(To see more about creating paper wallets, read my previous post called " Creating a Bitcoin paper wallet for cold storage.") The paper wallet was made with, using BIP38 encryption for the private key.
So here’s a step-by-step guide.īelow is a paper wallet containing 0.36477 BTC (at the time of this writing). Getting it out is a little more complicated. If the message or signature are incorrect, it will display a "Wrong signature" message.Īnd that's it! You can now sign and verify messages with Electrum Bitcoin wallet! Although this is not usually required, it may prove useful in the future.Sending money to a paper wallet is the easy part. If the signature is valid the " Signature Verified" message will appear
Step 4: Now enter your message you want to verify in the Message field (1). Enter the wallet address of the person that signed the message (2) and the signature in the Signature field (3). H8x3qMedzK+Qu3u4Ba2WCSsmf2GXWlEpn5Fcww+6ijdNUt4S8eIvmqlw46OnYPIQq0FbiNxmik1X10ByOUx9BfI=Īt some point, you may also need to verify if a signed message is indeed valid. In order to send a signed message simply put the message and the signature below. Your signed message will be signed and displayed in the Signature field
Step 5: Enter your password and click “ ok” Step 4: Now enter your message in the Message field (1) and click “ Sign” (2) Step 2: Choose the address of which you want to prove ownership of and click it with the right mouse button Now if you ever need to sign a message with Electrum you can do the following. In order to send btc, you'll need your password, so make sure you store it safely. Enter a strong password and click “ Next”Įlectrum will now create new addresses for you. Step 7: In order to protect your wallet, you may want to add a password. Step 6: Enter your seed and click “ Next” Step 5: Now that you have a seed, store it safely and click “ Next” Step 4: Choose “Create a new seed” and click “ Next” Step 3: create a new Standard wallet and click “ Next”
Download the version that best fits your O.S Step 2: Install the setup Step 1: Click here to download the Electrum wallet. You can also import your private keys to restore a wallet. It’s a great light wallet and it will allow you to sign your message easily.
If you don’t have a wallet, download Electrum. So let’s go through the process of signing a message with your private keys. This process can be used to confirm your identity as the owner of the wallet. It is possible to use your addresses’ private keys to prove ownership of said address. However, this is a bit wasteful and there is a better process. So, how do we do this? One option is, of course, to make a pre-designated transaction from the address we want to prove ownership from. This is also useful to participate in certain distribution campaigns like the Stellar and Byteball distribution campaigns. This is the case with some exchanges’ KYC and AML policies. Sometimes, however, you may be required to prove ownership of a specific wallet address or of a specific amount of Bitcoin. Everything is verifiable through simple processes and information can not be forged or changed. One of the greatest characteristics in Bitcoin is its transparency.