Questions tagged [wallet]

A wallet manages a user's private keys. Wallet software is used to send and receive Bitcoin. It also keeps track of the user's transactions, addresses, and balance.

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What's the difference between a wallet and an address?

Bitcoin seems to have the concept of a wallet and an address. Are they the same thing? If not, how do they differ?
Colin Dean's user avatar
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47 votes
8 answers
108k views

Where are the user's bitcoins actually stored?

On the person's computer? On bitcoin.org? :) Where does that information reside that tells others and me how much bitcoins I have? I assume it can't be on my PC because I could easily hack the file ...
Alex's user avatar
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45 votes
2 answers
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What is the coin selection algorithm?

When creating a transaction in the standard client, what is the algorithm used to determine which unspent outputs will be used as inputs? Has this changed since the first version? What different ...
Andrew Jones's user avatar
44 votes
10 answers
12k views

How can I keep my wallet secure?

The standard Bitcoin client does not encrypt wallet files, so any malicious user that gains access to this file will be able to transfer all the coins to their own wallet. Furthermore, if I lose the ...
Michael McGowan's user avatar
44 votes
1 answer
10k views

What do the different .dat files contain?

What data do different Bitcoin .dat files contain? How about the other files in the same folder? The wallet.dat file is somewhat documented and there are some ways to convert it to human-readable ...
ThePiachu's user avatar
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41 votes
3 answers
49k views

Can I use my wallet on different computers?

I'm used to synchronize my data on different machines. Depending on the data I use SVN, Dropbox or SSH (Unison). Is this possible with the bitcoin wallet, too?
Thor's user avatar
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40 votes
3 answers
49k views

Who gets Bitcoin transaction fees?

Whenever I send bitcoins from one wallet or one exchange to the next there is always a fee. This makes sense with the exchange sites, they are just collecting the fee so they can make a living. What ...
Albert Renshaw's user avatar
39 votes
5 answers
9k views

What is a deterministic wallet?

It sounds as if it's a process that enables a wallet to be rebuilt from a passphrase, or from several fragments scattered about. Could someone provide a detailed technical explanation?
Gary's user avatar
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33 votes
1 answer
53k views

How can I restore my wallet?

I just purchased a new laptop and I want to decommission my old one. I have a back-up of my wallet.dat file copied to my new PC. What do I need to do to restore it to my Bitcoin (Windows) client? ...
RLH's user avatar
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31 votes
1 answer
14k views

How is a wallet's balance computed?

I am wondering on how a wallet's balance is computed. Basically, from what I've read I assume that you look back at all transactions involving all the keypairs of a given wallet. Adding up all the ...
marcus's user avatar
  • 311
30 votes
2 answers
18k views

How can I combine all the tiny amounts I've received to minimise transaction fees, and do I need to?

Important parts in bold, for those who don't want to read the detail! I've received lots of tiny transactions, in amounts sometimes as low as 0.000003BTC. Even though I've also received (relatively) ...
Highly Irregular's user avatar
28 votes
6 answers
7k views

Why is the disappearance of Mt Gox a problem?

I'm sorry if this is a stupid question, I'm not a bitcoin user and may lack important information. My understanding was that each bitcoin user has a wallet on his harddrive or wherever, where he ...
mart's user avatar
  • 393
28 votes
2 answers
9k views

Is there some way to merge two wallets or to import/export addresses?

I've got one wallet.dat from my laptop and another on my desktop, each containing various (different) receiving addresses that I use pretty often. I'd like to merge them into a single wallet.dat so I ...
David Perry's user avatar
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27 votes
2 answers
37k views

What is the wallet "word seed" that is commonly used in popular wallets clients and what does it do?

I've been using a pretty old version of Multibit classic and recently decided to upgrade. I tried out Multibit HD and Electrum and noticed that both have me set up a wallet with a "word seed"...
user avatar
25 votes
1 answer
16k views

How secure is blockchain.info?

How secure is using a wallet on blockchain.info? How do you evaluate the different sites that provide wallets?
B Seven's user avatar
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25 votes
2 answers
4k views

In order to reduce fees, can I 'consolidate' my wallet by sending the entire balance to a new address in the same wallet?

My balance is currently made up of lots of small amounts I know I'm not going to be using my bitcoin wallet for a while, so I don't care if the consolidation transaction is slow. Would creating this ...
Julian Noble's user avatar
25 votes
8 answers
3k views

How can a single person operation keep a collection of online wallets secure?

While this question is similar to others about securing wallets, I think it merits a question of it's own. One thing that has dissuaded me in the past from running an online wallet service of some ...
Gary's user avatar
  • 7,593
23 votes
2 answers
54k views

How are public and private keys related to the wallet?

