Blockchain.info, does recovery phrase recover all wallets?

0

I need some help understanding blockchain.info.

1.

Under the Default wallet, I can generate multiple addresses and also see the Extended Public Key (xPub). If I go to the iancoleman BIP39 mnemonic converter, and input my backup phrase, it shows all the addressed I generated in the default wallet, and also shows my Extended Public Key (xPub).

But:

If I add a new wallet by clicking "Add", and create addresses under it, I do not see these addresses on the bip39 page: https://i.imgur.com/0LZcxWq.png This wallet also has a different xPub that is not on the bip39 page: https://i.imgur.com/WDlXZHz.png

Can someone please explain this?

2.

The wallet recovery backup phrase, does it only backup the default wallet (and all addresses in it)? Or does it backup all wallets within blockchain.info ? (I am talking about wallets created using the "Add" button, NOT another account with a different email).

The reason I'm confused, as I stated above, if I input the recovery phrase in the BIP page, it only shows the xPub and addresses associated with the default wallet only.

If someone help please?

Thank you!

kayan1

Posted 2017-08-30T18:17:10.303

Reputation: 5

Answers

1

Blockchain.info follows the BIP 44 standard for derivation paths, so the default account has a derivation path of m/44'/0'/0'/0. The derivation path for each account follows the format of m/44'/0'/i'/0. So for each account, increment i to get the address for it. On https://iancoleman.github.io/bip39/, when you scroll down, click the BIP 44 tab and increment the number in the "Account" box to get the next account you made.

Andrew Chow

Posted 2017-08-30T18:17:10.303

Reputation: 40 910

Thanks. I like your clear way of explanation, it's rare. For future reference, if a recovery phrase is compromised, what should be done? Should one abandon the whole account and create another with a new email? What if there are still funds in the old account? Thanks again. – kayan1 – 2017-08-30T19:51:22.870

If your recovery phrase is compromised, you should abandon the entire account as all your private keys will be compromised. The best thing to do is to make a new wallet and send all of your coins there as soon as possible. Also, I recommend that you don't use blockchain.info. – Andrew Chow – 2017-08-30T20:01:03.240

I appreciate your generous help. Can you give a reason for not using blockchain.info please? And suggest an alternative web wallet? I'm looking into BTC.com, BitGo and Strongcoin.com, but so far it's been laborious just to understand blockchain.info. So I haven't figured out whether the rest give full access to keys like blockchain.info. – kayan1 – 2017-08-30T20:17:32.527

I highly recommend that you do not use a web wallet at all whatsoever. No web wallet gives you full control of your private keys (not even blockchain.info, regardless of what they say). Besides that, blockchain.info has had multiple coin-losing security incidents in the past. I recommend that you use any wallet listed here: https://bitcoin.org/en/choose-your-wallet. Wallets listed on bitcoin.org need to meet specific security, usability, and privacy requirements. Note that blockchain.info is no longer listed on bitcoin.org.

– Andrew Chow – 2017-08-30T20:28:05.890

I tried doing that couple of days ago, but things got terrible confusing. I suspect all this technical stuff might be a barrier to entry for Bitcoin :) If you care to share feedback, please see: https://bitcoin.stackexchange.com/questions/58872/web-wallet-difference

– kayan1 – 2017-08-30T20:35:25.533

Hi Andrew, what are your thoughts on myetherwallet vs. blockchain.info for storing ETH? Thank you. – kayan1 – 2017-09-13T19:41:18.010

Asked: 2017-08-30T18:17:10.303

Viewed: 885 times

Active: 2017-08-30T19:02:03.990