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Wallet confirmation with other wallets

Updated over a week ago

General information and notes

  • With a signed message, you prove that you are the owner of a specific Bitcoin address.

  • This section explains the process for users who want to sign a hardware wallet using the Electrum wallet that is not listed in our individual instructions.

  • You can use either the mobile app or our web portal.

  • Only use the QR codes and data from your own wallet or from your Coinfinity account—not those from this guide.

  • To make a sale, it is mandatory to add an extended public key (XPUB, YPUB, or ZPUB).

  • None of these steps are necessary for purchases and sales in the Coinfinity in-app wallet.

Step 1 – Login

Log in to Coinfinity on the web portal: https://login.coinfinity.co, or use our mobile app.

Once you are logged in, please go to the "My Wallets" tab. If you have already created an in-app wallet, it will already be listed there.

To add and then confirm the external wallet, proceed to step 2. If your external wallet/address is already listed here, go directly to step 3.

Step 2 – Add wallet

At the top of the screen, you will find the "Add Wallet" button. Click on it and then select one of the options listed. It is possible to add hardware wallets or software wallets. You can theoretically add addresses from other exchanges or custodial wallets, but you will not be able to confirm them later.

These instructions apply to non-integrated wallets. Links to other instructions (BitBox, Trezor, etc.) can be found HERE.

A selection field will open. Select "Other Wallets" to continue. You can use the web portal or the smartphone app for this.

In the next step, give your wallet a name. It is best to choose a name that will allow you to clearly identify which of your devices or programs/apps it is later on.

Also enter either your extended public key (XPUB, YPUB, or ZPUB) or a single Bitcoin address, then click "Continue." We will describe how to do this in the next section.

For the best user experience, add an extended public key. It works for both buying and selling Bitcoin. With each purchase, the Bitcoin is sent to a new address, which can be helpful for privacy reasons. PLEASE NOTE: We do not currently support Taproot addresses, but we are working on offering this as soon as possible.

Alternatively, you can also use a single Bitcoin address. This only works for purchases and savings plans, and the same address is then used for all transactions.

Connect hardware wallet to Electrum

You obviously have a different hardware wallet than those listed in our separate instructions. If this is the case, download the Electrum wallet from the original website here: https://electrum.org/#download

Then connect your hardware wallet to your computer and unlock it if necessary.

After installing Electrum, the window below will open when you start the program for the first time. For easier identification, you can give the wallet you want to link the name of your hardware wallet here. Then click on "Next" (a).

On the following screen, select "Standard Wallet" and click "Continue" (b).

A multiple selection will now appear. Select "Use a hardware device." If you haven't already done so, connect your hardware wallet to your computer and unlock it if necessary. Once you have done this, click "Continue" again (c).

Your hardware wallet connected to the computer should now be listed here in the device list. Select it and then click Continue (d). If no devices are visible, reconnect and unlock the wallet, then click "Rescan devices."

Now it is important to know the address type and derivation path of your wallets. You can find out what these are and how to determine them in the linked articles on Bitcoin addresses and derivation paths.

The address type and derivation path must be correct, otherwise you will later be operating in a differently assigned wallet that may not display your Bitcoin holdings correctly. Once you are sure that you have entered the correct information, click on "Continue."

Before completing the setup (f), you can decide whether you want to encrypt the wallet file. If so, you can set a password. But don't worry, the private key for your hardware wallet is not stored on your computer; it remains stored exclusively in the wallet.

Option A: Add extended public key (recommended)

You have already opened the Electrum application and connected your hardware wallet. Click on "Wallet" at the top of the main menu and then on "Information" (a).

An overlay window will open. There you will find a character string under "Public Key." This is your Extended Public Key (b).

You must now copy the entire extended public key as a character string. Be very careful not to copy too many or too few characters. The easiest way to do this is to click on the "Copy" icon, which will copy the character string to the clipboard (c). It is also possible to display it via QR code if you are scanning the extended public key from another device.

Now you need to re-enter the character string in the Coinfinity portal. If you need to transfer the text from your smartphone to your PC, for example, transfer the text to your computer: by emailing it to yourself, via WhatsApp Web, or using Apple Handoff (for Apple devices).

After you have correctly entered the extended public key, click on "Continue" in the Coinfinity portal.

You can now leave it at that and only store the extended public key by clicking on "Confirm later," or proceed directly with confirming the wallet by going to step 3.

If you choose "Confirm later," go directly to step 4 – Security clearance via email.

