How to Redeem Value from Your Cold Storage Coin
Redeeming your Cold Storage Coin is just about as easy as adding value. There are a few important steps you can take to ensure your cryptocurrency is easy to redeem. Here are a few simple reminders to get you started:
- do NOT use any sharp objects or abrasives to clean the coin
- we made the security seal very tamper resistant and difficult to remove - don't be surprised if you need to clean the coin surface before scanning the QR code. WD-40 acts as a quick and easy solvent - works in seconds!
- if you're having trouble scanning the QR code, simply type the text into a QR code generator to create a scannable QR - case sensitive!
- the coin scans best on a quality phone in good lighting conditions - get a nice contrast for easy scanning.
- we recommend to only redeem value from your Cold Storage Coin ONCE - do NOT reuse! Once you scan the laser-etched private key, it is no longer safe or offline.
EXTREMELY IMPORTANT: software and apps change ALL the time, and many apps are not good and cannot be trusted. We work hard to keep these instructions up to date with the latest changes in the software we recommend, but please use your own judgment when redeeming value from your Cold Storage Coin.
#1 - Remove the tamper-evident security seal
There is a small, 0.5mm gap between the security seal and the inside edge of the coin rim. It's often difficult to get between the coin and the seal. Using your finger nail or other object that's not too sharp and won't scratch the coin, gently pry the plastic surface of the security seal away from the coin. Underneath the security seal, you'll find left behind a random destructive pattern tamper-evident residue.
#2 - Remove residue from the coin surface
To get a good scan, you'll need to remove the leftover tamper-evident residue.
After extensive chemical testing, we found that WD-40 is an easy to find & easy to use solvent that quickly desolves the residue, wiping away fast & without fuss. Other chemicals, like lighter fluid, paint remover & turpentine also work well, and will not damage the surface of the coin. Rubbing alcohol also works, but requires a lot more time and effort.
Whatever you do, and regardless of the chemicals used, DO NOT use any sharp object to scratch off the residue. We designed the security seal to be tamper-resistant, and the byproduct of this security is increased difficulty in removal. We tested and found a great balance between the two, but you can quickly damage the etching on the coin's surface by using a knive, nail, metal scraper, or steel wool. If you make a smeary mess of the coin surface, stop, secure your coin, take a break, and track down some WD-40. It's available lots of places and will quickly return your coin to scan-ready condition.
#3 - Open your hot wallet for importing
Soon, the Cold Storage Coin app will offer a wallet import feature. Until then, choose a wallet you trust. We like the Bitcoin.com app, available on both iOS or Android.
If this is the first time using the Bitcoin.com app, create a new wallet. Do NOT try to import your wallet at this time - the app will not recognize your private key. First, you will create a NEW wallet on the app.
#4 - Find the app import function
Once your wallet is setup, press the QR button in the top-right corner of the app.
Each app is a little different, so please consult your app's documentation on the best way to import a wallet from cold storage. In other apps, check the "Settings" or "Wallet Addresses" section of the app, where you'll find the place to import a wallet.
#5 - Scan the coin QR code
Now, one quick scan and your cryptocurrency is ready for transferring!
Scanning can often be a little tricky. All you need for the private key QR code to scan is a little patience, a good quality camera, and some nice lighting contrast. Watch out for shadows, reflections and other optical interferences that can make it difficult to catch the right angle of the QR code. If you're not able to scan the QR code, the complete private key is etched around the rim of the coin.
The value from the coin will be "swept" into your hot wallet. After that, use the app to send the crypto to wherever you like!
How to Redeem Value from Difficult Coins
Not all coins or blockchains are the same. Some coins - like Ethereum - are more easily redeemed using other methods. Take a look at the video below for specific instructions for other coins.
ETH Ethereum Redemption
For Ethereum, head on over to MyEtherWallet.com and follow the instructions in the video.
XMR Monero Redemption
Monero - a coin designed to keep your crypto transactions private - is also a bit of a challenge.
The hardest part of redeeming XMR is knowing the block height of the transaction that you used to fund your XMR Monero coin in the first place. Hopefully, you wrote down the block height, or easier yet, you remember the approximate date you sent XMR to the cold storage wallet. With either of these pieces of info, it's actually pretty easy to redeem the XMR using Feather, a free desktop wallet.
Once you have Feather wallet installed, use the seed phrase from the coin (you can type it or copy it from the laser-etched QR code), import the wallet into Feather. After this, Feather will ask you for the restore height. If you don't know this, then you will have to GUESS based on the date you sent the transaction to the XMR Monero coin in the first place. You can go to the XMR Monero blockchain explorer here to browse block heights and timestamps. You will have to find an approximate block height PRIOR to the estimated transaction date.
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