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Author Topic: Transferring bitcoins from a paper wallet to Electrum wallet for Android  (Read 170 times)
Roberto12345 (OP)
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February 03, 2024, 06:08:33 PM
 #21

How am I supposed to use my bitcoins to pay for something by a paper wallet? That’s why I need a hot wallet, right? Do I have any other choice?
A paper wallet should be generated offline and the private key should never connect to the internet. Otherwise, you would defeat the purpose of a paper wallet.
If you generated your paper wallet using on an online device, that's not really a paper wallet.

You can import your private key into a hot wallet and spend your fund, but that's not recommended. For more security, it's recommended to import your private key on an offline device (preferably to be air-gapped) and sign your transaction there.
Take note that for making a transaction offline, you would need two wallets. You would need to create a wallet with your private key on an offline device and a watch-only wallet on an online device.
The offline wallet is used for signing the transaction. The online wallet is used for creating the unsigned transaction and broadcasting the signed transaction.


I edited the post to fix a typo.
Thanks Roberto12345 for the correction.

Sorry but...how the two wallets get in touch with each other then?
I mean, one of the two wallets is always offline!

Ok, got it...because that one online is a watch-only wallet
hosseinimr93
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February 03, 2024, 06:37:37 PM
 #22

Sorry but...how the two wallets get in touch with each other then?
I mean, one of the two wallets is always offline!
For making a transaction offline, first you create an unsigned transaction on your watch-only wallet. Then you export the unsigned transaction and import it into your offline wallet. You sign the transaction on the offline wallet and after that you import the signed transaction to the online device and broadcast it to the network.

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