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You can copy your wallet address and send it to someone that you are expecting bitcoin from. It can be through message, email, WhatsApp, Telegram et cetera. Just make sure your device is not having clipboard malware.
If someone device is having clipboard malware, the malware is able to change the address that you copy to clipboard on your device to a hackers address, so that the address that you copied is not the address that you will paste and send.
If sending bitcoin to someone also, it is good to check and recheck the address before sending, making sure it is your address and not someone else address.
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me I dy busy dy mine pi
Your topic title says '2024 some people still dy mine shit coin'. Are you referring to yourself mining Pi? I was thinking you wanted to advise people to mine bitcoin instead. I would have said mining bitcoin is expensive to start. But mining altcoins has never come to my mind before as a suggestion. To me this buying of btc daily, weekly or monthly na update wey we no sopos carry play.
Yes, but not at the wrong time. Bitcoin will reach all-time-high and you may have to not DCA after it is reaching a very high price of all-time-high. But in time like this, DCA is a good strategy to buy bitcoin. |
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Why the ban on cryptocurrency by CBN of Nigeria when there are no adequate plans of means of livelihood for the youths?
In December 2023, CBN lifted the ban. Why posting about what is already a bygone? During the ban, Nigerians were able to buy, hold and sell bitcoin and other cryptocurrencies of their choices. During the ban, local exchanges like Patricia and others were functioning. During the ban you can see many crypto advertisements everywhere online like on YouTube, by celebrities. During the ban, Nigerian comedians and singers were using bitcoin in their comedies and songs. During the ban, Patricia still advertised on the biggest Nigerian reality show, BBN. During the ban, the SEC continues with their crypto regulations about requirements for those that wants to register an exchange company in Nigeria. Which means you can register your company as an exchange company in Nigeria at the time. |
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This shows that all these apps are sensitive to everything we do on our smartphone, I will like to advice beginners to avoid non default keyboards, as they have the potential to collect every data on your phone, the sensitive ones and the less sensitive, even the words we type through them.
The best are wallets' virtual keyboards and the wallets that will only allow you to select the words for verification that you have backup the seed phrase. There are many close source third party apps on applications stores. Using third party keyboard is not good at all. I do not know why people like it. I prefer the keyboard that my devices come with. Not only apps but there are other things to avoid. I set my apps not to install file from third party and I do not download any file from any site. On the online device that I have my little of my coins, I only use it for wallet and exchange purposes and nothing more than that. To be on the safest way, use cold wallet, multisig wallet or combine both. But also still be very careful of malware. |
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Given your expertise with the Electrum wallet, could you please guide me through the steps to update it? Despite downloading the latest version and running it, I continue to receive prompts to update, similar to my previous experiences. A step-by-step breakdown of the process, as you provided in the earlier explanation, would be greatly appreciated. Thank you.
I download the new update from Electum official site, https://electrum.org/ and install the update and nothing more than that. To verify the PGP that it is original and from the right source or developer, there is a guide for it: [GUIDE] How to Safely Download and Verify Electrum [Guide] |
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isn't it more easy if copy my 12 words of the wallet and put it on a Trust wallet ? rather than dealing with electrum thorugh phone !
It would work, but Trustwallet is a close source wallet and also have its own issue and I will not recommend it at all. Using mobile Electrum is enough for you. If you want another wallet, you can try Bluewallet or Samourai. They are both BIP39 seed phrase wallets. |
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Import the seed phrase on Electrum.
To import the seed phrase on desktop Electrum: name your wallet or go for default wallet name and then click on next and follow this:
Standard wallet -> I already have a seed. Enter your seed phrase and click on options -> select BIP39 seed phrase and click on next. Select from these derivative paths:
Legacy for addresses that starts from 1
Native segwit for addresses that starts from bc1
Click on next. Input your password that you want for the wallet and you are done.
On mobile Electrum. After you input your seed phrase, you will not see 'options' at the right lower side where you input the seed phrase, but you will see 'Electrum' at the upper right corner. Click on it and select BIP39 to proceed.
Note that Blockchain.com wallet is a close source wallet and it would be better to generate new seed phrase on open source wallet directly. Electrum wallet is an open source wallet.
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if i import the private key on an offline device with electrum installed, it will instantly confirm if the private key is valid to the belonging pub adress?
On offline Electum, it will not synchronized with the blockchain and you will not see your coins. You know that you have coins there, you can see it through the watch-only wallet which is online and which you can use to create an unsigned transaction, send it to the offline Electum through QR code or USB stick. The offline Electum will only be used for signing the unsigned transaction and you will send the signed transaction back to the watch-only wallet to broadcast it. This guide is for mobile Electrum but it would be of help if you use QR code for unsigned and signed transaction transfer: Okay, here's the procedure to create a cold-storage mobile Electrum wallet: - 1. Install Electrum on both devices, and create a standard wallet on the "cold storage" device, that will be your main wallet that contains all the keys and shouldn't be connected to the internet even once (a newly formatted device/new device is better).
