BERNcash Heads

BERNcash

BERNcash Tails

What is a Paper Wallet

If you recently were given a BERN airdrop paper wallet, you may be wondering what it is. It is what is called a “paper wallet”, more specifically, a BERN Airdrop Paper Wallet. It is, in some ways, very much like a paper bill or bank note you are familiar with. In other ways it is like a prepaid credit card that you can load more BERN value onto.

To add BERN to your BERN paper wallet, you would send BERN to the Public Key. The public key is, as the name implies, is public. It is safe for other people to know your public key. The only thing someone can do by knowing your public key is send you more BERN. Not take away BERN. To take BERN away from a paper wallet, or spend, one must import your private key. As the name also suggest, the private key is private. If anyone gets a hold of your private key, they can steal all the BERN that resides in the paper wallet. So it is important to not leave it around unattended in non-trusted areas. A BERN paper wallet is pictured below. On the left you will see the public key and on the right, the private key. You will also notice QR codes are present for both. The QR codes can be scanned to read the numbers easier. As you will see in the instruction set.

Now, what to do with your paper wallet? Well, you have three options. A) Keep it, hide it under your mattress, and in a couple years it might be worth much more. Or B) you can keep it, add more BERN to it by means of the free faucet or purchase more. Lastly, C) you may move it into an another wallet that is online and connected to the BERN network. Only if you chose the later, will you start earning 10% annual interest.

First let me briefly explain what to do if you choose to keep your BERN on in your paper wallet. If you plan on just storing it away, you do not need to do anything. Just make sure you remember where you stored or hide it. If you intend to keep your BERN on your paper wallet because you don’t have a computer or you just do not want to deal with the hassle/

Your third option, moving all the BERN from the paper wallet into an online wallet so you begin collecting the 10% annual interest. Your BERN will grow interest by you holding it in an online wallet just like a bank does with your money, if you have enough of it there, but at much higher rate then a bank would ever give you. Because now, thanks to the technology of crypto currencies, you are your own personal bank. So you can pay yourself interest. You cant change the rate, that is 10% annual and is programmed into the money. Actually the interest comes from helping secure the BERN network thus, the wallet must be online to do so.

If this is what you would like to do, a separate instruction set has been made for improrting the private key of your paper wallet.

 April 13th, 2016  
 admin