Hey guys, hopefully this isn’t breaking any rules. I have found some tidbits of info here and there, but was hoping that I could get reassurance I am going about all of this the right way. I am looking to send a few litecoins to a paper wallet to HODL long-term. From what I have read, here are the steps I have, and I just want reassurance that I am doing everything correctly so I don’t find out down the road that I lost my litecoin that I thought was safe.
Step 1: goto https://liteaddress.org/ and let it generate a litecoin address
Step 2: click the “paper wallet” button at the top
Step 3: Change “addresses to generate” from the default 3, to 1 (I would like to just send the LTC to one single wallet and not have it split between several, I would assume this is fine?). Do I need to check the BIP38 encrypt box by the way and enter a passphrase?
Step 4: Print the generated image that has a public litecoin address, as well as a private key
Step 5: Send small amount of LTC to the public address from my current wallet
Step 6: Go to http://explorer.litecoin.net/ and type in my public address to confirm it now holds the test amount of LTC I have sent to it
Step 7: Assuming step 6 confirms the LTC was received successfully, send the remaining LTC to the same public address the repeat step 6 to confirm the total amount of LTC balance is showing in my wallet.
Step 8: Consider making several copies of my printed paper wallet and laminate them to ensure they are not damaged or become faded and unreadable.
Any steps I am missing here? I was able to find this information through searching; however, I couldn’t find a single page that had all of this information in one page. Assuming the above steps are correct, can someone give their opinion on generating the BIP38 encryption? Thank you to this community, I hope this post is able to help others considering doing the same. Also want to add that I will still keep my current wallet with a balance in order to continue buying and spending LTC regularly