Recovering XRC (Bitcoin rhodium) Using Magnum wallet!

[libert19]

Did you take part in XRC (Bitcoin rhodium) airdrop, but unable to see your coins in web wallet/electrum despite having all info?

Then this quick guide might help you.

Prerequisites:

— Magnum wallet Web | Android

— Mnemonic phrase and two passwords (actually you need one, but you might not know which one is correct)

Note: This screenshots are from magnum android wallet.


1. Open magnum wallet, and click 'Import Mnemonic'.



2. On next screen, paste your 'Mnemonic phrase' in respective field and click on 'Settings' like icon. A new field will appear, paste your password there. Try both passwords you have if you are unsure. And click on 'Import wallet'.



3. On next screen, it will ask you to setup password to protect your magnum wallet, set it.

4. App will scan available blockchains and it will show if it finds any balances. Click on 'Import wallets'.



5. Click on 'Menu' button at left sidebar and select 'wallets'.



6. Select 'Bitcoin rhodium' from the list, and done.


ps: I am not quite sure where does this thread really belong, so feel free to let me know which board is correct. Thanks!

[hugeblack]

It's the first time I've heard about that wallet, so I searched for it and I can summarize the following:

 - Closed Source: I did not find the source code and when I searched I found the answer from the developer team[1]
 - There are no substantial features: it offers features that you can get with some effort.

Generally, to be fair, there is some support for this wallet. They are not a random unknown wallet but I don't trust them to give them my Bitcoin wallet seed.

[1]

It isn't an open-source right now (however everyone can check our code and the network requests online), thats why we will create a repository later. We do not want to make it open source from the start due to several reasons: 1/ It takes a lot of time to prepare source code to publish it, our dev team isn't big and it's very overloaded( you can check how much work has been already done in our Telegram group) 2/ Our team releases some exclusive options for communities which are easy to be 'stolen' if they are open source, therefore we need to attract more users at first to have competitive advantage.

This excuse is unacceptable and I do not think that so few developers will be able to verify all the bugs/backdoors.

[libert19]

It's the first time I've heard about that wallet, so I searched for it and I can summarize the following:

 - Closed Source: I did not find the source code and when I searched I found the answer from the developer team[1]
 - There are no substantial features: it offers features that you can get with some effort.

Generally, to be fair, there is some support for this wallet. They are not a random unknown wallet but I don't trust them to give them my Bitcoin wallet seed.

[1]

It isn't an open-source right now (however everyone can check our code and the network requests online), thats why we will create a repository later. We do not want to make it open source from the start due to several reasons: 1/ It takes a lot of time to prepare source code to publish it, our dev team isn't big and it's very overloaded( you can check how much work has been already done in our Telegram group) 2/ Our team releases some exclusive options for communities which are easy to be 'stolen' if they are open source, therefore we need to attract more users at first to have competitive advantage.

This excuse is unacceptable and I do not think that so few developers will be able to verify all the bugs/backdoors.

If it was open source, the scammers would make clones, publish it on Google play and people would get duped.

For the same reason, Coinomi wallet was later made closed source as well.

You both are right in your own ways.

[NeuroticFish]

Since this is not a fork, is this procedure still working if one moves, for precaution, his bitcoins away before this import?

I am asking because there were already wallets that were pretending to give fork coins and actually stole the bitcoins. And being closed source, the chances for this are high.

[libert19]

Since this is not a fork, is this procedure still working if one moves, for precaution, his bitcoins away before this import?

I am asking because there were already wallets that were pretending to give fork coins and actually stole the bitcoins. And being closed source, the chances for this are high.

This is not fork.

There was xrc airdrop back in 2017, where you had to sign message using your Bitcoin address to prove ownership and were allotted coins (there were two airdrop one was during Christmas where you were given 5 xrc irrespective of your BTC balance and another where you were given coins according to your BTC balance).

Reason behind posting this thread was that there was trouble with official Bitcoin rhodium's electrum and web wallet, where even after entering correct mnemonic and password coins were not showing up. So I discovered magnum wallet and here I could recover my coins.

This is no way promotion of magnum wallet, I just used it to recover my xrc coins and have uninstalled it.

I hope this clears things up.