Wallet Compatibility

[Fishbones78]

Hi,
I was wondering, is a MultiBit created wallet compatible with Bitcoin-QT? What are the dangers of having a "lite" wallet like MultiBit? I'm thinking of getting myself a secure wallet for me to deposit into (a savings wallet) but I would rather it be in MultiBit than Bitcoin-QT. This is because if I plug it in once a year to withdraw (the savings wallet) I don't want to have to download the whole blockchain...

Thanks

[1715177029]

1715177029

[1715177029]

1715177029

[1715177029]

1715177029

[1715177029]

1715177029

[bitsta]

Hi,
I was wondering, is a MultiBit created wallet compatible with Bitcoin-QT? What are the dangers of having a "lite" wallet like MultiBit? I'm thinking of getting myself a secure wallet for me to deposit into (a savings wallet) but I would rather it be in MultiBit than Bitcoin-QT. This is because if I plug it in once a year to withdraw (the savings wallet) I don't want to have to download the whole blockchain...

Thanks

Multibit is opensource and only downloads about 1-30 MB depending on the number of transactions you ve done.
Multibit isn't more risky than the QT when it's about losing your coins. And reinitializing the blockchain
in Multibit, in case of key-import takes also "ages" because the client has to go through the whole chain
if no start-point is definied.

remember, the biggest risk to lose bitcoins is the person infront of the computer.
If you want to use bitcoin as a longterm investment i d recommend you to transfer the
coins to a cold wallet and hide the private-key (printed & digital[offline]) at a secure place.

If you want to keep them on your computer make sure he s clean.
Antivirus, Firewall & Co. will help you minimizing the risk to lose coins.
Don't install/run unverified software. Try compiling your own wallets.
Don't use download-URL's from forums/advertising and other 3rd party websites.
Always be sceptical and check everything multiple times.

cheers,
bitsta

[Fishbones78]

Hi,
I was wondering, is a MultiBit created wallet compatible with Bitcoin-QT? What are the dangers of having a "lite" wallet like MultiBit? I'm thinking of getting myself a secure wallet for me to deposit into (a savings wallet) but I would rather it be in MultiBit than Bitcoin-QT. This is because if I plug it in once a year to withdraw (the savings wallet) I don't want to have to download the whole blockchain...

Thanks

Multibit is opensource and only downloads about 1-30 MB depending on the number of transactions you ve done.
Multibit isn't more risky than the QT when it's about losing your coins. And reinitializing the blockchain
in Multibit, in case of key-import takes also "ages" because the client has to go through the whole chain
if no start-point is definied.

remember, the biggest risk to lose bitcoins is the person infront of the computer.
If you want to use bitcoin as a longterm investment i d recommend you to transfer the
coins to a cold wallet and hide the private-key (printed & digital[offline]) at a secure place.

If you want to keep them on your computer make sure he s clean.
Antivirus, Firewall & Co. will help you minimizing the risk to lose coins.
Don't install/run unverified software. Try compiling your own wallets.
Don't use download-URL's from forums/advertising and other 3rd party websites.
Always be sceptical and check everything multiple times.

cheers,
bitsta

Thanks for the tips, I'll create a new wallet on a rarely used computer of mine (old windows XP thing, formatted it a couple of weeks back and has been used for around 10 minutes since) and then move it over to a freshly formatted USB stick and optical disk. Then I'll stick the private key to the disc and drive

[BookLover]

I was wondering, is a MultiBit created wallet compatible with Bitcoin-QT?

No, but it's easy enough to send coins from one client to the other.  Also, if you need to, you can import you private keys into Bitcoin Core.

[activebiz]

the most important info about any btc wallet file is the private key. you might want to securely  extract these and keep them safely. you should be able to import them to any bitcoin wallet.

[JohnLight95]

Hi,
I was wondering, is a MultiBit created wallet compatible with Bitcoin-QT? What are the dangers of having a "lite" wallet like MultiBit? I'm thinking of getting myself a secure wallet for me to deposit into (a savings wallet) but I would rather it be in MultiBit than Bitcoin-QT. This is because if I plug it in once a year to withdraw (the savings wallet) I don't want to have to download the whole blockchain...

Thanks

Multibit is opensource and only downloads about 1-30 MB depending on the number of transactions you ve done.
Multibit isn't more risky than the QT when it's about losing your coins. And reinitializing the blockchain
in Multibit, in case of key-import takes also "ages" because the client has to go through the whole chain
if no start-point is definied.

remember, the biggest risk to lose bitcoins is the person infront of the computer.
If you want to use bitcoin as a longterm investment i d recommend you to transfer the
coins to a cold wallet and hide the private-key (printed & digital[offline]) at a secure place.

If you want to keep them on your computer make sure he s clean.
Antivirus, Firewall & Co. will help you minimizing the risk to lose coins.
Don't install/run unverified software. Try compiling your own wallets.
Don't use download-URL's from forums/advertising and other 3rd party websites.
Always be sceptical and check everything multiple times.

cheers,
bitsta

Good advice.

I will also add that you should be wary of everyone and every service when it comes to your BTC, I have been scammed out of more than 20 Bitcoin since using it for nearly 2 years.