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PSA - Paper Wallet to Hardware Wallet - Offline

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Now is a good time to reconsider your opsec if you are still holding BTC on a paper wallet. If you think a paper wallet is good enough, that's your decision.

Here is your workflow:

  1. Buy a hardware wallet and set it up per the manufacturer instructions
  2. Grab two laptops (one will be online one will be offline) and two USB sticks
  3. Download and verify Tails. Install on USB stick per Tails documentation
  4. Download and verify Electrum on the online laptop
  5. Boot tails on the offline laptop, turn off Bluetooth and WiFi
  6. Run Electrum on the online laptop and import the public key to create a watch-only wallet. This will show your BTC balance.
  7. Run Electrum on the offline laptop and import the private key to create a wallet that can offline sign transactions.
  8. On the online laptop, create a transaction paying the max amount to a receive address from your new hardware wallet.
  9. Preview that unsigned transaction and save it to USB flash.
  10. Load the unsigned transaction on the offline laptop, sign and save back to USB flash.
  11. Open the signed transaction on the online laptop, verify all information, broadcast.
  12. Verify that the transaction is pending on the blockchain explorer of your choice. Once included in a block, the transaction will confirm.

Enjoy your upgraded opsec!

submitted by /u/hansonr55
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