Did I get this right? Offline Paper Wallet inquiry

[demagog]

Hi everyone, I am just now in the process of making my first bitcoin purchase.
For all purposes I have decided upon putting the coin(s) in cold storage and refrain from using any of it for the time being.

Having read multiple guides on paper wallets I just wanted some help to see if the steps below are appropriate.

1. Coin will arrive in a blockchain.info hot wallet from exchange.
2. Print paper wallet from bitcoinpaperwallet.com (downloaded the source and disconnected from the internet to make it fully client-side) after running multiple antispyware scans. Opted not to boot from live disc due to inferior technical knowledge/motivation. Also relatively clean machine.
3. I now have a printed document with my public address and private key together with corresponding QR-codes.
4. Import public address to my hot wallet
5. Make a test transaction to the public address of my paper wallet of one satoshi to verify the functionality of my paper wallet.
6. Transfer the rest of the funds to the same public address.
7. Store the paper wallet with both public and private key enclosed in a zip-lock bag in a safe deposit box down at my local bank branch office. 
8. Include withdrawal instructions with said deposit. (Making sure I transfer the entire balance at once to avoid having any unused amount going to change addresses.)

Questions: Is there any possibility of verifying the functionality of my private key without actually importing it in a client? Seeing as this would defeat the purpose of the paper wallet. Also, I'm having some difficulty with the concept of transferring funds from an online client to an "offline address", but I guess the protocol just works by broadcasting the recieving address and upon future redeeming it goes back to check the blockchain to see "if any funds were ever there", so to speak.

Thankful for any insights!

[Neuerung]

5. Make a test transaction to the public address of my paper wallet of one satoshi to verify the functionality of my paper wallet....

I think you can´t transfer only 1 Sathosi. It will be considered spam and no be confirmed. Try sending something like 0.01 Bitcoin. Don´t forget to put fees (0.0001) Bitcon in this case. Blockchain.info does this automaticalle in the "simple mode"

[RedBurrito]

I would choose bitaddress.org to print my paper wallet.

Either way, on bitaddress.org on the last tab you can verify the key pair by putting your priv key. If it shows you the correct public key, you are good

[davidgdg]

...
4. Import public address to my hot wallet

...

Also, I'm having some difficulty with the concept of transferring funds from an online client to an "offline address"

...

You don't need step 4. You can just  type in the public address of the cold wallet manually as the receiving address (or scan the cold wallet public address QR code).
 

[freebit13]

Hi everyone, I am just now in the process of making my first bitcoin purchase.
For all purposes I have decided upon putting the coin(s) in cold storage and refrain from using any of it for the time being.

Having read multiple guides on paper wallets I just wanted some help to see if the steps below are appropriate.

1. Coin will arrive in a blockchain.info hot wallet from exchange.
2. Print paper wallet from bitcoinpaperwallet.com (downloaded the source and disconnected from the internet to make it fully client-side) after running multiple antispyware scans. Opted not to boot from live disc due to inferior technical knowledge/motivation. Also relatively clean machine.
3. I now have a printed document with my public address and private key together with corresponding QR-codes.
4. Import public address to my hot wallet
5. Make a test transaction to the public address of my paper wallet of one satoshi to verify the functionality of my paper wallet.
6. Transfer the rest of the funds to the same public address.
7. Store the paper wallet with both public and private key enclosed in a zip-lock bag in a safe deposit box down at my local bank branch office. 
8. Include withdrawal instructions with said deposit. (Making sure I transfer the entire balance at once to avoid having any unused amount going to change addresses.)

Questions: Is there any possibility of verifying the functionality of my private key without actually importing it in a client? Seeing as this would defeat the purpose of the paper wallet. Also, I'm having some difficulty with the concept of transferring funds from an online client to an "offline address", but I guess the protocol just works by broadcasting the recieving address and upon future redeeming it goes back to check the blockchain to see "if any funds were ever there", so to speak.

Thankful for any insights!

Do not do this, it will make the funds accessible from your blockchain account. As mentioned, you just need to pay the coins from your blockchain account into the paper wallet address with just typing the address in...testing the account with a tiny transaction is also a good idea.

[runam0k]

4. Import public address to my hot wallet

Do not do this, it will make the funds accessible from your blockchain account. As mentioned, you just need to pay the coins from your blockchain account into the paper wallet address with just typing the address in...testing the account with a tiny transaction is also a good idea.

He's talking about importing the public address but not the private key - making it a "watch only" copy.  This is possible on e.g. Mycelium on Android.  It's good for quickly checking your cold storage balance.

I'd also strongly recommend *not* typing in BTC addresses.  Copy and paste or scan QR codes.  If you make a mistake typing an address, your coins are gone.

[DannyHamilton]

If you make a mistake typing an address, your coins are gone.

Are you aware that a bitcoin address has a 4 byte checksum built in to the address?

This means that you have a 1 in 4,294,967,296 chance of making a typo that results in bitcoin address.  Assuming you are using a reasonably designed bitcoin wallet to send the transaction, any other typo would be recognized as invalid and the bitcoins wouldn't be sent.

[runam0k]

If you make a mistake typing an address, your coins are gone.

Are you aware that a bitcoin address has a 4 byte checksum built in to the address?

This means that you have a 1 in 4,294,967,296 chance of making a typo that results in bitcoin address.  Assuming you are using a reasonably designed bitcoin wallet to send the transaction, any other typo would be recognized as invalid and the bitcoins wouldn't be sent.

No, I wasn't aware of that.  Thanks!