Paper Wallet Myths Debunked!

Paper wallets are the safest way to store cryptocurrency.

That’s a generalization, and of course the “safest” way to store tokens varies depending both upon your circumstances and what you consider safe. But generally peaking, depite numerous debates that will undoubtedly continue, the fact remains this is the most secure method for storing cryptocurrencies. That’s because you minimize the electronic attack surface, reducing the defense to the physical realm.

There are dangers and pitfalls with paper wallets to be fair, but they are entirely avoidable. That’s what this post is all about – debunking the popular notion that paper wallets are a good choice in theory, but not in practice! Let’s see how it goes, and please – to the makers of hardware wallets, I use your products and love them, it’s not personal.
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Hardware wallets: Digital Bitbox

I’ve tried most of the hardware wallets out there, and I’m passing along my experience with them – one by one. I recently purchased a Digital Bitbox, and I’m loving it, so let’s begin there.

This device is an USB mass storage device with a micro-SD card that is used to backup the private keys to your wallets. The industrial designers did some amazing work here – its form factor is basically that of a slimmed down USB thumb drive with a slot in the side for the micro-SD card slot, an LED and a corner hole to let you carry this on a keychain.

For me, the Bitbox’s form factor is the best of any hardware wallet. Having said that it’s larger than the Opendime product and it does not have the graphic display of Trezor and Keepkey, and the added security that enables. Lacking a display and the wider footprint that goes along with it means this is lean and probably more durable over time.
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