DEV Community

Cover image for Bitcoin Wallet in Python
NOWNodes
NOWNodes

Posted on

Bitcoin Wallet in Python

In this article, we will create a bitcoin HD (Hierarchical Deterministic) wallet using python language. To learn how HD wallet works, you can check this article.

Prerequisite

  • Python
  • Basic understanding of programming

Download and install python’s latest version from its official website.

We need to install a python library called bitcoinlib to create and manage bitcoin wallets. To install the library run following command.

pip install bitcoinlib

Bitcoin HD Wallet with Python

Using HD wallets, we can generate a complete suite of crypto wallets for different cryptocurrency networks using just one seed. However, in today’s article, we will only focus on Bitcoin and how to create a simple HD wallet.

So let’s create our first Bitcoin HD wallet.

from bitcoinlib.wallets import HDWallet
wallet = HDWallet.create('Wallet1')
key1 = wallet.new_key()
print(key1.address)

In the above script, we are performing the following steps:

  • Importing bitcoinlib library
  • create a new wallet
  • Generating a new HD Key.
  • Create a new address

To run the above program, save it in a file with .py extension. (Ex- hd_wallet1.py). Then run that file using the command below.

Bitcoin HD Wallet with Mnemonics

Mnemonics are very popular because they are easy to remember. Let’s see how to create a Bitcoin wallet using mnemonics.

from bitcoinlib.wallets import HDWallet, wallet_delete
from bitcoinlib.mnemonic import Mnemonic
passphrase = Mnemonic().generate()
print(passphrase)
wallet = HDWallet.create("mWallet1", keys=passphrase, network='bitcoin')
key1 = wallet.new_key()
print(key1.address)

In the above script, we are performing the following steps.

  • Importing relevant classes from bitcoinlib
  • Generating a random mnemonic, you can pass your own
  • Creating a new wallet named mWallet1
  • Generating keys
  • Getting bitcoin public address

To run this program, save it in a file with .py extension. (Ex- hd_wallet2.py). Then run that file using the command below.

python hd_wallet2.py

To learn more about the bitcoinlib library check out the official documentation.

Note: Never post your keys or mnemonic publically.

Discussion (5)

Collapse
serebrina profile image
Serebrina

If you're new to the world of crypto, figuring out how to buy Bitcoin, Dogecoin, Ethereum and other cryptocurrencies can be confusing at first. Thankfully, it's pretty simple to learn the ropes. All you need to do is learn the mechanisms that exist.

Collapse
bisseranast profile image
bisseranast

Bitcoin has been holding the leading position among cryptocurrencies for many years. But unfortunately, we still have few opportunities for calculating in bitcoin. Therefore, using your bitcoin wallets and online exchangers bestchange.com/bitcoin-to-paypal-u... you can sell bitcoin profitably and safely for you.

Collapse
cabaccum profile image
cabaccum • Edited on

Bitcoin transactions require special attention and care. Unfortunately, there are known cases of hacking of wallets and loss of money by users. Also remember passwords to your wallet