Synchronizing your Yours.org wallet to a Bitcoin.com wallet
tl;dr: If you just want to set up your Bitcoin.com application to sync with your Yours.org account wallet and don't care about the origins of this or any of the learnings I've picked up along the way...just read the "Here are the steps:" section.
I ran across this tweet the other day
...and thought "Huh, that's neat. I'd like to check that out".
You see, I've only been "in" the crypto space for a few months. I checked it out a few years ago, but (regretfully) never took the step of purchasing any Bitcoin at the time ($300 was way to much for something that was going to just disappear).
Since getting into this, I have paid in crypto whenever it's been a payment option, but it's always been when I was at my computer. Therefore, up until this point, I hadn't had a reason to install a wallet on my phone, as I have a Trezor and bounce between that, Shapeshift, and exchanges to move value around to various currencies. I had been interested in getting a wallet onto my phone to mess around with it "live" with some friends over a beer; this gave me the push to take the next step.
I ran into a couple little snags in the process and saw that one commenter in the thread was looking for a "how-to" on setting it up...this is intended to be that. I'll try to make it quick and then give you my impressions thus far...
I'll assume you either have installed the Bitcoin.com wallet application on your phone or know how to.
This is what we're doing, in a nutshell
We are telling your Bitcoin.com wallet application about another wallet you have...then it will be able to find transactions on the Bitcoin Cash blockchain just like Yours.org is behind the scenes.
Now, by saying "telling...about another wallet you have" above I mean that we are actually generating the public & private keys from Yours on your phone. When you do that, your phone is now able to generate the address you receive funds on in your Yours.org account. The way you do that is by creating a new Bitcoin Cash wallet in your Bitcoin.com application and giving it the words that you obviously backed up from the "Cash" page.
Aside: Since it's just the two of us and I assume you wouldn't be here if you were an "old hand" at the way all this works...I'll share something that's kind of neat: You can regenerate the public and private keys of practically any wallet using the mnemonic that is (always?) shown/available in wallets. A lot of people that are good at math came up with a way to do this (see: BIP39)...and it was generally accepted as The Best Way(tm) for wallets to work (for now, at least).
Therefore, if you use a Trezor hardware wallet and want to move to a Ledger (a different brand)...you just need those words and you should be good. If you don't have those words and you lose or damage the device(s)...you've lost access to whatever coins were in that wallet. So, these are important, generally-speaking. Of course they are important on Yours as well or if Yours were to "disappear"...so...write them down. Also: keep them safe...because anyone with this mnemonic can get at your coins.
Now that you're a Level-10 Wizard with crypto-currency wallets...this will be simple: We just need to get the 12-word mnemonic from Yours and set it up as a wallet on your phone.
I was going to take screenshots, but, we're all adults here, and let's be honest...if you've read even half of the words above this...the few it will take to get through this process will be a piece of cake...
Here are the steps:
- Go to the "Cash" page in Yours and click the (green) "Export wallet" button. This will show you a list of words. Keep that page open.
- Open the Bitcoin.com application on your phone and click the "+" icon to the right of "Bitcoin Cash Wallets" Note: I'm assuming you have created at least one "Personal Wallet" already as part of the setup procedure.
- Click "New personal wallet" (trust me...it's this one...not "Import wallet").
- On the next screen, name it whatever you want (I used "Yours.org"). The coin type obviously should be "BCH" (for Bitcoin Cash). THEN STOP! This next part is important. It's so important that we're moving onto a new number even though it's on the same screen. (Matrix-Keanu says, "Woah")
- Click "Show advanced options" and under "Wallet Key" you will see "Random"...change that to "Specify Recovery Phrase..." and enter the 12-word mnemonic from Step 1. NEW NUMBER!
- Activate the "Single Address Wallet" toggle button. Someone can step in and tell me this is wrong, but I'm pretty sure it's correct because (1) it worked for me and (2) on the "How to import your Yours wallet into Electron Cash" page it says: "Note that Yours currently uses only the first address on the BIP39 wallet. If you send transactions in your Electron Cash wallet, they will not show up in Yours." So, when you click "Generate new address" it will always only give you the first address of the public/private key for your Yours wallet (the fact that this works goes back to the "people good at math"-thing I mentioned earlier)...which will match up with what is shown on your "Cash in" page/modal.
