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Paper Wallet

All you need to spend your Bitcoin is a private key, which you can even store on a paper wallet. While a paper wallet is offline and therefore less prone to hacks, if the paper gets wet, burnt or destroyed the coins accessed by the private key on the paper could be lost forever.

Related terms

  • Cold Wallet A cold wallet is a crypto wallet that stores your private keys offline, usually on a hardware device, out of reach of most online attacks.
  • Hot Wallet A hot wallet is a crypto wallet whose private keys are kept on an internet-connected device, such as a phone, computer or browser extension.
  • Non-Custodial Wallet A non-custodial wallet is a crypto wallet where you, not a company, hold the private keys and recovery phrase that control your funds.
  • Address A crypto address is a string of letters and numbers, like an account number, that identifies where coins should be sent on a specific blockchain.
  • Phishing Phishing is a scam where criminals pose as a trusted company or person to trick you into giving away passwords, card details or wallet keys.