Withdrawing from paper - best practice - page 2.

bitmover

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Quote from: PomskyFluff on September 29, 2024, 04:59:54 PM

Hi everybody, hope you're all well.

Apologies for starting a new topic, but I'd appreciate your thoughts/advice on the best and safest way to withdraw from paper wallet. Is Electrum wallet the way to go?

Thanks in advance.

Just remember that once you send your coins to electrum , you shouldn't use that paper wallet anymore and their private keys were exposed.

You will need to create another paper wallet and send uour remnaining bitcoins to it.

I strongly advice that you buy a paper wallet.

ChiBitCTy

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I’ve always used either Coinomi or ballet wallets for removing coins from paper wallets. It’s pretty easy overall man’s doesn’t take a lot of practice to learn how. I would i recommend watching maybe some how to videos before doing so just to be safe and to make sure you know what you’re doing. Just be careful and you should be finez

avikz

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Quote from: PomskyFluff on September 29, 2024, 04:59:54 PM

Hi everybody, hope you're all well.

Apologies for starting a new topic, but I'd appreciate your thoughts/advice on the best and safest way to withdraw from paper wallet. Is Electrum wallet the way to go?

Thanks in advance.

Electrum is widely used by community members. I am sure a lot of people will recommend this wallet. But no one can tell you which one is the safest. It if you run out of luck, all wallets can be hacked by the hideous scammers.

Blackboss has shared some nice resources which are useful. Also ensure to download Electrum from the official website only. You also will need to keep it up to date as and when a new version releases.

BlackBoss_

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Quote from: PomskyFluff on September 29, 2024, 04:59:54 PM

Apologies for starting a new topic, but I'd appreciate your thoughts/advice on the best and safest way to withdraw from paper wallet. Is Electrum wallet the way to go?

The guide shared by BitMaxz can help OP to make a transaction from that paper wallet with Electrum. After that, OP have to consider to stop using that paper wallet because it's unsafe.

Switching to Electrum wallet is good way to go, as it is a SPV wallet and does not require big storage space like Bitcoin Core. OP can create a new wallet with Electrum (don't import the private key from paper wallet to Electrum, because if there were backdoors in the paper wallet creating tool, OP can lose coins later).

Make sure to back up Electrum wallet, test it before funding it with bitcoin from the paper wallet.

How to back up a seed phrase?
[GUIDE] How to Safely Download and Verify Electrum
The paranoid user's security guide for using Electrum safely.

BitMaxz

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It is much safer to spend your BTC from your paper wallet on Electrum in an offline transaction if you know the public address of your wallet. You need two devices here to make sure you can make the safer way of spending your funds from your paper wallet.

Take note it is safer than sweeping it to an online device.

If you want a guide, you can check this one "How to spend from an offline paper wallet using Electrum"

Ambatman

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I don't know about safest but I know Electrum is quite save.
If you transferring from a paper wallet, you can choose to do so by installing the Electrum in a device that is not connected to the internet to improve security.
After, sweep rather than importing since sweeping transfers the balance to another address in the electrum wallet to prevent a situation where the Paper wallet get compromised.
https://bitcoinelectrum.com/sweeping-your-private-keys-into-electrum/#:~:text=To
Steps to sweep in Electrum.

Charles-Tim

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You can still make the paper wallet a cold wallet and spend from it. Read this guide: https://electrum.readthedocs.io/en/latest/coldstorage.html

If it is a small amount of money, you can just import the private key on an online Electrum wallet. If it is huge amount, use the guide above.

goldkingcoiner

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Quote from: PomskyFluff on September 29, 2024, 04:59:54 PM

Hi everybody, hope you're all well.

Apologies for starting a new topic, but I'd appreciate your thoughts/advice on the best and safest way to withdraw from paper wallet. Is Electrum wallet the way to go?

Thanks in advance.

Electrum is great. Many of us here on Bitcointalk use it. Where do you want to withdraw it? Into a different wallet?

Make sure to download it from the official website and not some third party sources.

PomskyFluff

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Hi everybody, hope you're all well.

Apologies for starting a new topic, but I'd appreciate your thoughts/advice on the best and safest way to withdraw from paper wallet. Is Electrum wallet the way to go?

Thanks in advance.

Topic: Withdrawing from paper - best practice - page 2. (Read 352 times)