Securely sweeping a paper wallet into Electrum ok this way?

[joe1234]

Hello

Many years ago, I bought a fraction of Bitcoin at a Bitcoin ATM. Now, I intend to
sweep the entire amount from the paper wallet into Electrum running on Tails
(without persistence).

The private Keys do start with K and L.



Questions:
1.
Can I blindly trust and follow this guide?
https://bitcoinelectrum.com/sweeping-your-private-keys-into-electrum/


2.
Does that mean, after creating a new Electrum wallet and writing down the automatically
generated new seed, the computer could be rebooted without loosing any funds?



Thank's lot in advance for any feedback!

.
.
PS:
After the funds have arrived in Electrum, I will transfer them to the Relai app, which is
linked to my IBAN bank account. This makes trading very easy.

[Zaguru12]

I see you have every detail already to actually import your paper wallet, if your fear is about the wallet be rest assured that electrum wallet is definitely a great wallet and has proven long term now to be one of the best hot wallet for bitcoin,

The security though depends on you and the device you are using make sure your not using an infected device to install the wallet on and the back up should be done properly and should be offline storage . While sending out be wary of the address most especially if the device is corrupted.

[Ruttoshi]

Does that mean, after creating a new Electrum wallet and writing down the automatically
generated new seed, the computer could be rebooted without loosing any funds?


After the funds have arrived in Electrum, I will transfer them to the Relai app, which is
linked to my IBAN bank account. This makes trading very easy.

Of course, you wouldn't lose your funds because the seed phrase is your wallet and when you have your seed phrase written down, you funds is safe. After rebooting your computer, your funds remains in your wallet and not in your PC. You can import your seed phrase with a different PC or phone entirely and your funds will be sitting inside your wallet.

Trading is risky, be careful and trade with only the amount of money that you can afford to lose.

[nc50lc]

Questions:
1.
Can I blindly trust and follow this guide?
https://bitcoinelectrum.com/sweeping-your-private-keys-into-electrum/

That should work.
The guide is unofficial but posted by a reputable member of Electrum board.

But when it comes to safety of the coins that you'll sweep, it still depends on the security of your machine.

2.
Does that mean, after creating a new Electrum wallet and writing down the automatically
generated new seed, the computer could be rebooted without loosing any funds?

You coins are basically backed-up by that seed phrase, it can re-generate all of your private keys even without that exact same computer.

PS:
After the funds have arrived in Electrum, I will transfer them to the Relai app, which is
linked to my IBAN bank account. This makes trading very easy.

In that case, regarding my note in #1, you may consider doing a cold-storage setup to send it to that app.
You can follow this tutorial for that: /index.php?topic=5524213.msg64885706#msg64885706

[Abdussamad]

If you want to send the entire amount in the paper wallet to relai you can simply sweep the coins to your address in relai. So in the sweep window you put in your address in relai instead of an address in your electrum wallet.

[khaled0111]

That depends. If you are running Electrum on a secure device and have written down your wallet seed and kept it safe, then rebooting the device won’t result in losing your crypto, as you can restore your wallet at any time.

You can follow the guide you linked above, written (afaik) by Abdussamad, to sweep your private keys, it’s safe.

I have never used the Relay app or even heard of it. However, I would advise against moving all your coins to a self-custodial service.

[SilverCryptoBullet]

Questions:
1.
Can I blindly trust and follow this guide?
https://bitcoinelectrum.com/sweeping-your-private-keys-into-electrum/


2.
Does that mean, after creating a new Electrum wallet and writing down the automatically
generated new seed, the computer could be rebooted without loosing any funds?

Electrum is an open source and non custodial wallet that gives your own private keys of your bitcoins. You are able to fully access and control your bitcoins as well as Bitcoin transaction broadcast including customized fee rates.

Safe or not, it starts with how you download, verify and install your Electrum wallet before using it for generating your new wallet.

You can do it by either: Sweeping like you described, or simply creating a new wallet by Electrum wallet software and manually sending your bitcoin from your old wallet to a new generated wallet. Both ways are safe but make sure your computer is clean and does not have virus. Using TailOs is good but I would like to make a note on importance of your device security status if in future you won't use TailOs.

[GUIDE] How to Safely Download and Verify Electrum.
The paranoid user's security guide for using Electrum safely.

After the funds have arrived in Electrum, I will transfer them to the Relai app, which is
linked to my IBAN bank account. This makes trading very easy.

I don't know about Relai app but I am curious that whether it is open source and non custodial wallet?

By an information of bank link, it seems Relai is not safe to store your bitcoin, honestly it's my guess as I don't know about Relai app.

[Forsyth Jones]

Apparently you are doing everything right, as stated, the guide you linked is safe.

After sweeping the privkey for the new wallet generated by electrum, it's up to you to decide how to store this newly created Electrum wallet:

1 - Keep it offline - use this wallet only to sign offline transactions to transfer (the signed transaction) to the computer with the electrum wallet that contains only the XPUB of that same wallet on the offline PC with tails. In this case, all you will need is a USB flash drive to carry the data between the online (create transaction) - offline (sign the transaction) - online (broadcast signed transaction) computers.

2 - Use it as a normal hotwallet, in this case, the security depends on the online environment in which electrum is installed, make sure to keep a reasonable amount of BTC that you are willing to lose, remember, you're in an online environment and you never know if there is malware monitoring everything waiting for the right moment to steal your coins. In this case, if you want to obtain the security of an offline PC and the practicality of a hotwallet, you can choose to purchase a hardware wallet such as Coldcard, Passport, Trezor, etc.

Some of these HW are air-gapped, so in terms of signatures, they perform the same procedure as an offline PC, however many of these devices come with a camera, simply scanning the QR Code of the transaction and loading the transaction data through them. You can also prefer to use a USB flash drive for this optionally.

When I say about getting security comparable to an offline PC/paper wallet with the convenience of a hot wallet, I'm referring to hardware wallets like Trezor or BitBox... which aren't air-gapped. Transactions can be signed with the device connected via USB to your PC, in this way, transactions are signed "offline" in the isolated environment of the device, which manufacturers guarantee is secure thanks to their Secure Element (not all HWs have this, but most do today).