I understand that all the Bitcoin protocol is based on an asymmetric cryptography. A user gets 2 keys (public and private). How do these keys connect to the Bitcoins? How are the keys are related ...
Sean Black's user avatar
23 votes
3 answers
3k views

What happens when someone sends bitcoin to my wallet?

I didn't get it. Should my wallet be online? What if it becomes corrupted before I make a backup? Can I use my backup wallet that was backed up few days ago?
ilhan's user avatar
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23 votes
7 answers
31k views

How do I get the public bitcoin address from a given private key in wallet import format offline?

I have made paper wallets. And I continually send what bitcoins I get to them. I'm paranoid that I've been sending bitcoins to the paper bitcoin addresses where somehow at sometime my saved private ...
user299648's user avatar
23 votes
2 answers
5k views

How should you backup your wallet?

How often? Is backing it up once enough? Any best practices to storing the backup?
ripper234's user avatar
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22 votes
2 answers
19k views

How do I use walletnotify?

I have bitcoin daemon and I want to use the walletnotify option with a json-rpc call. Some of the examples use a "transaction.sh" file for walletnotify. What is it for? What do I have to write in ...
M.R's user avatar
  • 501
21 votes
8 answers
3k views

What wallet / e-wallet is the most convenient for new casual Bitcoin users?

I'd like to make small payments for business purposes through Bitcoin, so would like to know what the easiest method of getting setup to accept a Bitcoin payment is for a regular person, so that I can ...
Amin's user avatar
  • 1,482
21 votes
3 answers
6k views

Is bitcoin.org or bitcoincore.org the one to trust?

"Download Bitcoin Core": https://bitcoin.org/en/download "Download Bitcoin Core": https://bitcoincore.org/en/download/ I've been alternating between the two sites for years. I have ...
D. G.'s user avatar
  • 219
20 votes
2 answers
7k views

Why do you use Bitcoin addresses instead of public keys?

Why do you hash the public key twice? Are there security benefits to abstracting away from the public key? Is it because the address can represent multiple things? I'm missing something. Could you ...
ihtkwot's user avatar
  • 331
20 votes
5 answers
27k views

How to decode private key from Android Bitcoin Wallet?

I want to import my private key from the android's Bitcoin Wallet (the one created by Andreas Schildbach) but it can export it only in an encrypted way. How do I decrypt the file so I can import the ...
pmichna's user avatar
  • 350
20 votes
4 answers
19k views

Moving the Bitcoin folder from AppData

Bitcoin's taking a lot of space on my C drive, and I would like to move it to another drive. I've figured out to do it using symbolic links, but the problem is that my Bitcoin client is currently ...
user avatar
19 votes
7 answers
12k views

What is the longest known vanity address generated?

Anyone can generate a vanity address of arbitrary length with appropriate tools, it's just a matter of performing enough computations. What is the longest known vanity address anyone has generated?
ThePiachu's user avatar
  • 43.1k
19 votes
1 answer
2k views

What is the status of hierarchical deterministic wallets (BIP32)

BIP32 specifies hierarchical deterministic wallets, where a master seed fully determines a whole tree of keypairs that can be arbitrarily branched. It also introduces the notions of internal and ...
Noah's user avatar
  • 1,479
18 votes
7 answers
19k views

Is it possible to figure out whether two addresses are in the same wallet?

I'm wondering, if I sent some bitcoins from one of my own addresses to another address in my wallet, will it be possible for someone to figure out that both addresses are in the same wallet? Or can I ...
KoKo's user avatar
  • 509
18 votes
1 answer
43k views

Which wallets support Bitcoin Cash?

I'm looking for a big list of wallets that support Bitcoin Cash. What are the wallets that have Bitcoin Cash support?
MCCCS's user avatar
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18 votes
2 answers
15k views

Does a wallet containing multiple addresses have a single private key?

Title says it all. Would one private key enable you to recover all the addresses in your wallet? Or does a wallet just contain a series of key-pairs?
user avatar
18 votes
2 answers
1k views

How can I transfer all funds to new keys?

My wallet.dat (bitcoin-3.4) has maybe been left on a work machine, leaving it accessible to the admins there. I would like to transfer all my current funds to a new wallet. How do I do this and how ...
Peter Smit's user avatar
17 votes
4 answers
6k views

What are the risks of using Strongcoin.com as an online wallet?

Strongcoin claims it is "The Safest way to store your Bitcoins. The only Bitcoin e-wallet service that's not vulnerable to security breaches. Your Bitcoin keys are encrypted in the browser." ...
Highly Irregular's user avatar
17 votes
4 answers
28k views

Is 12-word seed phrase safe enough?

