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How to transfer XRP from paper wallet to Binance

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Definite newbie here!! Can't figure out how to transfer XRP from my paper wallet back to Binance. When I select deposit on the Binance system I am not given anywhere to input data necessary to complete a transfer. I am lost.  Any help appreciated!

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It depends on the vendor who generated the wallet. I just spent the past three hours going through the archaic interface on Bithomp to complete the same action. To add insult to injury, after the initial transfer from my primary online wallet to the paper one at Bithomp, I was charged approximately 10 USD for the user experience, and was subjected to the exorbitant fee without full disclosure from the vendor beforehand.

Just be patient and read/watch as many tutorials as you can. The ah-ha moment will eventually come. But it will cost you a ridiculous amount of psychological pain and some crypto.

Edited by donald4k

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On 9/26/2018 at 6:45 PM, dmeals said:

Definite newbie here!! Can't figure out how to transfer XRP from my paper wallet back to Binance. When I select deposit on the Binance system I am not given anywhere to input data necessary to complete a transfer. I am lost.  Any help appreciated!

  1. Download and install Toast App on your mobile device
  2. Import your private key into the app
  3. Send XRP to your binance XRP account (important: !! - do not forget to input your deposit tag in addition to your XRP account otherwise your funds will be lost)

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On 9/26/2018 at 11:45 PM, dmeals said:

Definite newbie here!! Can't figure out how to transfer XRP from my paper wallet back to Binance. When I select deposit on the Binance system I am not given anywhere to input data necessary to complete a transfer. I am lost.  Any help appreciated!

A friend of mine recently had the same problem on his phone. Try it from a webrowser - phone or pc.

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10 hours ago, donald4k said:

It depends on the vendor who generated the wallet. I just spent the past three hours going through the archaic interface on Bithomp to complete the same action. To add insult to injury, after the initial transfer from my primary online wallet to the paper one at Bithomp, I was charged approximately 10 USD for the user experience, and was subjected to the exorbitant fee without full disclosure from the vendor beforehand.

Just be patient and read/watch as many tutorials as you can. The ah-ha moment will eventually come. But it will cost you a ridiculous amount of psychological pain and some crypto.

A transfer from a paper wallet to Binance has no fee.

In your instance it sounds like you have created a new wallet and 20xrp remain in your original wallet. That would explain a missing $10.

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I never said anything about Binance, nor did I mention a transfer fee. I said that I was charged $10 for using Bithomp's wallet, and they did not disclose the charge up front. There is indeed 20 XRP in the wallet, but its status is "reserve," and I can't remove it. I assume it's forever lost to Bithomp. Is this not incorrect? 

Edited by donald4k

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2 hours ago, donald4k said:

I never said anything about Binance, nor did I mention a transfer fee. I said that I was charged $10 for using Bithomp's wallet, and they did not disclose the charge up front. There is indeed 20 XRP in the wallet, but its status is "reserve," and I can't remove it. I assume it's forever lost to Bithomp. Is this not incorrect? 

20 XRP is a base reserve, If the reserve would be changed in the xrpl then some of them you will be able to move.

Bithomp doesn't charge for using a paper wallet, it's XRPL locks your XRP. You can count it a security lock up, as you have a full control of your XRP.

If you keep XRP on the Binance or any other exchange, the they have their 20 XRP locked on their XRP account. Though in that case your XRP on their account also, they have control of it. If the exchange got hacked, bankrupt etc you might loose your XRP. That won't happened if you use paper wallet, keep it secret and away from water/fire etc. (Cryptosteel) 

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4 hours ago, donald4k said:

There is indeed 20 XRP in the wallet, but its status is "reserve," and I can't remove it. I assume it's forever lost to Bithomp. Is this not incorrect? 

That 20 XRP is the reserve that the XRP Ledger places on a wallet....   its nothing to do with any institution or company,  it is part of the XRP protocol.

The reason it exists is to stop a bad person from trying to bring down the XRPLedger by spamming with millions of wallets.  Because it costs the reserve XRP fee,  that attack is not feasible.

The amount of the reserve has changed over time as XRP value has changed, and it could be lowered in future if XRP value moons and the validators majority votes to lower it.  For now just think of it as a spam protection amount and know that it's doing good, and that if XRP value gets massively higher it probably won't be locked away forever.

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On 9/26/2018 at 6:45 PM, dmeals said:

how to transfer XRP from my paper wallet

Your XRPs are not "in" your paper wallet. Your XRPs are stored on the XRP ledger, which is replicated on many computers around the world.

Your paper wallet is a paper record of your private key (often presented as a 29-character secret starting with "s"). It probably has your public address printed on it too. When you move XRPs out of your public address, you use the secret to sign the transaction — that's how the XRP ledger 'knows' you really mean it.

Edited by tev

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17 hours ago, donald4k said:

without full disclosure

It's very well documented in many sources, such as this one.

You generated a new address inside your web browser without any data going over the internet. Consequently, bithomp have no influence over your new address. You then used your other wallet to broadcast a transaction to the XRP ledger that activated the new wallet with no involvement from bithomp.

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On 9/26/2018 at 6:45 PM, dmeals said:

Can't figure out how to transfer XRP from my paper wallet back to Binance

just to be clear.. your xrp arent on the paper wallet. your paper wallet has a private and public key.

those keys give you access to your xrp. ONLY share your address starting with 'R'.

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Now that I have been properly schooled, I will return to my little room and my cloistered life. Thank you for the information.

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6 hours ago, Warbler said:

20 XRP is a base reserve, If the reserve would be changed in the xrpl then some of them you will be able to move.

Bithomp doesn't charge for using a paper wallet, it's XRPL locks your XRP. You can count it a security lock up, as you have a full control of your XRP.

If you keep XRP on the Binance or any other exchange, the they have their 20 XRP locked on their XRP account. Though in that case your XRP on their account also, they have control of it. If the exchange got hacked, bankrupt etc you might loose your XRP. That won't happened if you use paper wallet, keep it secret and away from water/fire etc. (Cryptosteel) 

One last comment here, then I will lurk for a while. My apologies to you and your staff at Bithomp. I know just enough to be dangerous and obviously not enough to be giving sage advice. 

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