Securely Withdraw a Bitcoin Paper Wallet: Offline Signing with your air-gapped Phone via Electrum

Keep all your crypto safe & upgrade to a Ledger Nano X Hardware Wallet https://shop.ledger.com/pages/ledger-nano-x/?r=5243ecbb8427&tracker=youtube

Alternatively, if you prefer a 100% Open Source wallet, a Trezor One is also a great value wallet https://shop.trezor.io/product/trezor-one-white?offer_id=14&aff_id=2922&source=YouTube

Chapters:
00:00 Intro
00:48 Process Overview
01:23 Software Setup
03:40 Air-Gapping your Phone
04:15 BIP38 Passphrases
05:54 Importing Keys
06:56 Create, Sign & Send Transaction
09:39 Cleaning Up
10:08 Sweeping Altcoins

Most of the guides that I have seen for sweeping (withdrawing or spending) Bitcoin from a paper wallet rely on you trusting that a single software wallet will sweep it correctly into your wallet, doing the sweep in a single step. If you aren't prepared to trust a single software wallet, or are simply sweeping a high value Bitcoin paper wallet, it is worth knowing how to do it securely by using your phone and your PC to offline-sign the sweep transaction with Electrum. It's easier than it sounds and I run through how to do it here. Basically this process lets you sweep a paper wallet with a similar level of protection than you typically get when using a hardware wallet like a Ledger, Trezor, Keepkey, etc. (In that it keeps your private keys offline and lets you verify the transaction details on a seperate device) Also covers how to sweep altcoins (Like Litecoin) or forks (Like BCH).

Official Electrum Website: https://electrum.org/#home
Electrum for Android https://play.google.com/store/apps/details?id=org.electrum.electrum

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If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.

For your first purcahse, just stick with CoinBase: https://www.coinbase.com/join/5691c9d0a4c3a05dfa000151

For Trading, just start with Binance: https://www.binance.com/?ref=18111926

By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)

Don't have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger: https://shop.ledger.com/?r=5243ecbb8427&tracker=youtube
(If you are just starting out, I would just recommend a Ledger Nano S)

If this was helpful, feel free to send me a tip:
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#bitcoin #btc #ethereum #eth #cryptocurrency #crypto #ledger #trezor #security

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