A Paper Wallet, the receipt with two QR codes, is a temporary form of storing your Bitcoin. The top QR code is the Public Key and the bottom QR code is the Private Key. The Public Key is used to fund the wallet while the Private Key is used to retrieve funds from it.
How to Use a Paper Wallet
Once created, a Paper Wallet is very easy to use. To receive funds in your Paper Wallet, you must scan the Public Key (the top QR code) at the time of your purchase. In order to access and use your funds, you must import your funds into a digital wallet by scanning the Private Key (the bottom QR code). The Private Key is the only way to transfer the crypto out of that Paper Wallet and should never be shared. If you share your Private Key with anyone, they will have full access to the crypto being stored.
Although a Paper Wallet is easily accessible and quick to use, it is also delicate and can easily be damaged. Taking proper care of your Paper Wallet is very important since it is one of a kind. We use thermal receipt paper to print the Paper Wallets, so we recommend you keep it stored in a cool, dry place until you can import the funds into a more stable form of storage, such as our RockItCoin application.
How to Import a Paper Wallet
We'll walk you through the process of importing your funds in 5 steps. You will need to have a digital wallet to import the Bitcoin on a Paper Wallet, such as our RockItCoin mobile app.
Apple
Android
Sample Paper Wallet:
DISCLAIMER: Keep your Paper Wallet safe, it is one of a kind! If damaged, the QR codes will not scan and if the Private Key is incomplete, the funds will not be transferable.
You will be scanning the Private Key (the bottom QR code). The QR scanner is very sensitive to recognizing a QR code, we recommend covering the top QR code to avoid accidentally scanning it.
Step 1:
Start by pressing the "3 lines" at the top right of the screen.
Step 2:
Select “Sweep Private Key”
Step 3:
Select the wallet type for your cryptocurrency.
Please make sure you are selecting the correct cryptocurrency that is in your paper wallet.
(In this scenario we will be selecting Bitcoin)
Step 4:
Place the BOTTOM QR CODE (PRIVATE KEY) in view of the camera.
It will scan automatically for you.
Make sure to only scan the private key and not the public key.
Step 5:
Select “Import” to transfer the funds from your Paper Wallet into the mobile app.
From here it will say "Importing Private Key" and "Private Key Successfully Swept"
Congratulations you have imported your paper wallet.
Thank you for choosing RockItCoin!