Bitcoin Forum

I have an account with a wallet. However someone answered my post saying they will send first if I create a paper wallet. I wanted to cash out for western union.

Am I missing something here? Whatever happened to transferring from one wallet to another?

Wallet is a wallet. Usually the sender doesn't care what kind of wallet the receiver has.

You can give him your bitcoin address. He can't know if its a paper wallet or online...

They want ne to deposit my money in blockchain and then create a paper wallet then they'll send. I already have a wallet with bitgo

Dont do it. Its a common scam tactic. As a paper wallet often has not only the address but also the private key on it. This allows the other party to first send the coins to you, receive the payment (e.g. via WU) and afterwards spend your coins with the private key you leaked by mistake. I have never seen any legit trader requesting a paperwallet to send to. Which wallet you use is your business alone, it makes no difference for the sender, they just need the address and the address only.

I thought so. I just wanted to cash out my coins for some cash to buy more coin.

They threw me off by offering to send first and then all of a sudden. They wanted escrow but wanted me to open up a blockchain account and the paper wallet.

I haven't done anything as of yet. I'll just sell 70 dollars of my coin until I can build a rapport around here.

It seems like an odd request. You could send a paper wallet with an encrypted private key, and send the password once you have the cash.

Request is just a simple scam attempt like Shorena explained above. The OP can send like you have explained, with encrypted private key and he would be just fine, but the scammers have counted that he won't do it that way and that he will actually send them their private key in plain text. Scammers wanted to use OP's inexperience.

OP, it's great that you have checked here first and asked for an opinion. Just stay away!

Something made me feel like I needed to get a better sense.
I'm just going to get a thread offering my coins. I want to start small and work myself up to doing bigger deals.

You can also Keep your coins and hope that the Price will go up...like an Investment.



Why do you want to cash out, when ure gonna buy more coins with the same Money?

Why dick around with private sales of any type? If you're somewhere first world ish there should be no shortage of reputable operations where you can sell your coins without having to expose yourself to risk.

I'm brokering for some locals. They said start small and do the best rate. I just started my first deal. Wiah me luck!

Id keep it as your bitcoin wallet, because he might be trying to make your whole wallet physical, so If he sends you BTC to your wallet, it will just bounce back to him.