Secalot acts as a hardware bitcoin wallet. All cryptographic keys (and hence your bitcoins) are stored inside the device without a possibility to read them out. When you make a transaction, transaction details are passed to the device, Secalot signs the transaction and outputs the signature.
Secalot integrates with the popular Electum bitcoin wallet software. We are offering a special build of electrum that works with Secalot.
Secalot supports normal P2PKH transactions, can participate in P2SH multisignature transactions, and supports segWit P2SH-P2WPKH transactions.
Let’s go over how to create a new wallet and sign a transaction.
Create or import a P2PKH wallet
Open electrum and select a name for your new wallet. Choose standard wallet and on the next screen choose “Use a hardware device”. You should see your Secalot device on the next screen. Click next.
On the next screen, you have an option to either create a new wallet or to restore your wallet from a seed. Set your PIN-code and press “Create wallet”.
If you have chosen to create a new wallet, the next screen will show you the new wallet’s seed. Save it in a secure place, preferably in a non-electronic form, for example writing it on paper. Anyone who has access to your seed has access to all the bitcoins in your wallet. You can use the seed to restore your wallet later if you break or lose your Secalot device.
Create or import a P2SH-P2WPKH segWit wallet
Creating or importing a P2SH-P2WPKH is identical to creating a P2PKH wallet, except for that on the “Derivation” window, you should change “m/44’/1’/0′” to “m/49’/1’/0′” on the wallet derivation control.
Create or import a P2SH multisignature wallet
If you want to use Secalot to be one of the signees as part of a multisignature wallet, choose “Multi-signature wallet” on the first wallet creation screen. Choose the number of cosigners and the number of required signatures on the next screen. Then continue as described in the P2PKH wallet creation section.
Sign a transaction
Lest sign a transaction using a P2SH-P2WPKH segWit wallet.
On the electrum main screen select the “Send” tab and input the address of where you want to send bitcoins to. Enter the amount you want to send. Click the “Send” button and confirm the transaction details.
A dialog prompting you to confirm the transaction on your device will pop up.
Press the bitcoin confirmation touch button on top of your device.
Your payment is sent.
Delete a wallet
If you want to delete a wallet from a device, you can do so by entering an incorrect PIN-code three times in a row. Once you do so, the wallet will be irreversibly wiped from your device. Then you can delete the “software” part of the wallet from electrum choosing “Delete” in the “File” menu.