How to send BTC to BInance from cold storage

LoyceV

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Quote from: Lida93 on December 14, 2022, 03:21:05 PM

As long as you have a good operating system you need not worry

You're missing the point of cold storage. You can't know for sure whether or not your OS is secure, so the only way to "not worry", is by keeping your keys offline instead of gambling nothing will go wrong. Even if it's only a 1% chance, that's a huge risk if you're handling your life savings.
Also: fix your quotes!

Lida93

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Quote from: udayantha11 on December 01, 2022, 12:49:33 AM

Quote from: mk4 on December 01, 2022, 12:25:45 AM

Quote from: udayantha11 on December 01, 2022, 12:21:15 AM

Are there any big fees for it? i have downloaded exodus wallet , but there are asking 12pharse words. but we only have private key. so what is that differnace?

Use Electrum wallet (electrum.org) instead. More options for importing wallets, and it's a better Bitcoin wallet altogether despite the old school UI.

Quote from: hd49728 on December 01, 2022, 12:38:17 AM

Quote from: udayantha11 on December 01, 2022, 12:13:09 AM

Thanks for the explanations , everybody. Now i have understand. Anyway , Are there any alternative rather than Electrum wallet. Anything can happen in crypto. If electrum wallet hacked , then what else we can do?

As long as you have a good operating system you need not worry but rather be careful on certain adds or apps you're downloading into your device as they can pose danger to your keys by exposing it to hackers. I have been using electrum wallet for a very long time now and when compared to other wallets I'll always pick electrum ahead of others.
Conclusively keep your private keys safe it's very important than you know.

o_e_l_e_o

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Quote from: udayantha11 on December 01, 2022, 12:49:33 AM

Are there any alternative rather than Electrum wallet.

Any wallet which allows you to import raw private keys would suffice. Although I agree Electrum is the best and safest wallet for this task, my go-to secondary piece of light wallet software is Sparrow wallet, which would also be able to import from a paper wallet no problem.

If you are going to use Electrum, note that you'll need to prefix your private key with p2wpkh: if your paper wallet has generated a segwit (bc1q) address.

LoyceV

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Quote from: udayantha11 on December 01, 2022, 12:49:33 AM

Are there any alternative rather than Electrum wallet. Anything can happen in crypto. If electrum wallet hacked , then what else we can do?

There are alternatives, but Electrum is probably the easiest. You're using cold storage to stay safe from hacks, so you should sign your transaction offline:

Quote from: LoyceV on February 19, 2021, 12:35:55 PM

Quote from: mojolama on February 19, 2021, 12:12:41 PM

I was considering Electrum, only downside is that when creating a wallet, seed creation is exposed

Online:
Install Electrum on your PC.
Import your address to create a watch-only wallet.
Preview the transaction, Copy the unsigned transaction. Put it on a USB stick.

Offline and running without hard drive storage:
Get a Linux LIVE DVD. Use Knoppix or Tails for instance, or any other distribution that comes with Electrum pre-installed.
Unplug your internet cable. Close the curtains. Reboot your computer and start up from that DVD. Don't enter any wireless connection password. Keep it offline.
Start Electrum. Import your private key.
Copy your unsigned transaction from the USB stick, load it into Electrum.
CHECK the transaction in Electrum. Check the fees, check the amount, check all destination addresses (character by character).
If all is okay, sign the transaction. Copy it back to your USB stick.
Turn off the computer. That wipes the Live LINUX from memory and all traces are gone.

Online:
Use your normal online Electrum to (check again and) broadcast the transaction.

Bonus:
After moving all your Bitcoin, and once the transaction confirmed, check if you own Forkcoins.

Also: when sweeping paper wallets, you should move the entire balance at once. Or manually set a change address (which could be a new paper wallet).
Warning: some of the paper wallet websites from back in the days now produce compromised paper wallets. Don't trust them anymore!

dkbit98

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Quote from: udayantha11 on December 01, 2022, 12:13:09 AM

If i create a paper wallet , i got a public key and private key. so From using public key we can send BTC from binance. whenever i need to send BTC to binance from paper wallet , How can i do?

With paper wallets you usually have only one receiving public address, just copy that and paste it in Binance exchange, but remember to choose Bitcoin mainnet, not their fake tokens on altcoins chain.
I don't understand why you would use paper wallet for withdrawing from centralized exchnage, unless you plan to hold this for long time, but keep in mind that this coins will be connected with your identity (Binance=kyc) if you don't mix them.

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Quote from: udayantha11 on December 01, 2022, 12:49:33 AM

Thanks for the explanations , everybody. Now i have understand. Anyway , Are there any alternative rather than Electrum wallet. Anything can happen in crypto. If electrum wallet hacked , then what else we can do?

