A paper wallet is a physical representation of a Bitcoin private key and public address. It is called a “paper” wallet because the private key and public address are usually printed on a piece of paper and stored offline, in a safe and secure manner.
A paper wallet provides a secure way to store Bitcoins, as the private key is stored offline and not susceptible to hacking or theft. The private key and public address can be generated using a software wallet and then printed and stored in a secure location, such as a safe deposit box.
When the owner of the paper wallet wants to access their Bitcoins, they can import the private key into a software wallet or use the public address to receive funds.
It is important to note that a paper wallet should be generated and stored securely to prevent theft or loss. If a paper wallet is lost or damaged, the funds associated with the private key may be permanently lost and inaccessible.
