Securely Withdraw a Bitcoin Paper Wallet: Offline Signing with your air-gapped Phone via Electrum
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- Опубліковано 4 сер 2024
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Chapters:
00:00 Intro
00:48 Process Overview
01:23 Software Setup
03:40 Air-Gapping your Phone
04:15 BIP38 Passphrases
05:54 Importing Keys
06:56 Create, Sign & Send Transaction
09:39 Cleaning Up
10:08 Sweeping Altcoins
Most of the guides that I have seen for sweeping (withdrawing or spending) Bitcoin from a paper wallet rely on you trusting that a single software wallet will sweep it correctly into your wallet, doing the sweep in a single step. If you aren't prepared to trust a single software wallet, or are simply sweeping a high value Bitcoin paper wallet, it is worth knowing how to do it securely by using your phone and your PC to offline-sign the sweep transaction with Electrum. It's easier than it sounds and I run through how to do it here. Basically this process lets you sweep a paper wallet with a similar level of protection than you typically get when using a hardware wallet like a Ledger, Trezor, Keepkey, etc. (In that it keeps your private keys offline and lets you verify the transaction details on a seperate device) Also covers how to sweep altcoins (Like Litecoin) or forks (Like BCH).
Official Electrum Website: electrum.org/#home
Electrum for Android play.google.com/store/apps/de...
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If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.
For your first purcahse, just stick with CoinBase: www.coinbase.com/join/5691c9d...
For Trading, just start with Binance: www.binance.com/?ref=18111926
By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)
Don't have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger: shop.ledger.com/?r=5243ecbb84...
(If you are just starting out, I would just recommend a Ledger Nano S)
If this was helpful, feel free to send me a tip:
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BCH: qr9qenlgjh0xlyz802h70ul69rpdj8z6qyuh7m79ah
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#bitcoin #btc #ethereum #eth #cryptocurrency #crypto #ledger #trezor #security - Наука та технологія
This video was just what I needed to transfer a few paper legacy wallets to BIP-39 wallets. I practiced with two smaller test wallets, then swept my larger assets after I was comfortable. Turned this video into a checklist that I did slowly, step by step. Not gonna lie, I had sweaty hands doing some of the larger amounts, but everything worked great and confirmed properly. For anyone reading, make sure that your miner fee is set large enough to move funds relatively quickly. I've tried a few transactions at 8-12sat/byte lately and they get held up for days/weeks or forgotten about. Thanks for making this video!
Good job holding your nerve and getting it sorted. Just be sure not to misplace your BIP39 backups now :)
Fantastic content once again! You should have 10X the subs you do now. Thanks again
Thanks :)
WOW!!quite complex procedure but I understand the concept...Actually there are lots of tutorials on how to create a paper wallet, but very few explain how to sweep a private k ey.. This tutorial is even more useful as it explains how to sweep it on a very secure way... thanks very much!
Yea it's quite a bit of work to do securely, in my mind this is a big part of why paper wallets aren't really an appropriate option for people starting out in 2021. (You really need to be a fairly advanced user to generate/store/use them securely)
@@CryptoGuide yeah but they remain the most secure wallet for a long term hodler...
As long as they are generated securely and stored in a safe and secure way. :)
good video m8!
Thanks!
Life Saver! Thanks~! (tip sent)
Glad it helped. Thanks for the Tip :)
Thank you
Glad it helped :)
nice!! thanks!!!
Glad it helped
Matt. What about if you want to transfer some funds and not all of them. Is the change going to the electrum change address? Should we always transfer the max amount via different outputs? How we cam select multiple receiving ends in Electrum. Great video!!
Basically if you follow this process then you avoid the common issue that people run in to with change, especially if you only do it with a single private key. Electrum won't generate a new address to return the change to, but will simply return any unspent change back to private keys that you manually imported in to the wallet. (As long as you only have one private key imported, if you have a few, it will pick one and consolidate them to a single address) You can double check this in the addresses tab on Electrum on the hot-wallet side.
The main issue that people have with change is that they will use a hot wallet to do a "sweep" type transaction, which moves everything off the paper wallet in to whatever intermediate wallet did the sweeping.
4:30 you can also install '' bitcoin paper wallet'' from fireedge on the playstore to decode/encode bip38 wallet. The app doesn't need internet access (it is meant to be used airgapped also)
Thanks for that, hadn't seen that tool and it's certainly quite handy. The only place that folk might un in to trouble with it is that it only gives you addresses using the compressed keys, whereas some older wallets may still have been made using the uncompressed ones. (Some paper wallet tools still default to that, even today)
So if I never connect the "Air gapped phone" to internet, I can use it only for sign transactions as a hardware wallet? Am i right? or i need to connect the phone after the transaction is confirmed for?
