As a result of the decrement in surface to volume ratio, nanomaterials have completely new physical and chemical properties, which differ from their macrosized counterparts. Compared to other nanomaterials, silver nanoparticles exhibit superior opto-electronic and physico-chemical properties, which makes them valuable materials for versatile applications. Amongst potential applications, ink-jet printing of conductive inks for the purpose of flexible electronics fabrication is of special interest. In this dissertation, a fast, simple and economical synthetic route for the preparation of silver nanoparticles has been developed, together with a unique method for the characterization of colloidal nanosuspensions. Cyclic voltammetry was used as the main technique to study the extent of ionic to nanometallic silver conversion, interactions between nanoparticles and the influence of organic and inorganic acids on the surface-bound stabilizer. The prepared silver nanoparticles, obtained by reduction of silver(I) ions with hydrazine, utilizing poly(acrylic acid) and poly(methacrylic acid) as stabilizers, were used as a base for the preparation of conductive inks suitable for ink-jet printing. To achieve compatibility of the ink and printing system, optimal physical and chemical properties of the formulation (viscosity and surface tension) were determined, as well as the shape of the crystallites, the particle size distribution and their surface charge. In order to prepare a functional material with satisfactory electrical properties for use in flexible electronics, the inks were printed onto commercial polymer substrates that allow sintering at room temperature. With the combination of chemical and thermal sintering techniques, the resultant conductivity of printed nanosilver layers reached 70% of bulk silver conductivity. These excellent electrical features are proof of the optimal and reliable printing performance of the nanometallic silver suspension. Based on the obtained results, it was concluded that the prepared silver nanoparticles represent a unique multifunctional material, with proven potential for design, preparation and characterization of chemical (bio)sensors based on the prepared silver electrodes.