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Moving Bitcoin from a paper wallet to an exchange

Right now the Bitcoin (BTC) price is skyrocketing! Amazing if you own only a piece of a coin. Maybe you were smart and stored the coins on a cold storage. The most unexpensive and one of the most secure being a paper wallet. I recommend the ones from Bitcoin Paper Wallet. The guy just nails it, super comfortable to set up, easy to print. Lot’s of no fluff info, and he even responded in a day when I thanked him profusely.

So, maybe now you’re thinking it’s time to move those coins to an exchange to profit from the boom, before the inevitable bust, and then buy more once the bust recovers. So you want to move the BTC to an exchange, to cash those lovely Bitcoins out at prime rate, right?

I personally like and use Kraken. Fantastic exchange, just rock-solid. I even invested a tiny bit in their crowd-funding 2 years ago.

To get the Bitcoins from your paper wallet to an exchange you have to sweep the paper wallet. While you could type the private key, I recommend using an app like Coinomi that uses your phone’s camera to scan the QR code your paper wallet probably has.

Install Coinomi on your phone, create a wallet, really write down and verify the recovery phrase!! Please!! And then select Bitcoin, as well as any Bitcoin hard forks you might be privy of. Then go to the Menu on the top left and select your Bitcoin wallet. In the upper right corner select the 3 dots and then choose sweep wallet. Coinomi will ask to access your camera if you just installed the app. Select OK and scan the QR code of your paper wallet.

Great!! Now Coinomi has access to the BTC stored at your address on the paper wallet. Transfer the part of your coins you plan on cashing out to a deposit address on the exchange of your choice. To store the rest please create a new paper wallet. Just for safety.

Good luck and lot’s of profit!

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