Bread Wallet now Coinbase Wallet - Help Needed

[PrivacyG]

so this buyout was it just to try and force people using brd wallet to start using coinbase wallet? coinbase must be getting desperate for new people to jack around...

It is rather a very bad move on their side.  Will bring some new users to their Coinbase wallet but is forcefully moving Bread users to Coinbase going to work as they plan?  Because I doubt so.  People tend to reject an idea when it becomes enforced.  In fact, they even tend to do the opposite.

I used Bread myself and it was a good wallet.  But I always had some reticence to whatever Coinbase has created.  Now I am even more disgusted by their doings.

1st is that it looks like they did not get the derivation path correct. Which seems odd, since it IS working for some. So along those lines is it just checking a lot of paths to find funds.

Is there no way to search through say a thousand derivation paths of a seed quickly for balance?  Maybe there are a few default ones as you say, would be helpful to have a list for future reference and if others here are confronted with the same issue, maybe they get to find their path by themselves and chime in here.

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Regards,
PrivacyG

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[o_e_l_e_o]

Is there no way to search through say a thousand derivation paths of a seed quickly for balance?  Maybe there are a few default ones as you say, would be helpful to have a list for future reference and if others here are confronted with the same issue, maybe they get to find their path by themselves and chime in here.

There are multiple ways you can try.

Importing the seed phrase to Electrum and selecting "Detect existing accounts" as we discussed above will find the most common ones.

You can also extract your master public key and paste it in to this website: https://blockpath.com/wallets/local/101?action=appxpub. The problem with this is that since it uses a master public key, you cannot derive any hardened paths and so it is of very limited use for scanning a master public key from a seed phrase. Rather, it would be good for scanning an extended public key from a level already after the hardened paths, such as at m/44'/0'/0'.

There is this website which tells you the derivation paths for many of the most common wallets: https://walletsrecovery.org/

Alternatively you can stick you seed phrase in to an offline version of https://iancoleman.io/ and generate any derivation paths you like. This is only really useful if you know the address you are looking for though, since otherwise you would need to import every address you generate in to a wallet to check for balance.

[larry_vw_1955]

And chill out with all the hate towards Coinbase, there are much worse services and you don't have to use any of them, just ignore them.

But there aren't that many which buy out a wallet, stop that wallet from working, tell people to import their seed phrase to a specific wallet, but offer no guidance to the fact that the derivation paths are different, the importing won't work properly, that people are free to choose other wallets, and ignore all the users asking for help on Reddit and Twitter. This whole situation has been particularly shitty on Coinbase's part.

this.

also, the "if you don't like them then use another service" argument is kind of weak. you are almost forced to use them if you are in the usa. no matter if you like them or not. they should be more heavily regulated with regards to how they interact with customers to ensure customers are being provided the best possible customer service. For example, having a phone #. That should be a requirement of them. And another would be to answer fast. as it is right now, they just thumb their nose at customers and if something goes wrong all you can do is submit a support ticket and who knows how long that will take if they ever act on it at all.

i wonder how many new support tickets people will put in who are having trouble with this migration. i had a support ticket sit open for months before an actual person replied. another time they closed my support ticket without even responding, all i got was an automated message saying it had been closed. shitty company.

[ChiBitCTy]

So you’re saying I can use the bread wallet website and I should be able to then just move my coins off of it from there versus the app? I didn’t think there was an available website to even use. Maybe I’m miss understanding you here.

You don't need to use their website at all if you already have seed words, it's not like they are stored online or on their servers.
Transaction fees are low these days so you can even send all your coins to any other wallet address that you control, it can be software or hardware wallet of choice.
And chill out with all the hate towards Coinbase, there are much worse services and you don't have to use any of them, just ignore them.

I’m sorry but no, I will not chill out about Coinbase. They are a corrupt scumbag company who’s been pulling corrupt bullshit on their customers for years. This is yet just another example of why they are one of the worst companies on the planet and that’s not an exaggeration. I’ve called them the PayPal of Crypto for years because that’s exactly who they are. Brian is a snake who doesn’t give two shits about his customers. Spends a ridiculously little amount on customer support and I’m amazed anyone still uses them (mostly those who don’t know any better).

 This bread wallet take over is a complete mess and shows exactly who they are.


Thanks everyone for the guidance, my buddy helped me move my coins off bread a few hours ago.

so this buyout was it just to try and force people using brd wallet to start using coinbase wallet? coinbase must be getting desperate for new people to jack around...

