Recover wallet from coinbox.org wallet to electrum

[Sibi]

Hi,

I'm a newbie. I have a very small amount of bitcoins on my wallet, the wallet is "bitcoin wallet - buy BTC"
First I don't know if this is a good wallet, do you know something about it?
Second I wanted to restore it into an electrum wallet, I follow all the procedure and I use the seed and the correct segwit (my wallet starts with 3)but it doesn't work. What can I do? What am I missing?

[hosseinimr93]

Did you check BIP39 when importing the seed phrase?

I haven't ever used the wallet you are referring to. But there's a high probability that the seed phrase you exported is BIP39.
If that's the case, you must click on "options" button when entering your seed phrase and check "BIP39 seed".

[Sibi]

Yes I did that..

[nc50lc]

Coinbox seems to be using a different "derivation path" than Electrum's default.
I've tried various paths but nothing restored the first '3' nor 'bc1' address of coinbox.

I'll try some other variations and update you later if I've found the correct one.
For now, if it has balance, try using "Detect Existing Accounts" in the 'Script type and Derivation path' selection window of Electrum during wallet restore session.

[o_e_l_e_o]

Email their support at support@coinbox.org and ask them what derivation paths they use for each wallet type, specifically what derivation path they use for nested SegWit (P2SH-P2WPKH) accounts.

Once they have got back to you, restore your seed phrase in Electrum, and on the relevant page choose the script type "p2sh-segwit" and change the derivation path to whatever they have told you it is.

[Sibi]

Hi,

Thank you. I'm trying to restore it on the mobile version of electrum, I didn't see the options you mentioned.

[HCP]

Email their support at support@coinbox.org and ask them what derivation paths they use for each wallet type

Good luck with that... I attempted to contact their support and asked about the derivation and was told "you simply log in with your email/password and it will restore your wallet"

I haven't heard back since I asked them to forward my question to the development/technical team.


Honestly, I think it might be easier if the OP simply sends all their coins from coinbox app to a "proper" wallet with "proper" documentation and support. I couldn't figure out the derivation path trying a lot of different combinations on iancoleman.io/bip39:
m/0....
m/44'....
m/49'....
m/84'....

It would appear that coinbox is using something very unusual... possibly related to the default "passphrase"

[o_e_l_e_o]

Thank you. I'm trying to restore it on the mobile version of electrum, I didn't see the options you mentioned.

On the mobile version it should be the same. Create a new wallet -> Standard wallet -> I already have a seed -> Enter your seed and check the box in the settings menu titled "BIP39" -> Choose "p2sh-segwit" and enter the custom derivation path.

Honestly, I think it might be easier if the OP simply sends all their coins from coinbox app to a "proper" wallet with "proper" documentation and support.

That's never a bad suggestion. Even if you figure out the correct derivation path OP, you will still be using a seed phrase which was generated by an unknown and closed source wallet, with completely unknown and untested security practices. It could have been generated insecurely, be transmitted insecurely, or be stored insecurely, and even if not, it has still be exposed to the internet. And based on what HCP has said about the response he got to his email, they aren't exactly the most technical minded people.

[Sibi]

I wasn't even asked for an email amd password. Anyway I still have access to the wallet, I just want to "move" it into another one

Email their support at support@coinbox.org and ask them what derivation paths they use for each wallet type

Good luck with that... I attempted to contact their support and asked about the derivation and was told "you simply log in with your email/password and it will restore your wallet"

I haven't heard back since I asked them to forward my question to the development/technical team.


Honestly, I think it might be easier if the OP simply sends all their coins from coinbox app to a "proper" wallet with "proper" documentation and support. I couldn't figure out the derivation path trying a lot of different combinations on iancoleman.io/bip39:
m/0....
m/44'....
m/49'....
m/84'....