Thakns for the video!! Very useful.
You don't need to connect the phone to the internet at all, this process just looks at a way that you can use the existing phone you have as a temporarily air-gapped device.
Using an old phone in this way can work quite well and be a cheap way to get a significant security boost. The main difference is that the old phone likely won't stand up to physical attacks in the same way that a hardware wallet will. (But also has an advantage of being more discrete, nothing about it gives away that you are using it for Bitcoin, you aren't ordering specialized hardware from a wallet vendor, etc.)
Even more complicated for the Apple user, but thank you!
Yea unfortunately iOS isn't really a crypto developer friendly ecosystem...
Have a question about sweeping paper wallets on to my hardware wallet. I get the filling that as far as electrium, that’s Bitcoin only. However using a hw wallet open you up to this being used, hidapi. Using the hardware wallet would open the doors up to more currencies? If that’s true, would I then be able to use the “sweep” feature to sweep other coins besides Bitcoin wallets?
Nope, Electrum can only create and send Bitcoin transactions, so you can't use it to sweep other coins/chains. (Many chains like Eth don't support sweeping of any kind anyway)
If I have old paper wallets pre-fork, does this sweep both the BTC and the BCH from them?
You need to sweep them all individually. Your best bet is to just sweep the Bitcoin first using this method. You can then sweep the BCH using electron-cash, and the sweep whatever other alts you like.
Should I format phone and pc before and after the transaction
If you have a spare phone where you can do that, sure, but even if you don't, this method should be secure.
Can you create a video showing what to do with the crypto after you've transferred it off the phone and onto the laptop?
What does this even mean? Do you mean how to set up and use the wallet that you are transferring the paper wallet funds in to?
@@CryptoGuide Yes and how to withdraw profit but without actually selling your bitcoin
So by "Withdraw Profit" do you mean simply moving the funds from the paper wallet to something like a hardware wallet?
If that is the case, then you just need to get something like a Ledger, use all the defaults and hit "receive" for an address to sweep the paper wallet to. (This is covered in my Ledger initial setup video)
I´ve made a mistake and sent 20 celsius token from celsius network to a ethereum adress at coinbase, what should i do?
Unfortunately, since you sent the funds to a custodial wallet/exchange, your only option is to contact their support.
Very instructive, thanks. Could you please do a video on how to recover Bch and Bcd from an old paper wallet, ie made before the Bch fork.
The process is basically that you do this first to get the Bitcoin. If you want split the BCH/BSV then you send a small tx of BCH to the wallet (even 1c is enough) and then do the same process with Electron Cash.
From that point on, you might as well just sweep the rest with hot wallets as they are unlikely to be worth much. (So BSV and whatever other forks you want to bother with)
@@CryptoGuide Thanks for the reply, but I´m still not clear. When you send the BTC from a paper wallet to electrum, do the bch and bcd go with the btc to electrum?
BCH has replay protection, so you don't need to split it from your BTC, you just sweep it. Not sure about BCD, so if in doubt, just add an extra $1 of Bitcoin (And also whatever forks you want to claim) to the paper wallet before sweeping it like this and that will resolve any replay issues.
@@CryptoGuide your videos are such an asset. Thanks for these explanations but if you're ever looking for more video topics, I'd like to add a vote for this topic as well.
.
Thanks for this video, Crypto Guide, it's excellent. Is there a video on how to securely with 0% risk sweep the BTC into an existing paper wallet at the time of anonymous purchase from the BTC ATM (in some countries it's allowed to purchase BTC for cash from BTC ATM anonymously up to certain amount)?
Your best bet would be to have a BIP39 wallet (paper, offline Electrum or hardware) for this, otherwise you are reusing the same address over and over, making it easy for anyone to link all your purchases together.
Thank you! Can this be done using a ledger nano x?
Do you mean securely accessing funds from a Ledger seed or sending funds from a paper wallet to a Ledger?
@@CryptoGuide sending funds from paper wallet to ledger.
You can get the address from the Legder and send it via this method. Basically the issue is that you can't directly import a single private key in to your Ledger, and even if you pair your ledger with Electrum and sweep it that way, you are trusting Electrum entirely for the sweep step.
It s ccute!!!
That's one way to describe it
Does this work with Apple products? iPhone and Mac? Thx!
Electrum runs fine on Mac, but not on iOS.
hello thanks for the video, i tried too many times but not working.
So where exactly are you getting stuck?
Hi, thanks for this great video.
