Electron Cash client — Set up a hardware wallet in 10 easy steps

Satochip — Hardware wallet on a smart card.
Satochip — Hardware wallet on a smart card.

Table of content

  1. Step 1 — Download and install the EC client
  2. Step 2 — Launch the EC wizard
  3. Step 3 — Give a name to your wallet
  4. Step 4 — Create a new wallet
  5. Step 5 — The keystore
  6. Step 6 — The PIN code
  7. Step 7 — Generate your very own seed
  8. Step 8 — Backup your very own seed
  9. Step 9 — Derivation path
  10. Step 10 — Backup your Bitcoin Cash wallet

Introduction

Step 1 — Download and install the EC client

Satochip — Electron Cash client download section.
Electron Cash client download section.
Satochip — How to make an AppImage file executable.
How to make an AppImage file executable.

Step 2 — Launch the EC wizard

  • The client will automatically choose the best server for your needs.
  • If a server is down, it will switch automatically to another .
  • You need to trust ElectrumX server node operator.
  • It learns about your total Bitcoin Cash holdings and past transactions, and can gather all your past Bitcoin Cash addresses.
Satochip — Electron Cash — Auto connect.
Electron Cash — Auto connect.

Step 3 — Give a name to your wallet

Satochip — Give a name to your wallet file.
Give a name to your wallet file.

Step 4 — Create a new wallet

  • Standard wallet : a deterministic wallet with a single private key behind each address and no extra security option.
  • Multi-signature wallet : a common use-case for this is if you want to collaboratively control funds; maybe you and your friend run a company together and certain funds should only be spendable if you both agree. Another one is security; one of the wallets can be on your main machine, while the other one is on a offline machine. That way you make it very hard for an attacker or malware to steal your coins.
  • Import Bitcoin Cash addresses or private keys : this option will allow you to retrieve a Bitcoin Cash wallet from private keys or create a “watch-only” wallet if you specify one or more Bitcoin Cash addresses.
Satochip — Create a new standard wallet.
Create a new standard wallet.

Step 5 — The keystore

  • Create a new seed : this will generate a new mnemotechnic passphrase for you. Note : new seed generated by the Electron Cash client does NOT support BIP39 (you can import an existing BIP39 seed but you cannot generate a new one).
  • I already have a seed : choose this option if you already have a mnemotechnic passphrase and want to use it.
  • Use public or private key : choose this option to create a “watch-only” wallet or configure a multi-signatures wallet.
  • Use a hardware device : choose this option if you want to store your private keys in a secure, offline, trusted device called a hardware wallet.
Satochip — A Satochip hardware wallet.
A Satochip hardware wallet.
Satochip — Use a hardware device to store the keystore (and the private keys).
Use a hardware device to store the keystore (and the private keys).
Satochip — Select your hardware device : Satochip.
Select your hardware device : Satochip.

Step 6 — The PIN code

Satochip PIN code is an extra security feature.
Satochip PIN code is an extra security feature.
Satochip — And repeat it twice.
And repeat it twice.

Step 7 — Generate your very own seed

Satochip — Create a new seed.
Create a new seed.
The Satochip.dat wallet personal seed.

Step 8 — Backup your very own seed

Seed confirmation screen for the Satochip.dat wallet.

Step 9— Derivation path

Electron Cash derivation path for standard hardware wallet.
Electron Cash derivation path for standard hardware wallet.

Step 10 — Backup your Bitcoin Cash wallet

  • Your seed as shown in the step 7. You can write it on a sheet of paper and store it on a secure physical vault.
  • The derivation path as shown in step 9. At least if you change it and do not use the one suggested.
Satochip Bitcoin Cash hardware wallet on a smart card.
Satochip Bitcoin Cash hardware wallet on a smart card.

More information about Satochip

https://satochip.io
Satochip — Secure the future.

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Open source and affordable hardware wallet on smart card. More information on https://satochip.io — Follow us on Twitter : @SatochipWallet

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Satochip

Satochip

Open source and affordable hardware wallet on smart card. More information on https://satochip.io — Follow us on Twitter : @SatochipWallet

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