John Jacques's Avatar
John Jacques
published in Blogs
Feb 12, 2021
How to Cash-Out Cryptocurrency Stored in a Paper Wallet

How to Cash-Out Cryptocurrency Stored in a Paper Wallet

Paper wallets are extremely useful tools – beyond being one of the most popular and secure cold storage methods, they make it simple to transfer coins between owners. Adding and transferring coins from a paper wallet is common, but cashing-out is much less so. Luckily, software wallets incorporate tools to make this process straightforward.

Sweep Your Wallet

Your paper wallet is sort of like a piggy bank – you can add funds whenever you want, but it makes the most sense to withdraw them all at once. This is especially true for security purposes, as limiting exposure of your paper wallet’s private key is paramount to keeping your funds secure. You can access the funds on your paper wallet by “sweeping” (or importing) them to either a live wallet (like Trezor or Exodus) or an exchange service (like Coinbase).

Most services allow you to import them directly from your wallet’s private key, but there are two key exceptions. The first is BIP38-encrypted private keys – there are very few services that can directly import from an encrypted key (fun fact: these keys always begin with “6P”, rather than “5” for unencrypted keys). In these cases, you will need to use the “Validate” feature on the key generator to extract an unencrypted Wallet Import Format key before you sweep the balance.

 

 

The second exception is Coinbase, one of the most popular digital currency exchanges. Coinbase does not allow users to import funds directly from a paper wallet. Fortunately, software wallets offer an easy solution.

Transferring from a Paper Wallet to Coinbase

Coinbase, one of the most popular digital currency exchanges, is a vital marketplace for bitcoin sellers. Because users cannot directly import into it from a paper wallet, you must use a software wallet instead. Mycelium or Bread are great options – both are trustworthy, and you can use them as an intermediary to send coins to Coinbase.

After you have downloaded and set up Mycelium or Bread on your phone, you will need to locate your Coinbase receiving address. Use a separate device to log in to your Coinbase account. Under the “Accounts” function, click the “Receive” button to display a QR code on the screen.

Next, open your paper wallet and find your private key and corresponding QR code. Using your software wallet, scan the private QR code from your paper wallet. These settings are slightly different depending upon which service you use – in Mycelium, select the menu option for “Cold Storage”; in Bread, you will click “Menu” —> “Settings” —> “Import Wallet”. If you are using Mycelium, congratulations – you have successfully imported your funds to Coinbase! With Bread, you have transferred the funds from your paper wallet to your software wallet, and just need to complete an additional transfer through to send your coins to Coinbase. All that is left to do is sell your crypto and hopefully set out to make some cold, hard cash!

Related Tickers: BCH.X
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 07, 2021
4 Tricks Hedge Funds Use to Get Ahead

4 Tricks Hedge Funds Use to Get Ahead

If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.
John Jacques's Avatar
John Jacques
published in Blogs
Mar 22, 2018
A.I. Stock Market Predictions: Head & Shoulders

A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I.  Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Jul 10, 2020
3 Stocks to Buy if Coronavirus Second Wave Hits

3 Stocks to Buy if Coronavirus Second Wave Hits

By analyzing market trends from the first wave, you can predict behavior for the second. Technology stocks have performed at historic levels this year, but the market is severely overbought.To compensate for that, look at performance during Q1 and Q2, the height of global Covid shutdowns.
Edward Flores's Avatar
Edward Flores
published in Blogs
Feb 06, 2021
How to Become the Millionaire Next Door

How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations.  As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.
Alla Petriaieva's Avatar
Alla Petriaieva
published in Blogs
Feb 23, 2021
Is Ethereum’s Bomb about to Explode?

Is Ethereum’s Bomb about to Explode?

Ethereum’s software is set for an update in October.Until it is finished, participants in the Ethereum blockchain must determine how to delay the difficulty bomb – code that necessitates a steadily increasing amount of computer power to mine blocks and unlock rewards – that is already in place.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Aug 07, 2018
When Is the Next Recession Coming?

When Is the Next Recession Coming?

However, we also know that economists predicted 22 recessions out of 11 that took place since 1945. Are there real recession signs we should watch for?Indeed, the answer is yes, and here are a few very important ones: The first one is almost obvious and known to everyone – it is the Fed.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 22, 2020
Central banks have been buying $2.4 billion in assets every hour for the past two months

Central banks have been buying $2.4 billion in assets every hour for the past two months

Some $17.8 billion has been poured into  bond markets over the past week, the biggest move in more than three months.Around $3.5 billion has been invested into gold, the second largest on record. 
Rick Pendergraft's Avatar
Rick Pendergraft
published in Blogs
Feb 07, 2021
Mid-January Short Interest Report Shows 8 Stocks with Good Fundamentals and High Short Interest
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 10, 2021
How to Start Trading Penny Stocks

How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 08, 2020
US unemployment rate jumps to 14.7%, the highest in series history

US unemployment rate jumps to 14.7%, the highest in series history

The U.S. economy’s employment fell by -20.5 million in April. The coronavirus crisis led to unemployment rate soaring to 14.7% in the U.S, the highest rate in the Bureau of Labor Statistics-tracked series history that goes back to 1948. However, the figures were better compared to several economists'/analysts' forecasts of 22 million job losses and 16% unemployment rate.  Another unemployment measure that includes those who have stopped looking for work as well as those holding part-time jobs for economic reasons also touched an all-time high of 22.8%.