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I'm a newbie and today I have wanted to create a new wallet and I have confused when Bitcoin Core (v. 0.21) has asked me for additional information.

It asks me:

  1. Encrypt wallet - Encrypt wallet by a password.
  2. Disable Private Keys - ???
  3. Make Blank Wallet - ???
  4. Descriptor Wallet - ???

What do these ??? mean?

What is the difference between Enable\Disable Private Keys?

Whare can I read detailed information?

I have found reviews only on the Internet and they have had two or three sentences about my questions.

Can anyone explain to me what does it mean?

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Disable Private Keys

the wallet is set in watch-only mode, only public keys can be imported into wallet.
You can use it, for example, to track transactions or generate PSBT transactions to be signed elsewhere.
(if this option is enabled you don't need Encrypt Wallet, because only private keys are encrypted)

Make Blank Wallet

the wallet starts out with nothing in it, but private keys can be added later to the wallet via import or sethdseed.
(this is needed if you set Disable Private Keys)

Descriptor Wallet

A descriptor wallet is one which stores output descriptors and uses them to create addresses and sign transactions.
Wallets that use descriptors internally shouldn't have any noticeable effect to the user, they should only be handled when users want to import their wallet.
(for further info you can see here: What are output descriptors?)

You can also find other useful info here:

Bitcoin Core 0.21.0 Release Notes

What's Coming To The Bitcoin Core Wallet in 0.21 by Andrew Chow

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  • As I understand if I want to create an encrypted wallet with addresses and non-watch-only mode I have to click on the Encrypt wallet only. And then click OK. Am I right? – B L Apr 26 at 3:30
  • yes, exactly. . – leevancleef Apr 26 at 5:29
  • Thanks a lot. :) – B L Apr 26 at 5:33

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