How do I import my Ethereum (ETH) from a paper wallet to a software wallet | Bity Help Center (2024)

FAQs

How to withdraw from a paper wallet? ›

Funds in a paper wallet can be retrieved by "sweeping" them into a software wallet (like Trezor or Exodus) or an exchange platform (such as Coinbase). Two main exceptions exist in this process. The first involves BIP38-encrypted private keys, which are not universally supported for direct import.

When you initiate a transaction to send ETH to another Ethereum wallet, your crypto wallet will prompt you to specify the amount of ETH you'd like to send, and the recipient's wallet address. Once you confirm the transaction, your crypto wallet will use your private key to create a digital signature.

Key Takeaways

A paper wallet is a printed piece of paper containing keys and QR codes used to facilitate your cryptocurrency transactions. Because keys are removed from devices with internet connections, paper wallets were considered more secure than other forms of cryptocurrency storage.

Step 1: Open an account with a reliable crypto exchange that supports Ethereum transactions. Step 2: Transfer Ethereum from your wallet to the exchange account. Step 3: Convert Ethereum to the preferred currency and withdraw funds to your bank.

Here are some general guidelines for choosing the correct network: For Bitcoin, you will need to choose the Bitcoin network. For Ethereum and other Ethereum-based tokens (such as ERC-20 tokens), you will need to choose the Ethereum network. For Litecoin, you will need to choose the Litecoin network.

While paper wallets are secure from online threats, they are not the most secure overall. They are vulnerable to physical damage, loss, and theft. They can also be exposed during their creation process, potentially being compromised before even being used.

The Simple Way to Create a Paper Wallet

Move your mouse around / enter random text to help generate a random private key. Once done, choose “Paper Wallet” and print out the results. Your Bitcoins can then be stored through the public address on the left.

Are paper wallets cold wallets? ›

Paper Wallets

The most basic form of cold storage is a paper wallet. A paper wallet is simply a document that has public and private keys written on it. In the case of a bitcoin paper wallet, you can print the document with a wired printer.

Wallet Import Format (WIF) is a standardized method for displaying Bitcoin private keys using the Base58Check encoding scheme. WIF format was standardized in order to allow all Bitcoin wallets to import and export private keys.

Once you've copied your public ETH address, navigate to the Send/Receive section on the exchange you purchased your ETH. On Coinbase, for example, this is located in the top right: paste your address, the amount of ETH you'd like to send to it, and press "Continue".

How to withdraw/spend bitcoins using a paper wallet. The way you will access your funds will be to "import" or "sweep" your paper wallet. This effectively transfers the coins from your paper wallet to a live wallet (e.g. Mycelium or Trezor) or to an exchange service (e.g. Coinbase.com).

Alternatively, it is a good idea to write to the editor of the journal to seek a withdrawal. When writing a letter to the journal editor, make sure to include the title of the manuscript, the names of the authors, and the reasons for withdrawal.