Blast to the Past: Ultimate Security with the XELIS Paper Wallet

5 min read6 days ago

As the XELIS community continues to expand, there has been increasing demand for secure storage solutions, particularly hardware wallets. In response, XELIS has completed the development of a paper wallet system as a temporary solution, offering a highly secure way for the community to store their assets while hardware wallet support is being developed. Paper wallets provide an entirely offline storage option, ensuring protection against hacking and other online threats.

The History of Paper Wallets

Paper wallets originated with Bitcoin (BTC) as a method for keeping private keys offline, offering cold storage that safeguarded funds from online risks. As cryptocurrency grew in value and cyberthreats increased, early adopters saw the need for secure offline storage solutions. Paper wallets quickly became a popular and cost-effective way to store private keys physically.

Advantages and Disadvantages of Paper Wallets

Advantages:

Offline Security: Paper wallets can be generated fully disconnected from the internet, making them immune to hacking and malware.
Full Control of Private Keys: Users maintain sole custody of their private keys, ensuring that no third party can access their funds.
Cost-Effective: Paper wallets do not require any specialized hardware, making them a budget-friendly option for secure storage.

Disadvantages:

Physical Vulnerability: Paper can easily be lost, stolen, or damaged. Without proper backups, this can result in total loss of funds.
No Easy Access to Funds: To access funds stored on a paper wallet, you must import the private key into a software wallet, which exposes it to potential online risks. As such paper wallets are best for long-term storage
Requires Secure Backups: It’s crucial to have multiple copies of your paper wallet stored securely to prevent losing access to your funds.

Instructions on How to Use Xelis Paper Wallet

XELIS paper wallets are now available for testnet and mainnet. XELIS paper wallets allow you to create a secure, offline wallet for storing your XELIS cryptocurrency. Below are two methods you can use to create your paper wallet:

Option 1: Complete Offline Generation (Most Secure)

1.) Download the Paper Wallet Application

Visit https://paperwallet.xelis.io from an internet-connected device.
Download the paper wallet generation application from the site. (Top Right Corner, Only available for Windows currently)

2.) Transfer to a Flash Drive

Once the application is downloaded, move the file onto a USB flash drive.

3.) Use an Offline Computer

Insert the USB flash drive into a computer that is not connected to the internet. This computer should be isolated from networks for maximum security.

4.) Run the Executable

Open the USB drive and run the downloaded application. No installation is required.

5.) Generate Your Wallet

The application will generate a Xelis wallet including your public address and private keys. These keys should be kept secure.

6.) Print the Paper Wallet (Optional)

You can print the wallet from the offline computer if needed. Make sure to keep it stored in a safe location.

Option 2: Web-Based Interface

1.) Go to the Xelis Paper Wallet Site

Visit https://paperwallet.xelis.io using your browser.

2.) Generate the Wallet

The site will generate your Xelis wallet directly in your browser. No server calls are made during the generation process, ensuring your wallet is created offline in the browser.

3.) Save or Print Your Wallet

Once generated, you can save or print the wallet with your public address and private keys. Ensure the printed or saved version is stored securely.

Pros of Each Option

Option 1: Complete Offline Generation (Flash Drive + Offline Computer)

Highest Security: Since the wallet is created on a machine completely isolated from the internet, there is no risk of exposure to malware or hacking attempts.
No Network Exposure: Using an offline computer ensures that your private keys are never exposed to online threats.
Air-Gapped Process: The use of an air-gapped computer (one that has never connected to the internet) provides extra security against remote attacks.

Option 2: Web-Based Interface

Ease of Use: This option is more convenient and quicker, as it doesn’t require moving files to a flash drive or using a separate offline machine.
Still Secure: Although you are using a browser, the wallet generation occurs entirely in your browser, with no external calls to servers, making it a relatively secure method.
Accessibility: You don’t need special hardware or an isolated computer — just a device with internet access.

Summary:

Option 1 is best for those who prioritize maximum security and are willing to use an offline machine.
Option 2 is suitable for users seeking convenience with a good level of security, though slightly less secure than a fully offline process.

Features and Benefits of the Paper Wallet

The wallet generator offers several useful features to enhance the user experience:

Change Seed Language: Choose from 11 available languages for your seed phrase.
Customizable Background: Users can set a different background for their wallet, adding a personalized touch.
QRCode Generation: The tool generates a QR code for both the public and private keys, making transactions easier.
Mobile Responsiveness: The wallet generator is designed to work on mobile devices, although there may be occasional browser errors, such as element offset or QR code issues.
Testnet Wallet Generation: Users can generate testnet wallets to practice
Display Wallet Amounts: A convenient input box allows users to manually enter and display their wallet balances on the printed wallet.

Community-Driven Demand for Secure Solutions

The development of XELIS paper wallets is driven by the community’s growing demand for secure, offline storage solutions. While hardware wallet support is actively being pursued, paper wallets serve as a temporary solution to meet these security needs. This ensures that users can protect their funds as the ecosystem expands and prepares for more advanced storage options.

Conclusion

As the XELIS community continues to grow, paper wallets provide a practical, secure solution for storing assets offline. While still under development, XELIS paper wallets allow users to familiarize themselves with generating and managing wallets in preparation for future updates. Paper wallets will play an essential role in maintaining the security of the XELIS network until hardware wallet support becomes available.

(Article Co-Written by Cyber ❖ & Eevil ❖)

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