The Paper Wallet allows you to create a new Cardano Wallet for a certain use case in seconds.
A great example to explain the use of the Paper Wallet is how we implemented it to the FIAT Payment option in NMKR Pay; The buyer decides to pay for his NFT with Credit Card. AS the user pays with this FIAT option, there is obviously no Cardano Wallet address given to receive the NFT. So, where does it go? This is where the Paper Wallet comes in place, it is automatically created and receives the NFT. The buyer downloads the Paper Wallet details to access this wallet during the payment process.
The Paper Wallet is a non-permanent solution to store your NFTs, please move them out as soon as possible to a self-custiodian Wallet.
You received the Paper Wallet as a present, or you bought an NFT via FIAT Payment and now ask yourself, what is going to happen next. As the Paper Wallet is meant as non-permanent solution, you should move the bought NFT out of the wallet to a self-custodian Wallet, that only you have access too.
Keep this key save, with this key, the wallet on the blockchain can be accessed by anybody that is in possession of that keys with every Cardano Wallet-Software.
Import the Paper-Wallet
Every Wallet-Software allows you to also import existing wallets, this will be done by entering the seed-phrase to the Wallet-Software. This is also how you want to add your Paper-Wallet to the Wallet-Software.
Move the NFT out of the Paper Wallet
Switch now back to the self-custodian wallet that you created with NMKR and copy the receiver address there. Switch to the Paper-wallet again and send the NFT to your newly created self-custodial Wallet.