Make sure that the seed was saved in a physical backup like a piece of paper. - 2. Click the wallet's name on top of the screen and click "Master Public key" twice to open the QR code.
- 3. On the online phone, create a new wallet using the option "Standard Wallet->Use a master key", then click the camera icon to scan the cold-storage wallet's QR code.
This will create a watch-only wallet version of your cold-storage wallet. - 4. Confirm if the address in the receive tab is the same.
Now to use those wallets: - You just have to create a transaction using the online watch-only wallet using the send tab.
- Fill out the recipient, amount, etc. then, click pay (select if you want to opt-in RBF, yes) and click the QR code icon below.
- In the cold-storage wallet, go to send tab and click the camera icon on the right side and scan the other device's QR code.
- The transaction will be imported to the cold-storage wallet, now click option->sign (enter your pin) and it will be marked as "signed" above.
- Click the QR code icon, then scan this using your online watch-only wallet and the signed transaction will be imported and now you can use options->broadcast button to send it to the network.
If you're not familiar with Electrum's defaut bitcoin denomination, you can change it from mBTC to BTC in the settings->denomination. |
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i havent tried it yet, but electrum supports compressed private keys?
Because i have read that some users imported compressed private keys to electrum and the pub adress was a completely different one.
unfortunately im not home so i cant test.
I have given you the information that you need. You can import it. It would work. If it is huge amount of money, you can import it on wallet on an airgapped device and use watch-only wallet to create unsigned transaction and use the wallet on the airgapped device to sign. https://electrum.readthedocs.io/en/latest/coldstorage.html |
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Import the private key into wallet like Electrum and you will be able to access your coin and spend it. Compressed private key can start from K or L and they are wallet import formats (WIF).
Uncompressed private keys start from 5 and they are also WIF.
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1. Those using Trezor, what additional security they can do to make sure they are safe apart from trezor PIN
Protect your wallet (Trezor one or Trezor T) from physical theft. A physical attack on it can be used to reveal its seed phrase. Or best to use a passphrase to generate the keys and addresses along with the seed phrase. 2. It sounds weird but when one creates 12 keys in any btc wallet then either user knows his 12 words or this wallet knows these 12 words.
Is it it possible to hack this 12 word from btc wallet software.
If another person knows your seed phrase, the person can use an online wallet to have access to your coins and spend it. |
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Most short-term Bitcoin Investors stays on the watchlist basically checking out on their Bitcoin wallets to see the total values of coins (BTC balance) in their wallets as a result of rumours and speculations in the crytop marketing industry.
I don't know if this happens internationally but in my country, when you want to use the USDT mobile banking transaction method to process a designated request either you want to check your bank account balance or you are performing any sort of transactions, there is always a charge fee for it.
You are referring to USD and not USDT which is a stablecoins. You are referring to fiat, United States dollar (USD). My question: If such charge fees are applicable that some fractions of BTC would be deducted from your Bitcoin account on the request of checking out your total Bitcoin values (BTC Balance) in your wallet which charge rate is depended on your total values of Bitcoin in your wallet and also considering total number of times you do this balance request, would you still do regularly keep to checking on your Total Bitcoin values to know your faith due to the speculations and rumours on ground?
I do not know exactly the usefulness or purpose of this question. But it is worth answering that if you have bitcoin, you have full control, unlike banks that third parties are the ones in control and charging you money through all possible means. |
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3. Apropos of #2 above, Is my Trust Wallet seed phrase secure enough (since it was created while online), or should I redo it by creating a new wallet in Sparrow Wallet app offline and then sending the BTC from Trust Wallet to Sparrow Wallet?
Thanks in advance!
I would advocate new SEED (generated by Sparrow offline). You are right about this. The seed phrases generated offline are the most secure seed phrases. But we need to ask OP what he actually wants. If OP thinks he can create the seed phrase offline and use the wallet online, there is no point in generating the seed phrase offline and only little amount of coins should be stored on the addresses the seed phrase generates. But if he wants to use it as a paper wallet or wallet on an airgapped device, then generating the seed phrase offline is the safest way. |
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I can remember when CBN banned cryptocurrencies in Nigeria in February 2021, the SEC made virtual asset services providers (VASP) guidelines some months after pertaining to bitcoin and other cryptocurrencies exchanges that will register in Nigeria. That should be in forth quarter of 2021 or so. The guidelines or regulation or whatever we call it was about any exchanges that SEC can give crypto license to function as an exchange in Nigeria should have at least 500 million naira capital before they can give licence to the company to function as an exchange.
In 2023, I have read in a news that this guideline can not encourage local exchanges to be established. Today, I read different news online, but also the similar to that 2023 news, that SEC guideline can not encourage local exchanges to be established in Nigeria. That Nigerians will because of this depend most on foreign exchanges.