It would appear that coinbox is using something very unusual... possibly related to the default "passphrase"

[o_e_l_e_o]

I wasn't even asked for an email amd password. Anyway I still have access to the wallet, I just want to "move" it into another one

If you want to use Electrum, then your best bet is going to be to set up a brand new Electrum wallet, back up the seed phrase on to paper, and then log in/open your coinbox wallet and send all the coins contained to the first address in your brand new Electrum wallet. Doing this will keep your coins as safe as possible, as simply importing the seed phrase that a closed source online wallet has created for you will mean that all coins within that wallet are constantly at risk.

Fees are fairly low at the moment, so transferring all your coins to your new wallet with a fee of around 3-5 sats/vbyte should still get them confirmed fairly quickly.

[Sibi]

Yes, it's probably the safest and fastest solution, I was trying to avoid the fees. Also this discussion might be helpfull to someone else in the same situation, especially if they don't have access to the app anymore for whatever reason.

[nc50lc]

I attempted to contact their support and asked about the derivation and was told "you simply log in with your email/password and it will restore your wallet"

I too have sent an email to their support since my yesterday post's timestamp.
But I never received a reply.

Maybe it was redirected directly to their technical team.

Yes, it's probably the safest and fastest solution, I was trying to avoid the fees.

The current average fee rate is quite low, now even 3sat/vB is enough for a fast confirmation.
You might want to send while the average mempool size is low.

[o_e_l_e_o]

I was trying to avoid the fees.

As I said above, fee rate as the moment is very low. Even if you have a bunch of dust inputs that you need to consolidate, a transaction with around 20 inputs and around 3000 vbytes in size would still only cost around a dollar to transact at a fee rate of 2-3 sats/vbyte. If it is a simple 1-input-1-output transaction, then you are looking at less than 10 cents. And indeed, if you do need to consolidate a bunch of smaller inputs, doing so now when the fee rate is low will save you money in the long term when you want to send or spend the coins elsewhere and the fee rate is higher.

If you really don't want to spend the fee unnecessarily, then you could wait until you were going to make a transaction out of your Coinbox wallet anyway to send coins to an exchange or pay someone for a good or service, and at the same time redirect all the change from your transaction to your new Electrum wallet (although the Coinbox wallet may not offer this functionality, and if the fee rate has gone up by the time you do this, it could still work out more expensive than if you just do it now). Or alternatively, if the value of the coins you are moving is very small, then just leave them where they are and accept the risk of using a third party web wallet.

[Chikito]

Yes, it's probably the safest and fastest solution, I was trying to avoid the fees. Also this discussion might be helpfull to someone else in the same situation, especially if they don't have access to the app anymore for whatever reason.

Good for you to move it into another wallet asap, I am not sure what kind of mnemonic seed coinbox used. I tried importing into Iancoleman and got a different address (BTC, ETH, and LTC) also. You or others will be confused if the company closes the website/wallet because I didn't find how to access a private key on a phone app also.

[Sibi]

Yes, it's probably the safest and fastest solution, I was trying to avoid the fees. Also this discussion might be helpfull to someone else in the same situation, especially if they don't have access to the app anymore for whatever reason.

Good for you to move it into another wallet asap, I am not sure what kind of mnemonic seed coinbox used. I tried importing into Iancoleman and got a different address (BTC, ETH, and LTC) also. You or others will be confused if the company closes the website/wallet because I didn't find how to access a private key on a phone app also.

The private key was in setting>security but you're right, right now it disappeared, now you can back up the wallet on google drive (?).

I have a very little amount on this wallet and I tried to move it to Electrum wallet, but the cost for the transaction is higher than the amount itself, so either I leave it there or I don't know what else to do...

[bob123]

I have a very little amount on this wallet and I tried to move it to Electrum wallet, but the cost for the transaction is higher than the amount itself, so either I leave it there or I don't know what else to do...

If sending the transaction with the lowest possible fee, which is  1 sat/vB, would cost more in fees than it would transact, than you can't do anything since the amount is too small and not worth using/transacting.
Did you set the lowest possible fee?

Also, did you check how many inputs your transaction is using? There might be lots of small dust UTXO's which increase the transaction size and therefore doesn't make it worth to transact the other non-dust UTXO's ?
What is the size of your transaction, how many inputs are you using?