Selling bitcoin from a paper wallet I'm looking to sell bitcoin from a paper wallet into fiat.
So far my research is suggesting that a good way of doing this may be to transfer the paper wallet to LocalBitcoins wallet and sell from there. As I understand it, this incurs a fee to bring into the LocalBitcoins wallet, and then a fee to sell. In order to get the paper wallet BTC into the LocalBitcoins account, I would surely have to import the paper wallet into a software wallet first in order to transfer them to LocalBitcoin.
This means it would be something like:
Paper Wallet &gt; Software Wallet &gt; LocalBitcoin Wallet &gt; Sell on LocalBitcoin
The above seems quite convoluted. I don't mind convoluted if it saves on money and is relatively secure. But it would be good to get some advice on either reducing the number of steps in this process or an improved method of selling from a paper wallet. Note that I want to spend all of the BTC in the paper wallet (which is a fraction of a BTC) so the software wallet does not need to be trusted beyond the importing/spending part of the process.
Also, if I must do the software wallet first, would be good to get recommendations on good software wallets. I assume I can spend bitcoins from a software wallet that I have &quot;imported&quot; my paper wallet into rather than &quot;sweeped&quot;?
I'm using the term &quot;software wallet&quot; to include online hosted wallets and local computer wallets alike here. But will play close attention to any advice given on this.
I also have a Bitcoin.com account, if that's any use.
Since the LocalBitcoin wallet doesn't have a private key import function, you can't shorten the number of steps.
You can use Electrum, it's very popular and it has both &quot;import&quot; and &quot;sweep&quot; functions. If you don't want to trust it (I do trust it, unless the computer has malware) you can use it on an airgapped computer.
That's all you need to know, good luck!