Mastering Bitcoin wallets: Combining Electrum SV, RockWallet and HandCash for optimal use

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Are you ready to explore the world of Bitcoin wallets and learn how to maximize their potential? Dive into our comprehensive guide that meticulously examines Electrum SV, RockWallet, and HandCash, three prominent wallets in the Bitcoin SV (BSV) ecosystem. We’ll walk you through their unique features, capabilities, and limitations, empowering you to make informed decisions and leverage each wallet to suit your needs. Discover how using these wallets in tandem can elevate your Bitcoin experience and boost your Bitcoin journey.

In a previous article, I shared a simple way to create a Bitcoin address¹, allowing you to receive BSVs (not BTC) in no time. As long as you keep your private key safe, your Bitcoins are secure in the blockchain.

This method is perfect for those who want to quickly start earning BSVs without diving deep into the technical side of Bitcoin. If your goal is to monetize your website, sell digital products (like ebooks, music, or software), or offer your services and expertise worldwide, it’s essential to focus on your business rather than the intricacies of Bitcoin. However, after some time and effort spent making sales, you’ll eventually accumulate a significant amount of Bitcoins (BSVs) in your address. So, how do you use, spend, or transfer your Bitcoins?

At this point, it’s time to expand your Bitcoin knowledge by exploring ‘warm’ or ‘hot’ wallets. These wallets are connected to the internet, making it easy to send Bitcoins. In contrast, a Bitcoin address alone is like a ‘cold’ wallet—not connected to the internet. I’ve tested three top BSV wallets—Electrum SV, RockWallet, and HandCash—and documented my findings in a video². In this article, I’ll summarize what I discovered and suggest when and how to use each wallet.

Electrum SV (Desktop version on Windows)

Electrum SV is a popular wallet within the BSV community, providing users with a safe and flexible platform to manage their digital assets.

One standout feature is the ability to transform cold wallets into warm ones. By using your Bitcoin address’s private key, Electrum SV activates your cold wallet and imports its transaction history. It can also import wallets from other sources that use seed words. Once you’ve imported or activated your cold wallet, you’re ready to send Bitcoins to anyone worldwide.

Additionally, Electrum SV supports multi-signature wallets, an essential tool for businesses and individuals aiming to enhance their security. Multi-signature wallets protect your Bitcoins by only allowing transactions when a specific number of authorized signatories approve it. This feature has practical applications, like authorizing Bitcoin transfers only after a certain process is complete. For instance, a set amount of Bitcoins is sent after the seller, delivery company, and customer have all signed off on various transaction stages.

While Electrum SV meets most needs, it lacks the ability to buy BSVs directly. That’s why I’d like to introduce RockWallet, which allows you to purchase BSVs with a credit card.

RockWallet (Android version)

RockWallet allows you to purchase BSVs using a credit card, making it a convenient option. It also offers a ‘sweep’ feature, enabling you to transfer the entire balance of your Bitcoin address (cold storage/paper wallet) to RockWallet’s Bitcoin address using the private key of your cold storage wallet. You can easily send, spend, or transfer your Bitcoins from there.

RockWallet employs seed words to generate various Bitcoin addresses (public and private key pairs) for transactions, enhancing security and privacy. A notable feature is its ability to export transaction history to CSV files, which include essential details like source and destination Bitcoin addresses, amounts sent or received, transaction dates, and transaction IDs searchable via a Bitcoin Explorer. It also displays the prevailing exchange rate during each transaction, converting amounts to fiat currency values. This functionality is crucial for businesses, as they can export transaction histories to CSVs and import them into spreadsheets like Excel or Google Sheets for accounting or bookkeeping purposes.

While RockWallet is excellent for personal and business use, let’s also explore HandCash, another fantastic wallet option.

HandCash (Android version)

HandCash is an impressive wallet that integrates seamlessly with various BSV apps and websites, providing users with a convenient and versatile platform for managing, spending, and earning Bitcoins as they use these apps and websites. For example, you can earn by selling your music or podcasts every time someone listens to your works (by using apps like Rare Generation, StreamableFM, and Real World Podcasts).

You can earn when you promote webpages (by using TonicPow). There is a list of games you can play too. They are all integrated into your HandCash wallet, so you can pay or earn automatically while playing. HandCash and the different apps and websites that utilize its power show off what is possible with BSV.

Further, HandCash provides APIs and SDKs so developers and programmers can easily integrate and monetize their apps, websites, and software with Bitcoin. So if you can code, consider looking into HandCash to plug into the power of BSV.

I should mention that based on my tests on February 26, I could not buy BSV with HandCash with a credit card due to a temporary issue with their credit card partner. I am confident and hopeful that they will resolve this soon. In the meantime, you can easily transfer BSVs to your HandCash wallet from any wallet, including RockWallet and Electrum SV.

No need to choose—use multiple wallets

It’s essential to understand that you don’t have to pick just one wallet among Electrum SV, RockWallet, and HandCash. Knowing their capabilities, limitations, and features allows you to choose the right wallet for each transaction and situation. Feel free to use any or all of these wallets, as transferring funds between them is a breeze and can be done quickly.

In conclusion, the world of BSV wallets offers various options to cater to your unique personal or business-related needs. Electrum SV, RockWallet, and HandCash each bring strengths and features, ensuring you have the right tools for every transaction.

You don’t have to limit yourself to just one wallet; explore and utilize them all based on your requirements. Embrace the power and convenience of these digital wallets to enhance your Bitcoin experience. Give them a try and unlock the true potential of BSV to monetize your passions and improve your business and your everyday life.

About the author

Marquez Comelab, the founder of BSVSearch.com, is a firm believer in the potential of BSV to offer professionals, creatives, and small businesses a straightforward and cost-effective means of monetizing their products and services. Driven by his passion for sharing knowledge, Marquez aims to empower others to harness this cutting-edge technology. To complement this article, he has crafted a video demonstration showcasing the use of Electrum SV, RockWallet, and HandCash: https://youtu.be/Vlyux5zbEpk.

Notes:
[1] Please note that when we say Bitcoin, we mean Bitcoin SV, with the ticker symbol BSV. It should not be confused with BTC, an implementation that abandoned core principles described by its inventor (Satoshi Nakamoto) in the Bitcoin Whitepaper.
[2] “Top Hot and Warm Wallets for BSV – Electrum SV, RockWallet and HandCash” by Marquez Comelab, BSVSearch.com, YouTube: https://youtu.be/Vlyux5zbEpk

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