Here you can find answers to the frequently asked questions.
If you don’t find what you are looking for here, please get in touch
Check out this video review posted by a Peercoin user :
What is a woodwallet?
A Woodwallet is a secure mean for storing Bitcoins and other cryptos offline as a physical object. Woodwallets’ underlying principles are the same as traditional paper-wallets : a two-sided wallet card contains a private key (encrypted) on one side and the corresponding public address on the other. The woodwallet also comes with the corresponding QR code engraved so you can scan it with any smartphone/camera.
By shaping wood we provide you with a reliable, unique and durable product that, unlike paper, is designed to last. Perfect to secure your savings offline on something valuable, Woodwallets is also a mean to spread crypto currency. Bring it with you, gift it to a friend, or use it to kick-off conversations. Show around that crypto currency is not so ‘virtual’ as they might think.
Woodwallets is available in three versions : public address only, private key only, and double side. Read further.
Why would I trust you with my private key?
You don’t have to trust us since we don’t take your plain private key. We only accept encrypted private keys. This means that your key is protected by a passphrase and without it there is nothing we can do with it. It will take a state-of-the-art supercomputer million years to crack a decent passphrase.
You can even take a picture of your private side and post-it online if you feel like.
We offer tutorials and an easy-to-use tool to encrypt your keys.
How does a Woodwallet work?
Pretty straightforward : send the funds to the public address by scanning the QR-code on the public side. When you want to spend/redeem/transfer the funds from your woodwallet you will then need to use the private key. The private key needs to be first decrypted and then imported to a wallet-application.
Is wood resistant enough?
The wood we are using is rock-solid and water proof. Maple’s veins make each piece unique and the resulting details are outstanding. We wanted to create something both resistant and beautiful. Judge yourself
After being left in water for more than 5 minutes, hit with a hammer and scraped with sand-paper the wallet is still perfectly intact. You can take it with you everywhere, use it daily, pass it hands-to-hands and be confident that it won’t degrade.
How can I generate BIP38 address and private key?
On our website we dedicated an entire section to explain it. We are currently working on a software solution that will simplify your life. Stay tuned.
Is it safe?
“If good security practices are followed, wood wallets are one of the safest ways to to store Bitcoins.”
How can I import the encrypted private key into an electronic wallet?
The easiest way is using Mycellium app which lets you scan BIP38 keys. Otherwise you would need to first decrypt it ( for example wih bit2factor ) and then import into your wallet application or blockchain.info account.
How do I withdraw funds from the woodwallet?
Several online wallet services (e.g. blockchain.info) will let you import your woodwallet using the private key (after decrypting it). Always import the entire balance as if you were breaking a piggy safe. If you try to spend or withdraw only a portion of your funds you risk loosing the rest due to the change address. Read more here and here or here.
Most clients will return change to a newly-generated change address, which is not the same as the address on the paper wallet. So if you spend a partial amount, the rest of the coins will go to a change address in your client and the wallet will be empty.
If you use the blockchain.info wallets you are protected from this. The Blockchain.info wallet behaves differently than most wallets. When you spend coins from a Blockchain address, the change goes back into the same address that you spent from. That’s why your change remains in the paper wallet. But to the best of our knowledge, Blockchain.info is the only wallet software that works that way.
It’s generally not good practice to reuse addresses, because it makes your financial activity easier to track.
For which cryptos do you have woodwallets available?
We currently support all major altcoins. Go to the product page and see the available cryptos on the dropdown menu on the left side of the page. We are working towards the implementation and design of more cryptos. Get in touch for specific requests.
Which payments methods do you take?
We warm-heartedly accept Bitcoin and several cryptos through coinpayments.
What does it mean that the private key has to be BIP38 encrypted?
BIP38 stands for Bitcoin Improvement Proposal 38, and is intended for use on paper wallets and physical Bitcoin. It can be considered as a two-factor authentication layer for Bitcoin: you have to combine something that you have (the woodwallet) with something that you know (a passphrase) to access your funds.
In practice it’s an open source cryptographic protocol for “encrypting and encoding a passphrase-protected Bitcoin private key record in the form of a 58-character Base58Check-encoded printable string” . It is becoming a de-facto standard and popular services like bitaddress.org and bitcoinwallet.org started using it.
You can refer to the official github repository for more details.
Can I encrypt my private key with a different mechanism?
Yes. If you don’t want to use BIP38 and prefer another technology to encrypt your key, go ahead.
Which wallet-type is more suitable for me?
We offer three options : Double-sided Private + Public key, Single-sided Private key only and Single-sided Public key only.
Double-sided Private + Public key : This is the complete solution that allows you to store bitcoins offline and spend/redeem/transfer them.
Single-sided Private key only : Its good practice to keep multiple copies of your private key (safely) to add redundancy in case you lose/break one of them.
Single-sided Public key only : bring it always with you and let people scan it to pay you. With this wallet you won’t be able to spend the funds, only receive them.
What happens if I lose the Woodwallet?
If that was the only copy of your private key, then your funds are gone for good. We never keep a copy of your data for security reasons. We suggest you get multiple copies of your private key. Thats why we offer the one-sided “private key only” wood wallet.
Does the QR get scanned easily?
Yes, smoothly. We put a lot of effort in making the best readable QR and we reached paper-like levels. The contrast is very strong and details are impressive. We tested it against multiple cameras and lighting and it works perfectly.
Is that a zero or an ‘O’?
We used special fonts to let you distinguish between zeros and ‘o’ . Because we care.
What is the maximum length of the custom message?
Can I add a custom text to the private side?
Nope, only to the public side.
What is the size of the wallet?
Slightly smaller than a credit card and 3mm thick. 47x74x3mm
Where are the wallets produced?
Woodwallets are designed, manufactured and shipped in Barcelona’s first makerspace.
Do you ship worldwide?
Yes we do, by International priority mail and UPS.
How long will it take to delivery with the free-shipping option?
Usually it takes up to 4-5 days to deliver to Europe and up to 15 business days to US and Asia. Depending on your location things may change.
Is the leather wallet I see in the picture included?
Nope. Its just for demonstration and show the proportion. Also, you won’t get the nexus 5
Still not convinced?
Understandable, after all the Bitcoin rule #1 is to trust no-one. For you we have a public-side only wallet. For any other question you can mail us and we will make you feel safe.