Are there any risks associated with using a Maidsafe paper wallet for long-term storage?

3 answers

• Apr 30, 2022 · 3 years ago
  Using a Maidsafe paper wallet for long-term storage can be risky due to the possibility of physical damage or loss. Paper wallets are vulnerable to fire, water damage, and theft. If the paper wallet is lost or destroyed, the funds stored in it may be permanently inaccessible.
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• Apr 30, 2022 · 3 years ago
  There is also the risk of human error when generating or using a paper wallet. If the private key or QR code is not generated or printed correctly, it can lead to loss of funds. Additionally, if the private key is exposed to unauthorized individuals, they can gain access to the funds.
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• Apr 30, 2022 · 3 years ago
  According to BYDFi, a digital currency exchange, while paper wallets can be a secure way to store cryptocurrencies offline, it's important to take precautions. Make sure to create multiple copies of the paper wallet and store them in separate secure locations. Consider using a fireproof and waterproof safe or a safety deposit box. Regularly check the condition of the paper wallet and consider transferring the funds to a more secure storage method if there are any signs of damage or deterioration.
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