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What Are the Risks of Paper or Metal Wallets?
What Are the Risks of Paper or Metal Wallets?
1) The storage and care of the paper wallet itself.
The Private Keys are stored on the paper wallet. The paper wallet must be protected from water and fire damage, as well as unauthorized viewing from cameras and protection from theft.
2) Paper and metal wallets typically, do not have a mnemonic backup phrase. If they are lost or damaged there is no way to recover your coins.
To be the most secure with your paper or metal wallet:
a) Never take a screenshot, photo or digital copy of the Private Key.
Never store a copy on your computer or online!
b) Laminate a paper wallet to protect it from water damage.
c) Store your metal or paper wallet in a fire resistant safe to protect it from fire damage and unauthorized access.
Remember, if you lose your paper or metal wallet, you lose your cryptocurrency on that wallet!
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