Unchained’s Post

Transcript

One of the most common questions we get at Unchained is what happens to my Bitcoin if Unchained were to be inaccessible for any reason. And Unchained we've engineered ourselves out of the custody equation, meaning that you can use your two keys to recover and spend from your vault using any tool that supports the same standards. In today's video, I'm going to show you how to recover using three different open source tools. First, I'll use Caravan, which is a tool created by Unchained. Then I'll use Sparrow, which is a really popular newer wallet engineered by open source developers completely externally to Unchained. And finally, I'm going to recover using Electrum, which is one of the oldest Bitcoin wallets available for use today. I'm recovering in this particular order to show. The easiest one first, which is Caravan, then a slightly more technical recovery Sparrow, and then the most technical, Electrum. Last year we released a really interesting feature for Unchained Volts, the ability to use your vaults anywhere. You can use your vault in open source tools, and you can use it with hardware wallets that aren't yet supported by unchained.com. So for the Sparrow and Electron recovery, today I'm going to show you how to spend from your vault using the block Stream Jade, which is a really popular hardware wallet that isn't yet supported by unchained.com. All right, let's get started. 1st, I'm going to log into Unchained. Today I'll be spending my inheritance ball using open source tools, so I'll open the inheritance fall. With all vaults, in order to recover and spend from your vault without using unchained.com, you need to download and save the wallet configuration file, which is basically the treasure map to your vault. You can save your wallet configuration file in a password manager or encrypted cloud storage. Now that I have my wallet configuration file saved, I'm going to recover my vault using Caravan again. Caravan is an open source tool built by Unchained Engineers. It's designed to be the easiest and most user friendly way to recover and spend from your belt. This is Caravan. It lives at caravanmultisig.com. In order to recover, first I'll select wallet and I'm going to select import wallet configuration file. Here I can see my wallet configuration file which I just downloaded. Again, your wallet configuration file is like the treasure map to your Unchained vault. I can see the information has loaded here. And then I can select A Bitcoin client. This is a Bitcoin full node. I can connect it to my own full node by selecting private or use one of these public nodes available. I'll select men. As you can see, my inheritance bolt has very quickly popped up. In order to spend from my vault, I'll simply hit send and paste my destination address. Then I'll select the amount. Finally, I'll hit Preview transaction where I can see all the details of my transaction. In order to sign my transaction, I select Sign and then I select the keys. Making you Rothbard lives on my treasure. So I'll select Rothbard and then treasure. After I've unlocked my treasure. I will select sign. Signing takes me to Treasure Connect. Where I can allow it to sign the transaction. Here's where I would be able to enter a pass phrase if I was using one, but I'm not using a pass phrase, so I'll select standard wallet. Now I can see details in my transaction on my device where I can review and hold to confirm. As you can see my first signature was gathered. I need to sign from my second key. All Unchained vaults are two out of three multi signature addresses, which means that it requires 2 out of 3 keys in order to spend the Bitcoin. My second key lives on a Ledger. I'll select Ledger. Then I will unlock my device and open the Bitcoin app. When I'm ready, I'll select sign. Details of the transaction are loaded onto my Ledger. I can review and confirm. As you can see, my second signature has been gathered and I can view my entire sign transaction. In order to broadcast, I'd simply hit broadcast transaction. All right, that's recovering from Caravan. Pretty easy, right? Next, we're going to move on to recovering from Sparrow, a very modern open source wallet that's also relatively easy to use and gives you the option to use different hardware wallets that might not yet be supported by Unchained. In order to recover from Sparrow, I'll want to download and install the Sparrow wallet, which can be found at sparrowwallet.com. Once Sparrow wallet has been installed on my computer, I simply open it up. Just like with Caravan. I need to move my wallet configuration file into Sparrow. I can find that in my downloads folder. I simply drag and drop it. Then Sparrow gives me the option to create the bolt. I don't need to give it a password for now. Sparrow has very quickly loaded up my Unchained vault where I can see the transaction in order to spend from Sparrow. It works very similarly to Caravan. I select spend on the left side. Here I paste my destination address. I give it a label, I select the amount and then I select create transaction. Sparrow will show me details about the transaction. If