How do I safely, correctly move my BTC from paper wallet to new electrum software wallet?

Bitcoin Questions and AnswersCategory: QuestionsHow do I safely, correctly move my BTC from paper wallet to new electrum software wallet?

Kelly Alexander asked 1 year ago

I found a “how to” online, however, it is for a much earlier version of electrum. I am attempting to exchange some BTC for ETH and Litecoin and running into roadblocks at every turn. Apparently it is risky to spend directly from a paper wallet/address. So I need to move my btc from paper to “live/hot” wallet and then use Changelly or Shapeshift to make the conversion. It is taking HOURS to learn, sort thru, and apply all the ins and outs–very frustrating…appreciate some relevant updated direction. Also, where can I find a crypto currency tutor to walk me thru this stuff?

1 Answers
Steven Hay answered 1 year ago

Hi Kelly,
If I understand your question correctly, you want to do two things:

  1. Import bitcoins from a paper wallet into your electrum wallet, then
  2. Exchange those bitcoins for ethers and litecoins.

So for part 1, the best thing to do is sweep the private key from your paper wallet into your Electrum wallet. In Electrum, go to the Wallet tab > Private keys > Sweep. Copy the private key from your paper backup and hit “Sweep” – the funds will be imported into your new Electrum address (specified next to “Address.”)
As for point 2, I’d say it’s best to consult the FAQs on the sites – doubt I can explain the process better than the sites themselves. They’re pretty easy to use, you just specify you want to exchange BTC for LTC / ETH, enter your LTC / ETH address and then send BTC to the address the site gives you.
As for tuition, feel free to ask more questions on this site. There are also numerous learning resources I could recommend. If you want something like private tuition by Skype, we could perhaps make an arrangement. My email should be displayed in my profile. 

Kelly Alexander replied 1 year ago

Thank you Steven….you understood my question exactly. I will follow your steps, then determine if I need further assistance or not. Really appreciate your reply.

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