Install and use Bitcoin Private (BTCP)

Bitcoin Private (BTCP) can be managed from Ledger devices through the use of the Electrum BTCP application and the BTCP app on your Ledger device. Both are developed and supported by the Bitcoin Private community.

Solutions to common issues are described at the bottom of this article. Please refer to the Bitcoin Private community support page for more information and troubleshooting.

Note: This guide allows the creation of new BTCP wallets. Coin recovery / coin splitting is not supported.

 

1. Ensure you can use Bitcoin Private with Ledger

 

2. Install the BTCP application on your Ledger device

  • Launch the Ledger Manager. Refer to this article to learn how to install and use the Ledger Manager.
  • Connect your Ledger Nano S and enter your PIN to unlock the device.
  • Click on the green arrow button to install the BTCP app.
  • Confirm using the right button in case the device displays Allow Ledger manager?
  • Quit the Ledger Manager.

If the error message Unable to install application appears, refer to this article.

InstallBTCP.png

 

3. Open Bitcoin Private on your Ledger device

  • Once the BTCP application is installed, use the left or right button to find it on the dashboard.
  • Press both left and right buttons simultaneously to launch the app.

NanoSBTCP.png

 

4. Install and Create an Electrum BTCP wallet

  • Download the latest release of Electrum BTCP.
  • If this is your first time launching, create the wallet by selecting Auto connect.

ConnectServer.png

  • If you have used Electrum BTCP before, go to the File Menu and select File > New/Restore to create an additional wallet.

NewRestoreMac.png

  • Choose a name for your wallet.

NameYourWallet.png

  • Next, choose Standard wallet.

StandardWallet.png

  • When asked about Keystore, choose the option Use a hardware device.

keystore.png

  • At the Hardware Keystore screen, always choose the first option listed.hardwarekeystore.png
  • Leave the Derivation path on the default setting as shown below. Derivation.png
  • The Electrum main window will now open. From the View Menu, select View > Show Addresses to view the public addresses associated with your Nano S.

 

Troubleshooting and Support

Solutions to common issues are described below. Please refer to the Bitcoin Private community support page for more information and troubleshooting. 

Note: This app is developed and supported by a third party on Ledger's platform.  

At the Hardware Keystore setup screen, I get  No Hardware Device Detected
Make sure your Nano is unlocked with your PIN in order for the device to be recognized.

Exception: Invalid Status 6700
Make sure the BTCP application is launched on your Ledger device.

Exception: Invalid Sequence
Make sure your Ledger device is unlocked with your PIN code.

Any other error on Windows when creating the hardware keystore

  1. Open Windows Settings, navigate to Devices, find the Nano S device and select Remove device.
  2. Unplug the device and then plug it back in.

WinRemoveNanoS.png

 

5. Recovering BTCP from BTC at the Fork

  • BTC Legacy Address (starts with a 1): create a new wallet and set the derivation path to: 44/0/0   

pasted_image_0.png

 

  • BTC Segwit Address (starts with a 3): create a new wallet and use this derivation path as shown below. 

Note: Spending is currently disabled on version 1.1.1, but will be enabled soon on a subsequent update.

pasted_image_0__1_.png

 

  • To send the funds, open the Coins tab on the main page.

pasted_image_0__2_.png

 

  • Click spend and send to an address on your main BTCP enabled wallet.

pasted_image_0__3_.png

 

  • Spend the whole amount minus the transaction fee and click preview.

pasted_image_0__4_.png

pasted_image_0__5_.png

Note: You should only have 1 output and it should be the original Coin amount minus the transaction fee. 

  • Sign and broadcast the transaction.

Was this article helpful?
84 out of 144 found this helpful