Lol exactly

this.

also, the "if you don't like them then use another service" argument is kind of weak. you are almost forced to use them if you are in the usa. no matter if you like them or not. they should be more heavily regulated with regards to how they interact with customers to ensure customers are being provided the best possible customer service. For example, having a phone #. That should be a requirement of them. And another would be to answer fast. as it is right now, they just thumb their nose at customers and if something goes wrong all you can do is submit a support ticket and who knows how long that will take if they ever act on it at all.

i wonder how many new support tickets people will put in who are having trouble with this migration. i had a support ticket sit open for months before an actual person replied. another time they closed my support ticket without even responding, all i got was an automated message saying it had been closed. shitty company.

Nah you don’t have to use Coinbase what so ever. There are better exchanges like Kraken, Gemini and even Binance US and there’s certainly tons of hot and hard wallet options better to use than their hot wallet.

I agree with you, they need to amp up there customer services big time. However it’s not much better today than when I made my first transaction with them back in 2014, about the same level of support which is absolutely insane considering they’ve now gone public and raised billions, not to mention make billions. It’s unacceptable.

[HCP]

Ahhh good ol' BRD wallet... I remember getting annoyed at that wallet years ago because the developer had implemented this thing where you had to enforce a bunch of security features on your device for the wallet to work. I don't recall the specific details but I vaguely remember it annoyed me greatly at the time because I was heavily into Android OS development/testing and it was making life difficult trying to do that and test "Bread" (as it used to be known).

Interesting that they sold out... that is one way to make money from creating a "free" wallet I suppose

[o_e_l_e_o]

i wonder how many new support tickets people will put in who are having trouble with this migration. i had a support ticket sit open for months before an actual person replied. another time they closed my support ticket without even responding, all i got was an automated message saying it had been closed. shitty company.

That's Coinbase for you. Their subreddit is permanently filled with people complaining their support ticket has been ignored for months, tickets closed without resolution, accounts locked for no reason, and so on.

Interesting that they sold out... that is one way to make money from creating a "free" wallet I suppose

The value is in your data. Bread Wallet claimed to have over 10 million users. What do Coinbase have to gain from buying them out? Many of those users would move over to Coinbase's wallet, but they don't make any money from that. Some might then go on to sign up at Coinbase, sure, but most people using Bread Wallet probably already had established accounts at various exchanges, and don't need another one, so not much money to be made there either. More exposure and brand recognition? Maybe. But the data of ~10 million users? Extremely valuable indeed, especially when that data can be linked in to Coinbase's in house blockchain analysis company, which then allows them to charge more for this larger and expanded service from all the various governments and government agencies they sell these capabilities to.

[RickDeckard]

The value is in your data. Bread Wallet claimed to have over 10 million users. What do Coinbase have to gain from buying them out? Many of those users would move over to Coinbase's wallet, but they don't make any money from that. Some might then go on to sign up at Coinbase, sure, but most people using Bread Wallet probably already had established accounts at various exchanges, and don't need another one, so not much money to be made there either. More exposure and brand recognition? Maybe. But the data of ~10 million users? Extremely valuable indeed, especially when that data can be linked in to Coinbase's in house blockchain analysis company, which then allows them to charge more for this larger and expanded service from all the various governments and government agencies they sell these capabilities to.

I fully subscribe this point of view as it also shares similarities with my previous comment[1] regarding this subject as well. I know this has been said before, but I say it again : The US government (mostly Homeland Security) is aiming to spend[2] - if the requirements are fulfilled by Coinbase - a total of $4,480,060 USD for the very same company that they are trying to regulate. While Coinbase bashes the governments on the outside and social networks, they are ranking up millions from the clients whose rights they so deeply care but only when they are not selling them to governmental entities.

Each and every day I advise someone regarding BTC I try my best to steer people to P2P markets. Yes the rates are a bit higher but it comes to a point that we either have to value our privacy as human beings and accept higher prices, or just be a pawn in a chess game where the King plays in both sides...
[1]https://bitcointalk.org/index.php?topic=5391541.msg59665149#msg59665149
[2]https://techinquiry.org/explorer/vendor/coinbase%2C%20inc./

[DaveF]

So it turns out there is another step added to make your life easier.
In the Coinbase wallet go to advanced and then toggle BRD BTC scanning.
Seems to make it instant.



Don't know if it was already there or added in some recent update.

-Dave

[o_e_l_e_o]

In the Coinbase wallet go to advanced and then toggle BRD BTC scanning.

Presumably this makes the Coinbase app scan BRD's non-BIP39 derivation paths as we discussed above.

[ChiBitCTy]

i wonder how many new support tickets people will put in who are having trouble with this migration. i had a support ticket sit open for months before an actual person replied. another time they closed my support ticket without even responding, all i got was an automated message saying it had been closed. shitty company.

