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Back Up Your Bitcoin Paper Wallet

Posted on September 1st, 2017 by EM Search Consulting

Have you backed up your bitcoin paper wallet? If you are unsure, the answer is likely no. A paper wallet is one that is created offline. When a wallet is offline there is NO digital backup. If you happen to lose your paper wallet you lose your bitcoin. Think of a paper wallet like cash. The only way to create a backup of your paper wallet is to create a digital wallet. RockItCoin, your bitcoin ATM Los Angeles team, has created an easy digital wallet app for you to manage your bitcoin. Get started by downloading here.

Public Vs. Private Key

First, it’s important that you understand the difference between a private and public key. The Top QR code on your paper wallet is your public address and the bottom QR code is your private key. The public address is a unique identifier which allows you to be able to receive bitcoin. Think of your public address like your email address on PayPal or Venmo. A private key is a secret code which gives ownership of the public address and your bitcoins. Every bitcoin address has a matching private key. Keep your private keys safe and do not share with anyone. Anyone who knows your private key can spend your bitcoins! For more information about public and private keys click here.

Your RockItCoin Digital Wallet

Downloading a digital wallet allows you to take control of your funds. With the RockItcoin digital wallet only you have access to your funds or transaction data. You get the financial privacy and autonomy Bitcoin was created for. Your bitcoin ATM Los Angeles team created an app that is simple and easy enough for anyone to use. Below are just a few of the great benefits of the RockItCoin Wallet:

  • Auto encrypted wallet backup to redundant peer-to-peer cloud servers
  • Pay using Bluetooth without needed QR codes
  • Zero-knowledge & zero-access to user funds, keys, or transaction data by RockItCoin or third parties
    Simple account creation
  • One-Touch 2-Factor Authentication for the easiest-to-secure wallet in the world
  • Quickly switch accounts with username drop down
  • Multi-device synchronization
  • Built-in calculator for easy conversions
  • Merchant mode enabling easy and fluid UI behind the counter

To learn more about the great benefits of the RockItCoin wallet click here. Visit one of our local Bitcoin ATM Los Angeles locations today!