About BIP38 password-encrypted paper wallets The advantage to encrypting your paper wallet's private key with a password is that if your paper wallet is stolen or otherwise exposed, the balance on the wallet is safe unless the passphrase used to encrypt the wallet is guessed.However, if you encrypt your private key with BIP38 and you lose your passphrase, it will be impossible for you to recover the funds you have sent to this wallet.Also, note that not many bitcoin wallet applications or web services are able to import BIP38 private keys.In this case, you will have to use the "Validate" feature on the generator to extract the unencrypted Wallet Import Format (WIF) key as an intermediate step before sweeping the balance.WARNING: Before sending any funds to a BIP38-encrypted wallet, first do a test make sure you are able to decrypt the printed private key back to ordinary WIF format.In short, if you do not have a strong understanding of the BIP38 encryption and decryption workflow, do not BIP38-encrypt your paper wallet.

Just print your paper wallet out without encryption, and keep it safe the same way you would jewels or cash.How do I convert a non-encrypted wallet to use BIP38?If you have a regular paper wallet that displays the unencrypted WIF key, you can duplicate it and print out a new BIP38-protected version of the same wallet in just a few steps: Launch the generator, preferably using your own copy downloaded from GitHub.peter taylor bitcoinYou may skip the random mouse movement step since you are not generating any new keys.bitcoin canada faucetClick on the Validate tab, and either type in your private key, or scan its QR code.bitcoin xbte(Firefox works best for camera scanning.)best litecoin pool 2014

Click the validate button.Click Use these details to print a paper wallet Click the checkbox for BIP38 Encrypt?, supply your passphrase, and click Turn on BIP38 encryption.Print the front side of your wallet, flip the page over, print the backside of your wallet, and you're done!Important: Don't discard your old unencrypted paper wallet until you've used the Verify tab to successfully decrypt your new BIP38 encrypted wallet.score bitcoin bowlA BIP38 private key always begins with '6P' An unencrypted bitcoin wallet import format (WIF) key always begins with '5' Frequently Asked Questions What kind of printer and paper should I use?bitcoin mining usb rigHow do I add bitcoins to a paper wallet?How do I withdraw/spend them?How does BIP38 wallet encryption work, and should I use it?What is the Ubuntu LiveCD for?How does it work?

How do I scan QR codes with my camera?One of the most popular options for keeping your bitcoins safe is something called a paper wallet.Here we explain how to transfer all those digital coins into a physical paper form using just a printer.Note that in this guide we’ll be talking about bitcoin.However, the basic concepts apply to any other cryptocurrency; for example, litecoin.A bitcoin wallet consists of two ‘keys’.The one you’ll already likely be familiar with is the public key, which is your wallet address and is how other people send bitcoins to you.The other part of your bitcoin wallet is the private key.It is this that enables you to send bitcoins to other people.The combination of the recipient’s public key and your private key is what makes a cryptocurrency transaction possible.It is important to understand that, if anyone else obtains the private key of your wallet, they can withdraw your funds – this is why it’s absolutely essential that nobody else discovers it.

So, if you keep your coins in either an online wallet, or a hard-drive-based software wallet, you are vulnerable to attacks by hackers or malware that can log your keystrokes.Furthermore, a stolen PC or a hard-drive crash could also see you waving bye-bye to your digital treasure.Used with care, a paper wallet can protect you from these possibilities.A paper wallet is a document that contains copies of the public and private keys that make up a wallet.Often it will have QR codes, so that you can quickly scan them and add the keys into a software wallet to make a transaction.The benefit of a paper wallet is that the keys are not stored digitally anywhere, and are therefore not subject to cyber-attacks or hardware failures.The disadvantage of a paper wallet is that paper and ink can degrade, and paper is relatively fragile – it’s definitely worth keeping well away from fire and water for obvious reasons.Furthermore, if you lose a paper wallet, you’ll never be able to access the bitcoins sent to its address.

Here are 10 steps needed to create a paper wallet: For users of the Blockchain.info website, there is also a basic paper wallet option too.Click on the ‘Import/Export’ option, and look for the ‘Paper wallet’ link on the left-hand menu.This website offers a tamper-resistant design of paper wallet.It is also possible to order holographic labels to demonstrate that the wallet hasn’t been tampered with.It also supplies a live-boot Ubuntu CD with paper-wallet software pre-installed.Given the implications and risks of storing large amounts of money, you may want to take serious precautions for how to go about creating your paper wallet and storing it afterwards.Tips for keeping your paper wallet safe If you want to create a paper wallet for a lesser-used currency that doesn’t have an address generator website, there is still a way to achieve this.What every alt-currency does have is a variation of the Bitcoin-Qt wallet application.The console will then display the private key of that wallet.