Receive Bitcoin securely with Sparrow Wallet and Specter DIY

When we receive large amounts of Bitcoin on-chain to our Bitcoin wallet, it's important to receive Bitcoin securely. Hacker attacks, which use malware to reveal a hacker's Bitcoin addresses, are a particularly serious threat. In this article, you'll learn step by step how to receive Bitcoin securely without falling victim to such attacks. We'll use the Sparrow Wallet PC app and the Specter DIY hardware wallet to verify Bitcoin addresses.

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1. Risks of receiving Bitcoin

One of the most common threats when receiving Bitcoins is fake QR codes and Bitcoin addresses manipulated by viruses. This poses a direct risk if you want to receive Bitcoins securely. This means you're sending Bitcoins to a hacker-generated address instead of the correct one. However, this problem can be avoided by checking the address displayed on your PC with a hardware wallet beforehand.

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2. Preparation: Sparrow Wallet and Specter DIY

Sparrow Wallet:

• The Sparrow Wallet serves as a so-called companion app, a desktop wallet
• This companion app has all our wallet information, but since it is connected to the internet, we don't want to trust it
• Blog Post Wallet Specter DIY Wallet Share information to Sparrow

Spectre DIY:

• The Specter DIY is a hardware wallet that works independently of your computer. This step is crucial to ensure that you Receive Bitcoin securely by checking whether the Bitcoin address displayed by the Sparrow Wallet is actually the correct one.

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3. Step-by-step guide to receiving Bitcoin securely

Step 1: Prepare your wallet

In the Sparrow Wallet, go to the function Receive to generate a new receiving address. Make sure you always select an unused address; this is important for privacy reasons.

Step 2: Enter seed words and passphrase

Make sure you enter the seed words and, if applicable, a passphrase correctly in the Specter DIY. This is necessary for the next step.

In the dashboard, the first question is whether you have selected the correct wallet. Because each seed phrase-passphrase combination has different wallets (Account Numbers). If you want to change this from default to another number, you can download this video view.

Now you can Wallets and select the appropriate wallet.

If no other one has been created then it is defaultYou will now see the various Bitcoin addresses and can use the arrow keys to navigate to the one displayed by the Sparrow Wallet. Please note the numbering of the Bitcoin addresses.

Step 3: Verify address to receive Bitcoin securely

Use the Specter DIY to verify the displayed address to ensure you can receive Bitcoin safely:

• Make sure that the Bitcoin address shown by the Sparrow Wallet matches the address derived by the Specter DIY
• This will prevent a virus from manipulating the address.

Step 4: Prepare the transaction

After verifying your address, you can now send Bitcoin. Make sure you double-check the address to ensure no viruses have altered it during the copying process. This is the final step to securely receive Bitcoin.

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4. Security and privacy tips

• Address usage: Use a new Bitcoin address for each transaction to protect your privacy
• Labeling of addresses: Assign labels to your addresses in the Sparrow Wallet. This way, you can keep track of where the Bitcoin comes from and
• Check clipboard: Make sure the address you have in your clipboard hasn't been compromised by malware. Compare it to the address in your Sparrow Wallet and Spectre DIY to ensure you can safely receive Bitcoin.

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5. Transaction and completion

Once verified, you can securely send Bitcoin to the verified address. It takes some time for the transaction to be confirmed on the network, so be patient. Once confirmed, you can view your transaction and current balance in the Sparrow Wallet, allowing you to securely manage your transactions.

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Conclusion: Combining Sparrow Wallet and Specter DIY offers you a highly secure method to receive Bitcoin safely and protect yourself from hacker attacks. Always be sure to check the displayed addresses and never use previously used addresses for new transactions.