Using Paper Wallets for Consolidation

The chart shows three wallets, used to consolidate transactions, say from mining, faucets or anything else with a high transaction count.

Let's call them:
*1,"DTblahblahblahPublicKey1","6KblahblahblahPrivateKey1","QT Faucets"
*2,"DQblahblahblahPublicKey2","6JblahblahblahPrivateKey2","Paper Faucets"
*3,"D8blahblahblahPublicKey3","6KblahblahblahPrivateKey3","Paper Faucet Consolidation"

Now, as you can see, the main, QT wallet which is used as the receiving address is regularly flushed to a paper wallet. Or, since this is real data, it wasn't for many months, since I didn't know any better. And you can read about the grief I had sweeping it in various posts and comments I made while I was doing it. Needless to say, it was neither fun nor cheap.

The first paper wallet is in turn swept into a consolidation wallet, which may or may not be the ultimate destination for the coins. That depends on your circumstances. You may even choose to use another QT or lite wallet, or even an online wallet for this, since the transaction count is low.

As you can see, I've turned 2686 UTXOs (Unspent Transaction Outputs) into 319, and then into only 4.

The expensive part of this was sending over 2,000 UTXOs in small batches, since I couldn't sweep them or send them all at once. This got expensive, since the mining fee was about 1 doge per 6 inputs. And it was extremely tedious, having to use coin control to select the inputs one by one. Which is why I'm trying to save others the grief.

To sweep the wallets, you can use https://my.dogechain.info or any other wallet sweeper. Be sure to do this regularly, say every 100 transactions or so.

/r/dogecoin Thread Link - i.imgur.com