I have an Ether paper wallet with a substantial amount, can you please tell me a secure way to move this to a hardware wallet as Electrum cannot be used.
Thanks so much
You can use MyEtherwallet to create and send offline transaction, you could try that. Alternatively, you could just use an Ellipal which allows you to load in individual private keys.
@@CryptoGuide ok, thanks. I will look into those
Best of luck :)
Hey can u show how to refund eth or btc to worng addres...
The only way to get funds returned is to contact the owner of that address and have them manually send the funds back to you.
How to store alt coins in paper wallet....make a video plzz..
There is no single answer and paper wallets are generally a terrible idea anyway.
At you talking about just storing a seed phrase and HODLing?
I'm new user in blue wallet. and i did something wrong. my wallet become watch only. there is anyway to get my wallet normal or get my bitcoins back. also I don't have the 12 words :(
Unfortunately no, your seed backup is the only backup, so having only a watch wallet won't help you.
I'm sorry for your loss.
Get your learning hat on boys, this ain't no eli5.
Yea... This is true... This is a big part of why paper wallets aren't great if you are starting out new now :)
boss I saw on another channel that wallet papers are obsolete and unsafe, is that true?
Single private key paper wallets are a terrible idea in 2021, yes... (I mention that in this video)
@@CryptoGuide But doing them offline with a good 8-word keyword, is there a way to get hacked?
What does this mean? Are you using BIP 38 encryption or something?
You shouldn't be creating new single private key paper wallets in 2021... Use a seed based wallet instead...
hi can you give me link download Gpg signature verify? thank
Have you followed my video on how to verify Electrum?
Hi last year i had made a transaction from crypto.com elrond to bitcoin which never completed and it still show in history red narrow circle and doesn't say transaction completed can i any how reverse back?
Crypro.com is custodial, so you need up contact their support.
@@CryptoGuide will they able to get it back?
The funds may never have left your account, you just need to ask.
@@CryptoGuide have contacted them but still no answer but in the transaction history its as failed transaction. Hope they can recover it
Curious to hear how it turns out, best of luck.
I would like a private phone call or zoom how do I set this up?
If you are totally stuck you can request a paid private session. They are $100 USD for an hour over zoom/Skype. (Full details, terms and request form are here: cryptoguide.tips/recovery-services-consultations/)
@@CryptoGuide I might be contacting you.
Watching your videos...I have 0.5 BTC on paper wallet from April 2017.
I moved 0.2 BTC from paper wallet to blockchain in January 2021, No problem.
Now that functionality is gone.
I am interested in going to Trezor or Ledger.
This whole crypto thing is insane and hilarious.
Reading through the comments is....hilarious also. Not really funny, but...PEOPLE, Srsly.
100 USD/hr is very reasonable, But, USD???
One would suppose You would accept BTC. LOL.
Anyway, Cheers. Thanks for your videos.
Meow.
.
👍
Thanks
1. can i use offline pc and online phone?
2. where do you send sweeped bitcoins?
3. how to sweep paper wallet offline directly to cold storage?
1. Yep
2. Wherever you want.
3. Using this method, yes.
Which device is hot/cold doesn't really matter, it works both ways. :)
Good job sorting it out :)
I’ve been going nuts for the last 20 hours. I made a mistake and sent my GRT from Coinbase to BAT on Uphold and can’t find my tokens. I don’t know how I made it though work today. I’ve been reading and watching videos for a few hours and feel a little better knowing there might be a chance to save my tokens. I’m still a wreck and don’t wanna make another mistake
Uphold is a custodial wallet/exchange, so unfortunately your only option is to contact their support and hope that they help you.
Could you be reasonably certain you’re safe from malware or other attacks by just using a new factory reset device without going offline/air gapped? Couldn’t you use a practice paper wallet to sweep a small amount and if all the addresses line up and funds are not diverted you have some increased assurance your real transaction wouldn’t be compromised? I understand this tutorial allows you to essentially be 100 percent safe.
A new factory reset device *should* be fine, as long as you have installed a verified copy of the Electrum. (Verified via PGP) At the end of the day it comes down to deciding how certain you want to be, based on how large the amount is that you have on the paper wallet.
What if I don't want to sweep all of the BTC off the paper wallet? So if I have 1 BTC on a paper wallet and I want to send .5BTC to my Coinbase account can I do the transaction offline and send it without ever exposing my private key?
Basically you will need to import the private key like I demo here and make the transaction to Coinbase. When you make the transaction, you should see one output sending funds to Coinbase and a change output sending the remaining funds back to the paper wallet address.
