May 27, · You can use any bitcoin paper wallet generator online to get started. In some cases, ATMs will also include an option to generate one. In some cases, ATMs will also include an option to generate one. The site will create your wallet with the corresponding QR codes and keys and once it’s been generated, your data is wiped from the site. Redeeming Bitcoin Cash from a paper wallet is easy. Here’s how: If you don’t already have one, download a wallet app that supports Bitcoin Cash. Use the app to scan the QR code called “private key” on your paper wallet. The funds will then automatically move from the paper wallet to your digital wallet. Choosing your wallet app. As a rule of thumb, going for an official currency’s wallet is always a good option. To deposit money in a bitcoin wallet, copy-paste one of your bitcoin-addresses (you can generate as many as you want) from your wallet to the transaction form.
How to deposit bitcoin from paper walletAdding and Withdrawing Bitcoins from your Paper Wallet
Virtually any wallet software or Bitcoin service that includes a "import private key" or "spend from cold storage" feature will accept the private key hidden beneath the folds of your paper wallet.
For example, Coinbase. In this case, it is recommended that you use software such as Mycelium Android or Bread IOS to sweep your paper wallet and send the funds to your Coinbase. Not many bitcoin wallet applications or web services are able to directly import BIP38 password-protected private keys.
In this case, you will have to use the "Validate" feature on the generator to extract the unencrypted Wallet Import Format WIF key as an intermediate step before sweeping the balance. Let's say you have some Bitcoin on paper wallet and you want to sell it on Coinbase.
Here's how you might accomplish that:. Depending on when your paper wallet was funded, it may hold cryptocurrency balances besides your Bitcoin.
This may result in significant added value to your paper wallet. How do I add bitcoins to a paper wallet? How do I withdraw them? How to transfer bitcoins to a paper wallet Open your live wallet software e. In this case, it is recommended that you use software such as Mycelium Android or Bread IOS to sweep your paper wallet and send the funds to your Coinbase Important note for BIPencrypted paper wallets Not many bitcoin wallet applications or web services are able to directly import BIP38 password-protected private keys.
Example of spending from a paper wallet Let's say you have some Bitcoin on paper wallet and you want to sell it on Coinbase. Here's how you might accomplish that: Install and set up a trustworthy Bitcoin wallet on your phone, for example using Mycelium for Android or Bread Wallet for IOS Now, using a different device e.
As of December, the following apps support importing a private key from a paper wallet: Blockchain. Follow the instructions provided on the screen of your app. Write down your back up phrase on a piece of paper, not on a computer. This is a crucial step! The backup phrase is not the same as the password for your app. Write it on paper with a pen. Do not write or store the phrase on any computer or phone. Computer hackers can easily steal your bitcoins if they find your phrase.
Tap the menu button to start the paper wallet import process. This differs on each app you are using. If you are using Blockchain. This is instructing the app that you want to import another address. Scan the QR code of your paper wallet's private key with your phone camera. The private key is the collection of around 60 random letters and numbers shown by the QR code. Some paper wallets designate the private key as the "secret" side of the wallet.
Press Transfer Funds. This initiates the process of bringing your paper wallet into your app. If you stop here, your Blockchain app will have access to your paper wallet funds, but the funds will continue to remain on your paper wallet as well. This state isn't secure, so proceed to the next step. Tap Send. This step will cost you a small amount of bitcoin to pay the bitcoin miners for doing the transaction for you. You now have all the contents of your paper wallet on your phone. From here, you can easily send any portion of your bitcoin to any bitcoin address in the world.
If you want to send bitcoin to another location, tap send from your app and send the coin to any address you would like. Most bitcoin-related websites have user friendly interfaces for creating these. Yes No. Not Helpful 1 Helpful 0. Unanswered Questions. I'm having trouble transferring a paper wallet transaction into my blockchain wallet.