Gooday, please i want to know how to transform my non spendable bitcoins to spendable bitcoins on blockchain account for the sake of being able to spend them please someone help me out I'm lost. I dont know how to retrieve the private key? I got the bitcoins from an account manager that traded for me and supposedly made a blockchain account for me, where all the money was being sent to but a non-spendable account. The broker used to sending the money was IQ options, i do not know what to believe but please, please and please i want those bitcoins to be spendable and usable...Please someone or anyone, give me a SOLUTION!!!... I have my backup phrases if that helps and to be honest I have an average knowledge of bitcoins. SOMEONE PLEASE HELP ME!!!
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2If you're referring to watch-only addresses, and coins you have in them, the answer is almost certainly that they were never yours - this is a common scam. Though you'll need to expand your question (how did you end up in this situation, what do you see, what site you use, where you got it, ...) to be sure. – Pieter Wuille Jan 30 '20 at 15:59
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Someone helped me trade and supposedly sent the bitcoins to my blockchain wallet, I use blockchain.com and like I said the money was gotten from a trading account, IQ options to be exact. – Manuel_Scott Jan 30 '20 at 16:14
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1That sounds like you were scammed. – Pieter Wuille Jan 30 '20 at 16:15
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Damn, I can't get them back? – Manuel_Scott Jan 30 '20 at 16:20
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The money is still in my non-spendable account!!!!!!!! – Manuel_Scott Jan 30 '20 at 16:22
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3I can't tell without more details, but if it's the common watchonly wallet scam, it's not that you can't get them back - it's that you never had any. A watch-only wallet is for watching someone else's coins. – Pieter Wuille Jan 30 '20 at 16:22
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What the hell?, seriously?...I got duped?...so non-spendable bitcoin wallets are just facades damn – Manuel_Scott Jan 30 '20 at 16:24
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I wish I could send u a pic or a screenshot – Manuel_Scott Jan 30 '20 at 16:25
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Does this answer your question? How can I get a private key for this address – Pieter Wuille Feb 01 '20 at 19:39
1 Answers
non spendable bitcoins
That usually means either
- a watch-only address in a cryptocurrency wallet
- an account with a custodial service with some withdrawal restrictions.
In either case, you are not the owner of those Bitcoins so far as the Bitcoin network is concerned. The watch-only address is a favourite trick of scammers/conmen. They like to set up accounts and wallets that look like they contain money but which, in a non-obvious way, don't give the victim any control over money - that helps them to trick people. The conmen then ask the victim for a series of invented special "release" fees or extra deposits.
Someone helped me trade
Usually a sign of a scam. Unless its someone you met in person in real life and have known well for years.
a trading account, IQ options ... an account manager that traded for me
Very often the sign of a scam
I'm pretty certain your money was taken by a scammer and not used in the way they claimed.
blockchain account
The only recourse in this situation is to report this theft to Blockchain.com, to the police and if the "helper" is identifiable and located in the same country, explore pursuing it through the courts. It is extremely unlikely the money can be recovered and attempts to recover the money through the legal system are likely to cost more money.
I have my backup phrases
I would use that to recreate a clean wallet on a clean freshly installed PC (not one your helper has ever known about) and see if it actually contains anything. Most likely it is an empty wallet. Probably the watch-only addresses in your wallet were added separately and any money shown there is not under the control of your recovery phrase.
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