If someone or group of people that wants to establish an exchange in Nigeria do not have up to that amount of money, did you think that exchange would be secure enough? There are people that would be employed for security purposes and also that to setup an exchange these days would require huge amount of money. I do not know if these people that are complaining are right or wrong. So you have anything to post about this? How much in naira do you think can be a good startup for new exchanges in Nigeria?
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So many shops will shutdown in Nigeria because of economic inflation. As I dey Waka dey go somewhere, the usual road I dey pass before. I notice say many shop no open again. And this shops na shop wey be say e been dey booble before, but all of a sudden e don dey lockdown. When I ask say why D shop them no dey open, them say the owner say things too cost Naim make them no open.
If this is true, this will happen in rear situation. It can not be common. Shops that I am seeing daily are become more many as more shops are built. No shop closed down just like that. If a shop closes down, likely because the shop renter wants to move to another location or change business. If the place attracts customers, you will soon see another person that will rent the shop. Another reason a shop can close down is because the location is not favoring business. Or if thieves are common and stealing in such location and no security. Even the shops them wey dey self, I dey even pitty them, because you need to see the complain wey dem dey complain about the wey things dey cost for market. And now one person come dey reason about online business. say E better for people wey dey do online business like bitcoin.
It is business, no mind the complaints. Assuming you bought A at ₦5000 a month ago, but you see it at ₦7000 today. You customer that you are buy something from will complain to let you know how the economy is and that price of goods and services are increasing, but you will see his shop getting better day by day if he knows what he is doing. Inflation can affect the naira but not the business if there are many customers buyjng something from the shop. So now with that statement alone, show say more investors go still adopt Bitcoin more. Because physical business don they fill the impact of not investing on Bitcoin.
Inflation has depreciated the naira further, this is not new anymore. Many people are buying bitcoin to hedge against inflation and naira declination. So I been wan tell am about bitcoin investment how e dey be, but I no get time to explain my self. So wetting ona think about economic inflation and Bitcoin adoption?
In addition, know that some people do not invest because of inflation, but because they see bitcoin as a means of investment. |
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There are just few boards like trading discussion and marketplace and their child boards that users trusts can easy be seen summarized in numbers, unless you click on the the users trust on his profile, but I think a flag can be seen everywhere. So this is a good idea. I added another negative trust and also support your flag. Supporting the flag will let people easily know that the user must not be trusted.
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Trustwallet is a close source wallet. Even if you import the seed phrase into Sparrow, still create a new wallet on Sparrow and send your coins there. You can send it from the Trustwallet seed phrase wallet that you import to the wallet that you created newly on Sparrow, or you can send it from Trustwallet to the wallet that you created newly on Sparrow. 2. Apropos of #1 above, after I imported the wallet to Sparrow, I then checked Trust Wallet and it's still showing the same about as before. Does the BTC now live in two wallets? If I wanted to empty Trust Wallet, would I have had to create a new wallet in Sparrow first and then use the send or receive feature?
Your coins are stored on the bitcoin blockchain and not on any wallet. If you spend from Trustwallet, you will also see it on Sparrow as they both synchronize with the block. I am referring to the Trustwallet seed phrase that you import on Sparrow. 3. Apropos of #2 above, Is my Trust Wallet seed phrase secure enough (since it was created while online), or should I redo it by creating a new wallet in Sparrow Wallet app offline and then sending the BTC from Trust Wallet to Sparrow Wallet?
Like I meant above, create new wallet on Sparrow and send your coins to address or addresses that the newly Sparrow wallet generates for you. |
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The blocks were mine faster before miners were able to include any transaction into their candidate block. You can take a look at the transactions, they were mined in just some seconds.
The mining pool that mined the two blocks also mined the third block which has transactions included.
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I read your instructions on your steps very carefully, and I really thank you for that!. I understand the part about standard wallet ,already having a seed phrase options. And then you said to select bip 39 and click on next.... I am not sure I understand the derivative paths,,, or that I would pick the right one?
And I would have to be telling her how to do this too.... I use electrum on my desktop but I think my friend would be only using a phone.!! So mobile,, instructions then..... So she would have to follow your mobile directions to Move It from quinomi directly into Electra mobile..
... so I would have to understand clearly the directions to import from coinomi to electrum mobile for her? So if we got it figured out to import from coinomi to Electra mobile for her, would it be safe with the same seed phrase if she was just going to transfer it out right away to another wallet? She won't be leaving it on electrum ? She wouldn't be keeping it there so would that be safe? Thank you so much again for your help I really really appreciate it!
On desk....
  Click on the Electrum as you see in above image and select BIP39. That is on mobile that your friend is using. If it is desktop, you will click on 'options'. If you do not click on BIP39, you will not be able to click on next so far it is BIP39 seed phrase. Then you will choose the derivation path to proceed: Legacy for addresses that starts from 1 P2sh-segwit for addresses that start from 3 Native segwit for addresses that starts from bc1 You will ask her the character her bitcoin address starts from so you will be able to know the derivation path she will use. Ask this before you will even tell her to import the seed phrase. |
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