Does it make sense i migrate to an HD wallet?

[gabrio81]

hi,

I have my btc core, all going well, etc... and i see "HD" key generation disabled... i think i created the wallet before this feature was existing, so does it make sense that i migrate to an HD wallet? what are the benefits?

i am quite happy with the way it works, and backup recently, etc.

thanks!
Gabrio

[1714121290]

1714121290

[1714121290]

1714121290

[TryNinja]

AFAIK, the only benefit is not having to constantly backup your wallet file every time the keypool buffer is used. You would only need to backup it once and you will be good forever.

[jackg]

If you backup often then no, you're fine to keep using a non HD wallet.

If you have an HD one you only need one backup to recover everything but there's normally a key pool of a thousand new generated addresses beyond the ones currently in use afaik (but it might be up to 1000 and then produces more i can't exactly remember)...

[gabrio81]

thanks guys, i usually backup regularly, it's so fast operation anyway, when i send out or get in coins, i always do that.

but if i wanted to..... (geek here), is there a step by step guide or something? 

[LoyceV]

there's normally a key pool of a thousand new generated addresses beyond the ones currently in use

Correct. Go to Help > Debug window > Console and enter getwalletinfo to see the details:

Code:

"keypoolsize": xxx,

but if i wanted to..... (geek here), is there a step by step guide or something?  

I always thought you'd need to create a new wallet, but Stack Exchange says you can use -upgradewallet.

If it were me, I'd go old school anyway: create a new wallet, make a backup, make a few more backups, and transfer funds from the old wallet to the new one.

[gabrio81]

thanks for replies, i will check stackexchange as well.

[gabrio81]

did anyone try with the -upgradewallet option?