We suppose if you are looking forward to knowing how to unlock a blockchain wallet, you are already aware of what is a Blockchain wallet because you are using it. Still, if you have any doubt about anything related to the Blockchain wallet, you can clear it out by reading this guide.
In this article, you will learn everything about a blockchain wallet including what it means, how it works, and how you can unlock it. Having any sort of trouble with your crypto wallet and need help? Contact Blockchain Support and let our experts assist you with all your issues remotely.
What is a Blockchain Wallet?
A Blockchain wallet helps you manage and store your cryptocurrencies to keep them safe from unauthorized access. It allows you to send and receive funds easily. There are various types of Blockchain wallets which include hardware wallets, software wallets, web wallets, and paper wallets.
Today in this blog, we will talk about how you can unlock your Blockchain wallets like Electrum, Jaxx, Blockchain.info, etc. The transactions you process from your blockchain wallets are secure and cryptographically signed. These wallets can be accessed from desktop, mobile apps, and directly through websites too.
The process of exchanging cryptocurrency on a Blockchain wallet is typically similar to sending and receiving money on PayPal or other payment gateways. Let’s find out some more details about how Blockchain wallets work in the next section.
How Do Blockchain Wallets Work?
After creating a Blockchain wallet you are provided a private key and a public key. You should be well aware of the importance of these two things in a Blockchain wallet. Basically, the public key of your Blockchain wallet is like an email address.
People will use it to send you cryptocurrencies however it won’t give them access to your wallet. Whereas private keys can be compared to the email account’s password that you need to keep a secret.
Whoever will have your private key can access your wallet and hence cryptocurrencies so it should be kept safe in any way.
Unlike email passwords that are easy to recover, if you lose access to your private keys, you lose access to your wallet once for all.
How To Unlock Blockchain Wallet?
Blockchain wallets can be encrypted using a passphrase that will prevent anyone from getting access to your cryptocurrencies easily. This way even if someone gets access to your device, they won’t be able to access your wallet and cryptos. When you encrypt your Blockchain wallet, you need to enter a passphrase every time you need to access your cryptocurrencies and transfer them to anyone.
Once you have enabled encryption and locked your wallet, you will be asked to enter the password each time you try to access your Blockchain wallet.
In case you are having trouble unlocking your wallet, you should read the below and find out how you can unlock your blockchain wallets safely.
Decrypting Blockchain Wallet
You need to unlock your account not only while exchanging cryptocurrency but also exporting private keys. Then there are some QT wallets that only require you to enter the password for staking or minting.
The most important thing that you need to fix in your mind is that if you lose your password or passphrase, you’ll lose all your cryptos stored in the wallet. Besides memorizing the password, you should also note it down on paper and keep it somewhere safe. This way even in case you forget the password, you will have it stored and can find it from there. Now let’s see how you can unlock your blockchain wallet.
- In most wallets, the Unlock Wallet option is available under settings. So you should navigate to Settings first and then select Unlock wallet.
- When asked, enter the passphrase or password you set before to unlock the wallet properly.
- Once, you have unlocked the wallet, you can stake and send coins and even export the private keys.
Some people are facing issues in which their wallets are not getting unlocked completely. You might get the “Wallet is unlocked for minting only” or “wallet is encrypted and currently unlocked” message. This problem is common with Verge and Peercoin wallets and can be fixed by using the RPC console window.
Fixing Wallet is Unlocked For Minting Only Problem
The “Wallet is unlocked for minting only” error is experienced by many users of Verge wallet that occurs while dumping private keys.
The Wallet Mining is a feature available in Peercoin wallet that is similar to staking. However, we are not aware of why this error occurs in Verge wallet since it is a PoW coin. Anyways if you are also receiving any such error, then the below steps can help you unlock your blockchain wallet completely.
- Open your wallet and go to Help.
- Select Debug Window and then Console.
- Now you need to enter your wallet passphrase in the Console Window.
- You will see “wallet passphrase <passphrase> <timeout> [mintonly]”, where you need to enter your password in the given space and then time for how long you need to unlock your blockchain wallet. For example, enter 60 if you want to unlock the wallet for 60 seconds. It will then look like a wallet passphrase your password 60.
- Once done, hit Enter and your wallet will get unlocked.
You can now access, stake, or send your cryptocurrencies or export private keys. Your wallet will get locked again after the time expires, 60 seconds if you have set it to 60. If the wallet does not lock back after the timeout, you should lock it manually by entering “wallet lock” in the console window without quotes.
Still can’t unlock your Blockchain wallet or have doubts? Reach Blockchain Support experts regarding all your problems with cryptocurrency or blockchain and let us help you with it all. You can also refer to our guides and resources to know more about Blockchain and fix some common problems on your own.