Redeem Paper Wallet

At the Enchanted Forest Gathering 2016 in Mendocino County, I gave out paper Bitcoin wallets that each contained a unique private key for a Bitcoin account. These are instructions for importing this private key into a Bitcoin wallet.

Note: If your computer has malware installed on it, the private keys you import into the Bitcoin wallet on your computer may be compromised. The safest way to use Bitcoin is with a hardware wallet.

Desktop

  1. Download and install the Electrum Bitcoin Wallet.
  2. Open the Electrum app on your computer.
  3. On the Install Wizard screen, make sure “Restore a wallet or import keys” and “Standard wallet” are selected, then click “Next.”
  4. Type the private key printed on your paper wallet, then click “Next.” This key is case-sensitive, with no spaces, and must be typed perfectly to work.
  5. If you have entered the key correctly, then a wallet will be created with your new Bitcoin account. We’ll call this Electrum Wallet 1. You do not have to give this wallet a password because we are only using it temporarily.
  6. In the top menu, click File -> New/Restore. Give your new wallet a name (can be the default name).
  7. On the Install Wizard screen, make sure “Create a new wallet” and “Standard wallet” are selected, then click “Next.”
  8. Save the 12 word “seed” code given to you in a password manager like KeePass. Give the password a label like “Electrum Wallet 2.” Then click “Next” in Electrum. Copy+paste to re-enter the seed, then click “Next” again.
  9. Use your password manager to create a strong password to encrypt your wallet. This password should also be labelled and saved in your password manager.
  10. Go to the “Receive” tab in Electrum Wallet 2 and copy the receiving address. Go to the “Send” tab in Electrum Wallet 1 and paste the receiving address into the “Pay to” field. In the “Amount” field, enter the maximum amount that the wallet will let you send based on your current balance, then press “Send.”

Android

  1. Download and install the Mycelium Bitcoin Wallet app.
  2. Open the Mycelium app.
  3. Press the menu button in the top-right corner.
  4. Press the Cold Storage button in the drop-down menu.
  5. Press the QR Code button on the Cold Storage Spending screen.
  6. Scan the QR code on the paper wallet labelled “Bitcoin Private Key.”
  7. Press the Send button.
  8. Press the My Addresses button.
  9. Select Account 1.
  10. Press the button that looks like a keyboard under Amount.
  11. Press the Max button, then press OK.
  12. Press Send.
  13. Press the Back button on your phone to go back to the main screen of the Mycelium app. You should see a message that says “Receiving…” indicating how much bitcoin you are receiving. Once this message disappears (10 – 20 minutes at most), you will be able to spend the bitcoin or send it to another account.

iOS

  1. Download and install the Breadwallet app from the App Store.
  2. Open the Breadwallet app.
  3. Press the Menu button in the top-left corner.
  4. Press the Import Private Key button.
  5. Scan the QR code on the paper wallet labelled “Bitcoin Private Key.”
  6. You can now spend your bitcoin or send it to another account.

Your bitcoin is now stored in an account that only you control – no single third party can stop you from sending or receiving bitcoin with your account. To keep your bitcoin safe from hacking, make sure that you do not download any viruses or spyware onto your computer. Look into using a hardware wallet to protect the keys that unlock your Bitcoin account.

 

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