A paper wallet contains a public and private key pair that can be used to conduct cryptocurrency transactions. It is commonly generated using a key generator program and printed on paper as two strings of characters and two Quick Response (QR) codes. A paper wallet is a non-custodial cold storage wallet, which means you have control over the keys and the wallet is not linked to the internet. While paper wallets were once thought to be one of the best ways to secure large amounts of cryptocurrency, other methods of cold storage have now surpassed them.

A paper wallet in cryptocurrency is a physical document containing a printed version of your public and private keys. It is a form of cold storage, designed to keep your crypto assets secure by being offline and immune to hacking or malware.

The wallet typically includes a QR code for each key, making it easy to scan and use for transactions. To create one, users often rely on tools or websites that generate wallet addresses and keys, which are then printed on paper.

While paper wallets offer strong security, they carry risks such as physical damage, loss, or theft. Proper storage, such as laminating or placing the paper in a safe location, is crucial for safeguarding your crypto assets.