Let's say I have a hot wallet that has passphrase encryption enabled. Then let's say a large withdrawal needs to occur but the hot wallet has insufficient funds and a transfer from cold storage is needed.

If that is a spend transaction from cold storage, then those funds cannot be sent from the hot wallet until after one confirmation. So the withdrawal request isn't served immediately and instead possibly is delayed by tens of minutes.

If I have an address that already has confirmed funds, and import that into the hot wallet then that can be used for spending right away. But let's say I don't want to transfer the private key unencrypted to the hot wallet. I'ld like to simply transfer the private key which has already been encrypted and import that.

Is it at all possible to do this?

  • 1
    To do that you would need your wallet's encryption key somewhere else to create the encrypted private key. You are probably better off using independent encryption to protect the transfer of your private key, then import it unencrypted. – Jürgen Strobel Sep 15 '12 at 15:15
  • Jürgen, care to make that comment into an answer? – Colin Dean Nov 24 '12 at 5:30

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