A watch-only wallet allows you to monitor your Bitcoin balance and transaction history on a computer or phone without ever exposing your private keys. It's a powerful tool for convenience and security. You can check your funds at any time without needing to connect your BitBox02. This is done using an Extended Public Key, which can generate all your public addresses but cannot spend any funds.

This guide shows you how to get your extended public key from the BitBoxApp and use it to create a watch-only wallet in Electrum.

Before you begin:

• Please ensure your BitBox02 is fully set up and updated to the latest firmware using the BitBoxApp, and have the device ready to connect and unlock when prompted for secure actions.
• The latest version of Electrum must be installed. For your security, only download it from the official website (https://electrum.org).

Step 1: Get the Extended Public Key from the BitBoxApp

1. Open the BitBoxApp on your computer.
2. Select the account you want to use from the left sidebar.
3. Click on 'Account info' in the top right corner of the screen.
4. Copy the extended public key that is displayed.

More about Extended public keys and how to see them in the BitBoxApp, see here: Extended public keys explained 

Step 2: Create the watch-only wallet in Electrum

1. Open Electrum on the computer where you want the watch-only wallet and start the new wallet wizard.

2. Choose Standard wallet. 

3. On the next screen, select Use a master key.

4. Paste your extended public key into the text field. Electrum will now generate a view-only version of your wallet.

For a more detailed walkthrough, you can reference this guide: Creating a watch-only wallet in Electrum 

FAQ Section:

Can I spend bitcoin from a watch-only wallet?

No. As the name implies, you can only "watch." A watch-only wallet does not contain any private keys, which are required to sign and authorize transactions. All spending must still be done from a wallet connected to your BitBox02.

Is it safe to share my Extended Public Key?

You should be very careful about who you share your extended Public Key with. Anyone with your Public Key can see all of your past and future transactions for that account. This can be a major privacy risk. Only share it with trusted applications or services.

Can I generate receiving addresses in a watch-only wallet?

Yes, you can, but it is not recommended for security. An address generated on a potentially insecure computer should not be trusted. Always generate and verify receiving addresses directly on your BitBox02's secure screen to ensure your funds are safe.