Transfer BTC from online wallet to paper wallet

1

I just wanted to post this here to make sure I am doing this exactly right.

  1. I created an online wallet with block chain dot info (cant post links with my rep)
  2. I am going to buy BTC's from bit bargain dot co dot uk and transfer the bitcoins to my online wallet created in step 1.
  3. I used this tutorial (http://fieryspinningsword.com/2013/12/01/how-to-create-a-reasonably-secure-bitcoin-paper-wallet/) to create a 'reasonably secure' paper wallet (I even wrote down my keys instead of printing them off as noted in the 'extra security' bit at the end)
  4. I shall then send all the BTC's from my Online wallet (step 1) to my paper wallet (step 3).

My question(s) are:

  • My paper wallet will still be secure? because I've only used the public key online — correct?

  • How can I confirm that the BTC's are in my paper wallet? I don't want to hold on to these suckers for 10 years, for them to be worth billions, to realise that I lost them in the ether when I come to sell/use them.

I used the tutorial to the letter, and took no further steps to create my paper wallet, if I missed something and it's not created properly, please let me know.

Jon Kyte

Posted 2013-12-08T12:48:10.193

Reputation: 113

I'm going to be pedantic here. There are three components to bitcoin addresses. 1: Private Key, 2: Public Key and 3: Receiving Address. The receiving address is a hash of the public key. A bitcoin address is the most secure when it has only ever had bitcoins sent to it as only the receiving address is publicly known. To spend the bitcoins you create a transaction which contains the public key and a signed transaction - knowing the public key will make it easier (by orders of magnitude, but still huge) for an attacker to brute force. – John – 2013-12-08T19:41:08.233

Answers

1

My paper wallet will still be secure? because i've only used the public key online - correct?

Sure, if the wallet was created securely in the first place then sending to it's public key (address really) poses no threat to it.

How can I confirm that the BTC's are in my paper wallet?

You can use a block explorer like blockchain.info or blockexplorer.com to check the balance of your paper wallet address.

Might not hurt to do a trial run with a small amount first.

Anonymous

Posted 2013-12-08T12:48:10.193

Reputation: 1 348