... Many wallets (especially ones that use a seed) do not have the capability to store an imported private key, so they "sweep" it instead....
i just know that. thanks
Topic: Change Wallet (Read 384 times)
i just know that. thanks
1. Because of the way a Bitcoin transaction works, sending bitcoins typically involves sending more than you want. It's kind of like you want to pay $5, but all you have is a $20 bill. The extra amount is sent to a newly created address in your wallet called a "change" address. That is the second output in the transaction. The wallet can spend coins in that address just like any other address it manages.
2. When you "import" a private key, the new wallet simply copies and stores the imported private key and uses it just like any other private key that it manages. When you "sweep" a private key, the new wallet sends the bitcoins held by the private key to itself using a normal bitcoin transaction. Many wallets (especially ones that use a seed) do not have the capability to store an imported private key, so they "sweep" it instead.
Also, you (like many others) are confusing the terms "wallet" and "address". A "wallet" is a container for private keys (and the associated addresses). An "address" holds bitcoins. There is really no such thing as a "wallet address" because a wallet typically has many addresses. My Mycelium wallet has over 400 private keys/addresses.
2. When you "import" a private key, the new wallet simply copies and stores the imported private key and uses it just like any other private key that it manages. When you "sweep" a private key, the new wallet sends the bitcoins held by the private key to itself using a normal bitcoin transaction. Many wallets (especially ones that use a seed) do not have the capability to store an imported private key, so they "sweep" it instead.
Also, you (like many others) are confusing the terms "wallet" and "address". A "wallet" is a container for private keys (and the associated addresses). An "address" holds bitcoins. There is really no such thing as a "wallet address" because a wallet typically has many addresses. My Mycelium wallet has over 400 private keys/addresses.
1. The transfer created 2 outputs from exchange to wallet.
How do i transfer the change wallet coins? Do I use my private key?
2. Can someone also explain "sweep" and "import" to me?
TIA
How do i transfer the change wallet coins? Do I use my private key?
2. Can someone also explain "sweep" and "import" to me?
TIA
if you have any problem about bitcoin and wallet ask HCP user will help you
Is paper wallet the same as cold storage?
I strongly advise you read some comprehensive articles on WWW (Google them using phrases like "bitcoin paper wallet", "bitcoin cold storage", "bitcoin hardware wallet"), they are great source of information. Your question is imposible to answer in a short post and involves some basic concepts that you need to grasp well to be able to safely sail the bitcoin ocean. This is my advice only, you'll do what you like, and to answer your question: a paper wallet, if created correctly (and it is a great IF) is a cold wallet. Not every cold wallet is on paper, though. Not every paper wallet is a secure cold wallet.
Is paper wallet the same as cold storage?
Paper wallets were the standard method of cold storage before hardware wallets were built. Paper wallets are private keys printed out on a piece of paper. If generated and printed with a secure, offline computer, paper wallets are secure cold storage.
1. The transfer created 2 outputs from exchange to wallet.
How do i transfer the change wallet coins? Do I use my private key?
The change is owned by the exchange, not by you. You only own the amount you sent to the paper wallet.How do i transfer the change wallet coins? Do I use my private key?
Which wallet are you using?
Paper Wallet
Which wallet are you using? the sweep is basically sending funds (using the private keys) to an address of your current wallet while importing is moving the same address and it private keys to that wallet. The sweep option is better If you're using a wallet with a seed otherwise it won't be recoverable. As for change address, bitcoins should be spendable just fine.
1. The transfer created 2 outputs from exchange to wallet.
How do i transfer the change wallet coins? Do I use my private key?
2. Can someone also explain "sweep" and "import" to me?
TIA
How do i transfer the change wallet coins? Do I use my private key?
2. Can someone also explain "sweep" and "import" to me?
TIA
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