I was planning on scanning the QR code for the private key, dont have anything to test it out with though unfortunately, but I read that even doing this would create a watch only wallet? or is that just when youre setting it up that way w/import?
Do you have some more details on your later suggestion? Like a guide? Unless it is just as simple as scanning my QR PK, which is what I assumed was correct?
Thanks again so much for your help
If you're scanning your address, you'll generate a watch-only wallet. If you're scanning your private key, you'll be able to generate the correct wallet and be able to spend your funds. Take note, if you generate a watch-only wallet, you'll have a [watch-only] at the the tab's description at the top which is pretty obvious.
IIRC, BIP38 is not supported on Electrum. If you've encrypted your private key, you'll need to decrypt it to get a WIF private key before importing it. It has been quite a while since I've last used a paper wallet but I believe it hasn't changed.
Okay thanks for your response. I dont have encrypted keys. So I just need to set up a regular wallet, and then sweep the paper wallet into my electrum wallet?
When I try to create a new wallet importing private keys I get "Enter a list of Bitcoin addresses (this will create a watching-only wallet), or a list of private keys." So to clarify, they are saying if u enter a list of bitcoin addresses you will create a watch only wallet, but if I import the private keys, then it will NOT create a watch only wallet?
Just wasnt clear on that and read about ppls btc getting locked up like that, so i want to clarify if those two things are different, unfortunately I dont have anything to test it out with :/ So i obviously need to do it right the first time, lol.