I want to accept BTC from different clients during an ICO, for this, I’m planning to use a combination of BIP32 and BIP39.
var bip39 = require("bip39"); var bitcoin = require("bitcoinjs-lib"); var mnemonic = 'praise you muffin lion enable neck grocery crumble super myself license ghost'; var seed = bip39.mnemonicToSeed(mnemonic); var root = bitcoin.HDNode.fromSeedBuffer(seed); console.log(root.derivePath("m/0'/0/0").getAddress()); //'1AVQHbGuES57wD68AJi7Gcobc3RZrfYWTC' console.log(root.derivePath("m/0'/0/1").getAddress()); //'1Ad6nsmqDzbQo5a822C9bkvAfrYv9mc1JL'
Can I use this mnemonic to login into some pre-existing wallet and transfer the funds sent to the addresses generated using the root to transfer funds to any other BTC wallet? Or can someone suggest a better strategy?