I read the below lines and a bit confused. Please help:
although you can deposit funds into a paper wallet several times, you should withdraw all funds only once, spending everything.
This is because in the process of unlocking and spending funds some wallets might generate a change address if you spend less than the whole amount. additionally, if the computer you use to sign the transaction is compromised, you risk exposing the private key.
If transferring all funds every-time is required. Then, if I want to transfer X amount of funds to someone then I need to transfer the remaining funds to some other address. That means I am paying transaction fee twice.
If I forget to transfer the remaining funds to other address can it be easily hacked?
Won't there be a confusion as in which of my address is holding the account if, this process happens regularly?
How fixable is it to use paper wallet in this case?
Paper wallet is nothing else than simple wallet. It just gives you Private key and wallet address in paper (PDF or any other mode).
If transferring all funds every-time is required. Then, if I want to transfer X amount of funds to someone then I need to transfer the remaining funds to some other address. That means I am paying transaction fee twice.
I will explain you with example,
If X user is sending 1 BTC to user Y and paying 0.001 BTC as fees
and If same user (X) is sending 1 BTC again to same user (Y) and here you have to pay fee of 0.001 BTC again.
Everytime you send BTC you have to Pay fee everytime.
If I forget to transfer the remaining funds to other address can it be easily hacked?
Won't there be a confusion as in which of my address is holding the account if, this process happens regularly?
How fixable is it to use paper wallet in this case?
Nothing is going to get hacked till your Device not get hacked. Paper wallet is in Either in PDF or you can download that on Paper. .
The process of sending BTC is same as in any other wallet.
Enter receivers wallet address
Enter Amount
Click on Send.
You are sending the amount which you want only. If your wallet has 1 BTC and you are sending 0.4 BTC to user X then he will receive 0.
4 BTC only and your wallet will have 0.6 BTC.
How to create Paper wallet
Go on
BitAddress.orgMove your mouse around on your screen.
And after moving mouse on screen after few seconds. And after that you can see below screen:
Above Private Key you can find Print option click on that and save the your Private Key