Hey everyone,
I’ve got a wallet set up on Ubuntu 22.04 using snap and bitcoin core 26.
When I type this in the terminal:
I can’t find any option like that.
Is there a method to convert my old wallet to an HD wallet?
I seriously couldn’t find anything on Google about it.
Appreciate your help!
Michael
Since you're using QT (GUI), just launch Bitcoin Core normally and go to console (Window->Console).
Select the target wallet in the drop-down menu of the console (if not available, load load it first) and enter the command: upgradewallet
But in case if you're actually asking how to upgrade it into a 'descriptor wallet':
Select the old wallet in overview's wallet drop-down menu, then use "File->Migrate Wallet" to convert it into a descriptor wallet.
Wait for it to finish, it may take a while depending on the contents of the wallet file.
Thank you for your answer nc50lc!
I have a few more perhaps stupid beginner's questions:
I only have one wallet.dat file, so not several wallets. I use this as long-term storage for my coins.
I have passphrase encrypted my wallet and always make backups of the wallet.dat if I generate a new address.
If I now convert my wallet into an HD wallet or a Descriptor wallet and something goes wrong, can I still use my old wallet.dat file again if I copy it to the wallet.dat location via linux termial?
Should I update my wallet.dat at all? I hardly ever generate new addresses. Or do I have a disadvantage if I leave everything as it is?
What would you recommend?
Thx a lot
Michael
Yes, but it's better to use the proper import method rather than manual copy of the wallet.dat file to the wallets directory.
Use the command: bitcoin-cli restorewallet "wallet_name" "path_to_old_wallet.dat_file_backup"
link: https://bitcoincore.org/en/doc/25.0.0/rpc/wallet/restorewallet/
I'd recommend to migrate to a descriptor wallet.
The main reason is because legacy wallet format support will soon be dropped by Bitcoin Core.