Post
Topic
Board Beginners & Help
Re: How to send BTC to BInance from cold storage
by
udayantha11
on 01/12/2022, 05:49:33 UTC
Are there any big fees for it? i have downloaded exodus wallet , but there are asking 12pharse words. but we only have private key. so what is that differnace?

Use Electrum wallet (electrum.org) instead. More options for importing wallets, and it's a better Bitcoin wallet altogether despite the old school UI.
If i create a paper wallet , i got a public key and private key. so From using  public key we can send BTC from binance. whenever i need to send BTC to binance from  paper wallet
On Binance, you don't own private key of your Bitcoin. They are a centralized exchange with custodial wallet provided to users.

I guess you want to send your BTC from your wallet to your Binance account, send BTC to Binance ?

You can import your private key to Electrum and send your BTC to your Binance account. Open your Binance account, choose Deposit and get your Deposit address on Binance with BTC network. Remember to choose BTC network or BTC (Segwit) because you will make a transaction on Bitcoin network.

In addition, when you make a transaction from your wallet, you use its private key to sign that transaction, not public key.


Thanks for the explanations , everybody. Now i have understand. Anyway , Are there any alternative rather than Electrum wallet. Anything can happen in crypto. If electrum wallet hacked , then what else we can do?