How to restore blockchain.com wallet into Electrum Segwit in 5 Easy Steps


This first appeared in the Blockonomics Blog, see more articles there.

 

Below are five easy steps to import your blockchain wallet into Electrum. Make sure to have Electrum downloaded from the official site

Step 1

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Create a Standard Wallet.

Step 2

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Click on I already have a seed. We'll use your Blockchain seed

Step 3

Blockchain wallet seed can be obtained from Security Center > Backup Phrase

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Enter the 12 word seed and make sure select BIP39 seed by clicking on Options

Step 4

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Wallet type should be p2pkh. For derivation path see below:

If you have multiple wallets in Settings> Wallets and Addresses, please refer below on what to set as derivation path

  • My Bitcoin Wallet(which is the first wallet created) will have derivation path as m/44'/0'/0'
  • The second wallet will have derivation path as m/44'/0'/1'
  • The third wallet will have derivation path as m/44'/0'/2'

Blockchain wallet derivation path

Blockchain wallet derivation path.

Step 5

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Choose a password for security. Note that this has relation to the blockchain wallet password.

Done! Your wallet is now recovered. Enjoy truly being your own bank !

Step 6 (Optional)

The existing base unit in electrum is mBTC which is confusing

Goto Tools > Preferences and set Base Unit as BTC. You can also set the explorer to blockonomics.co

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BitcoinPoliticalEnthusiast
BitcoinPoliticalEnthusiast

Frederick Coleman has been working in Bitcoin since 2017. He has had articles published in many online institutions including Hacker Noon and Blockonomics Blog, as well as having writing cited by articles in academic journals.


BitcoinPoliticalEnthusiast
BitcoinPoliticalEnthusiast

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