A paper wallet is a cold storage method for saving cryptocurrencies. The private and public keys are printed on a piece of paper, which can then be stored in a safe place. The funds can be transferred in and out of the paper wallet by scanning the QR codes with a cryptocurrency wallet. Paper wallets are a great way to store your cryptocurrencies offline in a secure manner. They are also relatively easy to set up and use. However, it is important to note that paper wallets are vulnerable to physical damage and hacking if the QR codes are not properly protected.
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