How Do You Migrate From One Cryptocurrency Wallet to Another? Down the Rabbit Hole

Changing cryptocurrency wallets isn't hard but you need to learn the basics. Bitcoin owners can run into problems when trying to move funds from one bitcoin or cryptocurrency wallet to another. Some wallets use non standard configurations, which can cause people to think their money is gone when they try to switch wallets. In this video, Andreas discusses why and how that happens and talks about a new tool that can help.

0:00 Down the Rabbit Hole Animation (no sound)
00:32 The BIP39 Standard
1:16 Hierarchical Deterministic (HD)wallets
2:05 BIP43 & BIP44
2:48 The Bitcoin derivation path: m/44'/0'/0'
3:41 What if your wallet used an unusual derivation path?
3:55 What not to do if you lose your derivation path?
4:57 The Electrum wallet derivation path wizard
6:15 walletsrecovery.org

In this edition of Down the Rabbit Hole Andreas answers his own question... How can a new Bitcoin user migrate from one wallet to another? Don't panic if you've switched to a reputable wallet and you don't see your money. Watch this video to learn what to do and how to locate your funds.

BIP 39: https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
BIP 32: https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki
BIP 43: https://github.com/bitcoin/bips/blob/master/bip-0043.mediawiki
BIP 44: https://github.com/bitcoin/bips/blob/master/bip-0044.mediawiki

The Bitcoin derivation path: m/44'/0'/0'

Wallet Recovery site: https://walletsrecovery.org/
Run by J9Roem - Janine Romer and NVK - Rodolfo Novak

The Electrum pull request: https://github.com/spesmilo/electrum/pull/6219
By Luke Childs - https://github.com/lukechilds

This question is from the Patreon Q&A livestream, which took place on Jun 27, 2020. If you want early-access to talks and a chance to ask questions in the monthly live Q&As with Andreas, become a Community Builder on Patreon: https://www.patreon.com/aantonop

Related Videos: 
Bitcoin Q&A: How do mnemonic seeds work? - https://youtu.be/wWCIQFNf_8g
Bonus Livestream Session - Security - https://youtu.be/P7IuPA26GGc

Learn more about becoming a Community Builder: https://patreon.com/aantonop 

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