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myarbrough@oreilly.com 2014-11-05 09:07:10 -08:00
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@ -975,14 +975,11 @@ users are likely to look at the vanity pattern word _and a few characters beyond
Paper wallets are bitcoin private keys printed on paper. Often the paper wallet also includes the corresponding bitcoin address for convenience, but this is not necessary because it can be derived from the private key. Paper wallets are a very effective way to create backups or offline bitcoin storage, also known as "cold storage." As a backup mechanism, a paper wallet can provide security against the loss of key due to a computer mishap such as a hard drive failure, theft, or accidental deletion. As a "cold storage" mechanism, if the paper wallet keys are generated offline and never stored on a computer system, they are much more secure against hackers, key-loggers, and other online computer threats.
Paper wallets come in many shapes, sizes, and designs, but at a very basic level are just a key and an address printed on paper. <<table_4-14>> shows the simplest form of a paper wallet.
Paper wallets come in many shapes, sizes, and designs, but at a very basic level are just a key and an address printed on paper. The following list shows the simplest form of a paper wallet—a printout of the bitcoin address and private key.
Public Address:: 1424C2F4bC9JidNjjTUZCbUxv6Sa1Mt62x
Private Key (WIF):: 5J3mBbAH58CpQ3Y5RNJpUKPE62SQ5tfcvU2JpbnkeyhfsYB1Jcn
[[table_4-14]]
.A very simple paper wallet—a printout of the bitcoin address and private key
|=======
| Public Address | 1424C2F4bC9JidNjjTUZCbUxv6Sa1Mt62x
| Private Key (WIF) | 5J3mBbAH58CpQ3Y5RNJpUKPE62SQ5tfcvU2JpbnkeyhfsYB1Jcn
|=======
Paper wallets can be generated easily using a tool such as the client-side JavaScript generator at bitaddress.org. This page contains all the code necessary to generate keys and paper wallets, even while completely disconnected from the Internet. To use it, save the HTML page on your local drive or on an external USB flash drive. Disconnect from the Internet and open the file in a browser. Even better, boot your computer using a pristine operating system, such as a CD-ROM bootable Linux OS. Any keys generated with this tool while offline can be printed on a local printer over a USB cable (not wirelessly), thereby creating paper wallets whose keys exist only on the paper and have never been stored on any online system. Put these paper wallets in a fireproof safe and "send" bitcoin to their bitcoin address, to implement a simple yet highly effective "cold storage" solution. <<paper_wallet_simple>> shows a paper wallet generated from the bitaddress.org site.