treat it as you would physical currency.
To add funds to this wallet, instruct others to transfer bitcoins to your Bitcoin address.
To verify your balance, visit websites such as blockchain.info or blockexplorer.com and input your Bitcoin address.
To utilize your bitcoins, go to blockchain.info and sweep the entire balance of your private key into an account on their site. Alternatively, you can download a widely-used bitcoin P2P client, import your private key into the client's wallet, and spend your funds. Note that when importing your single key into a bitcoin P2P client and making transactions, your key will be combined with other private keys in the client's wallet. Following a transaction, your change will be sent to another bitcoin address within the P2P client wallet. It is necessary to back up the P2P client wallet and store it securely, as any remaining bitcoins will be held there. As Satoshi recommended, a wallet should never be deleted.
- Use the Bulk Wallet tab to pre-generate a large number of bitcoin addresses (10,000+). Copy and paste the generated comma separated values (CSV) list to a secure text file on your computer. Backup the file you just created to a secure location.
- Import the bitcoin addresses into a database table on your web server. (Don't put the wallet/private keys on your web server, otherwise you risk hackers stealing your coins. Just the bitcoin addresses as they will be shown to customers.)
- Provide an option on your website's shopping cart for your customer to pay in Bitcoin. When the customer chooses to pay in Bitcoin you will then display one of the addresses from your database to the customer as his "payment address" and save it with his shopping cart order.
- You now need to be notified when the payment arrives. Google "bitcoin payment notification" and subscribe to at least one bitcoin payment notification service. There are various services that will notify you via Web Services, API, SMS, Email, etc. Once you receive this notification, which could be programmatically automated, you can process the customer's order. To manually check if a payment has arrived you can use Block Explorer. Replace THEADDRESSGOESHERE with the bitcoin address you are checking. It could take between 10 minutes to one hour for the transaction to be confirmed.
http://www.blockexplorer.com/address/THEADDRESSGOESHERE
Unconfirmed transactions can be viewed at: http://blockchain.info/
You should see the transaction there within 30 seconds. - Bitcoins will safely pile up on the block chain. Use the original wallet file you generated in step 1 to spend them.
[NOTE: this input box can accept a public key or private key]
[NOTE: this input box can accept a public key or private key]
Bitcoin v0.6+ stores public keys in compressed format. The client now also supports import and export of private keys with importprivkey/dumpprivkey. The format of the exported private key is determined by whether the address was generated in an old or new wallet.
51 characters base58, starts with a '5'
52 characters base58, starts with a 'K' or 'L'
A Bitcoin paper wallet is a physical representation of a digital Bitcoin wallet, consisting of a printed or handwritten document that contains a Bitcoin address and its associated private key. These two components are necessary for receiving and spending bitcoins. A paper wallet allows users to store their private keys offline, providing an additional layer of security against cyber threats.
Pros of a Bitcoin paper wallet:
- Enhanced security: Storing private keys offline protects them from hacking, malware, and other online threats.
- Cold storage: A paper wallet is a form of cold storage, keeping your bitcoins separate from internet-connected devices, further reducing the risk of theft or loss.
- Simple and cost-effective: Creating a paper wallet is relatively easy and requires minimal resources compared to hardware wallets or other storage solutions.
- Inheritance planning: A paper wallet can be easily transferred to others or securely stored as part of an inheritance plan.
Cons of a Bitcoin paper wallet:
- Vulnerable to physical damage: Paper wallets can be easily damaged or destroyed by fire, water, or other environmental factors. It is essential to store them securely and create backup copies.
- Human error: Handwriting errors or misprints could render a paper wallet unusable or compromise its security.
- Limited user experience: Paper wallets do not provide the same level of user-friendliness or convenience as mobile or hardware wallets. Spending bitcoins from a paper wallet requires additional steps and technical know-how.
- Susceptible to theft: If someone gains access to your paper wallet, they can easily steal your bitcoins. It is crucial to store your paper wallet securely and privately.
How to use a Bitcoin paper wallet:
- Generate a wallet: Use a reputable this service to create a Bitcoin address and its corresponding private key. We provide a printable format specifically designed for paper wallets.
- Print or write down the information: Print the generated wallet or write down the Bitcoin address and private key on a piece of paper. Ensure the print quality is high and the text is legible.
- Secure storage: Store the paper wallet in a safe, secure location. Consider using a waterproof and fire-resistant container or storing backup copies in multiple locations.
- Receiving funds: Share the Bitcoin address (not the private key) with others to receive bitcoin payments.
- Spending funds: To spend bitcoins stored on a paper wallet, import or "sweep" the private key into a software or hardware wallet. Once the private key is imported, you can send bitcoins to other addresses or services.
Remember, it is crucial to keep your private key confidential and secure, as anyone with access to it can spend the associated bitcoins.