Bitcoin Wallet Doesn’t Have To Be Hard. Read These 5 Tips

The Lowdown On Bitcoin Wallets

The blockchain technology used for the Bitcoin network is very secure. But some Bitcoin wallets are not so secure. You need a wallet to store your Bitcoins in and to make transactions.

There is no need for you to confine yourself to one type of wallet. In fact, we strongly recommend that you have more than one.

If a thief or a hacker accesses your Bitcoin wallet then they can transfer all of your currency into their accounts. And remember that blockchain creates immutable records that you can’t change so there is no chance of you getting your Bitcoins back if this happens. So let’s take a look at the different types of wallets.

Online Wallets

If you use a cryptocurrency exchange to buy and sell Bitcoins as most people do they will provide you with an online wallet to store your Bitcoins in. These are very convenient as all you need to do is connect to the Internet and you can use your online wallet to perform transactions.

A mobile wallet is an online wallet for mobile devices. Online wallets are “hot wallets” which means you can call them into action immediately for your Bitcoin transactions. You can access your online wallet with an Internet connection from anywhere in the world. The problem is so can thieves and hackers.

The other issue with online wallets provided by cryptocurrency exchanges is that the exchange can block your access to your wallet if you have your account suspended for some reason. If they close your account for good then you will lose everything.

Desktop Wallet

A desktop wallet is a software application that you download to your laptop or desktop. It is a medium-security wallet. If you disconnect your computer from the Internet then there is no way that a hacker can access your desktop wallet. But as soon as you connect again you are somewhat vulnerable.

It is a lot more difficult for a hacker to access your desktop wallet than it is an online wallet. But it is possible. If your computer becomes inoperable and you haven’t made a backup copy of your desktop wallet then you will lose everything.

Paper Wallet

In this scenario, your Bitcoin wallet is a piece of paper with all of your private key information on it. You might think that the idea of using pieces of paper to store your Bitcoin information doesn’t really match up with modern technology but actually it is a very safe way to store your Bitcoins.

There are no recorded cases of cybercriminals hacking pieces of paper and nor are there likely to be. The biggest issue with paper wallets is where to keep the paper so that nobody else can find it. If you have a lot of Bitcoins then consider a safety deposit box.

Hardware Wallet

A hardware wallet is the most expensive option and is usually a USB stick that you can carry around with you wherever you go.

These are the most secure Bitcoin wallets out there and if you are going to be a serious investor then we highly recommend that you get one.

All you need to do is to plug the hardware wallet into your computer when you want to make a Bitcoin transaction.

When you complete the transaction remove the hardware wallet and keep it in a safe place.

bitcoin mining is it worth it?


Is It Worth Getting Involved With Bitcoin Mining?

Bitcoin mining is essential to keep the Bitcoin network going. The miners verify and confirm all of the Bitcoin transactions and without them the whole thing would grind to a halt. There would be no more transactions and no new Bitcoins created.

What is Bitcoin Mining?

Bitcoin miners use very powerful computer equipment to update the Bitcoin decentralized ledger. They need to solve very complex cryptographic challenges and the first to do this will update a block and receive a reward in Bitcoins (at the time of writing this is around 12 Bitcoins).

With Bitcoins being worth thousands of dollars these days this seems like a really good idea. But is it really? You cannot perform Bitcoin mining successfully with a powerful desktop computer. You need to invest a ton of money into very high-end computing power and then pay for the running costs of these computers.

The Process of Bitcoin Mining

Anyone can get involved in Bitcoin mining. There are already thousands of Bitcoin miners that update the Bitcoin blockchain ledger and thousands more want to get involved. With Bitcoin mining, you need to guess a number that will solve an equation that the blockchain generates.

You need to use powerful computers to make these guesses. When you have a lot of computing power you can make many guesses per second which increases your chances of being the first to get it right.
When you guess right the mining software on your computers works out which of the current pending transactions need grouping together in the next block for adding to the blockchain. After this, the entire Bitcoin network validates the transaction.

