Creating a Ripple paper wallet – the cheap alternative to a wallet
Creating a Ripple Paper Wallet – the task is very simple if you spend a little time on it. Let’s take a closer look at what you need to keep in mind when creating a Ripple paper wallet. First of all, let’s clarify what a Ripple paper wallet actually is.
Ideally, we have a document containing data in a paper wallet. This data is necessary to generate one or more public keys as well as a private key. Now, in our example, Ripple tokens can be received and saved to this paper wallet.
Of course, the tokens are not transferred to an actual sheet of paper. They are stored in the blockchain of the cryptocurrency as a transaction, and at the same time assigned to a public address. It should be noted that a paper wallet may contain one or more public addresses, while there can only ever be one private key.
This should remain with the owner of the wallet and not be accessible to others. So, let’s create a Ripple paper wallet together.
Creating a Ripple paper wallet – safety first
The security of creating a wallet must always take precedence. Paper wallets are basically nothing more than wallet backups, but they are vulnerable if the private key of the wallet is not kept safe. It is, therefore, very important to take a few notes and take the time to implement them.
Paper wallets are brilliant if you keep them in secure locations, such as a safe. An online generator is usually used to create the wallet. This approach is less secure than creating the wallet in an offline environment, but very easy.
By the way, paper wallets are sometimes referred to as cold wallets or cold storage. Staying safe requires some preparation and a little technical understanding. The offline solution presented here is only one of many possible approaches.
Creating a Ripple paper wallet – offline wallet creation
The easiest way is to download a live Linux distribution and burn it to a CD or DVD. Which live distribution you use does not matter. However, you should verify the checksum of the distribution after the download. Once that’s done, it’s time to get your Ripple cold wallet – you can download one at github.com/ripply-eu/ripply-paper-wallet/releases.
Save the file and verify, as before, the checksum of the file. Next, disconnect from the Internet. Insert the live Linux CD into the drive and restart the computer. Make sure the computer boots from the CD. After starting the computer, log in to the live distribution.
Open the downloaded HTML file in a browser of your choice. After that, print the page on paper. If you do not have a secure printer, you should at least save the file on a USB stick that is protected against unauthorized access.
Creating a Ripple paper wallet using an online generator
With an online generator, the task of creating a Ripple paper wallet task is simple and requires no further technical knowledge. Of course, you need a computer and an installed browser. Then, navigate to https://ripply.eu/coldwallet.html, although this path is not the only solution.
Copy the Ripple address displayed on the website and save it for later use. You can use this to retrieve the balance of your Ripple paper wallet later. Print the file and save the printout in a safe place. Now Ripple tokens can be sent to the paper wallet.
The paper wallet should never be out of your hands. The same applies to the private key of the wallet – releasing it is like giving a stranger the pin number of your credit card.
Creating a Ripple paper wallet – using the wallet
After completing the Ripple paper wallet mission, it’s time to use the wallet. Receiving Ripple tokens is easy. Simply pass your public key as alphanumeric or QR code. If the sender now sends tokens, they are assigned to the public paper wallet address. If you ask for the account balance of the paper wallet, you will see the booked tokens.
You can check the account balance with a Blockchain Explorer. If you enter your public key, Explorer will show you relevant transactions. If you want to send tokens from your paper wallet, you need to take the detour via an online wallet. After importing into one, you can freely access your Ripple tokens.
The Ripple paper wallet is definitely safer than an online wallet. The big advantage is that the wallet cannot be manipulated online. Well sealed, tokens in the paper wallet are as safe as the gold in Fort Knox. Just remember that the wallet is only safe if you follow all of the above advice.
Coin-Report.net was founded by Thomas Mücke.
With the help of Coin-Report.net magazine, he tries to bring light to the field of crypto-currency.