bitcoin transfer without creating wallet

0

My question is about transferring bitcoin between two addresses without having a wallet.

Here is my idea of transferring bitcoins in following way:

Idea:

I have my own Android Application. I am willing to send/receive bitcoin using blockcypher Apis

I will keep private and public keys generated from above apis in my own database by encrypting it.

Does it make sense?

This might be a stupid question to experts, but as a newbie in block-chain technology I am curious to know the right direction of the concept.

Sagar Shah

Posted 2018-08-23T05:53:34.487

Reputation: 113

1Essentially, it seems to me, what you are writing is what most would call "a wallet." A wallet is a system that keeps and manages bitcoin addresses (public keys) with their corresponding private keys. A wallet also knows and displays the total number of unspent coins it holds . – dbkeys – 2018-08-23T10:32:50.817

Answers

1

Sure, this would work.

That said, you are essentially building your own wallet - A wallet is simply a program that hold private keys, keeps track of spendable inputs, and signs transactions.

Your system achieves all of the above, so you are essentially building your own wallet.

Raghav Sood

Posted 2018-08-23T05:53:34.487

Reputation: 10 897

Asked: 2018-08-23T05:53:34.487

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Active: 2018-08-23T06:03:39.903