Paper Wallet is a term in the crypto world where the wallet can be used by someone to store Bitcoin or his crypto assets simply but can be stored offline so it tends to be more secure. Paper Wallet can reduce the chances of someone’s Bitcoin being stolen by hackers or tampered with by a computer virus. Paper Wallet is used by printing the public and private keys of the user’s Bitcoin account on paper, which is usually accompanied by a QR Code so that the import process back into the digital wallet can run easily.
Many Bitcoin users who create paper wallets use open source wallet generators, such as BitAddress.org, BitcoinpaperWallet.com, and WalletGenerator.net. Usually it will be advised to users to revoke Internet access when creating a paper wallet and delete browsing history after a paper wallet has been created. It is also recommended for users, before creating a paper wallet to scan the computer for malware.
Because it has a physical form, paper wallets can be stolen if not placed in a safe place, the ink that prints paper wallets can also disappear over time. If printed using paper, it is possible that the paper wallet could be burned or damaged if exposed to water.
Difference between Paper Wallet and Digital Wallet
The thing that distinguishes between a paper wallet and a digital wallet is the form of storage. If the paper wallet prints Bitcoin user information in offline form, then the digital wallet stores all data in online form.
The definition of a digital wallet itself is a software program that stores private and public keys and is Blockchain-based to allow digital currency users to receive and send crypto assets, as well as monitor their balances. If you are a beginner in crypto, then you must have a digital wallet. It can be said that paper wallets are suitable for beginners.