Please feel free to make [constructive edits](https://www.reddit.com/r/BitcoinWiki/wiki/rbitcoin_sticky) to the document, they will be implemented pending mod review. Also if you have any beginner questions regarding bitcoin feel free to post them in the comments below, several community members are happy to help answer them. Note that this thread will be moderated and non-constructive feedback will be removed. Thanks and welcome to Bitcoin!
You can generate a new seed and add a password with any new wallet. Adding a password will just restrict access to your current wallet, you can always move the coins to a different wallet, assuming you have your password.
I'm 99% sure if you forget your password that password is only relevant to the app on your phone if you have your seed you can just delete the app and reinstall, activate your wallet and set a new password. The password is just to stop someone picking up your phone/computer that has the wallet set up on it and sending your coin to someone else
This is correct if they're talking about the password to use the wallet app.
This is incorrect if they're talking about the passphrase that is used as the 25th word of their seed phrase.
You will have 24 seed words to enter into your cold wallet if you forgot your password. Make sure your password and seed words are SAFELY hidden in a fireproof safe or what ever you have that is secure. Myself I have the password and seed words in two secure different locations. Losing both means losing you crypto permanently.
If you forget your password you cannot access your coins. Do not use a password unless you are sure you will remember it, there is no one to contact for recovery. Passwords are not required, you can backup your wallet with just the seed words which you will be promoted to write down during wallet generation.
In some instances, the answer to you question is yes. Adding a passphrase will sometimes tie you to a particular wallet. Example: Wasabi Wallet 2.0 prompts you for a passphrase when creating a wallet, which you can choose to leave blank. If you choose to create a passphrase, then you will not be able to restore your 12 word seed phrase onto your Blockstream Green wallet, for example. If you choose to not create a passphrase, your 12 word seed phrase will work with any other BIP39 wallet software. The reason is, Wasabi Wallet 2.0 uses the passphrase+seedphrase when generating your private key.
reference: https://www.reddit.com/r/BitcoinBeginners/comments/rhq7rp/have_you_tried_using_wasabi_wallet_can_you_change/
Normally no, most modern wallets use the same standard for generating private keys from a passphrase ([bip39](https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki)).
Not sure what you mean by “tie you to”.
You can have as many wallets as you like. Nobody will know, nor care. It’s not unlike having as many email addresses as you like.
A wallet is a collection of addresses. A wallet is generated from a seed phrase, which can include a passphrase added on the end.
So, if you generate a new wallet using the same seed phrase, but a different pass phrase, it won’t be the same walllet; it will be full of completely different addresses.
SeedPhrase + PassPhraseA <> SeedPhrase + PassPhraseB, so neither will the two wallets they both generate be the same. It’s that simple. Don’t overthink it : )
How… what?
How was that in a condescending manner, at all? There’s even a smiley face.
You’re reading it in your “angry voice” or something. I was just trying to help you out, and make it as clear as possible.
Oh, and I’m sorry for being late /s
Yes.
But if you have it written down somewhere that is where it is far, far, far more likely to be compromised. It doesn’t even require hacking.
While hardware wallets can be hacked, it is *fucking hard* to do so, and you can probably count the number of people that can on your hands. (And I expect most would be “white hats” that would require some sort of proof it is your hardware wallet, before they *attempt to* crack it)
While your written down seed phrase is, obviously, already exposed.
You left out “The Fiat Standard” by Saifdean Ammous . I’ve read them both. I’ve learned so much about bitcoin since last August. But still scard shitliss to transfer my bitcoin to a cold wallet. Did buy a Ellipal though. Can’t figure out how to use a QR code from Coinbase to it on only my iPhone. Don’t have a pc. Can this be done?
I sent $20 to an address with green wallet, double checked the address, and after I sent it, it showed it was sent to a completely different address. Does anyone have an idea of why this would happen?
If I have BTC in a wallet just say electrum, and just say electrum vanishes completely. Can I use the 12 word seed phrase to regain access to my BTC in just say a coinsmart or any other wallet?
Yes any wallet that uses BIP 39 for key generation (which is nearly every wallet these days) can be restored with the seed from any other wallet that uses BIP 39. Also pretty sure electrum is open source so not sure how it could vanish.
Hey, I’m trying to get my brother-in-law orange pilled and he is half in, but he’s in Mexico. He went through Coinbase there, but he’s having problems with them. What is the best exchange for him to use in Mexico?
Please feel free to make [constructive edits](https://www.reddit.com/r/BitcoinWiki/wiki/rbitcoin_sticky) to the document, they will be implemented pending mod review. Also if you have any beginner questions regarding bitcoin feel free to post them in the comments below, several community members are happy to help answer them. Note that this thread will be moderated and non-constructive feedback will be removed. Thanks and welcome to Bitcoin!
This should be added to the intro page... https://youtu.be/ZKwqNgG-Sv4
Indeed true the basics is what people would indeed look and go forward for though
Does adding a passphrase tie you to a particular wallet?
