Bitcoin scavenger hunt – how to access your bitcoin gift

Congratulations! Somebody gifted you Bitcoin in the form of 12 words. How the heck are 12 words Bitcoin? And what are you supposed to do with this? That’s exactly what I’ll help you with.

Step 1 – Download a bitcoin wallet

Go to the app store or Google Play store and download Blue Wallet. There are any number of wallets you can use. This tutorial will use Blue Wallet as the example, so that will be the easiest place to start. You can move your bitcoin to a different wallet later.

Step 2 – Import the wallet

• Add a new wallet using the 12 words. Select Bitcoin as the wallet type.
• Name your wallet and then tap “Import wallet” instead of “Create”.
• In that big box, type each of your 12 words on a new line. Blue Wallet will automatically find the wallet and import it into the app for you.

If you’ve done it correctly, you should see your bitcoin balance in the app now. That’s your bitcoin. Well, not exactly. Since you know the 12 words, you now have access to use/move/spend that bitcoin. BUT, whoever wrote those words down for you also has access to that bitcoin. Let’s move it from this wallet to one that only you have access to.

Step 3 – Create your own wallet

In the Blue Wallet app, you can create multiple wallets. Now, let’s create a new wallet that only you have access to, just in case.

• Tap “Add wallet” (or the + sign).
• Name your wallet. Keep Bitcoin as the type.
• And this time, tap “Create” instead of “Import wallet.”

The app will create a brand new wallet with a new set of 12 words. Write these words down with pencil and paper. Do not take a screenshot! Do not type them into your phone or computer. Storing these words digitally makes them vulnerable to being hacked or stolen. Write them down on paper and store that sheet of paper somewhere safe.

Once you’ve written down the 12 words of your new wallet, you’ll see that this new wallet is empty. There’s no bitcoin in it. Let’s fix that!

Step 4 – Move your bitcoin

The next step is to move your bitcoin from the given wallet to the wallet only you can access. There a few steps to this that involve copy and pasting the Bitcoin address.

1. Open your empty wallet where you want your bitcoin to be, and tap “Receive”
2. It may ask you if you’ve actually written down your 12 words. If you haven’t, you’ll want to do this now.
3. When you see a giant QR code, look for the long string of random letters and numbers under it (ex. bc1q…avp9). That’s one of your wallet addresses. Tap it to copy it.
4. The close out of that wallet by tapping the “X,” and navigate to the wallet with the bitcoin in it.
5. From the wallet with bitcoin in it, tap “Send”
6. Paste the address that you copied into the Address field. You can double check the first and last several characters of the address (ex. bc1q…avp9).
7. Edit the amount of bitcoin you want to send. You probably want to send all of it.
8. Now, tap the row that says “Fee” and a highlighted number like “0.00000384 BTC.” This will let you select the fee amount you want to pay to transfer the bitcoin. You can pay a little higher fee to move it quickly (~10 minutes). Or wait about a day to pay the lowest fee. Or somewhere in between. I recommend using the fast or slow option. If you choose fast, you’ll more quickly understand how bitcoin works on the base layer. However, you’ll lose a bit more of your bitcoin to the transaction fee. If you choose the slow version, you’ll keep more of your bitcoin. But you’ll have to wait until tomorrow for it to show up in your new wallet.
9. Tap “Next” and send the the bitcoin to your own wallet!

Step 5 – Protect your bitcoin

You now have self-custody of your own bitcoin in your own wallet. Store those 12 words for your new wallet somewhere safe. Anybody who finds them, can follow the steps here to access and move that bitcoin to their own wallet. Just like you did with the 12 words you started with!

Q: What if I lose my phone that has Blue Wallet on it?
A: Simply download the Blue Wallet app (or another bitcoin wallet app) on another phone. Import your bitcoin wallet by typing in your 12 words. Your bitcoin is stored on the bitcoin blockchain, not on your phone, and not even in the Blue Wallet app. A bitcoin wallet, like Blue Wallet, just gives you access to the bitcoin. It lets you see and transfer that bitcoin from one blockchain address to another. The 12 words are the secret seed phrase combination to the private keys (to those bitcoin addresses).

Q: What if I lost my 12 words?
A: If you still have your phone with Blue Wallet on it, you can see the 12 words. Write them down on another sheet of paper. To view them, go to the wallet and tap the 3 dots in the top right “…” Then tap “Export/Backup.” You’ll see a big QR code and the 12 words under it. Do not screenshot this screen. Do not type your words on your phone or computer. Write the words down on paper and store them in a safe place.

Q: What if I lose my phone and my 12 words?
A: Sorry, but you lost your bitcoin. They’re gone. There’s nothing you can do. It’s like losing your purse or wallet with physical cash in it. It’s gone.

What you do next is up to you. Here are a few things you may want to do:

1. Learn more about bitcoin
2. Buy more bitcoin