Store bitcoins on your own tamper-resistant paper wallet
How do I add bitcoins to a paper wallet? How do I withdraw them?
Treat a paper wallet like a piggy bank: Add funds as often as you like, but only import (or "sweep") your funds once.
How to transfer bitcoins to a paper wallet
Open your live wallet software (e.g. Mycelium, Bread, Trezor) or web-based wallet (e.g. blockchain.info, coinbase.com) and send funds from your live wallet to the public address shown on your paper wallet. After transferring the funds, search for your public key on blockchain.info to see the progress of your transaction.
How to withdraw/spend bitcoins using a paper wallet
The way you will access your funds will be to "import" or "sweep" your paper wallet. This effectively transfers the coins from your paper wallet to a live wallet (e.g. Mycelium or Trezor) or to an exchange service (e.g. Coinbase.com). You should always sweep the complete balance, as it’s generally not safe to try to spend just a portion of the funds on your paper wallet.
Virtually any wallet software or Bitcoin service that includes a "import private key" or "spend from cold storage" feature will accept the private key hidden beneath the folds of your paper wallet. However, not 100% of wallets have this feature. For example, Coinbase.com cannot directly sweep your paper wallet. In this case, it is recommended that you use software such as Mycelium (Android) or Bread (IOS) to sweep your paper wallet and send the funds to your Coinbase
Important note for BIP38-encrypted paper wallets
Not many bitcoin wallet applications or web services are able to directly import BIP38 password-protected private keys. In this case, you will have to use the "Validate" feature on the generator to extract the unencrypted Wallet Import Format (WIF) key as an intermediate step before sweeping the balance.
Example of spending from a paper wallet
Let’s say you have some Bitcoin on paper wallet and you want to sell it on Coinbase. Here’s how you might accomplish that:
Install and set up a trustworthy Bitcoin wallet on your phone, for example using Mycelium (for Andro >Depending on when your paper wallet was funded, it may hold cryptocurrency balances besides your Bitcoin. This may result in significant added value to your paper wallet. At the time of this writing (January 2018) any paper wallet funded before October 2017 will have been gifted up to three valuable cryptocurrencies other than Bitcoin, amounting to an additional $2,500 USD of value per Bitcoin.
Frequently Asked Questions
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Here Is How To Transfer Bitcoins From A Paper Wallet To Ledger Wallet
With the popularity of hardware wallets reaching new heights, many are now moving from paper wallets to Ledger Nano S-like hardware wallets.
And why not! Hardware wallets are more superior in terms of security of your bitcoins and also more user-friendly than paper wallets.
For the uninitiated, hardware wallets are hardware devices that look similar to a flash drive and are used to store your bitcoins, whereas a paper wallet is a piece of paper with a pair of public and private keys printed on it.
Paper wallets were more popular in the early crypto days as there were no hardware wallets. But now with a plethora of options in hardware wallets, it is stupid to risk your coins on a paper. (We like Ledger Nano S wallet the most as it has everything one may need!!)
Many investors have now started to understand this point now and want to migrate from paper wallets to hardware wallets like the Nano S. But the problem is, they get stuck when they try to migrate because there is no direct way to do so.
Confused? Let me explain.
There is no direct way to transfer your bitcoins from a paper wallet to ledger wallet and that’s why many face difficulty.
But there is an indirect way by which you can do the same and that’s what I am here to share with you today.
Sending BTC From Paper Wallet To Ledger Wallet
Note: One cannot send BTC directly from a paper wallet to Ledger as of now. For this, you need to use a third intermediate software/mobile wallet and then send your BTC to Ledger. (In the future you can expect an inbuilt functionality in Ledger Nano S to do so directly).
Step #1. Install a mobile wallet on your mobile if you don’t have it. I installed the Coinomi wallet on my Android smartphone for this tutorial.
Step #2. Create a new wallet with Conomi.
Note: Keep your seed words very safe while setting-up your new wallet for the first time.
Step #3. Now go to ‘Bitcoin’ wallet in Coinomi’s interface, which will look like:
Step #4. After clicking on ‘Bitcoin’, you will see this screen.
Step #5. Now click on the three dots as shown in the image above to see the screen below.
