Hardfork with Exodus Wallet using a Bitcoin Private Key to redeem BitcoinGold
Bitcoin GOLD Hardfork is anticipated to take effect as of 25th October, which will split the bitcoin protocol into 2 independent version of BTC. Similar to BitcoinCash Hardfork, the Bitcoin Gold hardfork could possibly have similar result whereby every Bitcoin Holder receives “free” Bitcoin Gold
Visit BitcoinGold Official Website
Bitcoin Gold initial coin distribution method is exactly the same as that used by Bitcoin Cash. This means that the Bitcoin Cash Hardfork, which occurred on August 1, and the upcoming SegWit2x hardfork, scheduled for mid-November, are bound to have the same distribution method
In this Post, I intend to cover some basic instruction on how to prepare and benefit from Bitcoin Hardfork via Exodus Cryptocurrency Desktop Wallet
Definitely, would recommend all my readers to consider using Exodus Multi-Crypto Desktop Wallet. If you’re interested to learn more about Exodus, feel free to read my previous post: Exodus Review
Exodus, is a great choice because you’re in control all of the Bitcoin’s Private Keys and
It’s also one of the more popular Wallet Client with millions of registered users. This post will explain how investor who use Exodus Wallet to store Bitcoin, can redeem their Bitcoin Gold after the Hardfork
‘’If you own the Private Key, you’ll own the Bitcoin’’
What exactly is a Private Key (or Address)?
It is a 256-bit long number which is picked randomly as soon as you make a wallet.
The degree of randomness and uniqueness is well defined by cryptographic functions for security purposes.
5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hSsWXMssSzNydYXYB9KF
Basically, you’ll need to claim your Bitcoin Gold once the Hardfork is implemented this done only if the user themselves own Bitcoin prior the chain-split.
In order to claim BitcoinGold, the only requirement is that you need to control BTC private keys in which your Bitcoin are stored. Basically, any secure Bitcoin wallet that gives the user exclusive control of the cryptographic private keys is a suitable location to store BitcoinGold.
A Desktop Wallet, will usually have a backup file that has the information for your private key embedded on it and would be usually encrypted with a password in addition (Exodus User set Password)
Other Cryptocurrency wallets may offer you direct access to your BTG, while others may require you to take additional technical steps. Those who use Exodus Wallet can actually view their Private Key by accessing the secret Developer Tab, this is simply done by pressing a couple of Keys while the Client runs, follow these steps below to view your personal Bitcoin Private Keys
Step 1 Setup the Exodus Wallet
When you sign up with Exodus, proceed by setting up Wallet, this is done with a 12 phrase back up phrase and also user set password to secure their Exodus Client. Note that neither the Backup Phrase or user-set Password represent your Bitcoin Private Keys.
Step 2 Access Exodus Developer Tab
This is the Tricky part that many Exodus users may not actually know or are aware of, which is how to export the Bitcoin Private Keys (Exodus Wallet has more than 1 Bitcoin Address). All you need to do is, simultaneously Press CTRL+ SHIFT + D to have access to Exodus Developer Tab.
Step 3 Export Bitcoin Private Key
Under the Developer Tab, click on Developer>Assets>Bitcoin>Export Private Keys
A notification should pop up, warning you to keep your Private Key secure, proceed by clicking on ‘’I’m Sure’’ and a ‘’success’’ note will appear (It will also indicate where the Excel Document is Located)
Step 4 Find the Bitcoin Private Keys Document
Search the designated File as indicated on the ‘’Success’’ note, once found there will be a folder containing an Excel Spreadsheet format document. Open it to directly view your personal Bitcoin Private Keys
If you followed all these Steps, you’ll be granted access to your Bitcoin Keys which can be used to redeem Bitcoin Gold. Don’t keep any BTC on Exchanges prior a Bitcoin Hardfork, as you have no way of retrieving your Private Keys, resulting in you not being able to claim any Bitcoin Gold or Segwit2x Tokens
“The private key must remain secret at all times because revealing it to third parties is equivalent to giving them control over the bitcoins secured by that key. The private key must also be backed up and protected from accidental loss, because if it’s lost it cannot be recovered and the funds secured by it are forever lost, too.”
― Andreas M. Antonopoulos, Mastering Bitcoin: Unlocking Digital Cryptocurrencies
Warning: To all the Newbies out there, please Beware of scammers who promise to give you BTG early if you share your Bitcoin private key with them. Keep in mind that a Bitcoin Private Key, should never be shared with any third party who can use it to gain access and control someone’s Bitcoin
I have my BTC in Jaxx, and I used Exodus to retrieve my Bitcoin Cash. I had to copy and paste the private keys into a section of Exodus under "developer" that was clearly labeled Bitcoin Cash. Will there be a section under Exodus "developer" tab to open a Bitcoin Gold wallet? I obviously need to use the same private keys for the same address where my BTC were stored. But the method I used for claiming Bitcoin Cash does not seem to be available (yet) in Exodus. Will it become available?
That is a good Question. It seems that Exodus have expressed their support for BitcoinCash however don't support BitcoinGold. Hence,why you would need to claim your BitcoinGold via your Private Key. This should be done via BitcoinGold Client, which should become available soon. However, i'm keeping my BitcoinGold, cause I'm not going to entrust BitcoinGold Developer by using my Private Key online anytime soon. You'll mostly likely have to wait 1 or 2 Months
Hi, I wish I had read this a few days ago. I have been trawling everywhere trying to find out what to do to be safe. I ended up with electum. Great post Very useful. Thanks
interesting post, I've read and see your blog. I am waiting for another interesting post from you
Thank you for your post @steemitguide ! Upvoted and resteemed. I had no idea I could see my private keys from EXODUS. I thought that they were hidden for the users. And also thanks for clarifying the process with Bitcoin Gold as we're only 1 day and a half away.
Thank you so much for this. I'd been looking for a wallet option as opposed to relying on bittrex. Plus exodus is good LTC too. Will be using.
Thanks for sharing
Thanks for the great info on how to export my private key but just one problem - Now that I have the key, what do I do with it?? I still don't have my bitcoin gold....
You'll have to wait for awhile, basically you'll have to go the Offficial Website. They would provide a ''Claiming Service'' or you'll have to download their official client, either ways. You have the private Keys, I'm still waiting. BTCGold website got hacked and I don't trust them just yet. Wait for couple of weeks, before you trust any third party with your Bitcoin Private Keys. Rest assured that BitcoinGold is credited to your Account
@steemitguide I liked this post! As today 25th of November, I am having issues trying to claim my BTG. I use Exodus, I transferred all my funds to my hardware wallet, to make it more secure before trying to claim my BTG.
After I went to the btg official website, I saw they have listed the online wallet: btgwallet.online once I click "sign in" it takes me to a window where I have to type my private key. I have not done this yet, my question is, should I use my Exodus private key here?
If not, which wallet should I use to claim my BTG being a BTC holder using a wallet that doesn't support BTG (Exodus) ?
Thanks in advance!