Glossary

Watch-Only Wallet

1 min read

Watch-only is a term used to describe Bitcoin wallets that allow you to keep track of your bitcoin in cold storage while disabling the ability to spend funds. This is because watch-only wallets do not store or use private keys, and are therefore unable to authorize any spends on behalf of the user.

These wallets use only public keys, allowing them to show users their balances and receive bitcoin. A watch-only setup enables use-cases such as being able to monitor wallets while travelling, keeping watch over a friend, or family members’ funds, and is an optimal part of cold storage.

➤ Learn more about about securing your bitcoin in Cold Storage.

Is this not the kind of wallet you are looking for? Take a look at our Choosing a Bitcoin Wallet guide to help you select one that suits you.

Related Terms
Public Key
A public key is used to receive bitcoin. When bitcoin is sent to a public key, only the owner of the corresponding private key will be able to spend it.
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Private Key
A private key is used to send bitcoin which was received by the corresponding public key. While a private key can generate a public key, the reverse is not true.
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Wallet
A wallet is a piece of software which generates and stores public and private keys, allowing users to send, receive, and store bitcoin.
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Cold Storage
Cold storage describes any method of storing data which does not connect to the internet or any other devices. A Cold wallet is a form of cold storage often used by bitcoiners to protect bitcoin which they do not plan on moving frequently.
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Extended Public Key (Xpub)
An extended public key, or xpub, is a public key which can be used to derive child public keys as part of a hierarchical deterministic wallet.
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Partially Signed Bitcoin Transactions (PSBT)
Partially Signed Bitcoin Transaction is a bitcoin standard which facilitates the portability of unsigned transactions. This allows multiple parties to easily sign the same transaction.
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