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Author Topic: Taking Electrum Bitcoin back onto a paper wallet  (Read 212 times)
Zaguru12
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October 20, 2024, 08:42:21 PM
 #21


1) How do I now move my BTC onto this USB in a way that protects it? I assume I will need a new seed mnemonic for the flash drive version as my seed on online device would no longer be suitable for safe storage?

This is the main reason for going through this process to have an offline wallet therefore using an old seed phrase is actually going to defeat the process. Do not trust even the old seed phrase even if you assume it has not come online before, just create new one and move your funds there.

2) I'm finding the electrum guidance on creating a cold wallet a little hard to follow. I'm basically confused about how my Tails USB device can 'verify' the bitcoin have actually been transferred to it if it cannot connect to the internet?


Import the public key or address to any online wallet to use as watch only wallet. The address can be imported to any bitcoin wallet and you can monitor your wallet from there without having to expose your wallet to the network. The address can also be searched by using any bitcoin blockchain explorer but I won’t advice that, rather use a watch only wallet instead, since it has other uses like creating an unsigned transaction and broadcasting the transaction after signing

 
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ddffhh (OP)
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October 20, 2024, 09:00:45 PM
 #22

Thanks so much - and how do I create a new seed phrase for the BTC?
ddffhh (OP)
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October 20, 2024, 09:35:40 PM
 #23

Sorry there are also two steps on the electrum cold storage guidance I'm not following:

1) I've created a public key for offline wallet but when adding this to a new online machine watch-only wallet I'm not able to click 'next' after adding it. It is greyed out. I've checked that there are no extra spaces/paragraphs etc and it starts with 'zpub' - why can I not proceed to create the new wallet using this master key from the offline one?

2) Another step I don't get: "Create an unsigned transaction
Go to the “send” tab on your online watching-only wallet, input the transaction data and press “Preview”. A window pops up:"

Is this a reference to the transaction I originally made years ago when purchasing BTC? How can I send from this new wallet? I haven't transferred BTC out of my online electrum wallet yet to this new watch only wallet, equally not sure how this is getting the BTC moved into this new cold storage offline wallet.
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October 20, 2024, 10:06:00 PM
 #24

1) I've created a public key for offline wallet but when adding this to a new online machine watch-only wallet I'm not able to click 'next' after adding it. It is greyed out. I've checked that there are no extra spaces/paragraphs etc and it starts with 'zpub' - why can I not proceed to create the new wallet using this master key from the offline one?
You must have dne something wrong when trying to create the watch only wallet.
Here is adetailed guide on how to create a watch only wallet using the master public key:
https://bitcoinelectrum.com/creating-a-watch-only-wallet/
Make sure to choose the Use amaster key option on the Keystore tab.
 

Quote
2) Another step I don't get: "Create an unsigned transaction
Go to the “send” tab on your online watching-only wallet, input the transaction data and press “Preview”. A window pops up:"
You will need to do this wen you want to make a transfer from your offline wallet.
Right now, just send all your coins from the old (online) wallet to the new (offline) wallet. Of cours, don’t do this unless you are totally sure you have properly created your new wallet and backed it up. Send a small amount first, for testing purposes.

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