Bitcoin Forum

Hi y'all,

my name is Tony, 34, from Belgium and I"m new here...

I've been trying to get as much info as I could about Bitcoin, my Bitcoin wallet and how to buy and sell them but still have a few questions that I hope you guys can help me with...

I already made a Bitcoin wallet with Blockchain and have made 2 transfers so far with my Credit Card to my wallet to the same bitcoinadress in my wallet... All good there  :)

Now my main question is... I see and read a lot about the private key that's very important to have (256bits-number?)

I have my wallet-ID (not the same as my private key??), I also have the 12 words as back-up for my wallet but it seems when I registered my wallet, I didn't get or overlooked my private key...

Is there any way I can get that key, because I think it's an important thing to own, right? :)

Is the private key a one time number that you get that's linked to your wallet or do you get a new private key with every bitcoin transaction you make?

I've been seeing a lot of video's and reading about it, but it still doesn't make sense to me how I can find this...

I don't have a smartphone ( I know, I'm a dinosaur  :D) but really would like to get some more info on this...

Any help or info is really appreciated!!!


Thanx in advance!!


TownyBE

 

The twelve words you have is a seed. That's a way of generating multiple private keys. A seed is all you need to restore your coins in other wallets as most of them use the same system these days.

Blockchain.info, and most other wallets, are HD wallets, hierarchical deterministic, which means you get a new address with each transaction to increase privacy. The seed is what allows these multiple addresses and private keys in one wallet.

The only time you might need a specific private key for a specific address is to claim a Bitcoin fork that isn't supported by your wallet. You can extract a private key from a seed with this but only ever do it on a machine that'll never go online - https://iancoleman.io/bip39/

Thx so much for the info already!!!

So my Wallet-ID and those 12 words are enough for me to continue buying (or selling) bitcoins? They will never ask for my Private key when I make a transaction?

Really sorry for the Newbie questions :)

Thx again!!

Correct. You don't need the wallet ID to restore the wallet elsewhere, only the seed. The ID is specific to that particular wallet. If you can't get into that wallet again then use the seed to make another one.

Anyone from anywhere asking for your private key or seed is looking to steal your money. They don't need it. Store the seed safely offline and your coins will always be safe.

Ok, things starting to make a lot more sense  :)

So for example if I want to log in into my wallet in another country, let's say with family, I just go to the Blockchain site, and can log into my wallet too with my wallet-ID and password? Offcourse not saving my passwords on there then...

I've read that it's also important to keep your wallet-ID private at all time... is this true? So basically if I log in from anywhere else, I need my wallet ID with me (and my seed?) Or is the seed only for rare occassions, say when I loose the wallet-ID or password?

Just asking this because I now always do it from my own home on my PC...

Thanx for all your answers, really helps a lot!! And I need to learn somehow  ;)  ;D


TownyBE

I haven't used blockchain.info for years but I presume it needs your wallet ID and password and nothing else.

You'll never need the seed for anything other than restoring the wallet if you lose it. It's your backup and nothing else. They shouldn't be stored anywhere a hacker can access them because if they do they can have your coins away.

I store my seeds in an offline computer.

yes,because with wallet-id people can crack the wallet to gain your password. Even it will take a lot time for now and need email confirmation.
If you want login in blockchain then yes you need your wallet id. You can use your seed to login on another wallet that support BIP39 too. If you lose wallet-ID, just go to blockchain and use "I've lost my Wallet ID" It will send directly to your email. But if you lose your password, you need your seed to recover it.

What is the name of your bitcoin purse so I can help you and tell where to find your private key and code phrases? Be sure to write down all important passwords and store these data in several places. Because it's your money. Because of the inattention of users, then here on the forum are created topics about how people lose money and can not remember passwords from their wallets.

What do you mean with the name of my purse?

The 12 words are safely put away already, it's just the private key I was wondering :)


But thanx again to everyone who's helping me with info on this...

That's all you need to secure your funds.

Ok, sounds a little better already  ;)

One more question for now...

I also red that your wallet automatically makes new bitcoin adresses in your wallet with every transaction you make and that it's safest you use a new receiving bitcoin adress with every transaction...

Now I used the same bitcoin adress twice when I used my Credit Card to buy bitcoins... Now let's say for example you want to sent me bitcoins, can I always use the same bitcoin adress (1f54... for example) or do I make a new one to make it safer? And what's the fastest and safest way to make a new one? And when I do make a new one, is there also a private key to the new bitcoin adress that I have to safe or not?

Like I said before: THANX A BUNCH!!  :D

You can always use the same address if you want. I receive recurring payments to the same address.

The wallet will automatically hide the old address and give you a new one if you've transacted from it, but the old address will receive just fine. You don't have to manually generate a new one. It'll arrive as soon as the previous address sees some use.