Magic Eden's cross chain NFT wallet offers robust security measures to protect your assets. However, if you find yourself unable to send Bitcoin from your Ordinals (Taproot) address, fear not. We've got you covered with a comprehensive guide to rescue your funds safely.
Understanding the issue
When attempting to send Bitcoin from your Ordinals (Taproot) address in Magic Eden Wallet, you may encounter difficulties. This is a protective measure to prevent accidental transfers of valuable assets like inscriptions or rare sats.
Your balance in Magic Eden Wallet will display Bitcoin stored in your Ordinals (Taproot) address, but the system will not recognize it when you attempt to send it.
Important note:
The solutions provided for recovering Bitcoin from the Taproot address in this article will only apply to wallets that were originally set up within the Magic Eden wallet and have not been imported from other providers.
Recovery process for Account 1
If you used Account 1 in Magic Eden Wallet, the recovery process is straightforward. You can import your funds to Unisat Wallet and initiate the transfer to your Payment address.
Import to Unisat wallet
Visit our guide on transferring Bitcoin from the Ordinals Wallet to Payment Wallet via Unisat for detailed instructions.
Recovery process for subsequent accounts
For users who utilized subsequent accounts in Magic Eden Wallet, the recovery process is more complex due to differing derivation paths. This is a standard practice in cryptocurrency. Learn more about address discrepancies and how to navigate them effectively by referring to our guide.
Fortunately, Sparrow Wallet offers a solution to recover your trapped Bitcoin. Follow these detailed steps meticulously:
Download and open Sparrow Wallet
Visit the Sparrow Wallet website and download the program.
Create a new wallet
Open Sparrow Wallet and select "File" then "New Wallet".
Enter a name for the wallet and set the 'Script Type' to Taproot (P2TR).
It will automatically open the 'Settings' tab in the sidebar. Select the ‘New or Imported Software Wallet’ button.
Import seed phrase
Choose "Use 12 Words" under the Mnemonic Words (BIP39) section. Enter your seed phrase from Magic Eden Wallet. Ensure you refer to our guide on safeguarding your digital assets with the 12-word secret recovery phrase.
Important note:
Ensure to exercise caution and double-check all transaction details before proceeding. Your security is paramount in every step of the recovery process.
Create Keystore and import
After entering your 12-word phrase, select the 'Create Keystore' button, then click 'Import Keystore' in the next step. Proceed by clicking 'Apply'.
Load Deposit account
Allow the wallet to load the 'Deposit' account, which corresponds to Account 1 in Magic Eden Wallet. Take note that it may take some time for Sparrow Wallet to index all transactions.
Navigate to correct account
Once inside the wallet interface, locate and click on the "Settings" tab. This tab typically contains various options and configurations for managing your wallet.
Within the Settings tab, look for the option to add a new account. Sparrow Wallet labels the first account as "Deposit," which corresponds to Account 1 in Magic Eden Wallet. Start by adding the "Deposit" account to begin your navigation.
After adding the "Deposit" account, continue adding accounts in sequential order. In Sparrow Wallet, the subsequent accounts are labeled as Account 1, Account 2, and so forth. Keep adding accounts until you reach the specific account where your Bitcoin is trapped.
As you add accounts, pay close attention to the account numbers and associated balances displayed in Sparrow Wallet. Compare this information with your records from Magic Eden's Wallet to ensure you're navigating to the correct account where your Bitcoin is stuck.
Note:
Adding accounts and loading transaction histories may take some time, especially if you have numerous accounts or extensive transaction histories. Be patient during this process, allowing Sparrow Wallet to synchronize and index all relevant data accurately.
Select UTXO and send
Once on the correct account, navigate to the UTXOs section in the Sparrow Wallet sidebar menu.
Identify the UTXO/s containing your trapped funds and select it.
Then, click the 'Send Selected' button at the bottom of the Sparrow app.
Complete transaction
Enter your Bitcoin payment address and set the fee.
Once you've carefully reviewed the transaction details by clicking 'Create Transaction,' ensure everything is accurate.
Then proceed by clicking 'Sign' to authorize the transfer securely.
Finally, click 'Broadcast Transaction' to initiate the transmission of the signed transaction to the Bitcoin network, completing the process and facilitating the transfer of your funds.
In the 'Transactions' tab on the sidebar of Sparrow Wallet you will see your outgoing transaction.
With Sparrow Wallet's helpful interface and our detailed guide, rescuing your Bitcoin from Magic Eden's cross chain NFT wallet is achievable. For further assistance or inquiries, don't hesitate to reach out to our support team via help.magiceden.io and clicking on the chat widget.