Step #6. Click on the ‘Sweep wallet’ option as shown in the above image to see this:
Step #7. Now select ‘Bitcoin’ in ‘Receive with’ dropdown and scan the private keys from your paper wallet.
Note: Coinomi supports only WIF, BIP38, & mini private key formats.
Step #8. Once this is done and your coins are imported (swept), they will be reflected in your Coinomi wallet.
Remember: It is always advised to sweep your paper wallet into a software wallet instead of importing it. Here are the detailed reasons why to do so: Highlighting The Difference Between Sweeping & Importing Private Keys.
Now your coins are in Coinomi and you need to transfer them to Ledger Nano S. For this, you need to get hold of Ledger Nano’s valid Bitcoin address on which you want to receive your bitcoins. For this, follow the steps below:
Step #9. Launch the Bitcoin Ledger Wallet application on your device.
Step #10. Plug in the Ledger Nano S to your device (PC/mobile) and unlock it using your PIN code. Remember: Don’t share this PIN with anyone because using this PIN, anyone can get into your Ledger Nano S if they have access to the device.
Step #11. Once your Ledger device is connected, open your Bitcoin application on the device. You will be prompted to select Bitcoin or Bitcoin cash. Select ‘Bitcoin’.
Step #12. After you have selected ‘Bitcoin’, the app will prompt you to select ‘Legacy’ or ‘Segwit’ types of addresses. In this case, you need to select ‘Legacy’ if you want your BTC on ‘Legacy’ addresses that start with digit ‘1’ or ‘Segwit’ if you want your BTC on ‘Segwit’ addresses that start with ‘3’.
In this case, I am selecting segwit because using segwit has many benefits that you can read here. Also, to avail these benefits you should migrate to segwit with help of this step by step guide.
Step #13. Click on ‘Segwit’. The sync should take a few seconds to take you to the Segwit blockchain.
Step #14. After the sync, you will be able to see this screen on your wallet. Here you will see your accounts, balance, send, receive and settings options.
Step #15. Click ‘Receive’ as shown in the image above to see this screen where a pop-up will prompt you to select your ‘Account To Credit’. If you use Ledger Nano S for the first time it will show you only one account.
Step #16. Now click on ‘Display Address On Device’ option as shown above. If you look closely, there is a note that says: only receive funds on this address if it matches the one displayed on your device.
For this, please verify if the address shown in your Ledger app and the address shown on your actual hardware device is same. Once both are verified and matched you are good to go ahead.
Step #17. Once addresses are matched, it means the address shown is safe to receive BTC.
Step #18. Now you can scan the QR code in step #16 from your Coinomi mobile wallet or copy-paste the address shown in the ledger app where you want to receive your bitcoins.
Step # 11. Now you need to enter the relevant details in the below-shown interface of the Coinomi wallet. Once you have put the details and just hit send from your wallet and wait for the transaction to reflect on Blockchain explorer.
Conclusion: Transferring Bitcoin from a Paper Wallet
Always remember that you should wait for six confirmations on the blockchain to consider a transaction successful.
And lastly, if you haven’t started using Ledger Nano S then you should use it as it has many useful features that can make management of multiple cryptocurrencies hassle free.
Always buy Ledger Nano S from the official website and thoroughly learn how to set up and use Ledger Nano S through our exclusive video tutorial series on the same.
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How do I send Bitcoin in paper wallet to other person?
I’m new to bitcoin. Can you tell me step by step how do I send Bitcoin in paper wallet to other person.
4 Answers 4
Spending money from a paper wallet is the hardest part. Making the wallets themselves is easy but spending the coins is harder than it should be. Here’s a guide on how to do it safely:
Create a NEW wallet on blockchain.info. Keep in mind that you will only use this wallet for the express purpose of emptying your paper wallet. You will not reuse the paper wallet and you will not reuse the blockchain.info wallet.
Log into your blockchain.info wallet and go to Import/Export. You will get a warning about advanced usage. Agree to that to make it go away.
Use the import private key option or the scan with webcam option to import your paper wallet private key.
