Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Withdrawing from paper - best practice
by
BlackBoss_
on 30/09/2024, 03:37:45 UTC
⭐ Merited by BitMaxz (1)
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.