diff --git a/lib/hd/common.js b/lib/hd/common.js
index d686332e..a8c9f180 100644
--- a/lib/hd/common.js
+++ b/lib/hd/common.js
@@ -117,13 +117,13 @@ common.isMaster = function isMaster(key) {
 /**
  * Test whether the key is (most likely) a BIP44 account key.
  * @param {HDPrivateKey|HDPublicKey} key
- * @param {Number?} accountIndex
+ * @param {Number?} account
  * @returns {Boolean}
  */
 
-common.isAccount44 = function isAccount44(key, accountIndex) {
-  if (accountIndex != null) {
-    if (key.childIndex !== common.HARDENED + accountIndex)
+common.isBIP44 = function isBIP44(key, account) {
+  if (account != null) {
+    if (key.childIndex !== common.HARDENED + account)
       return false;
   }
   return key.depth === 3 && key.childIndex >= common.HARDENED;
@@ -135,6 +135,6 @@ common.isAccount44 = function isAccount44(key, accountIndex) {
  * @returns {Boolean}
  */
 
-common.isPurpose45 = function isPurpose45(key) {
+common.isBIP45 = function isBIP45(key) {
   return key.depth === 1 && key.childIndex === common.HARDENED + 45;
 };
diff --git a/lib/hd/private.js b/lib/hd/private.js
index 99b4afda..ccddb884 100644
--- a/lib/hd/private.js
+++ b/lib/hd/private.js
@@ -252,18 +252,19 @@ HDPrivateKey.prototype.getID = function getID(index) {
 
 /**
  * Derive a BIP44 account key.
- * @param {Number} accountIndex
+ * @param {Number} account
+ * @param {Boolean?} bip48
  * @returns {HDPrivateKey}
  * @throws Error if key is not a master key.
  */
 
-HDPrivateKey.prototype.deriveAccount44 = function deriveAccount44(accountIndex) {
-  assert(util.isNumber(accountIndex), 'Account index must be a number.');
+HDPrivateKey.prototype.deriveBIP44 = function deriveBIP44(account, bip48) {
+  assert(util.isNumber(account), 'Account index must be a number.');
   assert(this.isMaster(), 'Cannot derive account index.');
   return this
-    .derive(44, true)
+    .derive(bip48 ? 48 : 44, true)
     .derive(this.network.keyPrefix.coinType, true)
-    .derive(accountIndex, true);
+    .derive(account, true);
 };
 
 /**
@@ -271,7 +272,7 @@ HDPrivateKey.prototype.deriveAccount44 = function deriveAccount44(accountIndex)
  * @returns {HDPrivateKey}
  */
 
-HDPrivateKey.prototype.derivePurpose45 = function derivePurpose45() {
+HDPrivateKey.prototype.deriveBIP45 = function deriveBIP45() {
   assert(this.isMaster(), 'Cannot derive purpose 45.');
   return this.derive(45, true);
 };
@@ -287,12 +288,12 @@ HDPrivateKey.prototype.isMaster = function isMaster() {
 
 /**
  * Test whether the key is (most likely) a BIP44 account key.
- * @param {Number?} accountIndex
+ * @param {Number?} account
  * @returns {Boolean}
  */
 
-HDPrivateKey.prototype.isAccount44 = function isAccount44(accountIndex) {
-  return common.isAccount44(this, accountIndex);
+HDPrivateKey.prototype.isBIP44 = function isBIP44(account) {
+  return common.isBIP44(this, account);
 };
 
 /**
@@ -300,8 +301,8 @@ HDPrivateKey.prototype.isAccount44 = function isAccount44(accountIndex) {
  * @returns {Boolean}
  */
 
-HDPrivateKey.prototype.isPurpose45 = function isPurpose45() {
-  return common.isPurpose45(this);
+HDPrivateKey.prototype.isBIP45 = function isBIP45() {
+  return common.isBIP45(this);
 };
 
 /**
diff --git a/lib/hd/public.js b/lib/hd/public.js
index 58aed56d..c9ea6490 100644
--- a/lib/hd/public.js
+++ b/lib/hd/public.js
@@ -218,13 +218,14 @@ HDPublicKey.prototype.getID = function getID(index) {
 /**
  * Derive a BIP44 account key (does not derive, only ensures account key).
  * @method
- * @param {Number} accountIndex
+ * @param {Number} account
+ * @param {Boolean?} bip48
  * @returns {HDPublicKey}
  * @throws Error if key is not already an account key.
  */
 
-HDPublicKey.prototype.deriveAccount44 = function deriveAccount44(accountIndex) {
-  assert(this.isAccount44(accountIndex), 'Cannot derive account index.');
+HDPublicKey.prototype.deriveBIP44 = function deriveBIP44(account, bip48) {
+  assert(this.isBIP44(account), 'Cannot derive account index.');
   return this;
 };
 