Once you’ve done the import you must spend the entire balance. Send what you need to an address owned by the other person and the rest to an address on your desktop client. Don’t keep any balance in your blockchain.info wallet.
You might ask why go through the trouble to do all this. That is because sometimes if you import a private key it might be reused by the wallet app/web service and change is sent back to it. You want to avoid that because if you assume you’ve spent all the coins in the private key and then you make the private key public and change is sent to it somebody could steal your coins. So to avoid all that you import into a temporary blockchain.info wallet and spend all the coins in one go.
First you will need to import the paper wallet private key (the secret part) into a software wallet.
- Select the Accounts tab.
- Tap the three dots menu and pick Cold Storage.
- Tap QR Code and scan the paper wallet private key.
With the Blockain.info app (Android, IOS):
- On the sidemenu tap Addresses:
- Tap the Add button ( + ).
- Select Import Address and scan the QR Code of the private key.
❌ Important: Once the coins are moved from the paper wallet to your software wallet, make sure you never ever use the paper wallet address again, on purpose or by accident. Don’t try to only transfer part of the funds from the paper wallet — most likely you’ll lose the rest (most wallets don’t allow partial transfers anyway).
Once you have transferred the assets from the paper wallet to your software wallet, funds can be transferred to/from another person using the Send/Receive options in the app.
Transfer ltc from paper wallet to coinbase
So from what ive read on here. Its not really a good idea to keep my litecoins on coinbase. So i made a paper wallet and transferred my litecoins into it. How can i put then back on coinbase when i decide to sell? Thanks in advance!
I have always used Litevault.net to import private keys. Then send off litevault directly to coinbase.
If you have the private key and address, import them into electrum LTC.
Or if you have the private key in QR form, you can scan it into loafwallet.
Couldnt get loaf wallet to work. Got an error when i scanned it. Is there a reason why thats happening. I used liteaddress.org to generate the wallet.
I’m not sure. It should work. Just in case, are you sure you’re scanning the priv key and not the address?
Have you tried importing via electrum LTC?
Have not tried electrum yet. I liked loafwallet because its mobile. Im scanning the private key. I even scanned the public one for the hell of it. It says the private key is not valid.
What are your thoughts on a Litecoin Core Wallet. Should I transfer them from there to electrum LTC? Or does it not matter?
Doesn’t matter. Litecoin Core is great for Litecoin because it supports the Network as a full node if you keep it running.
It’s just not suggested for newcomer’s because it takes a while to sync.
Gotcha, yeah its been syncing for almost an hour now and its at 2%, how long should it take 24 hours? Just curious, no rush of course.
The sidebar has a bootstrap you can use to speed it up. It could take a while. Not sure how long. More than a day though.
Ah I see, If you don’t mind can you send me a link on using the bootstrap?
Go to the sidebar->wallets-> and it’s the first one.
Thanks appreciate it man!
Getting an error 502 on the site. This is one I tried earlier I figured there might be another site that you were referring to. It’s alright I’ll just let it sync for the remainder of its time.
Oh that’s unfortunate. I didn’t realize that.
Just copy and paste your private key into wallet and send it from there. Wallets like JAXX, Loafwallet, Electrum LTC or litevault.net are one of the most popular
I trust CB more than other third parties. Mainly because it’s here in America and large companies are always being audited by some large public entity.
same reason i keep it in the coinbase vault (not wallet). and people always complaining about fees. if you’re in it for the long run and you do everything lawfully theres nothing to be worried about! fees/taxes shouldn’t matter if you’re still making a shit load of money by hodl!!
If you don’t mind me asking. About how much are you keeping with coinbase??
How To Make A Litecoin Paper Wallet & How To Use It?
Litecoin cryptocurrency, if you don’t know is one of the pioneers in the cryptosphere.
Litecoin simply came to the party in 2011 with few improvements over Bitcoin, and since then it has been accepted by the market.
Being so long in the market naturally develops enough infrastructure, and that’s what has happened with Litecoin too. Now, you have many Litecoin wallets to choose from.
Amongst these wallets, paper wallets are the easiest and cost effective to make. And I have shared my perspective in my previous post on different types of cryptocurrency wallets too.