What is your operating system (Windows, ISO, Android)? Are you planning to invest in more cryptocurrencies? Although I do not encourage you to invest in altcoins, but if you want to, you can try ---> https://unstoppable.money/

For more Bitcoin wallet you can try ---> https://bitcoin.org/en/choose-your-wallet

Hacking and data theft depend on how secure your operating system is, so if you are downloading apps randomly, it is best to use a clean device or format your device.

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Quote from: udayantha11 on December 01, 2022, 12:49:33 AM

Thanks for the explanations , everybody. Now i have understand. Anyway , Are there any alternative rather than Electrum wallet. Anything can happen in crypto. If electrum wallet hacked , then what else we can do?

Electrum is one of the most trusted and secure Bitcoin wallet that can be used to store your Bitcoins. If you are looking for an alternative, there is a topic at the top of this board: [General] Bitcoin Wallets - Which, what, why? I suggest you check it out. There is also an extensive list of recommended Bitcoin wallets at: https://bitcoin.org/en/choose-your-wallet

The most important thing is to keep your private keys (or backup seed phrase) in a safe way.

Sarah Azhari

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Quote from: hosseinimr93 on December 01, 2022, 02:58:05 AM

Quote from: Sarah Azhari on December 01, 2022, 02:48:48 AM

Electrum is a wallet that you can make it offline, this is different like online wallet such as binance,

Binance isn't a wallet. It's an exchange.

A beginner or Newbie like OP (when entering first time in bitcoin) will assume exchange like Binance is a wallet that keeps his private key, I said that because I used to think so before.

Quote from: hosseinimr93 on December 01, 2022, 02:58:05 AM

Quote from: Sarah Azhari on December 01, 2022, 02:48:48 AM

Alternative wallet that you can use beside electrum is the bitcoin core wallet or Hardware wallet

I doubt bitcoin core is suitable for OP. For using bitcoin core, OP will have to download the full blockchain.
As already suggested, the best option for OP is electrum and I don't think he/she needs any alternative wallet.

It's not a big problem for OP to begin knowledge, bitcoin also has a dump private key that can he use it, so when if he doesn't want to download full blockchain, that private key he can import back to electrum.

Besides that, in here we have a lot of enough experience people to teach him when having a problem with it.

hosseinimr93

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Quote from: Sarah Azhari on December 01, 2022, 02:48:48 AM

Electrum is a wallet that you can make it offline, this is different like online wallet such as binance,

Binance isn't a wallet. It's an exchange.

Quote from: Sarah Azhari on December 01, 2022, 02:48:48 AM

Alternative wallet that you can use beside electrum is the bitcoin core wallet or Hardware wallet

I doubt bitcoin core is suitable for OP. For using bitcoin core, OP will have to download the full blockchain.
As already suggested, the best option for OP is electrum and I don't think he/she needs any alternative wallet.

Sarah Azhari

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Quote from: udayantha11 on December 01, 2022, 12:49:33 AM

Thanks for the explanations , everybody. Now i have understand. Anyway , Are there any alternative rather than Electrum wallet. Anything can happen in crypto. If electrum wallet hacked , then what else we can do?

Electrum is a wallet that you can make it offline, this is different like online wallet such as binance, So if another person out there has his electrum wallet got hacked, your electrum wallet is not affected.

Alternative wallet that you can use beside electrum is the bitcoin core wallet or Hardware wallet

hosseinimr93

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As already suggested in the previous posts, for spending fund from your paper wallet, you can import your private key into electrum. But note that you would defeat the purpose of the paper wallet if you import your private key in a device that has been connected to the internet.
The purpose of a cold storage is that your private key doesn't connect to the internet at all. Otherwise, your wallet is no longer a cold storage.

By the way, why don't you create a HD wallet instead of creating a single private key and a single address?

noorman0

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Quote from: udayantha11 on December 01, 2022, 12:49:33 AM

-snip-
Anyway , Are there any alternative rather than Electrum wallet. Anything can happen in crypto. If electrum wallet hacked , then what else we can do?

First explore what causes it. If it's due to private key leaks because you stored it somewhere easy to find, you're using a non-personal computer or something else is user carelessness, then there's no point looking for an alternative. The same mistake will be repeated.

Edwardard

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Quote from: udayantha11 on December 01, 2022, 12:13:09 AM

I have a question that

If i create a paper wallet , i got a public key and private key. so From using public key we can send BTC from binance. whenever i need to send BTC to binance from paper wallet , How can i do?

i am confused

You can send btc from a cold storage to binance/any other btc wallet without worrying too much about having your private keys exposed online with the help of your master pub key.
You just have to sign the transaction with an offline wallet then broadcast it online.
More detailed guide: https://electrum.readthedocs.io/en/latest/coldstorage.html

Quote from: udayantha11 on December 01, 2022, 12:49:33 AM

If electrum wallet hacked ,

Electrum is an open-sourced wallet. Only if your computer has any third party malware installed, it can hack/steal your keys not the wallet.

udayantha11

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Quote from: mk4 on December 01, 2022, 12:25:45 AM

Quote from: udayantha11 on December 01, 2022, 12:21:15 AM

Are there any big fees for it? i have downloaded exodus wallet , but there are asking 12pharse words. but we only have private key. so what is that differnace?

