Paper Wallets typically aren’t used for long-term storage. If you lose a Paper Wallet or it gets destroyed, any coins stored in the wallet are gone forever. Similarly, if someone finds your Paper Wallet, they can take all of your coins. That said, one advantage of using Paper Wallets is that they can’t be hacked. Because Paper Wallets can’t connect to the internet, they act as a form of “cold storage.” This is the term for any offline wallet which can’t connect to the internet (Basically a Voucher) It's a unique new wallet address it generates.
I recall around 2018 I used to just go to the Bitcoin ATM machines. Generate a wallet code which i could then import the address into my wallet. and it would just go into my funds like a voucher or a code in some ways. You can also send the paper wallet to some one else to pay them. They can just import the wallet address. I have old blockchain accounts wallets with old imported address as this was actually common to do in early 2010. also faucets paid out in wallet address's
Getting a Paper Wallet
To get your Bitcoin Paper wallet on the Bitcoin ATM, simply press “Print Paper Wallet” from the machine screen. The option to print a paper wallet will be available on the screen when machine prompts you to scan a wallet address. Now a days i bet it's even easier with QR codes. I've also just noticed apps to manage it all. We could just use vouchers codes and that kills off paper notes we use today just as good if not better then paper monies. Also a good way to get funds into wallet. Guess the issue is how many bitcoin atm machines are there and can that be by passed even from an app or site that just generates a qr code and wallet address to just import. 我们走吧
Generate a Paper Wallet:
Start by using a trusted offline paper wallet generator such as bitaddress.org or bitcoinpaperwallet.com.
Download the website or use it directly from a secure offline computer to ensure there is no risk of keyloggers or malware.
Disconnect from the Internet:
For security purposes, disconnect your computer from the internet. This step is crucial to prevent any potential hacking attempts or malware infections.
Generate the Wallet:
Follow the instructions provided by the paper wallet generator. Typically, you'll have the option to move your cursor randomly to generate entropy for key generation.
Once generated, you will be provided with a public key (Bitcoin address) and a private key (used to access the funds). The private key is what you need to keep secret.
Print or Write Down the Wallet:
Print the generated paper wallet on a printer that is not connected to the internet. Alternatively, you can carefully and accurately copy down the public and private keys by hand.
Ensure you store the printed or written wallet in a safe and secure location, preferably in multiple copies.
Fund the Paper Wallet:
To add funds to your paper wallet, send Bitcoin from your existing wallet or exchange account to the public key/address displayed on the paper wallet.
Double-check the address to ensure accuracy, as any mistakes could result in the loss of your funds.
Safeguard the Paper Wallet:
Keep the paper wallet secure and protected from physical damage, moisture, fire, and theft.
Consider storing copies in different secure locations or using a safe deposit box.
When you decide to spend or transfer the funds from the paper wallet, you'll need to import the private key into a Bitcoin wallet software or online wallet.
Be cautious when importing the private key online, as it may expose it to potential risks. Ideally, use a trusted, offline wallet application for this process.
Remember, paper wallets are offline storage solutions, which can provide an added layer of security. However, it's crucial to follow best practices for creating, securing, and accessing paper wallets to mitigate any potential risks associated with handling private keys.