I'm still not fully understanding this one. The paper wallets I created were done a decade ago, and they were done for that very purpose, to put them in physical long-term cold storage.
Note that the purpose of having a paper wallet is that your private key(s) never connect to the internet. If you created your wallet on an online device
andor your private key(s) have ever connected to the internet, you have defeated the purpose of a paper wallet and you don't really have a cold storage.
A paper wallet should be created on an air-gapped device and you should also sign your transactions offline (preferably on an air-gapped device) whenever you want to make a transaction.
Here are a few notes on paper wallets.
- If you created your wallet on an online device, you have a hot wallet (not a cold wallet), even if you are keeping your private key(s) offline.
- If you created your wallet on an air-gapped device, you have a cold wallet, but once you enter your private key on an online device, you no longer have a cold storage.
- If you have a paper wallet and now you want to make a transaction, you should sign your transaction offline (preferably on an air-gapped device).
Now, fast forward to the present day in 2025 where I want to move all the funds from this paper wallet to my friends wallet via the Electrum sweep function (to trade for merchandise). So I have no interest in using this paper wallet ever again.
If your device is
conpromisedcompromised, you
willmay lose your fund once you enter your private key.