Topic: Bitcoin wallets for noobs - how to transfer private keys? (Read 3251 times)

Description:


 - http://en.bitcoin.it/wiki/Private_key#Base_58_Wallet_Import_format

and related:

 - http://en.bitcoin.it/wiki/User:Casascius/Base58Check-encoded_objects_proposal#Proposal_to_standardize_the_Sipa-format_key

Thank you! This is exactly the answer I was looking for. Actually, I use BitcoinSpinner on my phone, and liked that the export process was so clear. I was wondering what the format was and if it would allow me to import it to other wallets. Thanks!

Now I just have to go read what the SIPA format is and who supports it.

BitcoinSpinner for Android is comparable to the blockchain.info wallet with the exception that the private key never leaves the phone unless you choose to export it. BitcoinSpinner was designed with simplicity in mind and allows you to export the private key as a QR-code or as a string on your clipboard. The format used is SIPA, which is pretty standard.

Yep, there's no easy way to avoid issues with keyloggers, trojans, viruses, and other malware.  Armory deals with that issue by keeping your private keys on an air-gapped offline computer.  Perhaps someday in the future that issue will be handled with hardware based wallets.  In the meantime you have to choose between security and convenience.

I yearn for noob-friendliness as well... Does it have that?



Wow! I did not know that, that's great! I mean, it's still vulnerable to keyloggers, etc. but I guess anything PC-based is... And if the site is hacked and the code changed...?? I need to look at this browser extension.

I believe that Electrum, MultiBit, Armory, Bitcoin-Qt, and https://blockchain.info/wallet all provide a method for exporting private keys in plaintext using the standard Wallet Import Format.


I'm pretty sure the blockchain.info wallet is open-source, so you can read the code and determine if you can trust it (or trust that experts in the community have already validated the code is safe).  Blockchain.info stores your private keys in encrypted format in their database and does not send your password to their servers, so they cannot spend/steal your bitcoins.  There is a blockchain.info browser extension that you can install that should alert you if the source code that your browser receives is not safe.

Use armory. It has all you yearn and much more. I personally use that to secure my funds.

Wallets are usually non-compatible between clients but the private keys and addresses are compatible. All desktop/online clients I'm aware of can import/export keys and addresses. Not sure if Android/iPhone apps have that functionality.

Some clients like Electrum have deterministic wallets where all your keys are be generated from a single seed (12 word list). In this case storing the seed is enough to recover all the keys and would be done before exporting them to some other client.

Always encrypt your wallet and always back it up in a few locations. Numerous people have lost their coins due hard drive crashes and trojan software. If you have a significant amount of Bitcoin then seek out info on offline/paper wallets as a secure "savings" account.

Exactly, the question is which apps let me export/see my private keys in plaintext or some standard format. Backwards-compatible only works if you know how old software works. In this case, we need future-proof to be backwards-compatible.

That's a real shame. If bitcoin is to gain traction, it needs noob-friendly solutions. And they better be open source or else we'll have wallets stolen and trust lost. So far, I think I'll start recommending using blockchain.info just because it's the most user friendly (and at the same time feature packed if you're looking for it). It's clean, simple, and has both web and mobile (I assume they're synced) and has many options for backing up / exporting private keys.

The only thing is I have no idea who operates the site and if they're trustworthy. My guess, as naive as it may be, is the common "it's not in [service]'s interest to give bitcoin a bad rap, seeing as they are a big bitcoin player"... That doesn't usually work for me, but I guess that's what I can recommend at the moment...

Well, private keys are data that certainly any future Bitcoin client should be able to import (being backwards-compatible is pretty much a given).  Now if the data is in QR code form and a few years from now QR codes are obsolete (let's say some other data transfer becomes used and QR codes fall by the wayside) then there should also be the private key printed so that it could be manually entered as well, I suppose.

The term "noob-friendly" means someone is handling the gory details for the noob.   That's what a hosted (shared) EWallet does.  Coinbase, for instance, might be considered as being noob-friendly.  The problem is they store the user's coins, and thus the user doesn't get the private keys, only the ability to make deposits to those addresses and the ability to submit requests for withdrawals.

But you don't get much simpler than something like Coinbase for noobs.  There's no mobile app from them though.  

If a mobile app is desired, then your options go to Blockchain for Android (or iOS) or Bitcoin Wallet for Android.    But depending on your definition of noob, those methods require some tech competency so as to not lose your funds (e.g., with Blockchain, to also log in via web, then link the mobile, assign an alias to the account, set up an e-mail and have backups delivered via e-mail, etc.)

So the answer really is ...  sorry, there are no local wallet options that are noob-friendly.   Well, there is.  It is called a Casascius physical bitcoin.  Once it arrives by mail, throw it in the safe.  You now have yourself a noob-friendly bitcoin wallet that is secure and a year or so from now when good noob-friendly local wallet options are available that coin can be traded with someone who will load up the noob-friendly wallet with some value in exchange for the Casascius coin.

The Android "Bitcoin Wallet - by Andreas Schildbach" application (not sure if there is an iPhone/iPad equivalent) is very user friendly, albeit you have to download the block-chain so it's best to have phone/tablet hooked up to WiFi for an hour or two - after than updates of the blockchain are fairly econmic on 3G/4G data allowance.

The wallet prints a receive address on the client when you first start it - so it's pretty much 'novice' proof - which is what you want. Options confuse people, especially the many esoteric ones that come with most Bitcoin Wallet applications.

Alternatively you could go for online wallets such as: http://www.instawallet.org or for a more managed solution; http://blockchain.info.

Cold storage, air gapped and paper wallets are not for noobs looking for their first client.

I'm aware of security measures to secure your wallet. What I'm looking for is a future-proof and noob-friendly client.

You can have as much addresses as you can generate, so why to bother with transferring private keys. And with the case with paper wallets and cold storage you should use special clients such like armory, hw device or other "air-gapped" client. Just saying..

So I have a few friends who are interested in buying bitcoin. After disclaiming caution I get stuck with recommending a client. I'm aware of the choice in clients, however what I'm not sure about (and I must say is not clearly documented) is on top of the ability to make backups of private keys - how these backups are made. Most importantly, will noobs be able to easily transfer their private keys between clients?

I assume many clients make password protected backups (with some sort of encryption), which would likely not be compatible with the restore or import feature of a different client. Unless private keys can be exported in plaintext or using a standard password protection method, is there an easy way to make backups in existing clients that you can be sure will be importable in the future?