Use Electrum wallet (electrum.org) instead. More options for importing wallets, and it's a better Bitcoin wallet altogether despite the old school UI.

Quote from: hd49728 on December 01, 2022, 12:38:17 AM

Quote from: udayantha11 on December 01, 2022, 12:13:09 AM

If i create a paper wallet , i got a public key and private key. so From using public key we can send BTC from binance. whenever i need to send BTC to binance from paper wallet

On Binance, you don't own private key of your Bitcoin. They are a centralized exchange with custodial wallet provided to users.

I guess you want to send your BTC from your wallet to your Binance account, send BTC to Binance ?

You can import your private key to Electrum and send your BTC to your Binance account. Open your Binance account, choose Deposit and get your Deposit address on Binance with BTC network. Remember to choose BTC network or BTC (Segwit) because you will make a transaction on Bitcoin network.

In addition, when you make a transaction from your wallet, you use its private key to sign that transaction, not public key.

Thanks for the explanations , everybody. Now i have understand. Anyway , Are there any alternative rather than Electrum wallet. Anything can happen in crypto. If electrum wallet hacked , then what else we can do?

hd49728

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Quote from: udayantha11 on December 01, 2022, 12:13:09 AM

If i create a paper wallet , i got a public key and private key. so From using public key we can send BTC from binance. whenever i need to send BTC to binance from paper wallet

On Binance, you don't own private key of your Bitcoin. They are a centralized exchange with custodial wallet provided to users.

I guess you want to send your BTC from your wallet to your Binance account, send BTC to Binance ?

You can import your private key to Electrum and send your BTC to your Binance account. Open your Binance account, choose Deposit and get your Deposit address on Binance with BTC network. Remember to choose BTC network or BTC (Segwit) because you will make a transaction on Bitcoin network.

In addition, when you make a transaction from your wallet, you use its private key to sign that transaction, not public key.

TryNinja

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Quote from: udayantha11 on December 01, 2022, 12:21:15 AM

Are there any big fees for it?

Just the transaction fee which is required for every transaction. Since the Bitcoin network usage is quite low right now, you should only spend a few cents. My last transfer costed me less than 10c.

Quote from: udayantha11 on December 01, 2022, 12:21:15 AM

i have downloaded exodus wallet , but there are asking 12pharse words. but we only have private key. so what is that differnace?

Every Bitcoin address has a private key. If you have the private key, you can spend the coins of that address.

Some wallets manage multiple addresses (usually a new address is generated for every transaction you receive, for privacy reasons), so they give you what they call a "backup seed", a list of words which represents what takes to generate the same addresses. It's used for backing up your wallet.

Seed -> multiple private keys -> each private key -> each address

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Quote from: udayantha11 on December 01, 2022, 12:21:15 AM

Are there any big fees for it? i have downloaded exodus wallet , but there are asking 12pharse words. but we only have private key. so what is that differnace?

Use Electrum wallet (electrum.org) instead. More options for importing wallets, and it's a better Bitcoin wallet altogether despite the old school UI.

udayantha11

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Quote from: TryNinja on December 01, 2022, 12:17:22 AM

Quote from: udayantha11 on December 01, 2022, 12:13:09 AM

whenever i need to send BTC to binance from paper wallet , How can i do?

That's what your private key is for. You could, for example, just download Electrum[1] (bitcoin wallet), import the private-key[2] and send the coins to whoever you want.

Just make sure no one gets hold of your private key. Don't send them to anyone, be careful with fake popups ana ads, don't download random software, etc...

[1] https://electrum.org
[2] https://bitcoinelectrum.com/importing-your-private-keys-into-electrum

Are there any big fees for it? i have downloaded exodus wallet , but there are asking 12pharse words. but we only have private key. so what is that differnace?

TryNinja

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Quote from: udayantha11 on December 01, 2022, 12:13:09 AM

whenever i need to send BTC to binance from paper wallet , How can i do?

That's what your private key is for. You could, for example, just download Electrum[1] (bitcoin wallet), import the private-key[2] and send the coins to whoever you want.

Just make sure no one gets hold of your private key. Don't send them to anyone, be careful with fake popups and ads, don't download random software, etc...

[1] https://electrum.org
[2] https://bitcoinelectrum.com/importing-your-private-keys-into-electrum

udayantha11

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2023 would most likely be as bearish as 2022

I have a question that

If i create a paper wallet , i got a public key and private key. so From using public key we can send BTC from binance. whenever i need to send BTC to binance from paper wallet , How can i do?

i am confused

Topic: How to send BTC to BInance from cold storage (Read 289 times)