Bitcoin Mining is difficult

The inventor of Bitcoin and blockchain, Satoshi Nakatomo, created rules for mining where the more mining power in the network the more difficult it is to guess the right random number. As more and more people are becoming Bitcoin miners the difficulty level continues to rise.

The reason behind this increasing difficulty is to create a regular flow of Bitcoins. In reality, this means that it takes around 10 minutes to create a new transaction block on average. The actual times vary considerably. It is all about mining power these days and the more you have the more likely you are to succeed.

Bitcoin Mining Pools

To get involved in Bitcoin mining these days is beyond most individuals. The costs of the equipment required and the running costs are just too much. There is increased competition as well with many miners collaborating together.

One solution to this problem is the Bitcoin mining pool. This is a simple concept where groups of people create a pool and combine their mining power and share the rewards. Even small players can get involved with Bitcoin mining in a pool.

There are a number of large Bitcoin mining pools existing today. They will take a percentage of any success that you have. Usually this is around the 2% mark.

So is Bitcoin Mining worth it?

If you are a newcomer then the answer to this is probably not. There are a lot of factors to consider if you really want to get involved in Bitcoin mining. If you want to go it alone then you will have to invest a ton of money into computers that can make very high numbers of guesses every second.

Then you have to keep these supercomputers running which usually means storage costs (they need proper cooling as they run all of the time) and electricity costs. In truth, you would be better off using the money that you would need to invest to purchase Bitcoins.


One of the challenges facing bitcoin’s adopters around the globe is storage. How exactly are you supposed to keep your bitcoins secure if you plan on keeping a significant amount in one wallet? Well, the answer for most will be a paper wallet. Due to the ingenuity of the cryptographic principles bitcoin was built upon, users only need to keep a public-private key pair in order to access their wallet. Your key pair can even be generated ‘offline’. Bitcoin wallets have become a valuable target for hackers, as the theft is usually untraceable and easy to profit from. To ensure hackers never get ahold of your bitcoin assets, we suggest keeping your surplus bitcoins in a cold-storage paper wallet. This will greatly reduce if even nullify the potential for theft.


A paper wallet is no different than a normal bitcoin wallet aside from the fact that it is not stored on a computer anywhere, and, as its namesake would suggest, it is a bitcoin wallet that you store on a piece of paper. This substantially limits the attack vectors a hacker would need to steal your bitcoin wallet. Because of this added security benefit, a paper wallet is typically used to hold bitcoins in ‘cold storage’, or an amount of bitcoin that you put in a more secure medium than just sitting on your PC.

Probably the easiest option for creating a paper wallet is They offer a straight forward webpage for creating a randomly generated paper wallet consisting of your public bitcoin address and private key. Follow the instructions and your wallet will be ready for use in less than a minute. Of course, don’t forget to add the bitcoins you want to keep in storage on your paper wallet before putting it away.

bitcoin paper wallet
get your bitcoin paper wallet

There are a number of other websites with similar free offerings, but make sure that the software has been vetted and ideally open source or at least from a reputable source. An unscrupulous paper wallet generator would be tantamount for theft.

If you want to step up your security game, the Mycelium Entropy is both an easy option for generating paper wallets and also eliminates the need for a PC altogether. The Entropy works with any printer that allows you to print from a USB stick, and automatically generates your paper wallet and prints it in one step. Unfortunately, it may be difficult to find one as the Entropy was a limited production, but it is still a great solution for further limiting the attack vectors for hackers.

Lastly, another great open-source option for generating paper wallets is Bitcoin Armory. This software is an excellent, feature rich wallet manager, and also supports generating paper wallets with the added security benefit of multi-signature support. This software suite is perfect for your security concerns and covers pretty much all the basis that a bitcoin wallet can offer.

Create Bitcoin Digital Paper Wallet – Password Encrypted (BIP-38)

Anybody can create his own digital paper wallet to store his bitcoins.

The most known and used place is wich is a free and open source javascript algorithm that alows you to create bitcoin addresses.

It has many cool options that you can try for yourself. There is no limit, create as many adresses as you want, it won’t hurt anybody 😉 Be very organised when you manage to send real bitcoins to these addresses however, because lost address is lost forever, with all bitcoins in it.

