Jan 11, 2019 23:00 UTC
Jan 11, 2019 at 23:00 UTC
How to Create a Paper Wallet for Cardano Cryptocurrency?
Cardano is a project that began in 2015 as an effort to change the way digital currencies were developed.
The overall focus beyond a specific set of innovations is to offer a more sustainable and balanced ecosystem which better accounts for the particular requirements of its users and other systems looking for integration.
Recently, people, concerned about their private keys, were more interested in creating Paper Wallet for Cardano Cryptocurrency.
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Paper Wallets Launch for Cardano Cryptocurrency
By May 2018, Daedalus software was the only wallet to send, receive and store Cardano cryptocurrency (ADA).
It is a multi-platform, secure and hierarchical deterministic wallet, built by the Cardano Enterprise.
Following the test net launch of KEVM as well as Cardano 1.2 release, the team of Cardano declared the launch of Paper Wallets.
Vantuz, a developer, explains –
“The main difference from having it stored in Daedalus is that the paper-wallets are cold, which means the secret keys are not stored on a computer. The paper wallet is a bit more official and secure. When you keep your ADA in Daedalus (meaning – you have your wallet restored and available in Daedalus), then your secret keys to this wallet are stored on the computer. If you have a spending password – then your keys are encrypted, but still stored on the computer. The safer those passwords are – the harder it will be for hackers to get access to actual keys.”
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Cardano Paper Wallet Can Be Generated in 7 Easy Steps
- Launch Daedalus software and click on “create a paper wallet certificate.”
- A dialogue box will show up, on which you will need to click on “Save PDF for printing.”
- Once the PDF is saved, another dialogue box will show up asking you to verify the printed certificate.
- A 27 word recovery phrase is included to the wallet inclusive of automatic printing on the certificate for the first 18 words and the remaining 9 words handwritten by the users. Take a look at the checklist, tick mark all of them and then click “Continue.”
- A screen will show up saying “Complete your certificate.” click on “Continue.”
- Once done, set the password recovery phrase. Set your password and then tick the checklist. After that select “Continue.”
- After this, a screen will show up saying “Paper Wallet Certificate.” Click on the “Finish” to generate your paper wallet.
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The Facilities You Get
That’s all you need to create your paper wallet. The printed wallet will look different which is easy to use.
The paper wallet feature comes with added security, since the printed certificate can’t be cached by the printer or compromised in other ways.
Paper wallets, anytime you feel like, can be restored and brought back online with Daedalus, which has a new support page in “Settings.”
This page includes links to access the FAQ with proper solutions to the general issues. Not just that, it includes the access to a form to send support requests and a link for downloading logs.
Clicking the ‘bug’ icon in the sidebar does not open the form for to submit support requests. Instead, it takes the users to this page.
For Cardano 1.2.0, a new and well-improved version of the wallet API is available for digital currency exchanges and other platforms.
With such enhanced features, Cardano cryptocurrency is consistently making attempts to make the processes simpler and efficient for its users.
Ethereum vs Cardano has been a major talking point these days. Make sure you don’t miss out.
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