This tutorial shows you how to use the awesome Bip0038 feature of bitcoin, that allows you to create paper wallets that are password protected. It basically means a thief can’t spend your bitcoins even if he/she get’s a copy of your paper wallet. This makes backing up your paper wallets in multiple locations much safer!
Begin by downloading the btc-address software.
You can find the download link if you google bip0038 and choose the first result.
Click on the link that says btc address alpha dot zip.
After the download is finished, I recommend you copy it to an offline computer or at least take your current computer offline.
Then simply extract the archive somewhere and double click btc address dot exe to launch the program.
We will first create our intermediate code which will basically become the password to our paper wallet
Write your password here. Obviously ours is not a very good one, but we only use it for this example.
We will now create the intermediate code from the password and copy it to the clipboard. Also remember to write down the password somewhere or at least give yourself a password hint.
Now we are ready to create some password protected addresses by going to address, generate addresses, two factor encrypted.
Go to address, new address, and choose Two factor encrypted.
We are going to create eight addresses which will all be protected by our password.
Now we can print these on a piece of paper or even a pdf file. Nobody will be able to use your private key without the password, so you don’t really have to worry about somebody stealing the printout.
If you create a pdf instead of printing, please make sure the fonts are readable. This here a typical problem caused by the pdf-software. It seems to help when you uncheck “rely on system fonts”.
Let’s finally copy our public address so that we can give it to anyone wanting to send bitcoins to us.
Later when you want to decrypt your wallet you simply choose, key decrypter, and insert the encrypted private key in the upper field and you password in the lower one.
Now BTC address shows you the real private key which you can use to move your bitcoins around.
Thanks for watching and see you next time on oneminutevideotutorials.com!