Thanks for the replies!
Right. If you sweep the private key and then make another transaction, you will have to pay fee for two transactions.
Instead, you can import your private key and then make the transaction. In this way, you will pay fee for only one transaction.
From my limited understanding I was trying to avoid using Import feature because it would keep the original paper address and I would loose/sacrifice the original seed phrase that was created with it a decade ago, therefore if something goes wrong I cannot recover.
Note that if you sweep your private key, you make a transaction and send the fund from your paper wallet to a new wallet, but if you import your private key, you don't make any transaction and just gain access to the fund in a new wallet.
"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?"I have never tested that before, but I don't think you can enter an address that doesn't belong to your own wallet there. Someone correct me if I am wrong, please.
That is the big question, but that is the way I interpret it as Abdussamad explained it here in the last sentence...
https://bitcoinelectrum.com/sweeping-your-private-keys-into-electrum/#comment-366The other way is to create a watch-only wallet with your friend's address and then sweep the private key.
I have not heard of that method before, so I will have to do more research on that one.