That’s why today we are going to talk extensively about Litecoin paper wallets and see how you can make one for yourself to store your Litecoin (LTC).
DIY GU >First of all, to make and use a Litecoin paper wallet you need the following things:
- Printer with ink
- Internet Acess
- Smartphone with a QR code reader
- Litecoin (LTC) in software or mobile wallet
Once you have assembled all these things, you are ready to go and make a Litecoin paper wallet for yourself. So let’s get started with the simple steps:
Step #1. Open your web browser and go to liteaddress.org (Litecoin paper wallet generator)
Step #2. Start moving your mouse pointer here and there on the home page of wallet to generate sufficient degree of randomness to create wallet addresses and keys.
Step #3. Keep doing this untill the randomness number goes to ‘0‘. You can see the number decreasing as you keep moving the pointer.
Note: Alternatively, instead of moving your pointer you can also type in random characters in the textbox shown on the home screen. This will also generate enough randomness to make a safe Litecoin paper wallet.
Step #4. As your randomness number reaches ‘0‘, you will see this screen where you ‘Single Paper Wallet’ is ready.
Step #5. Now, click on print and you will able to save a PDF version of this paper wallet.
Step #6. If you want to have multiple paper wallets that exactly resembles currency bills, click on the ‘Paper Wallet’ option as shown below. You will be able to see 3 LTC paper wallets here, which can be downloaded and printed later.
Step #7. If you want only one LTC paper wallet that resembles like paper bills, type ‘1’ in ‘Addresses to generate’ field and click Generate.
Step #8. Now, click print to get a downloadable PDF formate which you can print.
Step #9. Once you have taken the print, cut the unnecessary portion with scissors, and you will get your ready to use LTC paper wallet.
Note: You can do the same process of generating an LTC paper wallet by being offline because the paper wallet is a client-side wallet generator that works in an offline environment too. This way you will also keep your private keys safe. Also, this Litecoin paper wallet generator is available in 11 languages so that you can choose amongst the language options too.
So this is how your paper wallet will look, and you will find the following essential details on it:
- Your public address
- Your private key
- Private key QR
- Public address QR
- Notes/amount area
HOW TO USE Litecoin PAPER WALLET?
Now, once you have made the paper wallet, the next thing is to use these paper wallets.
- Scan the LTC address QR code using QR code scanner of your mobile wallet.
- Once the QR code is scanned, transfer litecoins to this address.
- Check on the Litecoin explorer; once you have enough confirmations, your paper wallet will be loaded.
- Now, whenever you want to spend LTC from this wallet, you can scan the LTC private keys shown on the right side of the paper wallet. This way Litecoin paper wallet import will be done, and you will be able to spend the LTC using your mobile/software wallet.
- To check Litecoin paper wallet balance, you need to put in your LTC address in a Litecoin explorer, and you will be able to check the balance.
- Lastly, you can write the amount of LTC you have sent to this paper wallet in the Litecoin amount field so that you can recall later who much is stored on this wallet.
This way you can easily make the best Litecoin paper wallet to store your Litecoin cryptocurrency safely. This is also one of the cheapest way to make Litecoin cold wallet but I will not recommend this method of LTC storage for everyone.
That’s because paper wallets are for experts, if you don’t understand the significance of private keys and don’t know how to keep paper wallets secure then probably this is not for you.
By using paper wallets, it is easy to get exposed and not even realize that your funds are compromised. In past paper wallet users have lost their funds just because someone was able to click a picture of their paper wallet.
Lastly, we also believe that paper wallets were a thing of the past when there was no sufficient infrastructure or alternatives to store your cryptocurrencies.
But nowadays you have secure and safe paper wallet alternatives like Ledger Nano S and Trezor that support Litecoin like currencies. That’s why we think hardware wallets are a better option than paper wallets.
But in any case, if you are comfortable with paper wallets and know how to use them safely, you can very well build one for yourself using this guide.
I hope this guide was useful and if it was?
Please do share it with your friends and family members who are looking to build a Litecoin paper wallet for themselves.
And in my next article, I will share how one can export and import private keys using a paper wallet.
Untill that time keep following TheMoneyMongers for update information on crypto revolution!!
Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.