Recover BSV, CCHF, STAS and Private Keys from 12-Word Mnemonic

Table of Contents

Introduction #

Centi App is a user interface service provided under our terms. In these terms, you agreed to keep your wallet safe and secure at all times and take responsibility for doing so. In this article, we describe the advantages of this setup and how you can learn more about the digital cash you are using with the Centi App.

Centi’s main payment features utilize the BIP270 or Direct Payment Protocol Standard which enables payments in Centi Franc, BSV and other tokens. This standard again is made to interact with a public protocol (web3) which is the Bitcoinˢᵛ blockchain. This means that the control over your digital cash such as CCHF or BSV is with you all the time. This is good for you and Centi, as you can choose different user interfaces shall you need to and we do not need to hold money on your behalf to generate a great payment experience. Therefore you may be interested to learn how you can use different user interfaces to your wallet and/or extract private keys from it. The private key enables you to take your money anywhere you like at any time.

Disclaimer: Some below-described methods are not a product or service of Centi Ltd or part of its terms of service and the procedures are provided for educational purposes only. Usage of this information is at your own risk!

If you have a 12-word mnemonic phrase written down during your Centi App signup, you can recover your CCHF, BSV and private keys by following the steps outlined below. We’ll explain the basics of Bitcoin and how Centi digital cash builds on this standard, the process of deriving private keys from mnemonic phrases using a specific derivation path, and extracting BSV using Electrumˢᵛ wallet. We’ll also provide information on other wallets supporting the STAS-20 standard, which Centi Franc (CCHF) is built on.

What is Bitcoin and how Centi digital cash builds on this standard to have you control your funds #

Bitcoin is a distributed digital currency that enables peer-to-peer transactions without the need for financial intermediaries to transact digitally. It uses blockchain technology to maintain a public ledger of all transactions. Centi digital cash builds on the Bitcoin standard, allowing users to have complete control over their funds through the use of their wallet.

For more information on Centi Franc and Bitcoinˢᵛ, please visit the following links:

How to derive private keys from mnemonics using the derivation path #

To derive private keys from the 12-word mnemonic phrase from your Centi App, you’ll need to use the specific derivation path “m/44’/0’/0’/0/”. This process generates the private keys associated with the first 20 addresses of your wallet (this may be extended in the future).

For more information on deriving private keys from mnemonics, refer to this comprehensive guide and BIP39 Mnemonic Code Converter: https://iancoleman.io/bip39/

Extracting BSV using Electrumˢᵛ wallet and creating an Account using the mnemonic and the path #

To extract BSV from a wallet using the Electrumˢᵛ user interface, you’ll need to create a wallet, then an account using “import from text” and entering your mnemonic phrase and the specified derivation path. Follow the step-by-step instructions in the link: https://electrumsv.readthedocs.io/en/sv-1.3.15/getting-started/creating-an-account.html

Other wallets supporting the STAS-20 standard #

There are other wallets that support the STAS-20 standard, which Centi Franc (CCHF) is built on. A popular alternatives is Relysia: https://relysia.com/

Recovering STAS-20 Tokens from Private Key #

Example for recovering 100 of Centi Franc (10’000 CCHF tokens) with tokenID ed6fcd9f56efd619ded8322564e32d4b23be658a-CCHF you are trying to recover (n Centi Franc are n*100 CCHF tokens).

  1. Open a text editor like Notepad.
  2. Have your BSV private key ready. Please note that that particular key might not be secure any more after these steps and should not be reused after this procedure.
  3. Copy this to your text editor:

    {“dataArray”: [{“to”: “yourpaymail“,”amount”: 10000,”notes”: “recovery”,”tokenId”: “ed6fcd9f56efd619ded8322564e32d4b23be658a-CCHF”,”sn”: 0}]}

  4. Make necessary changes to the text in the editor, such as changing the amount from 10000 to your desired number, replacing TokenID with the TokenID of the token you want to recover, changing notes, and most importantly your paymail address of a compatible service, such as Centi App.
  5. Navigate to this page in your web browser: https://api.relysia.com/docs/static/index.html
  6. Find the endpoint /v1/drop, click on it such that it expands and then press [Try it Out] (see attachment)
  7. Copy your adjusted text block and replace the text block in the window. Please make sure you copy it with all the brackets and replace the entire text again.
  8. Enter your private key in the respective field
  9. Enter this code in the field for secret key: J@NcRfUjXn2r5u8x!A%D*G-KaPdSgVkY
  10. Leave the serviceID field empty
  11. Press [Execute]
  12. In the output field below you should get a response with the code 200 if everything was done correctly. It will also provide you with the transactionID.
  13. Find the recovered tokens in your compatible application.

Summary #

By following the ressources and steps provided in this FAQ entry, you have learned about  Bitcoinˢᵛ and related open standards and are now able to recover your BSV, CCHF and private keys from your 12-word mnemonic phrase with ease.

This means you have now learned how to access your funds independently of Centi App shall you ever want or need to!

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Do you have additional questions? Check our knowledge-base here https://centi.ch/faq/knowledge-base. We are happy to help you with additional questions and you can reach us under support@centi.ch!

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