Simple Bitcoin Wallet

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Mnemonic code

All Bitcoin addresses and private keys in Simple Bitcoin Wallet come from a single mnemonic code which is essentially a secret phrase comprising of 12 random words. Please remember: whoever knows your mnemonic code also fully controls your bitcoins so it should be kept private at all times.

Also, only mnemonic code can get your bitcoins back in case if you lose your device or forget your wallet password or simply uninstall an app by accident, it's that important! Ideally one of the following actions should be taken once a new wallet is created:

Unconfirmed transactions

Here's a simple heuristic: treat any unconfirmed incoming transaction as if it does not exist yet. There are a lot of technical reasons for this and the rule applies to all wallets, not just to Simple Bitcoin Wallet. Just wait for at least one confirmation and you'll be fine.

Transaction fees

Every transaction you send must have some fee attached to it. Fee goes not to wallet developer but to Bitcoin miners who include transactions in blocks and thus give them confirmations. The higher fee you choose the faster transaction will be confirmed.

Wallet addresses

Due to privacy considerations wallet has not one but many addresses. In fact, wallet's default address gets changed on every new incoming transaction. Never worry about it as all the old wallet addresses stay valid forever and you can use any of them to receive funds.

Restoring balance when you...
- lose your device or password
- accidently delete a wallet app

It's important to understand that Simple Bitcoin Wallet is not a centralized service so you can't regain access to your funds by just providing an email or something like that. Here you'll need to restore a wallet using your mnemonic code and this is how to do it step by step:

  1. Erase all current wallet data if you know how to do that (such an option is typically available in System Settings), otherwise just reinstall an application from scratch.

  2. Open fresh application and you'll be given an option to restore your wallet instead of creating a new one, choose it and enter your mnemonic code as well as new wallet password.

Important note: restored wallet will appear empty at first and that is completely normal as it needs some time to catch up with network.

Adding a trusted Bitcoin node

In case if you happen to run a full Bitcoin node which accepts incoming connections you can explicitly instruct Simple Bitcoin Wallet to use it by providing your full node's IP address and port. Doing so will increase wallet's security and reliability.