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How to create a new Paper Wallet

The Paper Wallet is a safe and easy way of storing your funds offline away from potential hacks.

Getting the generator

To create a Paper Wallet you first need to download the Paper Wallet creator from the website:

https://navcoin.org/downloads/ 

or use the generator on the website:

https://paper.navcoin.org/

Please note:

It is recommended to run this offline with no connection to the internet. Also make sure you have no keyloggers or viruses on your system as they might steal your private keys.

Creating a new wallet

After installing the Paper Wallet creator or opening the website you will have the option to generate a new wallet.

First select the desired amount of addresses in your wallet. You can chose up to 4 addresses by selecting the amount in the left dropdown.

You can also generate a black-and-white wallet if you choose but the default is colored.

Enter a password to encrypt the private keys. This is recommended since the keys will be stored in plaintext otherwise and anyone will be able to take your private key and access the funds linked to it. BIP38 works with multiple words so make up a random but easy to memorate sequence of words and enter them into the field. To learn more about how BIP38 works in paper wallets you can read this article.

Then click “Generate Wallets”. If you are chosing to encrypt the private keys make sure to store the backup phrase somewhere safe e.g. a password manager.

Testing encryption

Before printing out the wallets click “Test Encryption” below each wallet to make sure you got the backup phrase right. Enter your password and the encrypted key and click “Decrypt”. Make sure the private keys match with the generated ones. If it throws an error make sure your phrase was correct or start over. You can go back to the wallet overview page by clicking on “Generate” on the top.

Printing and Storing

After you made sure all of your private keys are correct you can proceed to print the wallet. After you printed it cut it out and fold it in the marked places. You can store the paper wallet in a safe or in your wallets.

To send coins to the Paper Wallet you can either use the QR code when using NavPay or enter the address to your wallet. It is recommended to send a small test amount first.

To check if your coins arrived put the address into the block explorer:

How do I view my transaction on the block explorer?

If you wish to access the funds you can use the following instructions:

How to import Paper Wallet keys into the Core Wallet

How to import Paper Wallet funds into NavPay

Updated on May 17, 2018

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