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Since Bitcoin Core version 0.21, there is no default wallet created automatically. You must explicitly create or load wallets using RPC commands or the GUI.

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Creating a Wallet

Wallets can be created using the createwallet RPC command or through the GUI.

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Using RPC

To create a basic descriptor wallet: 
bitcoin-cli createwallet "wallet-01"
To create an encrypted wallet with a passphrase: 
bitcoin-cli -named createwallet wallet_name="wallet-01" passphrase="passphrase"
If you lose your passphrase, all coins in the wallet will be permanently lost. There is no recovery mechanism.

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Using the GUI

1

Open Create Wallet Dialog

Click the Create a new wallet button on the main screen, or navigate to File > Create wallet.
2

Configure Wallet Options

Enter a wallet name and select desired options such as encryption, descriptor wallet type, and watch-only mode.
3

Set Passphrase (Optional)

If you choose to encrypt the wallet, enter and confirm a strong passphrase.

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Wallet Storage Location

By default, wallets are stored in the wallets folder within your data directory:
Operating SystemDefault Wallet Directory
Linux/home/<user>/.bitcoin/wallets
WindowsC:\Users\<user>\AppData\Local\Bitcoin\wallets
macOS/Users/<user>/Library/Application Support/Bitcoin/wallets
You can customize this location using the -datadir or -walletdir initialization parameters.

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Loading and Unloading Wallets

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Loading a Wallet

Load an existing wallet: 
bitcoin-cli loadwallet "wallet-01"
In the GUI, navigate to File > Open Wallet and select the wallet you want to load.

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Unloading a Wallet

Unload a currently loaded wallet: 
bitcoin-cli unloadwallet "wallet-01"

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Listing Loaded Wallets

View all currently loaded wallets: 
bitcoin-cli listwallets

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Encrypting Wallets

Wallet encryption protects your private keys with a passphrase. However, it significantly increases the risk of losing funds if you forget the passphrase.

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Encrypting an Existing Wallet

bitcoin-cli -rpcwallet="wallet-01" encryptwallet "passphrase"
After encrypting or changing your passphrase, immediately create a new backup. The keypool is flushed and a new HD seed is generated after encryption. Bitcoins received by the new seed cannot be recovered from previous backups.

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Changing the Passphrase

bitcoin-cli -rpcwallet="wallet-01" walletpassphrasechange "oldpassphrase" "newpassphrase"

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Unlocking Encrypted Wallets

When performing operations that require private keys (like sending transactions), encrypted wallets must be unlocked: 
bitcoin-cli -rpcwallet="wallet-01" walletpassphrase "passphrase" 120
The second argument (120) specifies the timeout in seconds that the wallet remains unlocked.

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Error When Locked

Attempting to send funds from a locked wallet produces an error: 
bitcoin-cli -rpcwallet="wallet-01" sendtoaddress "tb1qw508d6qejxtdg4y5r3zarvary0c5xw7kxpjzsx" 0.01

Error code: -13
Error message: Please enter the wallet passphrase with walletpassphrase first.

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Wallet Information

Get detailed information about a wallet: 
bitcoin-cli -rpcwallet="wallet-01" getwalletinfo
This returns information including:
  • Wallet name and version
  • Balance and transaction count
  • Whether the wallet is encrypted
  • HD seed status
  • Keypool size
  • Descriptor wallet status

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Understanding Wallet Passphrases

The wallet passphrase is an encryption key for your private keys, not to be confused with the HD seed:
  • Not the Seed: The passphrase encrypts private keys but is separate from the HD seed that derives keys
  • Protection Against Unauthorized Access: Prevents access if someone gains physical access to your device
  • Doesn’t Encrypt Metadata: Transaction history and public keys remain visible
  • Risk of Fund Loss: A forgotten passphrase results in permanent loss of access to funds
The passphrase does not protect against sophisticated attacks like keyloggers. An attacker with access to your device can potentially capture your passphrase when you enter it.

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Multiple Wallets

Bitcoin Core supports loading multiple wallets simultaneously. When using RPC commands with multiple wallets loaded, specify which wallet to use with the -rpcwallet parameter: 
bitcoin-cli -rpcwallet="wallet-01" getbalance
bitcoin-cli -rpcwallet="wallet-02" getbalance
In the GUI, use the wallet dropdown in the upper right corner to switch between loaded wallets.