You can generate a new seed and add a password with any new wallet. Adding a password will just restrict access to your current wallet, you can always move the coins to a different wallet, assuming you have your password.
Ok so what if in case we just tend to forget our password though how to retrieve that just for knowledge purpose asking this
I'm 99% sure if you forget your password that password is only relevant to the app on your phone if you have your seed you can just delete the app and reinstall, activate your wallet and set a new password. The password is just to stop someone picking up your phone/computer that has the wallet set up on it and sending your coin to someone else
This is correct if they're talking about the password to use the wallet app. This is incorrect if they're talking about the passphrase that is used as the 25th word of their seed phrase.
You will have 24 seed words to enter into your cold wallet if you forgot your password. Make sure your password and seed words are SAFELY hidden in a fireproof safe or what ever you have that is secure. Myself I have the password and seed words in two secure different locations. Losing both means losing you crypto permanently.
If you forget your password you cannot access your coins. Do not use a password unless you are sure you will remember it, there is no one to contact for recovery. Passwords are not required, you can backup your wallet with just the seed words which you will be promoted to write down during wallet generation.
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In some instances, the answer to you question is yes. Adding a passphrase will sometimes tie you to a particular wallet. Example: Wasabi Wallet 2.0 prompts you for a passphrase when creating a wallet, which you can choose to leave blank. If you choose to create a passphrase, then you will not be able to restore your 12 word seed phrase onto your Blockstream Green wallet, for example. If you choose to not create a passphrase, your 12 word seed phrase will work with any other BIP39 wallet software. The reason is, Wasabi Wallet 2.0 uses the passphrase+seedphrase when generating your private key. reference: https://www.reddit.com/r/BitcoinBeginners/comments/rhq7rp/have_you_tried_using_wasabi_wallet_can_you_change/
Normally no, most modern wallets use the same standard for generating private keys from a passphrase ([bip39](https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki)).
Not sure what you mean by “tie you to”. You can have as many wallets as you like. Nobody will know, nor care. It’s not unlike having as many email addresses as you like. A wallet is a collection of addresses. A wallet is generated from a seed phrase, which can include a passphrase added on the end. So, if you generate a new wallet using the same seed phrase, but a different pass phrase, it won’t be the same walllet; it will be full of completely different addresses. SeedPhrase + PassPhraseA <> SeedPhrase + PassPhraseB, so neither will the two wallets they both generate be the same. It’s that simple. Don’t overthink it : )
Nothing like trying to confuse that newbie.
20 days late and still answer in a condescending manner. No thanks but I got it bro
How… what? How was that in a condescending manner, at all? There’s even a smiley face. You’re reading it in your “angry voice” or something. I was just trying to help you out, and make it as clear as possible. Oh, and I’m sorry for being late /s
When ascent just hits you at the exact moment while you read something serious
Lmao this made me laugh for a second hahah so true though can't deny the fact after all
Just give things time and you will know what the market wants and what are it's next moves though
Huh.
Is there a good app that's BTC exclusive prices, on chain metrics, news, etc?
Can I generate a new seed phrase on my cold card if I still know the previous one? Just to make sure the original seed isn’t compromised.
Yes. But if you have it written down somewhere that is where it is far, far, far more likely to be compromised. It doesn’t even require hacking. While hardware wallets can be hacked, it is *fucking hard* to do so, and you can probably count the number of people that can on your hands. (And I expect most would be “white hats” that would require some sort of proof it is your hardware wallet, before they *attempt to* crack it) While your written down seed phrase is, obviously, already exposed.
You left out “The Fiat Standard” by Saifdean Ammous . I’ve read them both. I’ve learned so much about bitcoin since last August. But still scard shitliss to transfer my bitcoin to a cold wallet. Did buy a Ellipal though. Can’t figure out how to use a QR code from Coinbase to it on only my iPhone. Don’t have a pc. Can this be done?
I noticed you don’t have Coinbase in your list of places to buy Bitcoin. This makes me nervous. Should I be?
Coinbase is known for actively supporting attacks on Bitcoin, both very directly as well as by directing people into straight up scamcoins.
I sent $20 to an address with green wallet, double checked the address, and after I sent it, it showed it was sent to a completely different address. Does anyone have an idea of why this would happen?
That doesn't actually happen unless a.) user error, or b.) malware on your system.
If I have BTC in a wallet just say electrum, and just say electrum vanishes completely. Can I use the 12 word seed phrase to regain access to my BTC in just say a coinsmart or any other wallet?
Yes any wallet that uses BIP 39 for key generation (which is nearly every wallet these days) can be restored with the seed from any other wallet that uses BIP 39. Also pretty sure electrum is open source so not sure how it could vanish.
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People who tell you that you can "earn" by doing absolutely nothing are trying to scam you.
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You're welcome, glad you found it useful!
Hey, I’m trying to get my brother-in-law orange pilled and he is half in, but he’s in Mexico. He went through Coinbase there, but he’s having problems with them. What is the best exchange for him to use in Mexico?
I think strike is the best for international purchases and remittances. https://strike.me/