Hello
I would like to set up a cold wallet with Bitcoin Core. Here's how I would created the wallet:
bitcoin-cli -named createwallet wallet_name="MyWalletName" descriptors=false
So far so good only this warning worries me:
{
"name": "MyWalletName",
"warnings": [
"Wallet created successfully. The legacy wallet type is being deprecated and support for creating and opening legacy wallets will be removed in the future."
]
}
I understand that it's all done through hd wallets now. But I can't find any good documentation on how to store and handle this for a cold wallet. What am I backing up there on paper and how do I get it in a simple way? How do I get the private key to an address? Will signing transactions with bitcoin-cli work the same way as with a legacy wallet?
I find it all confusing compared to how it used to be. How long will legacy wallets be supported? What disadvantages do I have when I use a legacy wallet as cold wallet?
I really only want to use bitcoin-cli (in combination with "bitcoind -noconnect") and the usual Linux tools on my cold wallet machine (Raspberry Pi 2 ). Everything on the terminal. So should I better switch to a hd wallet or can I stay with legacy?
Thank you for your attention.
tiffy
Always make backups, but if everything fails you can always run an older Bitcoin Core version. A main goal of Bitcoin is to make it as backwards compatible as possible.