Getting started with digital paper wallets

Paper wallets are the most easy way to carry Bitcoins in everyday’s life and to store your bitcoins offline. You can create your own on your computer then print it or use it digitally.

  • The public key (left one) is used to receive payements only. You can share it with anybody. No one can steal coins from this address.
  • The Private key (right one) is used to send and withdraw Bitcoins. You should never show it to anybody because he will be able to withdraw your fonds to anywhere he wants (Unless it is password Encrypted as I will show you little further).

Create a digital paper wallet For Bitcoin

A Digital paper wallet is very easy to use. It has no password nor any other kind of encryption, wich means : losing it is like losing your real life wallet. So don’t lose it and don’t share its private key. Share only the public key to receive payemenets.


  1. Go to
  2. Move your mouse over until you generate a 100% randomness. Once you finish, you will see the full menu to generate bitcoin adresses.
  3. If you want a simple bitcoin address, stay at Single Wallet and create new addresses. If you prefer a printable version with some art as shown below, go to Paper Wallet.
  4. Choose the number of addresses you would like to generate and the number of addresses per page then click Generate button.
  5. Click Print button once wallets are generated.
  6. That’s it.  You made it.

Advices :

  • To be full secured you can save page to your computer by right clicking on the page and chosing save as... Then be sur to disconnect internet before creating any new addresses. clean your computer and restart before you connect internet again.
  • Never create adress on a public or infected computer. If you are not sur if your computer got some worms or listeners then you cannot use it to create addresses, because risk of being hacked is too high.
  • The most safe way to create addresses is by using an offline computer running on linux tails or any other version wich don’t store data on hard drive.

Create An Encrypted DIGITAL Paper Wallet FOR BITCOIN

An Encrypted Digital Paper Wallet can be used the same way as a standart wallet. However it has one little exception : You should decrypt it with password associated to be able to send and withdraw bitcoins.

To create your encrypted Digital Paper Wallet, follow these easy steps :

  1. Go to
  2. (If not done yet) Move your mouse over until you generate a 100% randomness. Once you finish, you will see the full menu to generate bitcoin adresses.
  3. Go to Paper Wallet
  4. Check BIP38 Encrypt then choose a strong passphrase
  5. Click Generate button
  6. Click Print
  7. Done.

advices :

  • Even if your Bitcoin address is passphrase protected, it can be hacked if your password is too weak. These kind of passphrases “apple2015″ “happyman” “ILoveYou” “King Kong” just won’t make it if someone got hands on your private key. Nowadays, computers with complete dictionaries will generate random passphrases and try them one by one by one to decrypt hacked wallets. weak passes will be cracked with no doupt. Always combine alphabet with few digits. 10 caracters long, non significant passphrases can not be cracked.
  • If you forget you passphrase You can not decrypt your wallet therefore any bitcoins on it are lost. Always write down (Not on your computer) on a paper your passphrase and keep it in a secured place. You don’t need to write that this is the passphrase to your bitcoin wallet 😉 just encode it somehow on your favorite book for exemple.
  • If you have lot of bitcoins you should think of your family. If something happens to You. How can they access you bitcoin Wallet ?

 Decrypt your Encrypted Digital Paper Wallet

It is very easy to decrypt your bitcoin digital paper wallet Once you have the Passphrase 🙂

Decrypting your Digital Paper Wallet with bitaddress.og :

  1. Go to
  2. (If not done yet) Move your mouse over until you generate a 100% randomness. Once you finish, you will see the full menu to generate bitcoin adresses.
  3. Go to Wallet Details
  4. Enter your Private key then click View Details button. You will see new field appearing.
  5. Enter the passphrase then click Decrypt BIP38 button.
  6. If You entered the exact passphrase then your decrypted private key will appear below, plus you will see it encoded in a number of different formats.
  7. Scroll to Private Key WIF Compressed wich is a representation of your real private key.
  8. Use this key to send Bitcoins. (Keep this key secret)


  • If someone got hands on your Private Key WIF Compressed then he will be able to send and widthdraw your coins even if you still have your digital paper wallet BIP38 password encrypted.