Topic: I created a wallet Electrum, but the blockchain Explorer doesn't see its address (Read 160 times)

I concur, while it is technically possible to use an "Electrum" (aka non BIP39 seed mnemonic) when using the "BIP39" box to generated nested SegWit addresses, I certainly would not recommend it. Because you get the "checksum failed" error even if you have typed all the words correctly, you cannot be certain you have not made any data entry errors (missing/transposed words etc). You would be in a much better position to create a "proper" BIP39 seed mnemonic, using a BIP39 wallet and then import that into Electrum. At least then you also have the backup of knowing that you've entered everything correctly.

However, even using a proper BIP39 seed has issues:

1. Electrum does not store "foreign" (aka BIP39) seed mnemonics in the wallet file. It only stores the xprv. This means that you cannot use the "Wallet -> Seed" option to recover the seed should you lose your "offline backup" of your seed mnemonic.

2. Possibility of seed mnemonic exposure while generating in one place and using in another etc.

3. Possibility of using a bad/exploited seed mnemonic generator.

4. As often noted in the Electrum dialogs, there is no guarantee that they will continue to support BIP39 in the future.


Whilst none of these are exactly "showstoppers", they are things that should be considered.

True, but Electrum doesn't generate BIP39 compatible phrases. You can make Electrum accept it as you say, but you will get a "checksum failed" error. This seed will also be accepted to Electrum without ticking the "BIP39" box but generate a different set of addresses. It won't be accepted to other BIP39 compatible wallets.

Given all that, I think it's probably over confusing for newbies, who could run in to problems when trying to restore their wallet to Electrum or elsewhere. Your method is obviously valid too, but I would have thought it would be better for them to generate a BIP39 phrase.

There is no need to use an external website. You can simply generate a new wallet using Electrum (in order to obtain a mnemonic phrase) and import the freshly generated mnemonic phrase there ('BIP39 seed' needs to be checked even though it follows a different standard). You will be asked to select the derivation path. P2SH-P2WPKH (nested SegWit) should be listed there.

For the sake of the newbies, it's definitely worth explaining here that Electrum can not create a new nested segwit wallet from scratch. If you want to use nested segwit with Electrum, you need to create the wallet elsewhere and import it in to Electrum.

The best way to do this is to use a reputable hardware wallet which is compatible with Electrum such as Ledger or Trezor.

If you don't have a hardware wallet, then you can use this site: https://iancoleman.io/bip39/
Download the site and run it on an airgapped machine. Generate a 24 word phrase and write it down on paper. Create a new Electrum wallet, select "Standard Wallet", "I already have a seed", and write your 24 word seed in the box. Then click "Options" and check "BIP39 seed". On the next screen, choose the middle check box "p2sh-segwit (p2wpkh-p2sh)", which should then change your derivation path to m/49'/0'/0'. This will create your new wallet with address beginning with "3".

You can generate two addresses from the same private-key, BUT they still are different addresses. It's not like 1 BTC in the bc1 address = 1 BTC in the 3 addresses.

Go with the middle term.

Either have a bech32 wallet (bc1 addresses) and a nested segwit (3 addresses) wallet for sites that don't accept it, or go full nested segwit. Do not go with Legacy addresses (starting with 1).

they're on the same private key, but the bc1 adress isn't used and thus you don't get any benefits from it.

As in, you can't magically transfer coins from your legacy adress to your bech32 adress despite them having the same private key. you still need an onchain transaction to do so = pay fees.

Do you mean you can have a legacy address to receive and the coins will be in the same private key as the bc1 address?

Always suggest people to use nested Segwit addresses (starting with a 3) and not legacy addresses. Nested segwit addresses are pretty much compatible with any site/service and are way better (and cheaper) than the Legacy addresses. I can't think of a reason to use Legacy over 3 addresses segwit.

Did you check it on another block explorer and see your funds there? If so you are good.

Much like AdolfinWolf you might run into a processor that will not handle it.
Also, sending to some people using services that do not support it might be an issue (like blockchain.com).
But, as time goes on it will be less and less of a problem as more services support it.

Also, keep in mind there is a way on Electrum to show legacy addresses to send and receive funds.

-Dave

Yes. Certain services like blockchain.com won’t recognize it. And thus wont see your payment etc. I’ve had troubles with certain payment processors, but these will likely update their code to also see and accept bech adresses in the near future.

But if you mean if your funds will ever be stuck on the adress; no it is highly unlikely that the network will somehow try to get rid of bech adresses.

could there be problems in the future with this address?

If the addresses were starting with "bc1" then you can not see them in blockchain explorer. As Omega suggested try with other explorers that supports bc1 addresses.

Blockchain.com don't support bech32 addresses (that start with bc1). Use other block explorers: BTC.com, Blockchair or Blockonomics.

I created a wallet Electrum, but the blockchain Explorer doesn't see its address. What to do?