That's Coinbase for you. Their subreddit is permanently filled with people complaining their support ticket has been ignored for months, tickets closed without resolution, accounts locked for no reason, and so on.

Interesting that they sold out... that is one way to make money from creating a "free" wallet I suppose

The value is in your data. Bread Wallet claimed to have over 10 million users. What do Coinbase have to gain from buying them out? Many of those users would move over to Coinbase's wallet, but they don't make any money from that. Some might then go on to sign up at Coinbase, sure, but most people using Bread Wallet probably already had established accounts at various exchanges, and don't need another one, so not much money to be made there either. More exposure and brand recognition? Maybe. But the data of ~10 million users? Extremely valuable indeed, especially when that data can be linked in to Coinbase's in house blockchain analysis company, which then allows them to charge more for this larger and expanded service from all the various governments and government agencies they sell these capabilities to.

Don't they make a portion of the transaction fees on their hot wallet ? ( Sure know they do when sending coins off of their exchange, which is insane that exchanges don't allow for being able to selecting transaction speeds, but that's a whole other story).  

Now I understand what you're saying about gaining customer information, which is extremely valuable, but I downloaded the wallet just to follow the migration direction they provided and I don't remember providing them any of my information? Maybe (likely) I'm missing something?

So it turns out there is another step added to make your life easier.
In the Coinbase wallet go to advanced and then toggle BRD BTC scanning.
Seems to make it instant.

Thanks bud, I was able to move my coins off but this is good to know.  Maybe I should post it on the Bread wallet reddit sub just to let others know.

[hosseinimr93]

Don't they make a portion of the transaction fees on their hot wallet ?

In the case they want to charge extra fee, they have to add an extra output to your transaction. I haven't ever made any transaction using their wallet, but I don't think they do so.
The only fee you pay when using their non-custodial wallet is the fee you pay to miners.

....................and I don't remember providing them any of my information? Maybe (likely) I'm missing something?

Now, they know your IP address and can link it with your addresses, your previous transactions and your balance.
As their wallet is close-source and we don't know what is happening behind the scene, it's also possible that your seed phrase has been stored in their server. With having your seed phrase, they can know all your private keys, public keys and addresses.

Thanks bud, I was able to move my coins off but this is good to know.  Maybe I should post it on the Bread wallet reddit sub just to let others know.

It's still better to use electrum. Recommend them to use electrum and avoid any close-source wallet, especially coinbase.

[virasog]

I don't recommend using coinbase wallet. Because it's close-source and we don't know what's happening behind the scene.
If you have bitcoin, as suggested by dkbit98, you can use electrum for accessing your fund. Even for your altcoins, there should be many other alternatives better than coinbase.

Warning:
Download electrum only from its official website and do not forget to verify your download.

Now i am really confused as what to do. I migrated my private keys in the coinbase wallet and my funds are now appearing in the coinbase wallet.
Since you told now that it is a closed source, this means that they can have access to my private key. To keep me on the safe side, i can close my coinbase wallet and open the same wallet by importing the seed in the electrum wallet. But since i put my seed once in the coinbase wallet, i will remain at risk forever as coinbase can do anything because of closed source 

[o_e_l_e_o]

But since i put my seed once in the coinbase wallet, i will remain at risk forever as coinbase can do anything because of closed source 

Correct. Even if Bread and Coinbase were both open source, by the time you've ported the same seed phrase across three wallets (and therefore typed it in at least twice on a device with internet access), I would consider it pretty risky to keep using it. Every time you enter your seed phrase in to any wallet you increase the risk of it being compromised somehow. Ideally seed phrases should only be entered in to offline devices in the case of emergency, and not just because you fancy using a new app.

So if you are considering moving to Electrum, then I would create a brand new Electrum wallet, write down your new seed phrase, and then send all your coins from Coinbase across to this new wallet.

[virasog]

So if you are considering moving to Electrum, then I would create a brand new Electrum wallet, write down your new seed phrase, and then send all your coins from Coinbase across to this new wallet.

I would consider doing this as i don't want to risk my hard earned money. Also in this migration process of moving my funds to a new Electrum wallet, i would like to safe the fee and use the minimum fee to transfer my bitcoins from non-custodial coinbase wallet to new Electrum wallet.
Any suggestions or tricks which can save me tx fees and process accomplished with the minimum fee possible?

[Pmalek]

Any suggestions or tricks which can save me tx fees and process accomplished with the minimum fee possible?

