Litecoins are often considered as Silver of cryptocoins where Bitcoin is Gold. Litecoins are fairly gaining their momentum along with Bitcoins. With rising popularity of Litecoin, hackers are now giving same attention to steal your precious coins. Just like bitcoin, Paper wallets (if done properly) are the safest way to store your coins in cold storage, in previous post we already covered, How To Create Litecoin Paper Wallet in this post we’ll show you how to Import Litecoin Paper Wallet to QT Wallet.
Today we’ll discuss how to import paper wallet private keys in to Litecoin QT wallet. If you haven’t already have a wallet on your PC then follow the instructions here. Official Litecoin QT wallet supports an “importprivkey” RPC method for this purpose. Following are the instructions to import paper wallet.
Import Paper Wallet to Litecoin QT Wallet :
Note : Although this process is well tested over the time you should always take another backup of your wallet.dat file before starting (instructions here).
Step 1 : Launch your Litecoin-QT client in Offline Mode. This is more secure to import private keys. Once QT client is up, go to Help >> Debug window from the menu bar and then click on “Console ”.
Step 2 : If your wallet is encrypted you must unlock it first. If not just skip this step and follow step 3. To unlock your wallet, run the following command without quotes, where 600 stands for the seconds your wallet is unlocked.
walletpassphrase "Your Passphrase" "600"
Step 3 : Now import your private key using following command without quotes.
importprivkey "yourPrivateKey" "Label"
Step 4 : Wait for 2-5 minutes while Wallet imports your private key, and during this time it looks like you application has hung. After 2-5 minutes check your address book for newly imported address, by closing the Debug window and going back to your address book. You should see the address here.
If you need to import more keys, just repeat the instructions above.
Step 5 : That’s it. Now you can send these coins to wherever you want.
Note : After importing this paper private key, you might consider destroying the original so it cannot be found and your funds stolen.