In this guide, we will learn how to make an Ethereum Paper Wallet in easy steps. You can store your Ethereum in various ways, such as online exchanges, software wallets, or hardware wallets. When you’re new to this, it can be quite confusing.
However, storing your cryptocurrencies on exchanges makes them vulnerable to hacking and theft. To keep your digital assets safe, it’s essential to transfer them from online exchanges to your control. For a simple and secure method to protect your Ether, consider using a paper wallet.
Steps for Making an Ethereum Paper Wallet
Step 1: First of all, Open your web browser and visit (MEW) MyEtherWallet.com.
Step 2: “After you get on the website, the home page will prompt you to ‘make a new wallet’. Simply type in a strong password and choose ‘Create New Wallet’. Additionally, make sure to store this password on a piece of paper in a secure place and make it difficult to guess. Losing this password would result in your funds being unreachable.”
Step 3: “Once you press ‘Create New Wallet,’ a page will show up, asking you to download a ‘Keystore File (UTC/JSON). Be sure to download this file and store it securely.”
Step 4: After downloading the Keystore file, create a backup of this file and save it on a USB drive, then click on ‘I Understand. Continue,’ just like you see in the image above.
Step 5: Once you click this option, you’ll be directed to a screen where it will ask you to save your ‘Private Key. Remember to save your private key and keep it secure.”
Step 6: “Once you’ve kept your private key safe, click on ‘Print Paper Wallet. This will take you to a new page where you can download your ‘Ethereum Paper Wallet. You can save this paper wallet as a PDF and then print it.”
How To Use Ethereum Paper Wallet?
How to Check Your Balance: To check how much money you have in your wallet, you don’t need to sign in. Just visit https://etherscan.io/ and type your public address in the search bar on the top right. You will see your balance in ETH and USD, along with details about your previous transactions.
How to Receive ETH: Getting ETH into your paper wallet is just like any other wallet. Just share your public address or scan your QR code.
How to Send ETH: To send ETH from your wallet, return to MyEtherWallet. You have two ways to access your account: either enter your private key or upload your keystore file. You’ll also need to input your password.
Once you’re confirmed, sending ETH is quite easy. Provide the public address of the wallet you want to send ETH to, enter the amount, click “Generate Transaction,” and you’re finished!
Conclusion
In conclusion, crafting an Ethereum paper wallet provides a highly secure method for safeguarding your cryptocurrency. The process involves obtaining your wallet’s public and private keys from a trustworthy source, essentially like a secret code unique to you.
After obtaining these keys, you carefully print them on a piece of paper, ensuring accuracy and neatness.
This paper, your paper wallet, should be stored in a safe and secure location, such as a locked box or a waterproof container, to protect it from physical harm.
It’s crucial to keep your private key, the most important part of the paper wallet, an absolute secret, hidden from prying eyes.