transfer a bitcoin wallet?

Moderator: kyletorpey

transfer a bitcoin wallet?

by chetan » Thu Apr 17, 2014 1:38 pm

Is it possible to transfer a bitcoin wallet?
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Joined: Thu Apr 17, 2014 5:24 am

Re: transfer a bitcoin wallet?

by kyletorpey » Fri May 23, 2014 11:34 pm

In theory, it is possible to transfer a Bitcoin wallet; however, it doesn't really work in practice. A Bitcoin wallet is really just a collection of private keys related to a certain number of public addresses on the Bitcoin network. This means whoever owns the wallet with those keys also owns the bitcoins in that wallet. Technically, you could hand a Bitcoin wallet file to someone else on a USB stick, but the problem with that transfer is that you don't know if there is another backup for the wallet file. If the person who originally held the Bitcoin wallet has a backup of the private keys, then there's really no way to know if they'll go back and transfer the bitcoins out of that wallet and leave the buyer with nothing.
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