Certified Bitcoin Professional Practice Exam

Can addresses and keys created with one Bitcoin application be exported into another application?

1. Yes, always

2. No, they cannot

3. Only with specific wallets

4. Only if they are of the same type

The correct answer is: No, they cannot

The assertion that addresses and keys created with one Bitcoin application cannot be exported into another application is not accurate. In fact, many Bitcoin applications utilize a standardized structure for creating keys and addresses, particularly if they adhere to the BIP32 standard for hierarchical deterministic wallets or BIP44 for multi-account wallets. This allows for interoperability between different wallets and applications that comply with these standards. While it's true that the way keys and addresses are handled might vary between different applications, the underlying principles of key generation remain consistent across many wallets. Hence, users often can export their keys and addresses from one wallet application to another, provided the exported format is compatible. It's also worth noting that Bitcoin works with public and private key pairs; as long as the format of the keys is compatible (like the WIF format for private keys), they can generally be imported into another wallet that supports the same standard. Therefore, the most accurate understanding is that while there can be challenges in the export-import process depending on specific application features, the broad claim that they cannot be exported at all doesn't hold true, making the chosen answer less plausible when considering how Bitcoin applications are designed.