So this is what I've figured:
- Download bitaddress.org and copy to offline computer. Generate private key, address offline from it. Make paper wallet
- Send btc to this address
- Setup Electrum wallet with a seed on offline and online computer.
- SWEEP the key into OFFLINE Electrum wallet. This will not import the key, but transfer the bitcoins from that address to the electrum wallet address.
- Sign an offline transaction made by Electrum (to send some btc to a exchange)
- Execute the signed transaction on Online computer Electrum
Am I doing anything incorrect?
In the SWEEP the key into OFFLINE Electrum wallet step, since the wallet is offline, Sweep won't happen, right? What should I do then?
you are confusing SWEEP with IMPORT.
these are two different functions.
- you sweep the private key if you want to have them in your wallet. in this case you need to broadcast the transaction for it to complete.
- you import the private key in your wallet if you want to spend them for example if you want to send your funds to an exchange to sell.
for sweeping you use an electrum wallet that was generated with a seed and you have a back up of that seed.
for importing you create a new wallet and use your private key to make the wallet. the wiki has these steps with pictures.