Paper wallet to Nano S

[TheVeryBigBean]

Is there an easy way to import or sweep coins from a paper wallet to a Nano S? Having googled it, a number of old posts seem to imply it is necessary to sweep to Coinomi first and then on to the Nano S. It seems like quite a lot of hassle to do that given that I will need to spend a while working out how to do it safely, and the sort of person who owns paper wallets is probably the person who moves to a hardware wallet.

Also, how do I do it for all the various forks that I presumably also own (Gold, Cash, SV, any others)

Any help would be much appreciated.

[OmegaStarScream]

You can install Electrum, connect it to your Ledger[1] and use the sweep feature[2]. That should move all your bitcoins from the paper wallet to your ledger device.

I'm not so sure about BTG and BSV but the same thing should be possible with BCH, you just have to use Electron Cash[3] (which is a fork from Electurm for BCH) instead.

[1] https://support.ledger.com/hc/en-us/articles/115005161925-Set-up-and-use-Electrum
[2] https://bitcoinelectrum.com/sweeping-your-private-keys-into-electrum/
[3] https://support.ledger.com/hc/en-us/articles/360009676633-Set-up-and-use-Electron-Cash

[bitmover]

If I were you,  I would generate a fresh new seed in my ledger nano
Then i would move the funds from the paper wallet using electrum. Using a fresh new address from a fresh new seed generated in the ledger nano.

[HCP]

Is there an easy way to import or sweep coins from a paper wallet to a Nano S? Having googled it, a number of old posts seem to imply it is necessary to sweep to Coinomi first and then on to the Nano S.

Is that because of the "QR Code" functionality? As in, simply scan the Private Key QR Code from the paper wallet to sweep into Coinomi and then send to your Nano S?

It seems like quite a lot of hassle to do that given that I will need to spend a while working out how to do it safely, and the sort of person who owns paper wallets is probably the person who moves to a hardware wallet.

The short answer is that yes, it is a hassle to do that... but you should be able to sweep the funds directly from the paper wallet to your Ledger Nano S by following OmegaStarScreams advice... setup your Ledger Nano S, then connect it to Electrum... and then sweep the coins directly from the paper wallet into a Ledger Nano S address.

Also, how do I do it for all the various forks that I presumably also own (Gold, Cash, SV, any others)

Getting the forkcoins is likely to be a bit more complex... although most of the "big" forks have Electrum "clones", I'm not sure if they're still actively being developed and/or work with Ledger devices... ElectronCash possibly still is for BCH... but for the others, I have no idea. So, for those sweeping the fork coins into a multicoin wallet like Coinomi and then sending to addresses on your Ledger Nano S (via Ledger Live) might be the "easiest" (but not necessarily the "securest") option.

[LoyceV]

You can install Electrum, connect it to your Ledger[1] and use the sweep feature[2]. That should move all your bitcoins from the paper wallet to your ledger device.

The problem with this, is exposing the private key to an online system. I assume we're talking about a decent amount of coins here, and the entire point of using a paper wallet and hardware wallet is to never have your private keys touch a hot wallet.
Instead, you can install Electrum on an online system, and import the funded address (not the private key). Then, make a transaction, and copy the raw transaction.
Use Electrum again on a system without internet, running Linux from a LIVE DVD. Import the private key, copy and sign the transaction, then check and broadcast the transaction from an online system.
Destroy the private key from your LIVE Linux by turning off the system.

You can do the same for Forkcoins, in order of most valuable. After your Bitcoin is moved and confirmed, start with BCH, then BSV, BTG, BCD, and further down. Note that BCH/BSV don't have replay protection, so to prevent having both move when you transfer one of them, you can send some BCH-dust to your BCH address first, then transfer all BCH (including the dust that doesn't exist on the BSV chain).
I still have to figure out how to safely do some of the more exotic ones.
I made LoyceV's Bitcoin Fork claiming guide (and service) a while ago, most information is outdated by now, but it's still worth reading.

Doing all this off-line is about 20 times more work than just installing all hot wallets and importing your private key. But it's the safest method, and you wouldn't be the first to lose their coins while trying to claim Forkcoins. There are many compromised wallets out there.

[TheVeryBigBean]

Thank you everyone for the really detailed and helpful advice. I will go away and read up a bit more on the various steps. The live Electrum seems easy enough, but the offline one and the forkcoins seem a bit more challenging.

Part of my concern is that if I expose my private key for Bitcoin, then I am also exposing it for all the forkcoins. Although, sadly, there isn't that much in the wallet, so perhaps it is a small enough risk.

