Bitcoin Error: Unable to Decode PSBT

As a Bitcoin enthusiast, you’re not alone in facing errors when trying to load your wallet’s Public Sector Trezor (PSBT) into Bitcoin Core. In this article, we’ll delve into the details of the error message and provide steps to resolve it.

Error Message Explanation

The error “Unable to decode PSBT” occurs when attempting to load your PSBT into Bitcoin Core. This issue typically arises because the wallet’s PSBT is not properly encoded or decrypted using the psbt-encode command in Bitcoin Core.

PSBT Encoding and Decoding

In Bitcoin, a public sector transaction (PSBT) is used to represent transactions between a sender and recipient on the blockchain. The psbt-encode command is used to encode PSBTs into a format that can be decoded by Bitcoin Core.

The encoding process involves converting the PSBT data from binary format to human-readable text, which is then stored in Bitcoin Core’s database. However, if the encoding process fails or is incomplete, it can lead to errors like “Unable to decode PSBT” when loading your wallet’s PSBT into Bitcoin Core.

Solutions for the Error

To resolve this error and successfully load your PSBT into Bitcoin Core, try the following solutions:

• Check Wallet Configuration: Ensure that your wallet configuration is set correctly in Bitcoin Core. Check your wallet.conf file to verify that the psbt-encode option is enabled and configured properly.

• Use the Correct Encoding Format: Make sure you’re using the correct encoding format for your PSBT. The psbt-encode command can generate multiple formats, including PSBTHash, PSBTLow, and PSBLow. Ensure that you’ve selected the appropriate format for your wallet.

• Verify Encoding Output: Check the output of the psbt-encode command to ensure that it’s producing the expected PSBT file. You can do this by running the command directly on your wallet using bitcoincli psbt-encode.

• Use a Third-Party Wallet: If you’re experiencing issues with decoding your PSBT, consider using a third-party wallet like Electrum or Blockcykle that has more advanced PSBT encoding capabilities.

• Contact Bitcoin Core Support: If none of the above solutions work, reach out to Bitcoin Core’s support team for further assistance. They may be able to provide additional guidance or even offer a fix for your specific issue.

Conclusion

The “Unable to decode PSBT” error can be frustrating when trying to load your wallet’s Public Sector Trezor into Bitcoin Core. By checking wallet configuration, using the correct encoding format, and verifying output, you should be able to resolve this issue and successfully encode your PSBT. Remember to also explore alternative wallets or contact support if needed.

ETHEREUM EXTRACT BSCSCAN