Paper Wallet is a method of storing cryptocurrency by printing the private key of the address where the cryptocurrency is stored on a piece of paper.
It is the safest way to manage cryptocurrencies since it is mainly for long-term storage and is completely cut off from the Internet.
The paper wallet is a cold wallet that is used offline, so it is said to be the safest way to manage security.
However, paper wallets also have the following risks
- Losing the paper
- Forgetting where you stored it
- Someone throws away the paper.
- Lost in a fire
You risk losing your coins permanently, so be careful about where you choose to store them.
Summary. Paper wallets are a great way to avoid hacking risks but be prepared for physical loss.