Is 12-word seed phrase (as used by Electrum for example) safe enough for generating an offline wallet? My understanding is this: 2048 words pool make 11 bits of entrophy per word. 12 words in seed ...
shx2's user avatar
  • 803
17 votes
2 answers
11k views

How does the Bitcoin client encrypt the wallet.dat file?

What is the algorithm used for encrypting the wallet.dat file?
ThePiachu's user avatar
  • 43.1k
17 votes
4 answers
10k views

Is there a way to automatically send bitcoins from one wallet to another?

Say I have 2 wallets, an older non-encrypted one and a fresh new encrypted wallet with all new addresses. If I have an address in the older wallet that may receive some bitcoins in the future is there ...
kirian's user avatar
  • 3,289
17 votes
7 answers
3k views

What is the safest medium on which to store my wallet/private keys?

What is the safest medium on which to store my wallet/private keys? I avoid eWallets like the plague. I have my wallet on my computer at the moment with the Bitcoin passphrase encryption and I have ...
Sean Chapman's user avatar
  • 1,740
17 votes
1 answer
48k views

Got the Bitcoin Wallet. How do I transfer money into it?

I've got active connections & there are blocks downloaded but I don't know what to do next. Presumably I need to transfer some money in there so I can buy bitcoins. But how? Any suggestions ...
Kirsteen's user avatar
  • 171
16 votes
3 answers
9k views

Key derivation in HD wallets using the extended private key vs hardened derivation

I am reading the book Mastering Bitcoin and confused about wallet key derivations in Chapter 4. Keys, Addresses, Wallets. The book first mentions a private child key derivation where the child ...
user1's user avatar
  • 161
16 votes
4 answers
5k views

Cannot access my bitcoins because my wallet is still synchronising. What can I do to spend them immediately?

I have purchased bitcoins and have downloaded Bitcoin-QT, but my wallet is taking forever to synchronize to the network. I can't access my wallet because it is still in the sync process. I have the ...
Alex Jackson's user avatar
16 votes
2 answers
7k views

What information does a wallet contain?

What information does the Bitcoin wallet file used by the Bitcoin.org client contain? Is the owner's Bitcoin balance written in the wallet.dat file, or does it contain a list of transactions that ...
uray's user avatar
  • 547
16 votes
2 answers
182k views

Check how much money there is in my Bitcoin address/wallet

Is there a website or service that can quickly lookup how much bitcoins are there in a given wallet/address, so I can look up my own wallet from a friend's computer which doesn't have the Bitcoin ...
sashoalm's user avatar
  • 429
16 votes
2 answers
3k views

Is a wallet just a collection of private and public keys?

There is a fundamental bitcoin concept I don't get. Am I correct in that all I "need" to send and receive money are a single address and its associated private key? In other words, can't I just ...
Jimbob's user avatar
  • 161
15 votes
4 answers
21k views

Are all three Bitcoin address types interoperable (legacy, segwit, native segwit)?

is it possible to send transactions back and forth between all 3 address types (legacy, segwit, native segwit-bech32)? Or is one of them not able to send to another?
johnsmiththelird's user avatar
15 votes
9 answers
20k views

What happens to bitcoins if the site shuts down?

My father just asked me: What happens if the bitcoin people decide to shut down the website, what happens to my bitcoins? I didn't know.
Angelaw's user avatar
  • 159
15 votes
1 answer
8k views

How does bitcoind generate a new address if the wallet is encrypted

Suppose that my wallet is encrypted with a passphase and currently I have not provided bitcoind with the passphrase to access the private keys section of the wallet. If I enter: bitcoind ...
Sam's user avatar
  • 151
15 votes
5 answers
29k views

How many MB of data does my bitcoin client have to download to be fully sync'd?

Best guess/calculation? I transferred some bitcoins to my new wallet after generating an address. This was this morning, and have had my bitcoin wallet syncing all afternoon (5 hours), so far it has ...
Nick's user avatar
  • 151
15 votes
3 answers
8k views

Copy wallet to Electrum or Multibit?

Is there a way to import my wallet from Bitcoin.org's client into the much lighter Multibit or Electrum? The disk space & bandwidth consumption (not exactly well presented to a beginner) quickly ...
Marcos's user avatar
  • 399
15 votes
3 answers
5k views

Estate planning: how can I ensure my bitcoins are inheritable?

What are good ways to ensure my bitcoins can be inherited by my family when I die or become permanently incapacitated? I think there are probably two significantly different situations to account for,...
David A. Harding's user avatar

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