Q&A for How to Send Bitcoin from a Paper Wallet

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How do I make sure everything is safe when scanning QR codes?

Adam Hack
Cryptocurrency Expert
Adam Hack is a Cryptocurrency expert based in Miami, Florida. He is the CEO & Founder at Coin Nerds, a multi-purpose cryptocurrency exchange platform that allows users to buy, sell, and trade their crypto in-person and online. Founded in 2018, Coin Nerds’ mission is to educate those with little to no experience in the rising Web3.0 economy through a combination of physical storefronts and intuitive online platforms. Through Coin Nerds, Adam has furthered his aim to not only make crypto purchasing increasingly efficient but to also capture the confusion behind crypto research into a necessary requirement for purchasing these assets. The platform prioritizes providing an accessible, customer-centric approach. Adam and Coin Nerds have been featured in multiple publications, including Yahoo Finance, The Wall Street Journal, and Fox Business. Adam recieved a BASc in Computer Engineering from the University of Waterloo.

Adam Hack

Cryptocurrency Expert

Expert Answer

Make sure you check the QR code address carefully. Usually there'll be a small pop-up stating the address once you have scanned a QR code, so make sure the address shown is for the recipient you want and don't scan codes from untrusted sources. A good wallet with great security features also matters. You should proofread for typos, as money can get sent to the wrong address and even a small mistake can happen. And be very careful about phishing scams, which may come in the guise of unsolicited QR codes or messages. Lastly, you can also consider storing your private keys offline using a hardware wallet for maximum security.

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Question

How can I create a paper wallet?

Community Answer

Most bitcoin-related websites have user friendly interfaces for creating these.

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Question

I'm having trouble transferring a paper wallet transaction into my blockchain wallet. What can I do?

Community Answer

Use Electrum or any other app where you can have the private keys. Do not use blockchain wallet, as of 20 January 2021, there is no way to keep nor even see your private keys; not your keys, not your BTC, so beware.

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Question

I lost my private key. Is possible to deposit and and get the private key which I lost?

Community Answer

The private key is the only way to get access to your bitcoins. Either you have the 12 words passphrase to restore, or impossible. Bitcoin encryption is known for being extremely robust.

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Question

If I made the Paper Wallet before August 1st 2017, will it retrieve also the other coins?

Community Answer

As long as you have the paper wallet and you share it with no one, your bitcoins are safe. A BTC wallet can keep BTC only.

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What would I need to do to get a paper wallet to store my Bitcoin in?

Community Answer

You need to be very cautious when generating your paper wallet. Go to a website that proposes the option to do it offline. Once you have loaded the webpage, you can go offline. Generate your paper wallet(s) only when you are offline and print them still being offline. Do not connect to the internet even after having generated your wallets. A single mistake can lead to the loss of your bitcoins. Consider formatting/ reinstalling your system once the operation is done. You can do that also by installing a virtual machine with Virtualbox (easier to delete afterwards). Safety is not random, if your bitcoins are worth worrying about, then follow the advice.

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