Last Updated on September 2, 2021 by cryptocreed
Cardano is 3rd ranked coin as per market cap. The current last 24-hour market cap is 91,023,402,998 USD and the price of 1 ADA token is 2.83 while writing.
Having a monopoly in the market is not good for the market and for users for sure. By having one more competitor to Ethereum it is now a game that is played equally.
The transaction fee on the Ethereum network is too high for any simple transaction user has to pay up to 10 USD in the gas fee. It increases up to $300 for contract transactions.
We are not going deep into what is Cardano and what is Ethereum but in this article, we are going to learn how to create a Cardano paper wallet and what is the best Cardano paper wallet to store your ADA coins.
Why Use Paper Wallet To Store Cardano?
Paper wallets are considered as the safest type of wallet to store any type of cryptocurrency because it allows you to have control over your account and you do not have to depend on someone else like we do in CEX exchanges already.
For more safety, you should create paper wallets offline instead of online, in this way you follow one more safety procedure. Creating an offline Cardano paper wallet can be a bit complex for newbies but not hard for other daily users.
You may like to visit another article where I explained how to use MyEtherWallet offline.
How To Create Cardano Paper Wallet
Currently, there is only one wallet that allows you to generate a Cardano paper wallet and it is Yoroi. It is officially backed by the Cardano platform. From this, we can say it is the more secured wallet for ADA.
Yoroi is used by more than 300K users on Chrome, 10K from Edge, more than 17K users from Firefox, 100K users with Android devices, and 3K from iOS devices.
Let’s check out how to create a Cardano paper wallet using Yoroi.
Step #1: Visit https://yoroi-wallet.com
Step #2: Click on the download button and choose your device, I have chosen Edge.
Step #3: It will bring you an Install page like this one https://microsoftedge.microsoft.com/addons/detail/yoroi/akoiaibnepcedcplijmiamnaigbepmcb
Step #4: Install the wallet to your device
Step #5: Click on the wallet icon from your extension area and it will open a new tab like the below one.
Step #6: Click on Create wallet
Step #7: Now choose currency definitely we are going to select Cardano.
Step #8: You will get two options and we have to select the Paper Wallet option.
Step #9: New screen will ask you a number of addresses you want to generate and it will give a small disclaimer, suggest to read. If you need more wallets then you can select another number. At once you can generate 5 addresses only. Click on Generate Paper Wallet button.
Step #10: Set your wallet password.
Step #11: Now click on download logo to download your paper wallet in PDF format and then click on Next.
Step #12: Here just simply copy your public address and click on Finish.
Now you have successfully created your paper wallet.
So what next? Now let’s see how you can access your Cardano paper wallet.
Access Cardano Paper Wallet Generator
It is very simple. Just click on the Yorai Wallet icon from the extension to start accessing your wallet. Follow the below steps.
Step #1: Click on the Restore Wallet option, for this option check the image from step 5 from above.
Step #2: Choose your currency, here we are choosing Cardano.
Step #3: See the below image and click on the Paper Wallet option.
Step #4: Here you have to enter your wallet name (any), Recovery phrase (you can find in the pdf you downloaded), paper wallet password, and you can also set a new password by entering any new password.
Done now you have access to your account. Now you can send and receive Cardano to anyone easily.
How To Check Wallet Balance?
There are many explorers where you can check your Cardano wallet balance. Visit this website and enter your ADA wallet address to check your balance.
https://explorer.cardano.org/en.html is one of them.