@@ -235,8 +236,8 @@ HDPublicKey.prototype.deriveAccount44 = function deriveAccount44(accountIndex) {
  * @throws Error if key is not already a purpose key.
  */
 
-HDPublicKey.prototype.derivePurpose45 = function derivePurpose45() {
-  assert(this.isPurpose45(), 'Cannot derive purpose 45.');
+HDPublicKey.prototype.deriveBIP45 = function deriveBIP45() {
+  assert(this.isBIP45(), 'Cannot derive purpose 45.');
   return this;
 };
 
@@ -253,12 +254,12 @@ HDPublicKey.prototype.isMaster = function isMaster() {
 /**
  * Test whether the key is (most likely) a BIP44 account key.
  * @method
- * @param {Number?} accountIndex
+ * @param {Number?} account
  * @returns {Boolean}
  */
 
-HDPublicKey.prototype.isAccount44 = function isAccount44(accountIndex) {
-  return common.isAccount44(this, accountIndex);
+HDPublicKey.prototype.isBIP44 = function isBIP44(account) {
+  return common.isBIP44(this, account);
 };
 
 /**
@@ -267,8 +268,8 @@ HDPublicKey.prototype.isAccount44 = function isAccount44(accountIndex) {
  * @returns {Boolean}
  */
 
-HDPublicKey.prototype.isPurpose45 = function isPurpose45() {
-  return common.isPurpose45(this);
+HDPublicKey.prototype.isBIP45 = function isBIP45() {
+  return common.isBIP45(this);
 };
 
 /**
diff --git a/lib/wallet/account.js b/lib/wallet/account.js
index 24cc5e66..013aad34 100644
--- a/lib/wallet/account.js
+++ b/lib/wallet/account.js
@@ -285,7 +285,7 @@ Account.prototype.pushKey = function pushKey(key) {
   if (!HD.isPublic(key))
     throw new Error('Must add HD keys to wallet.');
 
-  if (!key.isAccount44())
+  if (!key.isBIP44())
     throw new Error('Must add HD account keys to BIP44 wallet.');
 
   if (this.type !== Account.types.MULTISIG)
@@ -325,7 +325,7 @@ Account.prototype.spliceKey = function spliceKey(key) {
   if (!HD.isPublic(key))
     throw new Error('Must add HD keys to wallet.');
 
-  if (!key.isAccount44())
+  if (!key.isBIP44())
     throw new Error('Must add HD account keys to BIP44 wallet.');
 
   if (this.type !== Account.types.MULTISIG)
@@ -542,7 +542,7 @@ Account.prototype.deriveKey = function deriveKey(branch, index, master) {
   assert(typeof branch === 'number');
 
   if (master && master.key && !this.watchOnly) {
-    key = master.key.deriveAccount44(this.accountIndex);
+    key = master.key.deriveBIP44(this.accountIndex);
     key = key.derive(branch).derive(index);
   } else {
     key = this.accountKey.derive(branch).derive(index);
diff --git a/lib/wallet/wallet.js b/lib/wallet/wallet.js
index 39279bda..6282d2d7 100644
--- a/lib/wallet/wallet.js
+++ b/lib/wallet/wallet.js
@@ -705,7 +705,7 @@ Wallet.prototype._createAccount = async function createAccount(options, passphra
       'Network mismatch for watch only key.');
   } else {
     assert(this.master.key);
-    key = this.master.key.deriveAccount44(this.accountDepth);
+    key = this.master.key.deriveBIP44(this.accountDepth);
     key = key.toPublic();
   }
 
diff --git a/test/util/memwallet.js b/test/util/memwallet.js
index dcb42f6c..939f4663 100644
--- a/test/util/memwallet.js
+++ b/test/util/memwallet.js
@@ -89,7 +89,7 @@ MemWallet.prototype.init = function init() {
     this.master = HD.PrivateKey.generate();
 
   if (!this.key)
-    this.key = this.master.deriveAccount44(this.account);
+    this.key = this.master.deriveBIP44(this.account);
 
   i = this.receiveDepth;
   while (i--)
@@ -133,7 +133,7 @@ MemWallet.prototype.derivePath = function derivePath(path) {
 };
 
 MemWallet.prototype.deriveKey = function deriveKey(branch, index) {
-  let key = this.master.deriveAccount44(this.account);
+  let key = this.master.deriveBIP44(this.account);
   key = key.derive(branch).derive(index);
   key = new KeyRing({
     network: this.network,
diff --git a/test/wallet-test.js b/test/wallet-test.js
index 0e7be4da..6f6d7a5a 100644
--- a/test/wallet-test.js
+++ b/test/wallet-test.js
@@ -151,7 +151,7 @@ describe('Wallet', function() {
       n: 2
     });
 
-    k = HD.generate().deriveAccount44(0).toPublic();
+    k = HD.generate().deriveBIP44(0).toPublic();
 
     await w.addSharedKey(k);