Using my Litecoin paper wallet

litecoin

#1

I have created a paper wallet for my litecoins using walletgenerator. I am unsure of how to transfer litecoins from my paper wallet and how to check balance of my paper wallet. Please advise. Thanks.


#2

you can check the balance at any block explorer…do a search for “Litecoin Block Explorer” and you’ll find this:
http://explorer.litecoin.net/
and www.blockcypher.com which are both great ones…

type your public address in the search field and to use your coins you will need to sweep them to a digital wallet…some phone wallets offer a sweep function…I hear mycelium and jaxx might but personally I recommend only using core software
you can download Litecoin Core at litecoin.org for your device (25+GB of Drive Space needed for blockchain)and after the block chain has finished syncing you will click Help, Debug Window, then click Console
when that opens you will type importprivkey (followed by the private key on the paper wallet/ aka “Spend Key”)
once that is done type rescan if required and when that is done send your coins to a new receiving address


#3

Bakd247, thanks for the information, can I downloard litecoin.core on my computer or does it have to be on smart phone? Have a great week. James


#4

you would download litecoin core onto your computer and use a wallet such as mycelium or jaxx or Electum for your cell phone…I recommend only using cell phone wallets for small or temporary storage…you need around 25 GB of Drive space to store the blockchain and it take about 2 days at most to download on a cable connection…longer on slow wifi

you cant use a core wallet right away because it has to sync with the rest of the network first…where as wallets like the ones you can use on your phone use third party servers who are using core wallets and issuing address’ using 12 word seeds…which are NOT private keys…they are backup phrases

a private key is the only way to truly store a Bitcoin or Litecoin…because if a seeded wallet server goes down…all the coins that are relayed to the address’ it generated go with it…
with core wallet you can save a backup file on a usb flash drive which will recover your wallet if your computer ever crashes…make sure to always use a spending passphrase too /aka wallet encryption

go to litecoin.org and you will see all the wallets available for download for your devices


#5

bakd247, thanks for all of your assistance, it has been very helpful , this is an understatement. James


#6

This post was flagged by the community and is temporarily hidden.