2020 Import Paper Wallet??

[CasperHxR]

Hello All,

I can't seem to find out how to import a paper wallet anywhere. I made a paper wallet from bithomp and deposited some xrp from crypto.com app. There is more than 20 xrp in the wallet, but I don't know where to import the wallet to be able to use the xrp. Most sites just show you how to make a paper wallet and the only info I've found is to use the Toast wallet to import. However, Toast wallet announced that the project is dead. The Toast website tells you to use another wallet. That is why I went with bithomp. Now I'm stuck... Does anyone know of a way to import an xrp paper wallet in the year 2020??

Thank you.

[ixarepe]

Xumm has the ability to import your secret key (in the app it is called the 'family seed')

[CasperHxR]

Awesome! Thank you ixarepe. I downloaded the app and I see the import feature. I will test it tonight.

[criptoeMOM]

Did xumm work for you?

Im in the process of making a paper wallet as well and want to know steps for putting in and putting out.

And do i put all my xrp into paper wallet i dont plan on doing anything but hold.. Its currently on CB.

[ixarepe]

4 hours ago, criptoeMOM said:

Did xumm work for you?

Im in the process of making a paper wallet as well and want to know steps for putting in and putting out.

And do i put all my xrp into paper wallet i dont plan on doing anything but hold.. Its currently on CB.

Although paper wallets are considered safe you still have to trust the software/website and your computer not having Spyware when generating the secret key. 

Personally I prefer a hardware wallet like the nano s which should be safe even on an infected computer. 

Btw. you can also use it for 2FA to login into Binance (not sure about CB) which is considered a safer option than 2FA on your mobile. 

 

Edited August 14, 2020 by ixarepe

[Dogowner5]

12 minutes ago, ixarepe said:

Personally I prefer a hardware wallet like the nano s which should be safe even on an infected computer. 

 

While I don't disagree entirely with that, I do think there is no system safer than an offline, never connected pc creating a paper wallet using verified libraries.  However that is not without it’s possible pitfalls,  so it’s probably safer for most people to use hardware wallets until crypto goes much more mainstream.

Even hardware wallets are susceptible to a man in the middle attack,  although you can take steps to mitigate that risk.  Simply assuming “it’s hardware so it’s safe on an infected computer” is not enough.

https://news.bitcoin.com/ledger-addresses-man-in-the-middle-attack-that-threatens-millions-of-hardware-wallets/

 

[MalluJohn]

Hi guys,

I have three questions. Hoping someone can chime in with an answer.

1. If I transfer xrps from a paper wallet to xumm, does xumm act as a different wallet and require the same 20 xrp min balance in XUMM too? That would mean 20 locked in paper wallet and another 20 in xumm. I hope this is not the case. 
2. If I transfer only part of my xrps from my paper wallet to xumm, does it affect the security of remaining xrps on my paper wallet? If xumm is compromised does that mean the paper wallet will also be compromised?
3. Is XUMM the best way to transfer part of the balance in a paper wallet to an exchange of our choice? Or are there better alternatives out there?

Thanks.

[Flintstone]

@MalluJohn You can import a paper wallet to XUMM or any other wallet. This uses the same key-pair you generated for your paper wallet. Only newly created wallets/key pairs require funding.

You can transfer XRP from your paper wallet to an exchange using an offline wallet like Bithomp tools, or importing your paper wallet to the likes of XUMM and doing the transfer from there.

[MalluJohn]

4 minutes ago, Flintstone said:

@MalluJohn You can import a paper wallet to XUMM or any other wallet. This uses the same key-pair you generated for your paper wallet. Only newly created wallets/key pairs require funding.

You can transfer XRP from your paper wallet to an exchange using an offline wallet like Bithomp tools, or importing your paper wallet to the likes of XUMM and doing the transfer from there.

Thanks. I see that this Bithomp tools are no more supported. I had made my paper wallets couple years back using those. Can you also comment on 

"If I transfer only part of my xrps from my paper wallet to xumm, does it affect the security of remaining xrps on my paper wallet? If xumm is compromised does that mean the paper wallet will also be compromised?"

 

Thanks.

[Flintstone]

Yes, as your paper wallet and XUMM would be using the same key-pair.

If you create a new address in XUMM, then you would have to fund that new address with 20XRP and you would have 2 wallets.

Bithomp tools is still fully functional and safe to use, just no more updates. You can use it to send XRP to a new XUMM wallet if you wanted too, or you can use it to do the AccountSet transaction for the Flare airdrop.

[BillyOckham]

2 hours ago, MalluJohn said:

Thanks. I see that this Bithomp tools are no more supported. I had made my paper wallets couple years back using those. Can you also comment on 

"If I transfer only part of my xrps from my paper wallet to xumm, does it affect the security of remaining xrps on my paper wallet? If xumm is compromised does that mean the paper wallet will also be compromised?"

 

Thanks.

The XRP are not in the wallet.

They exist on the XRPLedger.  The wallet just holds the keys to the XRP address.  So if you import the key into Xumm there is no ‘partial’ aspect.  The keys access the XRP so it’s all or nothing.

[BillyOckham]

I just realised a new analogy I can use.   I don’t know if people are still familiar with it though...   (and I’m not sure they still exist in that form).

 

The situation is exactly analogous to a old time Swiss bank numbered account.  The money (XRP) is in the bank (the XRPLedger) and whoever has that number can move the money around.

So XUMM, or the paper wallet, or a LedgerNano hardware stick, all are just ways to store that number ( in this case the character string that is the secret key starting with an ‘s’ ).
 

The bank won’t let you do anything with the money unless you can recite the number.  If you can,  then you have total access.

The difference in the Swiss bank analogy is that the public can see all transactions and balances for all accounts on the XRPLedger but the Swiss bank account is hidden.

Edited November 21, 2020 by BillyOckham

[JASCoder]

4 minutes ago, BillyOckham said:

The XRP are not in the wallet.

They exist on the XRPLedger.  The wallet just holds the keys to the XRP address.  So if you import the key into Xumm there is no ‘partial’ aspect.  The keys access the XRP so it’s all or nothing.

Thanks for trying to set peeps to the correct understanding on WHERE the zerps are, Billy-san.

If I had a drop for every time someone's comment triggered me on this "wallet-is-the-container" misconception... I could prolly buy a Starbucks coffee by now !!

rotfl

The only other trigger that just drives my ocd nature nuts, is the frequent "it's" misspelling people do !!
ARG !!! 

It's "its" for the possessive case, and "It's" is the contraction of "it" and "is."

There, I feel better now too

[BillyOckham]

4 minutes ago, JASCoder said:

Thanks

It’s no worries mate!     

[JASCoder]

5 minutes ago, BillyOckham said:

I just realised a new analogy I can use.   I don’t know if people are still familiar with it though...   (and I’m not sure they still exist in that form).

 

The situation is exactly analogous to a old time Swiss bank numbered account.  The money (XRP) is in the bank (the XRPLedger) and whoever has that number can move the money around.

So XUMM, or the paper wallet, or a LedgerNano hardware stick, all are just ways to store that number ( in this case the character string that is the secret key starting with an ‘s’ ).
 

The bank won’t let you do anything with the money unless you can recite the number.  If you can,  then you have total access.

The difference in the Swiss bank analogy is that the public can see all transactions and balances for all accounts on the XRPLedger but the Swiss bank account is hidden.

No one should have called these secret key manager / ledger user interface apps "wallets."
SMDH

I've often made the point that you can toss your Nano S into the ocean, and your zerps are still accessible, ASSUMING you have your secret key (or the means to recover it).

ALWAYS plan for disaster recovery and custodial inheritance.