You need to be sure to check the change and there have been plenty of folk who will sweep a paper wallet, rather than importing it as a loose private key. (Which makes to easy to accidentally lose whatever change is left over)
So mine has BIP38 protection and I don't understand why I need a 2nd computer. You went blazing fast through that part of the video. From that point on am I only using the 2nd computer after decrypting it? I import the private key into Electrum on the same 2nd computer?
Basically it's just that it's a bit messy to try and decrypt the BIP38 protected key on your phone, so you can either just do all the phone stuff on a PC or use a separate PC to do the decryption.
My Dear Crypto Guide,
Please Tell Me
How To Import Litecoin Paper Wallet With BIP38 encrypted.
I Have Install ELECTRUM-LTC
I Have Install LITECOIN CORE
But Not Import My Litecoin Paper Wallet
LITECOIN CORE Giving Message (Invalid private key encoding (code-5)
Please Help Me
I Am Too Much Sad
You don't need Litecoin Core... You will need to follow the process in this video to decrypt the private key and then import it in to Electrum-LTC.
help me.
I already Deposit from Binance to trust wallet.
Notice from Binance Withdrawal sucses, but in a trust wallet, my balance is still empty.
i Send Doge coin Form Binance using Bep20(Bsc)
and now my coin is missing.
will my coins come back ?
If you enable the Binance Smart Chain in trust wallet your funds should be there.
Gran video, por favor subtitulos español, thanks.
If you want organise do the translation and send it to me then I can add it.
@@CryptoGuide Your videos are very interesting, and they help a lot. It would be good for the Latino community if they were subtitled in Spanish.
If you want organise do the translation and send it to me then I can add it.
@@CryptoGuide
Thank you, which hardware wallet do you recommend?
It mostly comes down to what you are trying to store and what sort of devices you want to use with it. For most people I honestly think the Nano X is likely the best option overall, as it's accessible and robust for newbies, supports lots of coins and also supports both mobile and desktop very well.
I have some detailed feature comparisons here cryptoguide.tips/hardware-wallet-comparisons/
Hi can you help me recovery my vthor wallet phrases mnomic i lost the my phone and the phrases... i only have the binance email transfered to my account...can you help me thank you
If you lost both the working wallet and all backup of your phrase then there is no hope of recovery. (And anyone who offers to recover in this situation is just a scammer) The record from Binance doesn't help.
I'm sorry for your loss.
Crypto Guide thank you ..thank you for the answer
.
Hey bro cryptoguide please read my email and Skype or reddit is very very important..
Replied via email
Hi, I sent BEP20 ETH from Trust wallet to Coinbase wallet and it didn’t arrive. Is there anything that can be done to recover this? I can see it on BscScan there is a contract is it something you can help advise on? Many thanks in advance.
Regards
So when you say coinbase wallet, do you mean the one where you have a seed phrase or the custodial exchange?
Hey sir. I got locked out of my coinomi wallet about 2 years ago. I have nearly $35k in it worth of random alt coins. I came across your btc recovery tool video, followed it as much as I could and I am still having difficulty figuring it out. I was wanting to know if you would be willing to help walk me thru via Zoom or Skype im willing to compensate you for your time.
This ain't no bs scam or anything Peter baker is my real name. I've tried to do it myself about a dozen times but still can't . I suffered a head injury last year in a auto accident and I have very poor concentration.
So do you have access to your seed backup (easy recovery, even if it has an error in it) or are you trying to decrypt an existing installation?
BTCRecover doesn't currently support solving wallet password, but this could be added in the future. (Or you could sponsor it through an assisted recovery see github.com/3rdIteration/btcrecover/issues/116)
@@CryptoGuide i have all of the words but one, when I wrote them down I made a error and missed one. I followed your video and still wasn't able to figure it out.
@@CryptoGuide thats why I was wondering if you you show me over live chat. I'll gladly give you a few hundred
In Fiat or crypto
Big Tip:
If you import a bip84 private key into electrum make sure you enter the prefix p2wpkh: before entering your private-key
i have spend one our trying to figure out why my private key has no fund but my public key does. i think it imports a legacy address if you add no prefix
That's right :)
My Dear Crypto Guide,
Please Tell Me
How To Import Litecoin Paper Wallet With BIP38 encrypted.
I Have Install ELECTRUM-LTC
I Have Install LITECOIN CORE
But Not Import My Litecoin Paper Wallet
LITECOIN CORE Giving Message (Invalid private key encoding (code-5)
Please Help Me
I Am Too Much Sad
You don't need Litecoin Core... You will need to follow the process in this video to decrypt the private key and then import it in to Electrum-LTC.