How to Migrate from Blink to Coin Wallet

Blink is a custodial Bitcoin wallet designed for seamless Lightning Network transactions. Its primary purpose is to simplify Bitcoin payments, making them fast and practical for everyday activities. Developed from the Galoy Wallet initiative used in El Salvador, Blink aims to make sending Bitcoin as effortless as sending a text message.

On the other hand, Coin Wallet stands out as a self-custodial solution, ensuring that your cryptocurrency remains safe and secure. Our commitment to user privacy means we never share personal information or private keys with third parties.

This article will guide you through the process of migrating from a custodial wallet like Blink to a self-custodial alternative like Coin Wallet.

Blink Wallet Features Overview

Blink operates as a custodial wallet, meaning your private keys are managed by Blink instead of being stored directly by you. It follows a full reserve custodial model, securing user funds in cold storage and multi-signature vaults for enhanced security.

When accessing Blink, users log in with their phone number or a one-time code sent via SMS or WhatsApp, rather than a seed phrase. The platform automatically handles backups and recovery. Consequently, many users wonder about the seed phrase for migration purposes.

Finding the Seed Phrase

Our research indicates that Blink does not provide users with a seed phrase. The system is based on trust in the custodian rather than personal key management, which is typical for custodial platforms.

This arrangement leads to several key points:

• The ability to export private keys to another wallet is not available.
• Account recovery relies on your phone or email, instead of a 12- or 24-word seed phrase.
• Should Blink become inoperative, retrieving funds could hinge on the service’s ability to restore itself.

However, there’s still a simple solution for migrating your funds, which we think you’ll appreciate.

Steps to Transition from Blink to Coin Wallet

The only route to migration is to transfer your Bitcoin from the custodial Blink wallet to the self-custodial Coin Wallet. Here’s how to do it:

Step 1: Install Coin Wallet
Begin by downloading the official Coin Wallet application from our website for Android, iOS, or on your desktop.

Step 2: Create a New Wallet and Secure Your Seed Phrase
Choose “Create New Wallet” during the setup. Coin Wallet will present you with a 12 or 24-word seed phrase. It’s essential to note these words and store them safely offline, as they are crucial for future fund recovery.

Step 3: Determine the Address Type Needed
Coin Wallet is compatible with Bitcoin (on-chain), meaning you’ll need a standard BTC address to proceed.

Step 4: Copy Your Receiving Address
In the Coin Wallet app, navigate to Bitcoin → Receive, and copy your BTC address.

Step 5: Open Blink and Transfer Bitcoin
Within the Blink app, select the Send option, paste your Coin Wallet address, and initiate a small test transaction first. Confirm that it safely arrives in your Coin Wallet. If everything is successful, you can go ahead and transfer the remainder of your balance.

Once completed, your Bitcoin balance will be accessible in Coin Wallet.

Essential Tips for a Smooth Transition

• Always perform a test transaction before transferring your entire balance.
• Keep your seed phrase offline; avoid storing it in digital formats.
• Verify the authenticity of wallet applications before downloading to prevent phishing attempts.

If you encounter any issues, feel free to reach out to us at support@coin.space.

Welcome to the Coin Wallet community 💚