We are excited to introduce a significant update to Nunchuk: the new Wallet Rollover feature. This powerful tool provides a comprehensive solution for migrating from an old wallet to a new wallet while maintaining your preferred coin management strategy.
A Leap Forward in Wallet Management
Until now, migrating from an old wallet to a new wallet has been a largely manual process, requiring users to carefully manage transactions and coin control themselves. Nunchuk’s Wallet Rollover feature automates much of this process, dramatically reducing the potential for errors and saving time. Moreover, our advanced coin control management is unparalleled in the Bitcoin wallet space, offering a level of granularity and privacy preservation techniques previously unavailable to users.
Independent Rollover Feature
The Wallet Rollover feature operates independently and can be utilized in various scenarios that require fund transfers between wallets, including key replacement processes.
Key Capabilities:
1. Transfer between any wallet types (single-sig to multi-sig, vice versa, or between different multi-sig configurations).
2. Preserve coin segregation strategy during transfers.
3. Enhance privacy further through randomized broadcast of the rollover transactions.
Nunchuk is the first Bitcoin wallet to offer this level of automation and granular control in wallet transitions.
Advanced Coin Control During Rollover
This feature enables users to preserve their coin segregation strategy when migrating to a new wallet. Whether you segregate your coins for privacy, accounting, or any other purpose, you can now maintain this organization during a wallet transition.
Key Benefits Include:
* Preservation of existing tags and collections, maintaining the separation of coins based on origin, purpose, or other criteria.
* Enhanced privacy by preserving your original coin management strategy.
Important Details:
* To maintain your coin segregation strategy, the rollover feature may create multiple transactions.
* For enhanced privacy, we recommend broadcasting these transactions at random intervals rather than all at once. This practice obscures the connection between the newly created coins and the old and new wallets.
* Subscribers benefit from an automatic randomized broadcasting feature, further enhancing transaction privacy.
Why This Matters
1. Seamless Key Replacement: In case of a lost or compromised key, you can quickly transition to a new wallet setup while maintaining your preferred coin organization, minimizing disruption and stress.
2. Evolving Security Needs: As your Bitcoin holdings grow or your security requirements change, you can easily transition between different wallet types (e.g., from single-sig to multi-sig) without the hassle of manual transfers.
3. Privacy Enhancement: By preserving your coin segregation strategy and using randomized broadcasting, you can significantly improve onchain privacy during wallet transitions.
4. Flexibility for Various Use Cases: Whether you’re setting up an inheritance plan, adjusting business wallet structures, or simply reorganizing your funds, this feature adapts to your specific needs.
5. User Control: You retain full control over your bitcoin throughout the entire process, adhering to the principles of self-custody while benefiting from advanced automation.
It’s important to note that while preserving coin segregation strategy offers privacy benefits, it may result in multiple transactions, potentially increasing on-chain fees. Users can weigh this trade-off based on their specific privacy needs and cost considerations.
How to Use Wallet Rollover
To initiate a wallet rollover, navigate to: The wallet you want to migrate from > View wallet config > More menu > Roll funds over to another wallet.
Looking Ahead
At Nunchuk, we are committed to pushing the boundaries of Bitcoin self-custody. This update represents a significant leap forward in wallet management flexibility and user control. We’re excited to see how our users leverage these new capabilities to enhance their Bitcoin security and wallet management strategies.
Stay tuned for more innovations as we continue to evolve the Nunchuk ecosystem. Your financial sovereignty is our top priority, and we’re dedicated to providing you with the tools you need to maintain complete control over your bitcoin.
