Let’s start with learning what Dash Paper Wallet stands for. In plain English, a paper wallet is a document containing all of the data necessary to transact a transaction. A dash paper wallet is can store Dash Coins directly on a piece of paper. When done properly, paper wallet (cold storage) are safest way to store coins for a long time. Paper wallet makes you able to maintain 100% ownership and control of your coins not a 3rd party service.
A Dash paper wallet consists of two keys, one public address and one private key. The one you’ll already likely be familiar with is the public key, which is your wallet address and is how other people send coins to you.
- Dash Address : A Dash address is equivalent of bank account number and is made up of 26-35 alphanumeric characters beginning with the alphabet X, that represents a possible destination for a Dash (previously Xcoin) payment.
- Private Key : A private key is a secret number that allows Dash to be spend. Every Dash Paper Wallet contain a private key which is mathematically related to a Dash address. Since private key is the “ticket” that allows someone to redeem coins, it is important that these are kept secure. A private key is made of 64 characters in the range 0-9 or A-F.
Note : Please make sure that you read this guide 3-4 times to learn how it works. Once you do understand the whole procedure, try to deposit with very small amount of Dash (a few cents worth) before you actually store the amount that you want to on them.
How to Generate Dash Paper Wallet Securely
Step 2 : We do not recommend to generate a Paper Wallet from an online PC. Malware on the PC may be able to steal your paper wallet keys. In this guide we used Ubuntu Linux Live CD Mode. Live mode is a complete bootable computer installation including operating system which runs in a computer’s memory (RAM), rather than loading from a hard disk drive. Thus saves you from the hassle of installing the complete OS.
Step 3 : Turn off your WiFi, remove Ethernet cable (if any) from your PC. Put the Ubuntu DVD into the DVD-drive or USB installer to USB port and restart the computer. You should see a welcome screen prompting you to choose your language and giving you the option to install Ubuntu or try it from the DVD. Choose your preferred language and click on ‘Try Ubuntu’.
Note : You may need to change boot device order in bios in order to boot linux live cd.
Step 4 : Your live desktop should appear in few minutes. Now plug the USB drive with zip file we downloaded earlier in step 1.
Step 5 : Extract your zip file and open the dash-wallet-generator.html file with Firefox browser.
To generate new addresses, move your mouse around to add some extra randomness, or type some random characters into the text box until it stops. You’ll get two keys, first key is your Dash Address. You can transfer your Dash Coins to this address. Second key is your Private Key, never expose this key to internet until you need to redeem the wallet.
Step 7 : After you have generated your cold paper wallet, you can print out all the information. You can also note down your keys and keep it in a safe place. We also advise you to make 3-6 copies of your keys and keep them in multiple safe places. Make sure to never bring the Printer and USB stick back online again. Since private key allows someone to redeem coins, it is important that these are kept secure.