Setting up a paper wallet

Setting up a paper wallet

Paper wallets are formed by using a program to randomly generate a public and private key. The keys will be unique, and the program that generates them is open source. Those with advanced knowledge of coding can check the backend of the program themselves for randomicity in results. What’s more, we’ll be generating our keys offline. This eradicates the exposure to online threats, and deleting the simple program after use will destroy any trace of them.

Don’t worry if it sounds confusing, it’s not. You’ll need no specific knowledge of coding, or encryption. All you do need is a computer, an internet connection, something to record your keys on.

So, let’s go through the steps.

First go to MyEtherWallet.com.
Next, click on the help tab.
Scroll down and click on option 5:
Now open the link
After that download this zip file into your computer:
Now open the zip file in your computer and click on the index.html file. Before doing that, switch off your internet so that you are offline.
Now create a new password and generate your wallet, be sure that you are putting in a strong password:
Now you will have to download your keystore file which is basically your wallet file. Be sure to keep a back up of this file. After you are done with that click on “I understand. Continue.”
And there you go, your wallet has been generated. What you see here is your private key. DO NOT share this with anyone.
You should now print your wallet by clicking on the “Print” button. This is what you will get. Notice that you can see both your private and public keys here:

And there you go. That is how you create an Ethereum paper wallet.