[Tutorial]How to claim your Bitcoin Cash/Gold and future Bitcoin fork coins in your own Blockchain wallet

in #tutorial7 years ago (edited)

Hi all, I'm new to Steem and this is my first post and I would like to share with you the way to claim the bitcoin fork coins currently and in the future.

Tutorial

Backup your Blockchain wallet

Backup your 12 words backup phrase, also know as BIP39 mnemonic phrase. You can backup your backup phrase simply login to your Blockchain wallet → backup funds. (Optional: you may backup your private key instead of the backup phrase)

Get Coinomi wallet

Download Coinomi wallet from Google Play store (Android) or Apple App store (iOS), this wallet is recommended as it supports most of the trustworthy bitcoin forks (except those recently emerging bitcoin fork coins raised by the Chinese) and many other altcoins such as Ethereum.

Restore your Blockchain wallet within Coinomi

  1. Hit the "Restore a wallet" button and enter your 12 words backup phrase or simply scan the QR code of your backup phrase (if you have) using any QR code scanner app and paste the backup phrase into Coinomi.

  2. Then provide a password for the Coinomi wallet.

  3. From the left menu, hit the "+ Coins" button at the bottom and choose "Bitcoin", leave the description box blank (or change it if you wants to) and enter your Coinomi wallet password, in the "Derivation Path", enter M/44H/0H/0H and hit "Add".

  4. Now your Bitcoin balance will appear and it is the same as you see in your Blockchain wallet. (Make sure you can view the correct Bitcoin balance before proceed to next steps!)

Claim your Bitcoin Gold in Coinomi

  1. To do so, first from the left menu, hit the "+ Coins" button at the bottom and choose "Bitcoin Gold ", leave the description box blank and enter your Coinomi wallet password, in the "Derivation Path", enter M/44H/0H/0H and hit "Add". Walah! Your Bitcoin Gold (BTG) balance will appear. And now you are free to transfer the BTG to anywhere you want.

P.S. You may also find the BTG collecting tutorial on Coinomi official support page (https://coinomi.freshdesk.com/support/solutions/articles/29000016813-collecting-your-free-bitcoin-gold-btg-coins-with-coinomi)

[Bonus] Recover your Blockchain Ethereum wallet into Coinomi too

Since Blockchain wallet recently supports Ethereum (ETH) and I discovered a way to import both your Bitcoin wallet (mentioned above) and Ethereum wallet in Coinomi.

  1. From the left menu, hit the "+ Coins" button at the bottom and choose "Ethereum", leave the description box blank (or change it if you wants to) and enter your Coinomi wallet password, in the "Derivation Path", enter M/44H/60H/0H/0 and hit "Add".

  2. Now you can see your Ethereum balance which is the same as you see in your Blockchain Ethereum wallet, isn't it cool?

How does it work?

You may wonder why by changing the content of the Derivation Path and you can claim almost any crytocurrencies/fork coins with the same 12 words backup phrase. This is because of the Bitcoin Improvement Proposal (BIP32), and you may google it for more deeply understanding. Since it is a very techical topic and I'm still not fully understand it, therefore I will not go for this topic.

Anyway, in the forseeable future, whenever Blockchain wallet supports more crytocurrencies, you can simply import the newly supported crytocurrencies wallet by using the "+ Coins"" function as long as Coinomi wallet have the support, the only thing you need to change is the Derivation Path, you may refer to the github page of Registered coin types for BIP32 (https://github.com/satoshilabs/slips/blob/master/slip-0044.md)

  1. For example, if in the future, Blockchain wallet supports Ethereum Classic (ETC), then the Derivation Path in Coinomi wallet will be M/44H/61H/0H/0 when you tries to import the Blockchain Ethereum Classic wallet.

  2. From the BIP32 spec, it shows 5 levels of the Derivation Path: m / purpose' / coin_type' / account' / change / address_index.

So when you try to import other coins into your Coinomi wallet in the future, while entering the Derivation Path, remember to change the ' sign to H and try different combinations begins with M/44H/coin_type H/account H...

Please upvote this post if this tutorial can helps you claim your BTG or importing your Blockchain ETH wallet into Coinomi. If you have any questions or comments, please reply. Thanks!

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