Overall, it feels like a bit of a shame that this isn't something Ledger has included. It would be nice to provide Ledger Live with my private key and all supported coins automatically swept to the Nano S.

 

[bitmover]

The problem with this, is exposing the private key to an online system. I assume we're talking about a decent amount of coins here, and the entire point of using a paper wallet and hardware wallet is to never have your private keys touch a hot wallet.

This is exactly why I suggested to move the coins to a fresh new wallet in ledger nano. Their private keys will be exposed, and even a small mistake can be final here. I would do the simpler: just move coins to a new ledger nano wallet

Part of my concern is that if I expose my private key for Bitcoin, then I am also exposing it for all the forkcoins. Although, sadly, there isn't that much in the wallet, so perhaps it is a small enough risk.  

Do you have a seed of your paper wallet?
If you have the seed, you can just recover those forked coins in ledger nano device (insert your seed in the device), and then recover coins in ledger live. Just move all of them to an exchange and convert to btc (what I would do) or move them a new ledger nano wallet.

If you don';t have the seed, I would recover all my forked coins in iancoleman.io/bip39 then scan all private keys with funds with Coinomi Mobile wallet. Coinomi is safe for this operation. Then transfer all your funds from coinomi to ledger nano (new wallet).

My suggestion. It is overall simple

[LoyceV]

This is exactly why I suggested to move the coins to a fresh new wallet in ledger nano. Their private keys will be exposed, and even a small mistake can be final here. I would do the simpler: just move coins to a new ledger nano wallet

I don't get what you mean here.

Do you have a seed of your paper wallet?

Paper wallets don't have a "seed", they have a private key.

[TheVeryBigBean]

LoyceV - one quick further question if you have a second about setting up electrum offline. I know how to launch a live version of lubuntu, for example, but how I do then get electrum on it? Do I download it in advance on a USB/CD and install it from there or do I download it from the internet and then disconnect the internet?

Otherwise, I think the offline signing of the bitcoin transfer, and then adding all the other coins to Coinomi makes sense. I have to use an offline computer anyway, because my paper wallet is actually a brain wallet, so I need to generate the private key to start the whole process.

[LoyceV]

I know how to launch a live version of lubuntu, for example, but how I do then get electrum on it?

It's been a while, and I've used several images so I'm not sure which one worked exactly, but Electrum was preinstalled on some of them. I think Knoppix has it.
It's much more annoying for Forkcoins indeed, and if the amount isn't too high, Coinomi is a lot easier. Just don't forget the lack of replay protection, exporting private keys to recover coins from the wrong chain is more work. I can send you $0.01 in BCH if you PM your cold storage address.
Instead of using Electrum, you can also use coinb.in to create an unsigned transaction online and sign it offline.

Do I download it in advance on a USB/CD and install it from there or do I download it from the internet and then disconnect the internet?

It might work, or it might ask you to install additional packages, which requires an internet connection.

[bitmover]

Paper wallets don't have a "seed", they have a private key.

This depends a lot on how that paper wallet was generated, and AFAIK there is no "official standard " on how you should do a paper wallet. A simple 12 word written down in a piece of paper is a paper wallet imo.


And it looks like that is exactly OP's case, he has just a seed and he is using the correct term imo: paper wallet

I have to use an offline computer anyway, because my paper wallet is actually a brain wallet, so I need to generate the private key to start the whole process.

Just don't forget the lack of replay protection, exporting private keys to recover coins from the wrong chain is more work.

Take a look at this guide made by coinomi, teaching how to split your coins from both chains before recovering.

About replay protection:

There is no replay protection between the BCH (ABC) and the BSV chains. This means that, unless you properly "split" your coins, transactions you make with one of those coins will also be made on the other.

Sending unsplit BCH will result in the same amount of BSV being sent to the same address (and vice-versa). The receiving wallet may not be prepared to accept BSV into their address, so there is a possibility of loss of BSV coins. This is not an issue specific to Coinomi, as any other wallet you use is under the same risk.

How to split coins:

Splitting is only necessary if you had a positive BCH balance on November 15th 2018. If you received either BCH or BSV after that date, they are most likely already split.

Receive a new deposit into your BCH wallet of BCH that is already split. The easiest way is to receive BCH from an exchange.
After transaction from (1) is confirmed, copy your current BCH "receive" address and send your full BCH balance to it.
Done. This should be enough for your coins to be split. This process only has to be done once. After your coins are split, they are split forever, and further deposits you receive will also most likely already be split.

