Sparrow Wallet: A Hands-on Guide

Sparrow wallet for Beginner 

In the previous article, we talked about Multi-Signature wallets. There are several applications that support and are easy for beginners to use. Today, we will introduce you to the basic usage through the Sparrow wallet application.

 

Getting Started with Sparrow wallet Installation

• Download the application at https://sparrowwallet.com
• Click download and choose to install according to your computer's operating system.

 

 

Scroll down to verifying the Release

• Download manifest signature

Install Sparrow wallet

• After the program is installed,
• Drag the manifest signature file downloaded from the previous step to the Sparrow wallet app to verify that the app you downloaded is correct.

• Click Sparrow on the menu bar -> preferences -> server. If you have your own node, you can connect to it directly. Otherwise, you can connect to a public server, then click test connection -> close.

 

Getting Started

 

Step 1: Create a wallet

• Click new wallet -> name your wallet -> create wallet

Step 2: Define wallet and connection details

• Select single signature -> native segwit
• Connect to the Hardware wallet you are using

 

 

Description of each section

• Transactions : Your wallet's transaction history.
• Balance : The amount of Bitcoin you own.
• Mempool : The amount of Bitcoin currently pending transactions.
• Transactions : The number of transactions you have made.

• Send : Section used for sending Bitcoin
• Pay to : Where you enter the address you want to send to
• Label : A section for identifying or noting who the Bitcoin you sent is for or what it's for. 
• Amount : The amount you wish to send

 

• FEE : Section for setting transaction fees
• Target block : Setting your transaction to be included within a certain number of blocks
• Mempool Size : Setting your transaction fee in sats/vB (you can check current fees on mempool.space)

• Receive : Section for receiving Bitcoin
• Address : Your wallet address, QR code for receiving Bitcoin
• Label : A field for identifying or noting who the Bitcoin you sent is for or what it's for. 

• Address : This section displays the first 20 unused addresses.
• Receive address : The address used to receive Bitcoin.
• Change address : Your withdrawal wallet address. This is generated after you send Bitcoin and there's leftover Bitcoin from the transaction. The remaining amount will go to the Change address.

• UTXOs : Section showing the number of available UTXOs

• Setting
• Policy Type : Type of wallet, options are single signature or multi signature
• Script type : Type of address (Native Segwit recommended)

Step 3: How to receive and send Bitcoin

How to receive Bitcoin

• Click on Receive -> Copy the address or QR code to the sender.

How to send Bitcoin

(In this example, I'm using Bitcoin testnet, so the address and transaction fees might seem unusual and higher than mainnet.)

• Click on Send 
• Paste the address into the "Pay to" field.
• Set a label (Sparrow requires a label, but it doesn't affect privacy as it's not broadcast with the transaction; it's just for identifying transactions within your wallet). 
• Specify the amount of Bitcoin you want to send and set the transaction fee (if you're not in a rush, you can use the default current value).
• Click "Create Transaction." 

• The system will display the information for you to verify its accuracy again. Once you have checked and confirmed its correctness, 
• Click Finalize Transaction for Signing -> Sign -> Broadcast Transaction

After you've read and tried it out, if you have any questions, feel free to inbox us on our FB fanpage. I hope this article is helpful to you all. Thank you! // Admin Ti 🟠🟠