- Click "Create new wallet"
- Verify the address matches the address shown on your "Cash in" page/modal by clicking "Receive" and making sure you have the "Yours.org" wallet selected on the bottom of the screen. Pro-tip: Do this right away. I waited for a while (15+ minutes) thinking things were "syncing" and nothing was showing up. I felt ashamed and lost. After going to this screen, everything showed up almost immediately. Then I felt like a winner. I'm assuming this happened because the wallet has not generated that first address until you go to the "Receive" screen so it doesn't know what transactions to look for on the blockchain. When you view the screen, it generates the address...and everything Just Works(tm). If you click "Generate new address", the address should not change (because of Step 6).
You're done. Easy-peasy...
A backstory and some thoughts
Since we're both still here and best friends now, I'll give you a bit of backstory...after all, I want you to get what you paid for...
A bit about how I "got here"...
I was initially intrigued about Bitcoin by the idea of picking up a bit of money in the Bitcoin Cash fork in August and then likely walking away the crypto scene with a smile on my face and enough cash in my pocket to go out to a nice meal or maybe buy something with the "earnings." For those of you who have been in "the scene" for years, I was probably the person you disdain. I wasn't in it to change the world or overturn governments around the world. However, after making my first purchase of coins, I started voraciously reading everything I could get my hands on and talking to veteran friends to try to understand how it all worked. The more I dug, the more fascinated I became with it beyond just an investment.
Candidly speaking the increase in value helped a lot initially...if Bitcoin it had dropped to $100 from almost $3,000 before the fork, I would have probably crawled off, licking my wounds and hesitant to dip my feet in the water ever again. However, the value maintained and I became interested in how it worked. The deeper I dug, the more intrigued I became. As a web developer, I was curious how I could start easily and securely accept payments myself, how to properly manage keys on a server without opening risk of theft, et cetera...and that drove me to learn more and more.
As I said in the intro, I transact with it whenever it's an option in day-to-day life now. I can honestly say it's been rare (probably 2-3 times outside of Yours.org transactions...which as been dozens thus far). However, every time I do it feels great; it all just makes sense and feels "right." It's hard to explain if you haven't done it outside of purchasing the coins and maybe dabbling in trading on an exchange or three.
A couple scenarios that have popped up since setting up a wallet on my phone two days ago:
- I wanted a friend to try Yours.org out so I sent him a link and said give it a shot. He didn't have any Bitcoin Cash yet (only Bitcoin [Core|Segwit|Legacy|...]). He sent me a picture of the credit card view on the "Cash in" modal and I sent back, "Here, hang on. Send me the BCH address and stay on that screen." He texted it back...I went into my Bitcoin.com app, clicked "send" and selected my "personal" BCH wallet on my phone...pasted his address and sent him ~$5. He sent me a link to his published article before I was back in the messaging application (it really was that fast). This felt really cool. He got access to something that costed money instantly by me paying for it as he was looking at the screen...literally within seconds. I didn't have to type in credit card numbers, expiration dates, CVC values...et cetera. It was just awesome.
- My balance on Yours.org was running out...and I could see it on my phone. To add value to my account, I didn't need to go to the "Cash in" modal...I didn't even need to open up the site on my phone at all. I opened the Bitcoin.com app, pressed "Send", selected "Yours.org" on the "Transfer to Wallet" card, entered an amount...and confirmed the transfer on the next screen. I looked at my balance on my laptop and it was updated in seconds. Again...it just felt...great.
Something about these two transactions felt even more awesome than the other transactions/transfers I have done. I can't put my finger on it, but the more I use crypto currencies, the more convinced I become of their true power. Obviously I still want the value to increase (or at least be maintained), but I'm far more interested in being able to use them at this point.
For those new to crypto...
Set up a Bitcoin Cash wallet on your phone. Especially if you are using Yours...just do it and set up the Yours wallet as well....just to try it out. Send $5-10 to your phone's "Personal Wallet" and then transfer it to your "Yours" wallet when your balance gets low. If you're feeling generous, try sending a friend $0.50 of it to their account as I described above so they can comment or tip something...just see how it feels. Especially do this before you form too strong of an opinion on the "store of value" versus "low cost, fast transactions" debate (if you've heard of it yet...). The "store of value" is easy to see the benefit of; the "using in a transaction even as small as $0.10 faster than a credit card" is different. Maybe it won't be a big deal to you...but maybe it will.
For those who have been in crypto for a while...
Don't be too hard on people coming in to "make a quick buck because they heard about Bitcoin"...some of them may just stick around and turn into strong proponents/evangelists of the same values you have developed on your journey...