How To

How to Send Bitcoin from a Paper Wallet?

Your paper wallet is nothing less than your treasured piggy bank in which you store coins. Add as much money as you want, but import those only once.

Transfer Bitcoin to Your Paper Wallet

Open your wallet software such as Bread, Mycelium or Trezor or your online wallet such as Coinbase and transfer funds from the live wallet to your public address as specified in the paper wallet. Once you have transferred the funds, look out for the public key on to check the progress of the transaction.

Spend/Withdraw Bitcoin Using Your Paper Wallet

One gets access to digital assets by ‘importing’ the paper wallet. This successfully transfers the cryptocurrency to the live wallet from the paper wallet or to an exchange platform. You ought to import the entire balance, as it is not really advisable to attempt to spend only a share of the assets in your paper wallet.
Fundamentally, a Bitcoin service or a wallet software which incorporates a "spend from cold storage" or "import private key" feature will acknowledge the private key concealed in your paper wallet. Nonetheless, not all the wallets come with such a feature. For instance, can't directly import paper wallets. In this situation, it is prescribed that you utilize a wallet software, for example, Bread (IOS) or Mycelium (Android) to import the paper wallet and transfer the assets to the Coinbase wallet.

BIP38-encoded Paper Wallets

Very few Bitcoin wallet apps or online services can straightforwardly sweep BIP38 password-secured private keys. If this is the situation, then you should utilize the "Validate" option on the generator to disengage the decoded Wallet Import Format (WIF) key as a transitional phase before importing the balance.

If you are using Mycelium, you will have the capacity to send your assets specifically to your Coinbase address with one single transaction. If it is the Bread wallet that you are using, you will first sweep the assets into Bread, and afterward you will have the capacity to send your assets to Coinbase.

Free Cryptocurrency

Based on the time your paper wallet was financed, it might hold digital currency other than your Bitcoin. This may bring about an added advantage to your paper wallet. All paper wallets financed prior to October 2017 must have held 3 important digital assets apart from Bitcoin, adding up to an extra $2,500 USD of worth for each Bitcoin.

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