How To Create A Monero Paper Wallet? Where To Store Monero (XMR)?

There are two main ways to store Monero: either using a local wallet or an online wallet. Local wallets are usually downloaded and installed onto your computer, while online wallets are web-based and hosted on a server. When you want to create a paper wallet for Monero, you will need to use a local wallet so that you can have a piece of software to store your Monero in. The first step is to downloading a local wallet. There are many different wallets available, but we recommend using the official Monero GUI Wallet. Once you have downloaded the wallet, install it and then open it up. Hope you enjoy reading and I tried to make this article not so technical that a layman can’t read it, feel free to comment down below with any questions on how to create a Monero paper wallet, and as always, be sure to subscribe!

Installing Your Monero Wallet On Your PC

When you first open the wallet, you will be asked to create a new account. Give your account a name and a password, and choose one that you always remember as the fate of your Cryptocurrency could be on the line.

The next screen will ask you to choose the type of wallet you would like to create. There are three different types of wallets that you can create: a Standard wallet, an Armory wallet, or a Trezor wallet. For this guide, we will be using a Standard wallet.

How To Create A Monero Paper Wallet? A Simple Napkin With Potential Currency On It

Once you have chosen the type of wallet, move your coins into their via the keys they give you and now you have a Monero Wallet.

How To turn This Into a Monero Paper Wallet From here? Turning Your Crypto Into Keys On A Piece of Paper

The next step is to print out your keys onto a piece of paper. To do this, go to the “Keys” tab and then click on “Print Paper Wallet”.

Final Thoughts On How to Create A Monero Paper Wallet, Use With Caution

A popup window will appear with your public and private keys, as well as your Monero address. Make sure to print this out and store it in a place that you will always remember, but that no one else will find. I made a joke the other day that I am going to get my Grandma $5,000 in a Monero paper wallet for Christmas, I’ll wrap up a Starbucks napkin under the tree with a key on it and say “here’s $5,000 DO NOT LOSE.” I would have to imagine that the response I would get would be one of concern and worry. Any who, you get the point, make sure to store this in a safe place!

Now that you have printed out your keys and stored them safely, you now have a Monero paper wallet! In order to use your coins, you will need to import your private key into a local wallet so that you can spend them. It may be worth it to memorize the keys as well, or even to tattoo them on your body, given the fact that you will completely lose 100% of your Crypto if you forget or lose the key. Have fun making paper wallets!

Sources:

https://www.bankrate.com/banking/cds/cd-rates/

https://money.cnn.com/data/markets/

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