Welcome everyone. Today’s video is
about how to send ADA from your Yoroi
ledger wallet to your Yoroi paper
wallet. I always tell people that you
should have multiple points of failure
and you should split up your funds and
no matter how much ADA you have and how
much ADA is important for you to have
having some in a paper wallet, having
some in a ledger wallet, putting it in Daedalus,
putting it in Yoroi splitting up
your funds so if one single point goes
wrong not everything goes wrong and once
again I believe that having it on a
ledger and a hardware wallet is probably
one of the safest things you can do.
Paper wallets are very safe as well, but
there are certain precautions that you
need to take in order to make sure that
your funds are safe for the long term.
This video is probably intended to help
the HODLers out there secure their funds,
but I’d like to remind everyone that
there was a Binance Hack recently and I
believe the hackers walked out with 40
million dollars. Binance is taking care
of the hack, but what if it was 400
million dollars. Do you think that
Binance would be able to cover it without
people losing some part of their funds?
That could happen in the future.
I’m not saying it will. I’m just saying
that today it’s 40 million tomorrow it’s
400. Eventually the exchanges won’t be
able to bail you out anymore.
Take that into consideration and make
sure that you secure your funds. The
first thing you’re gonna do is go to the
upper right hand corner where you see a
little Settings tab and you’re going to
click that and there’s a paper wallet
setting. You’re going to go from the paper
wallet setting and there is a button
that says create a paper wallet and you
can determine how many addresses you
want to print that paper wallet for. It’s
going to bring up a prompt that says set
custom paper wallet password. You want to
create a password. Create a secure
password and write it down somewhere.
If you forget your password or you lose your
password, as long as you have your seed
phrase for your paper wallet you’ll be
able to you’ll be able to reactivate
that wallet sometime in the future
and you can just reset the password so
the most important thing is the seed phrase
on that paper wallet, but right now we’re
gonna go ahead and create our paper
wallet password. I recommend that you use
different passwords then what you
normally use for your bank or your email.
I know a lot of people use the same
password for everything and if someone
compromises your password for your fiat
ramp like for example your banks and
your emails and everything in the
traditional world. Chances are they
probably might try that in the crypto
world sometime in the future so use
different passwords so moving forward
you’re going to hit next after that. You’re
going to render the PDF certificate for
your paper wallet and once again you
want to do this on a computer that has
not been compromised that you’re just using for your funds you’re going to
go ahead and download that paper wallet
certificate and it’s going to be a PDF
document. I wouldn’t store it on your
computer just print it and delete it or
something. Once you open up the PDF
document, you’ll see that there are 21
words. 21 words that are included with
each paper wallet. This is your seed
phrase and on the following
screen, it will ask you to input all 21
of those words in order to activate your
paper wallets and once you put those 21
words, you’re also going to be prompted
to write down a sort of QR code and it’s
usually four letters and then followed
by a dash and four numbers this is also
printed on your paper wallet
as well it’s called the checksum so as
long as you have your paper wallet
you’ll be able to have that as well and
once you do that you have your paper
wallet activated and you have the
address. You can copy and paste the
address so what you do is you copy and
paste the address from your paper wallet
here we will copy and paste the address
from the wallet and we’ll put it into
the Yoroi ledger wallet
and we’re going to send the ADA from the
Yoroi ledger to
the Yoroi paper wallet. We’re going to go
ahead and send 10 ADA plus some fees
and I have on the upper right hand
screen what the ledger screen looks like
the ledger prompts so you’re going to
have to activate the transaction using
your ledger and it’s pretty much you
either right click to continue if you
see that checkmark and if you see you’ll
be able to verify the address you’ll be
able to verify the quantity of ADA that
you’re sending and for each time you see
that all you have to do is hold two
buttons together and click forward so
then just click both buttons at the same time and you’ll be able to move forward in the prompt
and that’s going to allow you to send the ADA and approve the transaction. As you can see, the transaction has been
sent so 10.167994 ADA so it was 10 ADA plus
0.167994 ADA
as far as fees so now my balance will
decrease on my Yoroi ledger and my
balance will reflect the correct balance
on the paper wallet and if you want to
make sure you
copy and paste that address into another
tab you can go to adascan.net, put
that address in and see the funds within
that particular address I’m going to
display some safeguards that you can
take in order to make sure that your
funds are secure. I recommend that you
don’t store it in a central location
keep it in various different locations
or not even the location that you’re
staying. Just take the
precaution that you need and whether
you’re holding 100 ADA, 1,000 ADA, 100,000 ADA whatever
is important to you I think you should
safeguard it so the paper wallet is a
cheaper option than the hardware wallet
and it is very secure
so here we have the Yoroi paper wallet
to make sure that we make this wallet
as clean as possible
Here’s the front side and here’s the
back side and it says glue
I wouldn’t recommend gluing because if you take it out in like three years and the
glue is stuck the paper and you kind of
rip it I would either tape it or staple
it primarily staple it and then you just
fold it like this I believe you can fold
it however you want and then the paper
certificate looks like this so after you
fold it this is not the best fold, but
you understand what it’s going like it’s
it’s going to look like this and then
you just store in a great place. Here’s
a continuation to the video so I have in
front of me a fire resistant document
pouch I purchased it on Amazon. I’m not
sponsored by this company. They did not
send this to me. I just purchased it
because I thought that this would be
good protection for a paper wallet. One
of the points of failure for a paper
wallet as I was discussing before if you
glue your paper wallet together and say
in three four years I don’t know the ink
smears and it rips the paper or you tape
it and it rips you want to make
sure that you probably staple it or do
something that’s not as abrasive and in
addition it’s paper so it can burn so I
would recommend that you maybe laminate
it so the ink doesn’t smear over time
but also what if your house burns down
if you’re not keeping in your house
that’s fine but what if for the place
where you’re keeping at burns down you
want to make sure that you have it in a
fire resistant safe or a fire resistant
document pouch. It would be a shame to
see that you’re holding it for you’re
HODLing it for three to five years and
something tragic happens to your
personal property. At least you can
protect that your important documents so
we’re gonna see exactly how this works
and whether or not it’s a good
investment.
I purchased this on Amazon let me know
what you think
Here’s the document pouch pluck those
okay fire resistant document pouch we’re
gonna go ahead and put our wallet inside
the pouch and then let’s say in two
years or three years ADA hits the moon
and you pick up you’re like Oh
where’s that Yoroi paper wallet I had oh
and you’re singing happy birthday to
yourself and you have a candle and you’re just going to light this candle on fire
let’s see hey happy birthday ADA hit the moon ADA hit the moon ADA
hit the moon. Let’s see what’s
happening.
I think it’s fire-resistant, but if we
take this out oh no all of a sudden your
paper wallet is burnt you see what
happens but did not burn inside the
pouch, but it’s burning over here so you
want to make sure that you maybe invest
in one of these things because your
paper wallet can burn quickly but it’s
not gonna burn inside the pouch so once
again you find what’s good for you, but I
think this is a good sort of investment
and there goes some ADA right there