There are no tricks to Bitcoin transactions. Miners select those transactions paying the highest fees as they want their profits to be as high as possible. You have to ensure that your transaction is among those for there to be a miner incentive to include it in a block. The only way around it is if you know someone operating a mining pool who would gladly include your transaction into their block. I assume that is not the case.

At the time of writing, we have over 3.000 unconfirmed transactions. If the Coinbase wallet allows you to set your own fees, just use the minimum 1 sat/vByte. You might have to wait an hour or two for the 1st confirmation, but it doesn't matter. The transaction will confirm sooner or later unless we experience a surge in transaction fees that lasts for a while. In the last few months, 1 sat/vByte has often been enough.

[o_e_l_e_o]

I've never used Coinbase's wallet myself, but as Pmalek says, just set the fee to 1 sat/vbyte and be patient. Provided you are not concerned about not linking specific UTXOs together, then sending everything a single transaction will be cheapest. If you do have privacy concerns regarding different UTXOs in your wallet, then I'm not sure Coinbase's wallet even supports coin control, so you'd probably have to use a different client.

According to this page (https://help.coinbase.com/en/wallet/sending-and-receiving/adjusting-miner-fees) there should be an settings button near the fees field when you make a transaction which will allow to manually set the lowest possible fee.

Also, before you use Electrum, make sure you follow the correct steps to download and verify it properly: [GUIDE] How to Safely Download and Verify Electrum [Guide]

[Morpheus Eberhardt]

Hi,

Can someone please provide a safe recipe for migrating from a BRD wallet that includes both BTC and ETH to, let's say, the Coinbase Wallet or some other better noncustodial wallet?

Thanks in advance.

[Pmalek]

Can someone please provide a safe recipe for migrating from a BRD wallet that includes both BTC and ETH to, let's say, the Coinbase Wallet or some other better noncustodial wallet?

Not sure what you mean with recipe, maybe guide or instructions.

When you created your BRD wallet, you received and hopefully wrote down your seed. That's a BIP39 seed phrase compatible with any other wallet that supports that standard. If you don't want to use Coinbase, you can import it into Electrum, for example. But Electrum only works for Bitcoin.

Only download Electrum from the official website. Verify the signatures to ensure you have the genuine software signed by Electrum developers.
After that, it's time to import your seed. Create a new wallet, give it a name, and select Standard Wallet. Select I already have a seed. In the next step, you need to click on the options and then tick on BIP 39 seed and OK. Enter your seed and click ok. After that the wallet should ask you what type of wallet you are trying to recover. Select legacy if the addresses start with a 1, nested segwit if they begin with a 3, or native segwit if they begin with bc1. There should also be a button to scan standard derivation paths if you can't figure out how to select the correct option yourself.

You can also follow this guide if you want > https://bitcoinelectrum.com/restoring-your-multibithd-wallet-in-electrum/

When it comes to your Ethereum, you can import the same seed from BRD into MetaMask, for example. I don't know the step by step instructions, but it shouldn't be too difficult to figure out by just following the on-screen instructions. You can follow a guide like this one if you want > https://medium.com/publicaio/how-import-a-wallet-to-your-metamask-account-dcaba25e558d.   

Be aware that if you do all of the above, you are going to have a seed phrase imported across 3 different hot wallets. If any of them gets hacked, the hacker would gain access to all your coins. I would recommend you to create brand-new wallets with new seed phrases in both Electrum and MetaMask. Once you have imported your wallets, move your coins from the old wallet into the new ones. Consider purchasing a hardware wallet if you hold a significant amount.

[o_e_l_e_o]

After that the wallet should ask you what type of wallet you are trying to recover. Select legacy if the addresses start with a 1, nested segwit if they begin with a 3, or native segwit if they begin with bc1. There should also be a button to scan standard derivation paths if you can't figure out how to select the correct option yourself.

BRD wallet does not use the standard BIP44 based derivation paths of m/xx'/0'/0', but rather the older style BIP32 paths of m/0'. Simply selecting the script type will lead to empty wallets. You either need to select the script type and then change the derivation path to m/0', or more simply just hit the "Detect existing accounts" button.

I don't know if BRD uses the usual m/44'/60'/0' or m/0' for Ethereum, and I can't find any clear documentation online, so you'll need to check both.

[NotATether]

Guarda Wallet and Atomic Wallet are two non-custodial wallets which support both BTC and ETH (OWNR Wallet is a 3rd but last time I checked it has some minor stability problems on Linux). However, they do not have a feature for importing derivation paths or master private keys (Atomic does let you import MPKs I think but these are specificly only for its own software.)
You should definitely be able to make a BTC and ETH transaction sending your entire balance to these wallets though, as that should always work.