Paper Wallet

A paper wallet refers to an offline storage approach for cryptocurrencies, typically on a physical medium like paper. It includes essential components such as the user’s private key, public key, and wallet address, ensuring secure storage and offline transaction capabilities (when connected to an exchange or blockchain node). Although paper wallets were popular in Bitcoin’s early days, they have diminished in usage and have been largely superseded by more efficient hardware and software wallets. Paper wallets are commonly known as “cold” wallets.