What is Paper Wallet?

A paper wallet is a type of cryptocurrency wallet that is stored on paper. The goal of these wallets is to reduce private key exposure to a minimum. This is a type of “cold storage,” where private keys are not exposed to any internet-connected device that could be hacked or attacked. Today, paper wallets are largely seen as an unsafe option to store your crypto, since to generate such a wallet, they would have to use a central website and GUI—which are just as insecure and prone to attacks as any other centralized service.