Question. Are paper wallets reloadable?

odolvlobo

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Quote from: commandrix on June 14, 2014, 01:09:28 PM

That's true, but my friend is asking me, "Can they be used like a debit card, or maybe my Starbucks card that I can add more money to when it gets low?"

Yes, you can do that, but it seems inconvenient. The purpose of a paper wallet is to make it difficult for anyone (including you) to spend the coins. In order to spend the coins in a paper wallet you have to import it into a regular wallet first. It is better to think of a paper wallet as a savings account.

franky1

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think of a paper wallet like a paypal account. the public key is the username(email) the private key is the password.

tell all your friends the public key (paypal username) so that they can send you funds, as much as they like and as many times as they like. but never tell anyone the private key (paypal password), or you'll soon find out those you have told would move funds out.

Gianluca95

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Reputation first.

Paper wallet is a normal bitcoin address, like normal bitcoin address

Only difference is that Paper wallet is offline, therefore is much safe

newIndia

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Quote from: RichG on June 14, 2014, 01:14:41 PM

Quote from: powerbitcoin on June 14, 2014, 01:12:02 PM

They are, but you'd have to know the private key as well to reload it.

If you want to to have something that you're gonna be spending a lot, consider opening an account at coinbase.com - its like a checking account for bitcoins! Paper wallets are more of like a savings account, not something you would spend all the time. You could just put a little money into your coinbase account, and put your savings into a paper wallet.

No. You only need the public key (address) to reload the wallet.

Depends what he mean by reload. If reload means adding btc then only the address is required. If reload mean loading the address to some bitcoin client to spend it partially, then private key is required.

RichG

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Quote from: powerbitcoin on June 14, 2014, 01:12:02 PM

They are, but you'd have to know the private key as well to reload it.

If you want to to have something that you're gonna be spending a lot, consider opening an account at coinbase.com - its like a checking account for bitcoins! Paper wallets are more of like a savings account, not something you would spend all the time. You could just put a little money into your coinbase account, and put your savings into a paper wallet.

No. You only need the public key (address) to reload the wallet.

RichG

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Quote from: commandrix on June 14, 2014, 01:09:28 PM

That's true, but my friend is asking me, "Can they be used like a debit card, or maybe my Starbucks card that I can add more money to when it gets low?"

It is a Bitcoin address. But, there is a trust factor involved with paper wallets. Once the private key has been imported to a client, this trust is gone.

In short: Yes, you can reload them, but no one would accept it, since the key has been added to a client.

powerbitcoin

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They are, but you'd have to know the private key as well to reload it.

If you want to to have something that you're gonna be spending a lot, consider opening an account at coinbase.com - its like a checking account for bitcoins! Paper wallets are more of like a savings account, not something you would spend all the time. You could just put a little money into your coinbase account, and put your savings into a paper wallet.

joshraban76

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Quote from: commandrix on June 14, 2014, 01:09:28 PM

That's true, but my friend is asking me, "Can they be used like a debit card, or maybe my Starbucks card that I can add more money to when it gets low?"

Since they are normal bitcoin address, then it reloadable.

I can't find why it can't be used like this at any place which accept BTC.

commandrix

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That's true, but my friend is asking me, "Can they be used like a debit card, or maybe my Starbucks card that I can add more money to when it gets low?"

cp1

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Stop using branwallets

They're just a normal bitcoin address. The point of a paper wallet is that it's secret. If you spend it then it's not a secret anymore so reloading it would defeat the purpose.

commandrix

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Just curious, because I'd like to be able to explain to a friend who is a Bitcoin noob about paper wallets.

Topic: Question. Are paper wallets reloadable? (Read 941 times)