This article is a summary of a YouTube video "How to use ColdCard with Sparrow Wallet | The ColdCard Guides" by Southern Bitcoiner

How to Use Cold Card with Sparrow Wallet

TLDRLearn how to export your public key from Cold Card to Sparrow Wallet and start receiving Bitcoin. Cold Card keeps your private key offline for maximum security.

Key insights

🔑Cold Card is an air-gapped Bitcoin hardware wallet that allows you to secure your Bitcoin offline.

🌐By exporting your public key from Cold Card to Sparrow Wallet, you can start receiving Bitcoin and monitor your balance.

💰Sparrow Wallet becomes a view-only wallet as the private key remains stored only in Cold Card, ensuring maximum security for your Bitcoin.

✉️To spend Bitcoin, you need to build a transaction in Sparrow Wallet, sign it offline using the private key on Cold Card, and broadcast it on the Bitcoin network.

🔒Always double-check the address you're sending Bitcoin to and set a label for better organization and tracking.

Q&A

Is Cold Card safe for long-term Bitcoin storage?

Yes, Cold Card is designed for long-term storage as it keeps the private key offline, protecting your Bitcoin from online threats.

Can I have multiple addresses in Sparrow Wallet?

Yes, Sparrow Wallet generates a new address for each transaction, allowing for better privacy and security.

What if I forget the pin for Cold Card?

If you forget the pin, your Bitcoin remains secure as the private key is not accessible without the pin.

Can I use Cold Card with other wallets?

Yes, Cold Card is compatible with various wallet apps, including Sparrow Wallet, Electrum, and Wasabi Wallet.

What happens if I lose my Cold Card?

If you lose your Cold Card, you can recover your Bitcoin using the backup seed phrase you generated during the initial setup.

Timestamped Summary

00:00Introduction to using Cold Card with Sparrow Wallet and the security benefits of Cold Card's offline storage.

01:06Exporting the public key from Cold Card to Sparrow Wallet to start receiving Bitcoin.

02:53Understanding the view-only functionality of Sparrow Wallet and the need for the private key to remain stored only in Cold Card.

04:37Building a transaction in Sparrow Wallet, signing it offline with the private key on Cold Card, and broadcasting it on the Bitcoin network to spend Bitcoin.

06:22Best practices for double-checking the recipient address, setting labels for better organization, and performing a test spend before larger transactions.