it looks good, I can select finalized transaction for signing. As I mentioned, Sparrow offers additional support for different hardware wallets, so I'll show you signing from my Unchained vault using Sparrow and a block stream Jade. What I've done is I've taken one of the seed phrases from Machu keys and I've loaded it onto my block stream Jade. I'll select sign scan and on my Jade I will enter my pin. I can see my jade pop up here where I select sign. I'll review the details of the transaction on my block stream jade if it looks good. I'll select OK and my signature has been gathered, but I need to sign from two out of three keys. So I'll sign again and this time I'll use my treasure. I can see the same details of the transaction on my treasure and if it looks good I will confirm. Now I have a completely signed transaction and when I'm ready, I can select broadcast. Finally, I'm going to show you how to recover from Electrum. Electrum is one of the oldest open source Bitcoin wallets that is available. It's also the hardest to use. So this is my least recommended option, but it's good for me to show you just in case you do want to use the advanced features of Electrum with your Unchained all. In order to install Electrum, you navigate to electrum.org. Make sure you're at the right URL. Electrum very often has impersonators that try to get you to download and install an impersonation app. Always make sure you're at electrum. org when you install Electrum. Once you've installed it, you simply open it up like any other application on your computer. Electron prompts me to create or restore a wallet. I'm going to name my wallet inheritance. Then I'll select Next I'll select multi signature wallet. And here's where I select the Quorum. Unchained Vaults are all two of three multi signature wallets, so I need to make sure that there are three cosigners and two signatures are needed to spend. The primary difference between Electrum and something like Caravan or Sparrow is that with Electrum you can't just load your wallet configuration file into it. You have to reconstruct your vault using the information from the wallet configuration file. I'll select next. Then I'll select Use a hardware device. I'll select Rothbard on my treasure T. We're creating a legacy multi sig wallet so I'll select legacy multisig. Then I need to gather information from my wallet configuration file so I'll open that now. All right, in order to import the first key from my treasure, I need to grab the file location of the key which is called the BIP 32 path that can be found in my wallet configuration file here. I'll copy that and paste it over here into Electrum. Since I'm not using a passphrase, I'll leave this link. And Treasure has produced my extended public key. And extended public key can be thought of as a master lock. All of our Unchained vaults are built from three locks, and two keys are needed to unlock them. So I have the first lock. Now I need to gather the additional locks. I'll select cosine with hardware device. And I'll select the blockstream J. I need to make sure that I'm grabbing the right lock from the right file location, so I'll find DeSoto in my wallet configuration file and copy and paste the pathway here. Electrum has found the correct extended public key and finally we need to teach it about Unchained key. Since we don't have the actual private key, we just have the public information. We can say enter cosigner key and we'll copy and paste the extended public key from the wall configuration file. After hitting next, you'll be given the option to enter a password. I'm going to skip that for now. And as you can see, Electrum has now generated our fault. I'll close the wallet configuration file and I'll demonstrate how to spend from the bolt. In order to spend from electron, just like with Sparrow and Caravan, you select Send, then you paste an address. I'm going to spend the maximum amount. It also select pay. Electron prompts me to enter a transaction fee. I'll just do the default. Now details about the transaction are going to appear on my treasure. I could review on the device and confirm the transaction. Next details of the transaction are going to appear on my block stream Jade. If the details are the same, I can go ahead and review and select confirm. Electron has now broadcasted my transaction and I'll wait until the miners package that transaction into a block and confirm it before it appears as a confirmed transaction. I'm now showed you how you can use your Unchained vault anywhere. I've used it with caravan and open source tool built by Unchained engineers. I've used it with Sparrow and Electrum, 2 open source tools built by entirely different engineers and with a device the blockstream jade that unchained.com doesn't even support yet. We want to really make it clear that someone who's non-technical. Can always get access to their Bitcoin using simple and easy tools available to them. I hope you've enjoyed this video. If you have, please give it a like, add a comment and subscribe to the Unchanged channel for more awesome technical videos like this. I'll see you next time.