What to Do When a Wallet Goes Offline?

It is common for users to worry about choosing a wallet that keeps their funds safe from any criptomoeda , mainly due to the appreciation of bitcoin.

What to Do When a Wallet Goes Offline?

More what to do if you can not access the wallet?

As I mentioned in another posting how to safely store your bitcoins , the only way to have your bitcoins in your control is by having access to the private key.

There are two “types” of private key:

  1. Single address private key, which is a unique key that matches a single bitcoin address, example:

5HpHagT65TZzG1PH3CSu63k8DbpvD8s5ip4nEB3kEsreAnchuDf

  1. SEED Address is a set of 12 or 24 words that generate new addresses from a single private key, eg:

pause alone book scissors day olive virtual order burst oblige rival hint

Remember that the process below does not work for wallet made of leather  online or exchanges, since the addresses are generated by the platform itself and you do not have the option to import or export the private keys of the addresses.

Using the Electrum Wallet

Download the application on the site electronum.org in this example I am using the portable version, no installation required when running will display the following screen:

Click next, in the next screen you can define a name for wallet, I will leave default by clicking next again.

In the following screen you leave the first option checked and click next:

Now on the following screen we will choose the option “I already have seed”, that way we can rescue bitcoins using SEED or you can choose the third option using a private key.

Okay, now we just need to put SEED and click next to finish the import process, if the next option is not active, just click options and check the option BIP39 SEED.

In the image above leave as this click on next.

If you want to encrypt this wallet set a password, fill in if you want to permanently use this wallet for future transactions.

Once you’ve done that, you’ll have access to your bitcoins.After this import I recommend not to use this SEED or private key anymore, move your bitcoins to another address that you have control.

Besides Electrum there are other programs that are able to import SEED and private key, like the Mycelium app and JAXX, just follow the procedure indicated in the app of both.

Recommended Wallet

Below you can check out some wallets that I recommend for two reasons: In addition to having full access to private keys, you can set or choose the best network fee for your transaction.

  • Mycelium Bitcoin Wallet , available only for android and iOS.
  • Wallet Blockchain.info , also available for android and iOS plus online interface. Do not confuse blockchain.info with Bitcoin’s blockchain.
  • As quoted above, you can use Electrum or JAXX , both available for major platforms.JAX is the only one that supports other crypto-coins such as XMR, ZEC among others.

Lastly, always use wallet if you have access to the private key or SEED , always keep more than one backup of those keys and store them in secure locations.

And then this tutorial solved your problem?Comment below.

Gallery

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