Ethereum: How to spend bitcoins from multiple wallets in a single transaction?

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Spending Bitcoins from Multiple Wallets in a Single Transaction: A Step-by-Step Guide

Bitcoin is a decentralized digital currency that allows users to send and receive funds without the need for intermediaries like banks. However, when it comes to spending bitcoins from multiple wallets in a single transaction, things can get complex.

In this article, we’ll explore how to spend bitcoins from multiple wallets using the Bitcoin Core command line, a popular tool for managing cryptocurrency transactions.

Why Send Bitcoins from Multiple Wallets?

There are several reasons why you might want to spend bitcoins from multiple wallets in a single transaction:

• Split transactions: When conducting everyday transactions, it’s common to split payment into smaller amounts. Using multiple wallets ensures that the funds are distributed across different addresses.

• Multi-sig wallets: Some wallets require more than one signature (or «sigs») to authorize transactions. Spending bitcoins from multiple wallets allows for these complex multi-sig configurations.

• Receiving multiple payments: If you receive multiple payments from different sources, spending all of them in a single transaction can simplify the process.

Using Bitcoin Core to Spend Bitcoins from Multiple Wallets

To spend bitcoins from multiple wallets in a single transaction using Bitcoin Core, follow these steps:

• List your wallets: First, list all of your connected wallets and their associated addresses. This will help you identify which wallet is responsible for each payment.

• Create a new transaction: Using the Bitcoin Core command line (e.g., bitcoinc -t 0x1234567890abcdef --amount=10), create a new transaction that involves spending bitcoins from multiple wallets.

• Specify the addresses and amounts: Enter each wallet address and its associated amount in the format: [wallet_address]: [amount].

• List the outputs: Bitcoin Core will list all of the outputs involved in the transaction, including the recipient’s address, amount, and other details.

Example Transaction

Suppose you have three wallets:

Wallet A: 0x1234567890abcdef

Wallet B: 0x87654321098765a

Wallet C: 0x0123456789abcdef

You want to spend 10 bitcoins from Wallet A, 5 bitcoins from Wallet B, and 3 bitcoins from Wallet C in a single transaction. Using Bitcoin Core:

• List all wallets:

$ bitcoinc -t 0x1234567890abcdef --amount=10

$ bitcoinc -t 0x87654321098765a --amount=5

$ bitcoinc -t 0x0123456789abcdef --amount=3

• Create a new transaction:

$ bitcoinc -t 0x1234567890abcdef --amount=10 --outputs=[Wallet A: 10, Wallet B: 5, Wallet C: 3]

Tips and Variations

• Use the --all-outputs option: This allows you to specify multiple outputs with different addresses.

• Specify a specific wallet as the sender: If you want to send bitcoins from one wallet but spend them on another, use the -s option followed by the address of the recipient wallet and the amount.

• Use the --noconfirm option: Spend bitcoins in a single transaction without confirming each payment. This can be useful when conducting large or complex transactions.

By following these steps and tips, you should be able to spend bitcoins from multiple wallets in a single transaction using Bitcoin Core. Happy shipping!