private and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-public-key/">public keys</strong></a>. Or, in other words, a physical storage system. Cryptocurrencies are <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-digital-asset/">digital assets</strong></a>, so a paper wallet provides them with a <strong>system to securely keep unique keys to users' virtual funds</strong>. Besides, the keys can be maintained in their alphanumeric raw form or printed as a QR code.&nbsp;</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">Wallet generators provide unique public and private keys that are generated at <strong>random</strong>. However, despite the fact that paper wallets are <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cold-storage/">cold storage devices</strong></a>, they also pose a number of concerns.</p>\n<p>For example, the paper might be destroyed or lost. Moreover, the printer's paper and ink quality could also have an influence on the readability of the keys, especially if they are stored for an extended length of time. Factors such as water, <strong>fire</strong>, or air moisture can potentially cause harm to the paper wallet.&nbsp;</p>\n<p>Furthermore, difficulties may develop if the wallet-generating software is updated and fails to recognize the format of the previous paper wallet. Though there are also &ldquo;<strong>steel wallets</strong>&rdquo; out there that are fire-resistant and should last a very long time.</p>\n<p>Since paper wallets are not connected to the internet, they were once thought to be safer than other kinds of virtual funds storage.</p>\n<p>Note that cryptocurrencies like <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin and <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum have both &ndash; public and private keys.</p>\n<p>For instance, a public key operates in the same way as a public email address and can be publicly disclosed to enable others to deposit it. However, it <strong>permits others from accessing BTC</strong> in your account. Speaking of private keys, they operate like vulnerable passwords and provide the holder with the possibility to access and exchange the funds.</p>\n<p>Despite the fact they are especially safe if they are placed in a safe spot, paper wallets are <strong>not as popular as they used to be</strong> as a result of upgrades in cryptocurrency storage technology.</p>\n<p>If you were to create a paper wallet, you would need a credible paper wallet generator. Nevertheless, make sure not to create a paper wallet from an electronic source because you can leave a digital footprint that might be used by hackers later on.</p>\n<p>The easiest approach to creating a paper wallet is to write down your recovery <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-seed-phrase/">seed phrase</strong></a> or the private key from your screen or device. Though check it at least twice, and then hide it in a secure place. This is something that can be accomplished in both <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-software-wallet/">software and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hardware-wallet/">hardware&nbsp;wallets.

","level":"medium","meta_title":"What is Paper Wallet? Definition & Meaning | Crypto Wiki","meta_description":"Paper Wallet meaning: Paper Wallet - is essentially a piece of paper that contains a user's private and public keys.","meta_keywords":null,"language":"en","created_at":"2022-03-24T15:11:39.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-paper-wallet"},"prevSection":{"id":584,"original_id":null,"author_id":42,"translator_id":null,"title":"What are Perpetual Contracts?","slug":"what-are-perpetual-contracts","section":"P","keyword":"Perpetual Contracts","status":"published","definition":"derivatives that are similar to futures contracts but don’t have an expiration date.","content":"<p>A perpetual contract is a type of <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-derivative/">derivative that is <strong>similar to </strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-futures/">futures contracts</strong></a> because it uses tokens as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-collateral/">collateral to open a leveraged position but doesn&rsquo;t have an expiration date. If you forecast that the price of that asset will rise, and it does, you receive more tokens than you put in when you close your trade. If it&rsquo;s the opposite situation, you receive less than what you invested.</p>\n<p>As mentioned before, <strong>expiration is the main distinction between futures and perpetual contracts</strong>. Futures contracts are resolved after a predetermined time period, but perpetual contracts have no expiration or settlement date, allowing you to keep a contract indefinitely.</p>\n<p>As the expiry date approaches, the price of classic futures contracts increasingly converges with the spot market price of the underlying asset. Since they don't have an expiration date, perpetual contracts have a premium known as a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-funding-payments/">funding payment</strong></a>, which is paid between traders to keep the price in line with the spot market.</p>\n<p>When the contract price is higher than the spot price, traders holding <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-longing-long-position/">long positions</strong></a> have to compensate traders holding <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-short/">short positions</strong></a>, and vice versa. These payments are made on regular intervals (typically 1 hour or 8 hours).</p>\n<p>Perpetual contracts are the most traded cryptocurrency instrument thanks to their ease of use and versatility.</p>","level":"easy","meta_title":"What are Perpetual Contracts? Definition & Meaning | Crypto Wiki","meta_description":"Perpetual Contracts meaning: Perpetual Contracts - derivatives that are similar to futures contracts but don’t have an expiration date.","meta_keywords":null,"language":"en","created_at":"2022-03-24T14:52:38.000000Z","updated_at":"2023-03-27T13:25:45.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-are-perpetual-contracts"},"currentChapter":"P","currentSection":"what-is-phishing","chapterTitle":"P","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-phishing","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter P

What is Phishing?

Phishing MEANING:
Phishing - the practice of tricking people into revealing their personal or confidential information.
Easy
1 minute

Let's find out Phishing meaning, definition in crypto, what is Phishing, and all other detailed facts.

Phishing is a practice of tricking people when a scammer poses as a reputable organization or individual in order to deceive people to disclose their personal information. Scammers look for various types of information including passwords, Social Security numbers, banking information, and so on. Phishing is often performed through malware links that are disguised to look legit.

Phishing can also occur in the form of emails or texts from scammers. They are made to look as if they are sent from legit sources. These fake emails or texts can install malicious programs that would allow scammers to access a computer or network of their victim.
Prev Section
All Crypto Terms
Next Section