Do you know how to use Multibit Bitcoin wallet? If you don’t, there’s a very good reason for that. Simply put, you can’t. The Multibit Bitcoin Wallet was, starting in 2011 until roughly 2016, known as being an option for those on Mac, Windows, and Linux who wanted a lightweight or thin client that could open more than one cryptocurrency wallet at a time without the requirement of downloading the entire blockchain.
The people who wanted to use MultiBit functions found themselves at one point faced with the option of using the original version or switching to MultiBit HD. Unfortunately, both platforms are no longer supported–the development of both ended in 2017 after the platform was purchased by KeepKey and later sold again to Shapeshift.
How To Use MultiBit Bitcoin Wallet
…or rather, how to use it to retrieve any Bitcoins you may have stored in a MultiBit wallet. Some sources claim it’s still possible to perform transactions in the MultiBit wallet, but MultiBit does not support transaction fees that are not fixed. It also does not support SegWit addresses, which is a problem for those users on either end of the transaction. MultiBit is said to have issues that can affect your ability to sync or to perform transactions.
Retrieve Your Bitcoins
The best thing to do is not to try to spend all your Bitcoin assets from the MultiBit Wallet but rather transfer your coins to a modern, reputable alternative. Some sources advise that those who do not want to send or are unable to send from the Wallet consider exporting private keys from the MultiBit Wallet to a different cryptocurrency wallet. Depending on the platform you choose you have an option to “import private keys”, or you may need to initiate a “recovery phase”.
Those who were using an encrypted MultiBit Bitcoin Wallet and can’t remember the password will likely be forced to use a brute force tactic to gain access, or consider the use of a Cryptocurrency recovery service, which may be able to assist in cases where you have one of the following issues (not necessarily exclusive to MultiBit Wallet issues):
- Lost or forgotten password
- Corrupted cryptocurrency wallet
- Lost/missing cryptocurrency wallet
- Payment sent to the wrong currency type
If you choose to use a recovery service you will be required to agree to their terms of service and payment structure. Keep in mind that not all cryptocurrency retrieval issues are manageable even with outside help… you’ll need to ask the professional what options you have based on your circumstances. One common issue there’s no assistance with? Those who purchased Bitcoin in the past, but don’t know the platform, the wallet, or other important details. You will be required to bring as much information to the retrieval service for best results.