Sending bitcoins from a paper wallet can be summed up in a couple of steps: Sweep (or import) the private key of the paper wallet into the software wallet. Send the bitcoins using the software wallet to the recipient’s address. The bitcoins you’re sending need to be broadcast as a . 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. Press Deposit Bitcoin Scan, copy, or share your Cash App Bitcoin address with an external wallet Confirm with your PIN or Touch ID Bitcoin withdrawals and deposits must be enabled to get started.
How to deposit bitcoin from paper walletHow do we deposit money in a Bitcoin wallet? - Quora
After creating an account and logging in, use the search function to find a card. Click the card, then select the Buy for Yourself option. Then click the Buy Now button. Gyft presents two payment processor options: Coinbase and BitPay. Either option works — BitPay will be used in this example.
A payment invoice will appear showing the dollar and bitcoin amount of your purchase. The exchange rate is calculated automatically.
Although you can cancel and retry at any time, less remaining time increases the risks that your payment will become stuck. Consider making a dry run first, closing the invoice window before paying to understand what will be involved. Then make your real payment run. A credit card payment transfers money passively. To do so, click the Copy tab near the top. If you follow this guide, the risks should be minimal. But be aware that you could lose the entire value of your paper wallet to a mistake.
Bitcoin payments are irreversible and there is no help line to call. The payment amount appears in bold near the center. It should be denominated in BTC bitcoin.
The payment address appears near the bottom of the screen. In your Blockchain wallet home screen, click the Send button. Under From, pull down your paper wallet address under Imported Addresses. Paste the Gyft payment invoice address in the To field. In the leftmost Amount field, paste the precise amount requested by the Gyft invoice. Spending bitcoin requires the payment of a fee, and setting this fee is the purpose of the Transaction Fee field.
However, network fees float, rising when demand increases, and falling when it decreases. Understanding how fees work is a key skill that any serious Bitcoin user should master. At the very least, you should understand that setting a cheapskate fee can put your transaction into limbo for hours or days.
You will receive notification of your payment success in two ways. First, your Gyft invoice window should close with a message indicating your payment was accepted. Second, your Blockchain wallet will show a pending transaction. The procedure described here is inherently insecure and should only be used to redeem small sums of money. If performed on an insecure personal computer most of which are , an attacker can steal your money leaving you with nothing.
Larger sums of money residing on paper wallets should be handled with great care. At the very least, a solid understanding of cold storage is required. Blockchain urges you to transfer the funds on imported paper wallets into a Web wallet address. This recommendation reflects the way Blockchain handles wallet backups.
I can, however, suggest looking into Electrum instead. Blockchain is a fine wallet for spending small sums loaded onto a paper wallet, but is a poor choice for long-term storage of bitcoin. Having gotten the hang of online purchases are with bitcoin, you may want to do some more. Check out the home page for future directions. No games, no spam. When you sign up, I'll keep you posted with emails per week.
Unsubscribe at any time. Step 1. Create a Software Wallet Claiming the funds on a paper wallet requires software. Click outside the white area to dismiss it. Mycelium, Bread, Trezor or web-based wallet e. After transferring the funds, search for your public key on blockchain. The way you will access your funds will be to "import" or "sweep" your paper wallet. This effectively transfers the coins from your paper wallet to a live wallet e.
Mycelium or Trezor or to an exchange service e. You should always sweep the complete balance, as it's generally not safe to try to spend just a portion of the funds on 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.