Post
Topic
Board Electrum
Topic OP
Basic SWEEP questions
by
3robins
on 13/05/2025, 16:12:30 UTC
Hello,

Long time reader, first time poster. Got into BTC early, sold it early like many others, but have a little bit left I would like to move and have a few questions about sweeping it via Electrum...

1. I have an older paper wallet with address that starts with "1" and a passkey that starts with "5"

2. I downloaded the authentic Electrum and intend on sweeping for the obvious reasons below.

3. My first question is... When I created my new wallet in Electrum it shows approximately 30 addresses starting with "bc1" in the address tab, so I assume those are all my new addresses that can be used for different purposes within my single newly created Electrum wallet, correct?

4. Second question... When playing around with the sweep function, the window that pops up where I can enter my private key starting with "5" doesn't require a pre-script before it, correct?

5. Third question... In the address field at the bottom of the sweep window where the funds are being sent/swept to, Electrum defaults to the first address from my list of 30 addresses within my Electrum wallet, and since that is an online transaction I will be charged a fee, correct?

6. Fourth question... My intention is to send the money to a friend, so if I sweep the paper private key into my newly created wallet in Elecrum resulting in a transaction fee, then I would pay a second transaction fee to send the funds from my Electrum wallet to my friends address. So if I understand my research correctly, I could enter my friends wallet address (where I'm sweeping to) and the process would be simplified by moving the funds from my paper wallet to my friends wallet address using the sweep function resulting on only one transaction fee instead of two fees, correct?

7. Fifth question... When the sweep window auto populates the wallet address and defaults to the first address from my list of 30 addresses within my Electrum wallet (starts with "bc1") there is no pre-script before it, so my friends address that also starts with "bc1" shouldn't need a pre-script either, correct? The reason I ask this question is I was confused by this post by Abdussamad... https://bitcoinelectrum.com/sweeping-your-private-keys-into-electrum/#comment-90963

I plan on doing a test run first with a different old paper wallet that has a very small amount on it (.0025 = $250) before I attempt the slightly larger transaction.

Any assistance is greatly appreciated, thank you.