Creating Bitcoin Watch-Only Wallet for iPhone

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We have previously discussed what a Bitcoin watch-only wallet is, why you should get one and the risks involved in setting one up. Today, we would discuss how iPhone users can create their own Bitcoin watch-only wallets. A procedure for setting up Bitcoin watch-only wallets for Android users and for Windows users is also available.

There are two different types of Bitcoin wallet structures – deterministic and non-deterministic. We would be discussing how to set up Bitcoin watch-only wallets for both and would begin with deterministic wallets. If you are tracking particular addresses, follow the process for non-deterministic wallets.

Deterministic wallets

Get relevant wallet information

Step 1: Determine what kind of wallet you are using

Check if you are using a deterministic wallet. Hardware wallets such as Ledger or Trezor are deterministic wallets. If you have a non-deterministic wallet or only wish to track particular addresses, skip to the section below on non-deterministic wallets.

Step 2: Extract your Extended Public Key

The Extended Public Key determines the format of the wallet addresses you have. The table below provides a summary of various Extended Public Keys and their associated addresses.

Address TypeWallet TypeExtended Public KeyAddress Format
Legacy BitcoinLegacy walletXPUBBegins with 1
P2SH-P2WPKHSegWit walletYPUBBegins with 3
P2WPKHSegWit walletZPUBBegins with bc1

Thus, if your wallet address is 339xN86kVE2DosHZN9D6AnzkGA2KpMLHdQ, you should be obtaining a YPUB since your address begins with 3.

Ledger

L1. Plug in your device and access Ledger Live.

L2. Select the wrench icon in the top right-hand corner.

Selecting the wrench icon in Ledger Live

L3. Under the Advanced Logs section, you would see a long string of characters beginning with XPUB. This is your Extended Public Key.

Extracting XPUB from Ledger Live

Ledger currently has an issue where the Extended Public Keys do not work properly. In other words, even though Ledger addresses begin with 3, the XPUB is shown instead of the YPUB. This is a known issue which Ledger is currently fixing. The workaround is to extract YPUB using Electrum as shown here.

Trezor

T1. Plug in your device and access Trezor Bridge.

T2. Click on the name of your device. After that, select Basic. Finally, select the Show XPUBs button.

Getting the XPUB from Trezor

Download and configure app to track funds

Step 3: Go to the App Store and download bitWallet.

bitWallet app on the App store

Security tip: Before downloading any app, always check the reviews. Complaints of scams by reviewers would alert you about malicious apps.

Step 4: Select the bottom left-hand corner.

Selecting a menu in bitWallet

Step 5: Select Add Wallet.

Selecting Add Wallet in bitWallet

Step 6: Name your wallet and select the crypto you would like to track.

Naming your wallet and selecting your coins in bitWallet

Step 7: Select HD Wallet.

Selecting HD Wallet in bitWallet

Step 8: Select Restore a Wallet.

Selecting Restore a Wallet in bitWallet

Step 9: Enter your Extended Public Key.

Entering your Extended Public Key in bitWallet

Security tip: The app asks you to import either your Extended Public Key, Mnemonic Seed or Extended Private Key. Under no circumstances should you import your Mnemonic Seed or Extended Private Key!

Step 10: At this screen, select Save.

Saving your wallet information in bitWallet

Step 11: Your wallet would show up on the main screen.

Successful creation of wallet in bitWallet

Verify that your wallet works

Step 12: Select your wallet from the main screen. To check that this has been correctly set up, access your wallet. Click the first address ie. Address 0 and take note of this address.

Reviewing addresses added in bitWallet

Reviewing a specific address in bitWallet

Step 13: Verify that the address matches that indicated in Ledger or Trezor. In the screenshot below, the address reflected in Ledger Live is similar to that shown in Step 12.

Getting receiving address in Ledger Live

This step assumes you have not carried out any transactions in Ledger or Trezor. If you have done so, this verification can still be performed. However, the current address shown in Ledger or Trezor would not be the first address listed in the Address section of Electrum.

Also, check that the balance in your watch-only wallet agrees to your Ledger or Trezor balance. If you have yet to transfer funds to your wallets, you can send some funds to them and check that your watch-only wallet updates for them.

Step 14: Give yourself a pat on the back! Your Bitcoin watch-only wallet for iPhone has been successfully created.

Non-Deterministic wallets Or tracking specific addresses

The process for setting up is similar to deterministic wallets. However, instead of importing the Extended Public Key, you would be importing addresses you wish to track.

Get relevant wallet information

Step 1: Extract the addresses you wish to import. For simplicity, we would import the address shown in our Ledger Live screenshot above in step 13.

339xN86kVE2DosHZN9D6AnzkGA2KpMLHdQ

Download and configure app to track funds

Step 2: Go to the app store and download bitWallet

bitWallet app on the App store

Security tip: Before downloading any app, always check the reviews. Complaints of scams by reviewers would alert you about malicious apps.

Step 3: Select the menu at the bottom left-hand corner.Selecting a menu in bitWallet

Step 4: Select Add Wallet.

Selecting Add Wallet in bitWallet

Step 5: Name your wallet and select the crypto you would like to track.

Naming your wallet and selecting your coins in bitWallet

Step 6: Select Classic Wallet.

Select Classic Wallet in bitWallet

Step 7: Your wallet shows up on the main screen. Select your wallet.

Successful creation of wallet in bitWallet

Step 8: Click the + sign at the bottom right-hand corner of the screen.

Select the plus sign in the bottom right hand corner in bitWallet

Step 9: Give a name to your address in the Name section. Enter the address you would like to track in the Public Address section. Select Save in the top right-hand corner.

Adding your address and giving it a name in bitWallet

Step 10: The address you have saved would show up as shown below.

Successful creation of wallet address in bitWallet

Step 11: Repeat steps 8 and 9 as many times as you need to add the addresses you wish to track.

Verify that your wallet works

Step 12: Check that the balance in your watch-only wallet is correct. If you have yet to transfer funds to the addresses you track, you can send some funds to them and check that your watch-only wallet updates for them.

Step 13: Give yourself a pat on the back! Your Bitcoin watch-only wallet for iPhone has been successfully created.

Conclusion

Did you like our method for creating Bitcoin watch-only wallets for your iPhone? Have another app or method to recommend us?

Let us know in the comments below!

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