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Author Topic: Multiple watch-only wallets possible?  (Read 100 times)
Wingler (OP)
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August 15, 2022, 10:33:35 AM
Merited by OmegaStarScream (3), ABCbits (1)
 #1

I am fairly new to Bitcoin and recently I created a cold wallet using Tails on an USB-Stick. To see the history of my transactions, I created a watch-only wallet on my online machine. Now I have two questions:

1. If I want to transfer Bitcoin to my cold wallet, it is enough to create a recieve request in the watch-only wallet and send it to the adress generated by this request?
2. Is it possible to create multiple watch-only wallets on different machines for the same cold wallet?

Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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OmegaStarScream
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August 15, 2022, 10:37:02 AM
Merited by xandry (4), hosseinimr93 (1)
 #2

1.  I'm guessing you imported the xPub instead of one address? If so, then yes. That should be sufficient.
2. Yes. That's possible. There's also Bluewallet if you want to watch your wallets from your mobile device (not sure if electrum mobile version does that): https://bluewallet.io/watch-only/

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August 15, 2022, 10:37:05 AM
Merited by xandry (4), hosseinimr93 (1)
 #3

Yes to both questions.

1. If you've properly created the cold-storage set-up, your watching-only wallet should be able to re-create addresses from your offline wallet.

2. There's nothing wrong with it since the coins aren't stored in your wallets.
Your coins are in the blockchain, your wallet only contains the necessary keys to spend those ("public keys" in your watching-only and "private keys" in your offline wallet).
It's like creating a duplicate car/home key.

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bitmover
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August 15, 2022, 10:38:36 AM
 #4

1. If I want to transfer Bitcoin to my cold wallet, it is enough to create a recieve request in the watch-only wallet and send it to the adress generated by this request?
Yes.

However,  you don't need to create a receive request (only if you want).
Just get your Public address from the cold wallet and transfer the funds to that address.

Public addresses can only receive, not spend, so it is safe to share them.

Quote
2. Is it possible to create multiple watch-only wallets on different machines for the same cold wallet?

Yes. Simple import the xpub or each individual address into the wallets you want.
You can create as many as you want , there is no limit.

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Wingler (OP)
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August 15, 2022, 10:44:03 AM
Merited by nc50lc (1)
 #5

Thank you for your answers Smiley
Just to clear things up, I used Electrum as Software and created the watch-only with the master public key as described in the Electrum docs.
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August 15, 2022, 12:07:39 PM
 #6

For number 1, if you use the device with the watch only wallet for a lot of things and there's a decent chance it could get malware then I'd suggest checking the address matches the offline one for larger transfers but it might not matter as much to you for smaller ones.
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August 15, 2022, 02:17:50 PM
 #7

1. If I want to transfer Bitcoin to my cold wallet, it is enough to create a recieve request in the watch-only wallet and send it to the adress generated by this request?
Take note that you don't have to make a request before receiving fund.
You can go to "Addresses" tab and pick any of addresses you see there. All of those addresses are yours and can be used for receiving bitcoin.

If you don't see "Addresses" tab, click on "View" at top of the window and select "Show addresses".

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khaled0111
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August 15, 2022, 03:50:29 PM
 #8

For number 1, if you use the device with the watch only wallet for a lot of things and there's a decent chance it could get malware then I'd suggest checking the address matches the offline one for larger transfers but it might not matter as much to you for smaller ones.
This is a good point as online devices are more prone to get infected with malwares (ie. clipboard hijacker malware. However, you don't really want to open your offline wallet every time you are going to receive a new payment. This is not a good practice if you want your wallet to remain as safe as possible.
A better alternative would be to use the ismine command from the watch only wallet to check if the copied address does really belong to your wallet. Can someone confirm if it's possible to run commands from a watch only wallet, pls.

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August 15, 2022, 04:27:37 PM
Merited by khaled0111 (2), ABCbits (1)
 #9

Can someone confirm if it's possible to run commands from a watch only wallet, pls.
To make sure of that, I just created a watch-only wallet and tested it with ismine command in console tab. As shown in the following image, that's possible.



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