Message signing utility

[Hispo]

I am relatively new in the crypto world, so I have a question about message signing.
I like the idea of being able to provide proof one has the power over a specific address without making transactions.

However, I have never been in a situation I needed to do so.

(perhaps only once, when a dapp asked me to sign a message in order to change my profile settings)

So I would like to read about the utility of this feature from more experienced people.

Have you ever been in a situation you needed to sign a message with your BTC address?

Thanks.

[ChuckBuck]

You might want to read this topic: [Merit] Hey Bitcoiners! Can You Send Encrypted Messages? to get familiar with implementing signed messages from a fixed address. Signing a message from an address is very important to verify that a person is the owner of an address, it is mainly used for trading, or, can also be used to get your account back in case your account is stolen. Any follow-up questions, just post them here and you'll be answered promptly 

[Oshosondy]

You might want to read this topic: [Merit] Hey Bitcoiners! Can You Send Encrypted Messages? to get familiar with implementing signed messages from a fixed address. Signing a message from an address is very important to verify that a person is the owner of an address, it is mainly used for trading, or, can also be used to get your account back in case your account is stolen. Any follow-up questions, just post them here and you'll be answered promptly 

Hispo is not asking how to encrypt a message using PGP key, he is asking about how to sign a message using bitcoin address.

Maybe you mean this thread also by OgNasty: [Merit] Hey Newbies! Can You Sign A Message?

The best to do is to make use of this guild: How to sign a message?!

Overview of how to sign a message using bitcoin address
You will need a wallet that can sign a message like electrum or mycelium.
Generate an address to sign a message
Look for an option to sign and verify a message
Paste the address you generated on the same wallet
Write your message, including the present date may be needed
Press on sign
The signature will appear

Use the guild above for the full study about it.

[ChuckBuck]

Hispo is not asking how to encrypt a message using PGP key, he is asking about how to sign a message using bitcoin address.
Maybe you mean this thread also by OgNasty: [Merit] Hey Newbies! Can You Sign A Message?

Ah, yup, it's my bad. I was in a hurry and posted a topic that is not completely correct, but anyway, I think it is a good topic to refer to besides the one you bring up  In general, signing a message is quite easy, besides, there are also many tools to verify if a message is signed. If I remember correctly, coinbase also supports us if we want to sign a message, but I don't recommend anyone to use coinbase as a wallet, it's not really good.

[Welsh]

Signing a message varies based on the software you are using. The principle is the same, but the UI is a little different across different software. What software are you using to access your wallet? So, we can provide a more specific guide to sign a message.

Have you ever been in a situation you needed to sign a message with your BTC address?

Yeah, I've been in the situation that I've been required to sign an address, many times in fact. However, this is entirely dependent on you, and how you use Bitcoin. Generally, signing an address is important for trading, because you might want to show proof of funds or you might want to verify that you are who you say you are. However, if you aren't trading for goods or services, and are simply just investing in Bitcoin. Its unlikely you would need to sign an address.

It can also be used as a way of linking something to that address. So your account for example if you were to ever lose access to it. There are multiple reasons why you would sign an address, but I would say the general investor doesn't at least not often.

[Hispo]

Thank you all for your replies and yes, I already know how to sign and verify.

I did not know one needed to sign a message in order to trade in some situations, I thought the bitcoin would be send to an address controlled by the broker as colateral for the operations or something like that.

[Welsh]

Thank you all for your replies and yes, I already know how to sign and verify.

I did not know one needed to sign a message in order to trade in some situations, I thought the bitcoin would be send to an address controlled by the broker as colateral for the operations or something like that.

Ah right, I see. Yeah, so usually this is done at proof of funds or to prove that you have escrowed an amount. If you are using an escrow, then they will usually sign the address which is holding the funds to let both parties know that they are basically in control, and therefore the trade can proceed. Unless your escrowing, you'll only need to sign a message as proof of funds, as some times people require this if an escrow isn't being used, and they intend to go first. Really though, normal usage you should be using an escrow whenever possible, and the need for you to sign a message isn't very frequent at all.

If you are trading, then signing a message isn't needed, unless you are doing peer to peer trading, and they require proof of funds.