You can close the open window in your Electrum application.

Option B) Add individual Bitcoin address

You have already opened the Electrum application and connected your hardware wallet. Click on "View" (a) at the top of the main menu.

Now select "Addresses" (b).

The "Addresses" tab appears below the windows in Electrum. Click on it (c).

You will now see an overview of some of your Bitcoin addresses associated with your wallet. Select the address you want to confirm with Coinfinity and double-click (d).

A pop-up window will open. Under "Address," you will find a string of characters. This is the relevant Bitcoin address. Copy it to the clipboard using the "Copy" icon, or open it in QR code format (e).

Now you must either click on the QR code logo in the Coinfinity portal and scan the code in some way, or paste the character string from your clipboard. If, for example, you need to transfer the text from your smartphone to your PC, transfer the text to your computer: by emailing it to yourself, via WhatsApp Web, or using Apple Handoff (for Apple devices).

Once you have entered the address correctly, click on "Continue" in the Coinfinity portal.

You can now leave it at that and just save the address by clicking on "Confirm later," or proceed directly to confirming the wallet by going to step 3.

If you decide to "Confirm later," go directly to step 4 – Security approval via email.

In your Electrum application, you can now close the field with the Bitcoin address.

Step 3 – Confirm wallet or address

You will reach this step either after adding an address or an extended public key to the Coinfinity portal in step 2 and now want to confirm it, or if you want to confirm a wallet that has already been added.

You will be shown a random 10-digit string. This is the "message" that you must now sign using the first address of your wallet. Copy this message or simply write it down for later use; it is important that you do not make any mistakes here. It consists exclusively of lowercase letters and numbers, with no spaces.

To confirm your wallet and assign it to you, sign this message with your Bitcoin address or the first Bitcoin address of your extended public key.

Unfortunately, it is not possible to sign a message in the Ledger Live app. Therefore, you will need to download additional software that enables this.

Sign message

1. Switch to the Addresses tab (a).

Important: If you selected the extended public key in "Step 2 – Add wallet," right-click on the first address. Select "Sign/verify message" (b).

However, if you selected a single Bitcoin address (Option B), right-click on the selected address. Select "Sign/Verify Message" (b).

2. A window will open (c).

In the "Message" field, you must now enter the 10-digit message from the Coinfinity portal. Copy it or simply write it down. Paste the text into the message text area in the Electrum dialog and click Sign (d). Ensure that the Ledger is not in standby mode. Confirm the signing on your Ledger. A long string of characters will now be displayed in the "Signature" field (e). This is the signature that you must enter in the Coinfinity portal to confirm your wallet/address.

3. Copy the signature that now appears in the "Signature" window (f) and paste it into Coinfinity. To do this, copy the entire string and make sure you paste it correctly into the portal. Please do not write down this character string, as this is too prone to errors. Transfer the text to your computer: by email to yourself, via WhatsApp Web, or with Apple Handoff (for Apple devices).

After adding the signature in the Coinfinity portal, click on "Confirm." If everything went well, your wallet or address will now be created under "My Wallets" with the label "Confirmed" and can be used.

If you see an error message ("Please enter a valid signature"), there was an error in one of the intermediate steps. What can happen?

  • It is possible that you copied or transcribed the 10-digit message incorrectly.

  • It is possible that an error occurred while copying the signature.

  • It is possible that you signed the message with the wrong Bitcoin address.

In any case, try again and make sure that you can definitely rule out all errors.

Step 4 – Security clearance via email

After you have added your wallet—regardless of whether you sign it immediately or add the signature later—we will automatically send you an email with a six-digit confirmation code.

ATTENTION: This verification is required for every external wallet you register with Coinfinity. You cannot use the wallet without entering this code.

The code is valid for 10 minutes. Before entering the code, you must confirm that the wallet is a self-hosted wallet. To do this, check the box in the interface.

Then enter the six-digit code from your email into the input field.

Click on "Add Wallet" to complete the process.

After successfully signing and confirming your wallet, you will see all signed wallets or addresses listed in the "My Wallets" menu. You can now choose from the confirmed wallets/addresses for each purchase.

IMPORTANT: If you interrupt the code entry process, the wallet will still be displayed in your overview, but will remain listed as "Waiting for code."

If you decide to use the wallet a little later, you will have to request a new code, as the original one will have expired after 10 minutes.

If you receive an error message during the process, check the code or request a new one if necessary.

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