Bitcoin Day 14 (how to withdraw NZD from paper wallets)

For those not following, this is a crazy experiment explained in this post.

Damn, 2 weeks already. I'll write up a week 2 summary tomorrow. I have been a bit slack on writing these recently.

So today I had sandwichs for lunch, bought with the Mobil vouchers. I think I'm going to try and get a haircut this week, and approach some cafes I have in the first week. I'm also following up with the BitPOS guys in Oz.

So I'll use this post to outline how to get money out of the paper wallets I've been handing round. It is aimed at NZ, as I know how the banks here work. For those in AU, comment so the vendors there know how.

For the record, noone has redeemed them yet.

First, a bit about what the private wallet is. The private address down the bottom is meant to be private, if people see that, they can spend the money. You should assume that I have seen it (from a security point of view, as I printed it, and I didn't blindfold myself :P).

Second, we need an exchange to get the money out. Bitnz is a good as any one in NZ.

Third, we need some way to transfer the money from the paper wallet to bitnz. For that we need some wallet software. This could be on your phone, or in the cloud. I will talk about the cloud in this post just for those poor souls on Apple who don't have wallets in their store...

Right, so step 1. Sign up for a cloud wallet at When you create your account, you should make sure you don't forget your password, and write down anything it suggests you write down!! Once you create an account and login, you should see something similar to this.

Click on Import/Export (note that this may not show up on a mobile browser. I've filed a bug with, click I understand. There should now this:


From here, you can either type in the bottom code (case sensitive) under the Import Private Key option, or use your webcam. When it pops up a box asking to Sweep Key, click Sweep Key.

On the main tab it should now show some more money in your balance. Make sure you remembered your password!!. For now, we need to open a new tab to get an account on bitnz.

Open up a new tab at bitnz, fill in the form. You will have to check your email to confirm the account. Once logged in, click on the account tab, and under Bitcoins, click Deposit. This should have a page that will show an address (starting with 1, then a whole bunch of numbers and letters). Copy this address, and go back to the blockchain page.

Click on Send Money, and you should look like this.


In the To field, paste the address you copied from bitnz, and in the amount field, copy the number before BTC, in my case, 0.0206844 BTC. Click Send Payment. It should pop up a box saying you can't send that much, but you can click Adjust Amount, and it will work it out (transaction fee of roughly 0.0001 BTC normally).

Go grab a cup of tea/coffee, and come back in roughly 10-30 minutes.

You now want to go to the bitnz site again. You want to click on Account, then View Historic Transactions under Bitcoin. That should now show the transaction you just sent. Almost there!! You need to wait until this changes your balance on the left side of the screen, like this.


Once it shows up, click on Sell (you are selling bitcoin for NZD). Copy and paste your bitcoin balance into the Quick Sell Calculator, and enter in the amounts in the top box, and click Sell Bitcoins, and confirm. See this images for an example


You should now be able to click on Account, and you will notice your left hand side should show a NZD amount, and 0 BTC, like this images.


You can now click on Withdraw under New Zealand Dollars, and then fill in your details, and copy the amount from your balance. Confirm. Then wait til the next working day.

Hope that helps anyone, feel free to pass onto anyone.

If you can offer assitance, just do it! I'm on twitter as haquaman, on reddit as haquaman, on IRC as aquaman (no h), and email at hugh AT davenport DOT net DOT nz.

Feel free to donate to 155WivS5TdBdU1UMQVZNLodywzCUdLdBBk.