If you wish to purchase Ethereum.
Then you must have a place to store it.
WIthout a digital wallet and an Ethereum paper wallet, it is not possible to store Ethereum anywhere else.
With thousands of transactions and exchanges taking place every day for Ethereum.
There are thousands of digital wallet accounts created to store these Ethereum.
And if you fail to choose a good wallet which provides security features.
Then, I must say your Ethereum is at risk.
This is not just a saying, I’ve seen many people whose digital wallets have been hacked.
They have lost all their valuable Ethereum for choosing a poor Ethereum wallet.
Now, there are two options for you, if you want to store your Ethereum.
It’s either you choose a good genuine secured digital wallet or you choose Ethereum paper wallet.
Through both ways, your Ethereum will be safe.
Ethereum paper wallet is somewhat safer than a digital wallet.
There will be no problems of hacking because the paper is with you always safe and secured physically.
Let me explain you a bit more of Ethereum paper wallet, as it will be helpful for you to understand the concepts of it.
What is Ethereum paper wallet
In order to make and type of exchanges or transactions using Ethereum.
You’ll be requiring two things, and those are.
- A private key.
- A public key.
Only by using these two keys, you will be able to do exchange or make transactions using Ethereum.
When you create a digital wallet.
These keys are present online.
And it becomes easy for a hacker to hack these keys from your wallet.
But, when you create an Ethereum paper wallet.
A software then generates these two keys and prints it on a paper.
So, physically it is with you, safe and secured.
And without these keys, no one can touch your Ethereum.
You can keep and carry your Ethereum paper wallet anywhere.
In your office, home, bank etc,
You will always know that your Ethereum is safe, and it cannot be hacked at any time.
How to create an Ethereum paper wallet
MyEtherWallet is one of the best ways by which you can create your Etheruem paper wallet.
They also provide an option for you to create a digital wallet.
But, it’s up to you to decide.
In order to create an Ethereum paper wallet.
Make sure you do a few things first.
- Visit MyEtherWallet website.
- Check the URL, and make sure it is genuine MyEtherWallet website.
The reason why I am telling you this is because.
Many people have visited fraud website which looks like MyEtherWallet and have lost their Ethereum.
My advice to you is, once you visit MyEtherWallet and check the URL for its originality, bookmark it on your browser.
Create an Ethereum paper wallet using MyEtherWallet
Follow the below steps to create a paper wallet.
- Visit MyEtherWallet website.
- Click on new wallet which is on the left-hand side of the website.
- You will be required to enter your password, make sure it is strong.
- After this, an Ether wallet will be saved on your computer.
- You will be asked to download the keystore file, press download. Once it’s done you have successfully created your Ethereum paper wallet.
- Now, all you’ve got to do is press the print button to print your Ethereum paper wallet.
Always make sure to keep your Ethereum paper wallet safe.
If someone gets your private key, they can easily access your Ethereum.
So, make sure you do not share your private key with anyone.
If you want someone to send you Ethereum, then use the public key.
I hope you liked the post How to Create Ethereum paper wallet,
If you wish to know more about Ethereum, then do let me know.