Watch-Only Wallet

Definition

A watch-only wallet tracks addresses and balances without storing private keys. It can view transactions and generate receiving addresses but cannot sign or send transactions. It's used for monitoring holdings or creating unsigned transactions for cold storage signing.

Technical Explanation

Watch-only wallets contain only public keys or extended public keys (xpub). They can derive all receiving addresses and track incoming funds but lack signing capability. For spending, they create unsigned transactions that must be signed by a separate device holding private keys.

Common workflows: import xpub from hardware wallet to track balance; monitor cold storage without exposure; create transactions on hot device, sign on cold device, broadcast from hot device. This maintains security while enabling convenient monitoring.

SynX Relevance

SynX supports watch-only mode through view keys. Import your view key into a secondary device to monitor all incoming transactions without risking your spend key. Your cold storage stays cold while you maintain visibility.

Frequently Asked Questions

Can a watch-only wallet be hacked?: No spending keys exist—worst case, an attacker sees your balance and transaction history.
How do I send from a watch-only wallet?: Create unsigned transaction, sign with cold wallet, broadcast the signed transaction.
What's the difference between view key and watch-only?: View keys enable watch-only functionality in privacy coins like SynX.

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