Post
Topic
Board Bitcoin Technical Support
Merits 15 from 5 users
Re: Looking for advice: gifting a paper wallet
by
mocacinno
on 13/07/2021, 13:02:03 UTC
⭐ Merited by Welsh (6) ,bitmover (3) ,DdmrDdmr (3) ,BrewMaster (2) ,ETFbitcoin (1)
A friend of mine recently had his first child and we are all going to visit and bring gifts. I want to gift $10 in btc not to be accessed until his kid is an adult, by which time it will be worth a lot more or nothing at all.

I'm trying to figure out the best way to do this so that in 20 years the btc can still be recovered. Do I make a wallet, write down the seed phrase, send in some bitcoin and then destroy the wallet? Or do I write down the private key for the specific address where I send the bitcoin to? And which wallet? Electrum doesn't use BIP39, but a BIP39 seed phrase isn't guaranteed to work with every BIP39 compatible wallet either... What about derivation paths?
Is there a secure way to generate a paper wallet offline with a QR code and everything?

I have no experience with paper wallets so any advice is welcome.


First of all: this might be interesting to you: https://en.bitcoin.it/wiki/Timelock