How to claim BSV coins:

Only do this if your coins are already split, otherwise the transaction will happen with both coins.
...................

https://coinomi.freshdesk.com/support/solutions/articles/29000026274-bch-abc-bsv-fork-information-splitting

So, I would transfer all bitcoin to a ledger nano wallet (new seed)  and then insert the old seed in Coinomi wallet. Recover your forked funds and send them (straight away) to an exchange (better imo) or your new cold storage.

[LoyceV]

Recover your forked funds and send them (straight away) to an exchange (better imo)

That's not what your own quote from Coinomi recommends. If you send your Forkcoins to an exchange and your BSV ends up on your BCH address, you won't be able to get them back.

[TheVeryBigBean]

Just for clarity my brain wallet is not a 12 word seed, so it is in effect the same as a paper wallet and just a private key which is why I just asked about paper wallets. It's actually worse than a paper wallet, because I made it so stupidly complicated that I couldn't remember it so had to write it down in abbreviated form. Part one of my challenge is to generate the correct private key, but it's only me that can do that, so not part of this post which is part two of the process!

In any case, many thanks for all the help. I now need to learn about replay protection!

[bitmover]

Recover your forked funds and send them (straight away) to an exchange (better imo)

That's not what your own quote from Coinomi recommends. If you send your Forkcoins to an exchange and your BSV ends up on your BCH address, you won't be able to get them back.

lol
I thought that it was obvious that after following the guide from coinomi about BSV/BCH replay protection, just send the coins straight away.

Just to remember that there are more bitcoin forks which he might be interested, like BTG, BTD, etc, which are worth something. That guide applies only for bsv and bch.

[bob123]

Part of my concern is that if I expose my private key for Bitcoin, then I am also exposing it for all the forkcoins. Although, sadly, there isn't that much in the wallet, so perhaps it is a small enough risk.

When sweeping an old (pre fork) private key, you usually want to start with BTC first anyway because it is the most valuable.

Using electrum connected to your ledger should be fine. Start with BTC and follow up with the forked shit coins.
You might want to run the shitcoin wallets in a VM tho.

[HCP]

Just to add to that... Current Coinmarketcap.com prices are as follows:

BTC: USD~$11,200
BCH: USD~$287
BSV: USD~$223
BTG: USD~$10
BTCD: USD~$0.83 (note: was forked at a 10:1 ratio, so is effectively ~$8.30 per BTC that was held prefork)

Once you get the BTC, BCH and BSV from your "brain wallet"... the other forks are barely worth the trouble/security risk unless you:

1. have 100's or 1000's of BTC (in which case, you already have millions of dollars worth of BTC!)
or
B. you are very desperate for cash
or
Lastly, you live in a place where $5 is considered a lot of money

[bitmover]

Just to add to that... Current Coinmarketcap.com prices are as follows:

BTC: USD~$11,200
BCH: USD~$287
BSV: USD~$223
BTG: USD~$10
BTCD: USD~$0.83 (note: was forked at a 10:1 ratio, so is effectively ~$8.30 per BTC that was held prefork)

Once you get the BTC, BCH and BSV from your "brain wallet"... the other forks are barely worth the trouble/security risk unless you:

1. have 100's or 1000's of BTC (in which case, you already have millions of dollars worth of BTC!)
or
B. you are very desperate for cash
or
Lastly, you live in a place where $5 is considered a lot of money

The best approach imo is to transfer BTC from that brain wallet to a safe new address. Then recover the most valuable forks first (BCH and then BSV)

After you recover BCH and BSV and transferred them elsewhere, there are no more risks (only trouble lol)

I think it is worth to recover BTG if anyone has at least 1 BTC (10 usd is worth some taps at least, and there is no trouble because you can do it in coinomi with just a few clicks).

The other forks are really worthless for now... they were worth a lot of money few years ago... almost a passive btc income. If any fork similar to those happens in the future again, i will sell straight away.

[TheVeryBigBean]

Just to add to that... Current Coinmarketcap.com prices are as follows:

BTC: USD~$11,200
BCH: USD~$287
BSV: USD~$223
BTG: USD~$10
BTCD: USD~$0.83 (note: was forked at a 10:1 ratio, so is effectively ~$8.30 per BTC that was held prefork)

Once you get the BTC, BCH and BSV from your "brain wallet"... the other forks are barely worth the trouble/security risk unless you:

1. have 100's or 1000's of BTC (in which case, you already have millions of dollars worth of BTC!)
or
B. you are very desperate for cash
or
Lastly, you live in a place where $5 is considered a lot of money

This is a good point, so thanks. I should probably have checked the values of some of the forkcoins before posting, but in fairness I did ask in the beginner section to start with where such ignorance could be excused!

I think it is all fairly clear now and everyone agrees, so thanks all.