Okcash Cold Storage - New Paperwallets
One of the most popular options for keeping your Okcash safe is something called an OK paper wallet. Here you will learn how to transfer all those digital coins into a physical paper form using just a printer.
What is an OK paper wallet and why do I need one?
An Okcash wallet consists of two ‘keys’. The one you’ll already likely be familiar with is the public key, which is your wallet address and is how other people send OK coins to you.
The other part of your Okcash wallet is the private key. It is this that enables you to send OK to other people.
The combination of the recipient’s public key and your private key is what makes a cryptocurrency transaction possible.
It is important to understand that, if anyone else obtains the private key of your wallet, they can withdraw your funds – this is why it’s absolutely essential that nobody else discovers it.
So, if you keep your coins in either an online wallet, or a hard-drive-based software wallet, you are vulnerable to attacks by hackers or malware that can log your keystrokes.
Furthermore, a stolen PC or a hard-drive crash could also see you waving bye-bye to your digital treasure.
Used with care, a paper wallet can protect you from these possibilities.
What is an OK paper wallet?
A paper wallet is a document that contains copies of the public and private keys that make up a wallet. Often it will have QR codes, so that you can quickly scan them and add the keys into a software wallet to make a transaction.
The benefit of a paper wallet is that the keys are not stored digitally anywhere, and are therefore not subject to cyber-attacks or hardware failures.
The disadvantage of a paper wallet is that paper and ink can degrade, and paper is relatively fragile – it’s definitely worth keeping well away from fire and water for obvious reasons.
Furthermore, if you lose a paper wallet, you’ll never be able to access the OK coins sent to its address.
How to create an Okcash paper wallet
Here are 10 steps needed to create an OK paper wallet:
1.- To generate a new Okcash address, open https://okcashpro.github.io/okcash.paperwallets/ in your browser. 2.- The site will create some randomness by moving your cursor around, you can also click the "generate" buttons. 3.- You will be presented with your public and private keys and their respective QR codes. Do not scan these. 4.- Click the ‘Paper wallet’ tab. 5.- Select the number of addresses to generate. 6.- If you don’t wish to keep the Okcash artwork, click the ‘Hide art?’ button. 7.- Click the ‘Generate’ button to create new wallets. 8.- Once the wallets are generated, click the ‘Print’ button to make a hard copy. 9.- Your browser will ask you to select the printer you wish to use. In the case of Google Chrome, you may also save the page as a PDF file. 10.- Make a note of the public addresses, or scan the public address QR code in your Okcash app and start depositing funds.
- As an extra security measure you can click on the bottom github icon and download the full site in a .zip file to generate your OK paper wallets locally or offline.