For those of you who want to know where your money is on the go, we have an interesting Solution for you. You can store all your EHT (Ether) on an Ethereum paper wallet, yes, real paper, and you can also store your information on a USB stick. Either way, the information in your wallet is safely tucked away in the real world, whether it's in your wallet, in a savings box, or under a potted plant.
What you want to store is your ETH wallet's private and public keys, which is essential if you want to access your ETH wallet or send and receive ETH. The advantage of this is that hackers cannot get your information because your information is not online. Hackers will have to switch jobs and physically steal your USB or paper wallet.
Paper wallets are often referred to as "cold wallets" and are ideal for those who hold a lot of ETH but don't want to spend the money on investments and just want to hide their ETH somewhere safe. This is also a great solution to limit the amount of ETH you spend on dapps, by storing a lot of ETH you probably won't be spending a lot of ETH on Lambos or Etheremons.
4 steps to make a paper wallet
Step 1 - Understand it's your responsibility
It is your responsibility to keep the paper wallet. Owning a paper wallet is like owning a regular wallet. If you lose your paper wallet or share your private keys with others, in this case you lose all your ETH and no one can help you.
Step 2 - Go to the correct MyEtherWallet website to create
To create a paper wallet, you must visit MyEtherWallet. This is an open source javascript application developed to create and apply a paper wallet. Obviously, there are a lot of scammers out there, so don't just googling the app. Please check that the URL is exactly the same as below.
Step 3 - Bookmark the website and set a password
MyEtherWallet is not a bank, it just shows you the information already stored in the blockchain network of your particular wallet. It can also interact with the ETH blockchain on your behalf without any additional fees, with an easy-to-use interface.
Now, creating a password will be a challenge, and we recommend that you write it down offline before entering it on the website. Another solution is to write in notepad and save on a USB stick. The ideal password should be 15 characters long, preferably with different characters, lowercase letters and special characters. do you understand?
Step 4 - Download and Store
Now, you might be wondering what is a keystore file? Let me tell you, this is actually your wallet! So download it and save it to your USB stick. For safety, we recommend storing on the other device as well, in case you lose one of them. The JSON/UTC file contains all the information about the wallet. The password you create can decrypt the information inside, so be sure to keep it safe.
Now, if you want to know the location of the paper parts in the paper wallet, just click on "Print Paper Wallet" and implement the paper in the paper wallet.
Look how gorgeous your paper wallet is now! But remember not to share your private key with anyone, because it's the equivalent of your bank account password, or even your Netflix account password, and you definitely don't want people accessing any of them. "Your address" is the public key that you can share with everyone because it allows anyone to transfer money to your account.
Use your new ETH paper wallet
First of all, we recommend that you put a little ether in your paper wallet to verify it, either from a friend or from an exchange like ecoinbase or even Cex. To check if the public key is valid, go to MyEtherWallet's "Send Ether & token" tab, select "View", and remember to enter "your address (public key)" not your private key! Once you enter the address, it will show you the ETH in your wallet.
To check if the transfer was successful, just go to MyEtherWallet (the address you have bookmarked), then go to the "Send Ether & token" tab, and select "View". To see how much money is in your wallet, just fill in your address in the blank. If the transaction is successful, you will be able to see the money in your wallet.
To return the money to your friend, just insert the USB stick and select "Keystone/JSON file" and click "Choose wallet file". Search the USB for the JSON or UTC file, select it, and enter your password on the website from step 3.
In the last step, enter your friend's wallet address, enter the amount of ETH you want to return, and click OK. Congratulations on using your ETH paper wallet perfectly!
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