A paper wallet is a cold storage method for storing cryptocurrency private keys offline. Private keys are generated offline and printed on paper, which makes them secure from online threats. Paper wallets can also be used to store non-cryptocurrency assets such as important documents, wills, and trusts. Paper wallets are easy to use and can be generated for free using an online service such as the Ethereum Paper Wallet Generator.
To generate a paper wallet, simply enter your desired address and private key into the generator and print out the resulting PDF. Be sure to keep your paper wallet in a safe place, as it contains the private key that gives you access to your funds.