Changing wallet type from standard to multisig or 2fa

Abdussamad

legendary

Activity: 3724

Merit: 1586

Quote from: LandmineLt on August 27, 2015, 10:24:36 AM

or would I need to create 2 new multisig wallets and then transfer the BTC from my standard wallet to multisig wallet?

^ This.

Quote

I assume you are able to transfer funds between different wallet types correct?

It'll be an on-chain transfer like any other bitcoin transaction. There is no internal electrum-2-electrum transfer if that's what you are thinking.

RustyNomad

sr. member

Activity: 336

Merit: 251

I'm speaking under correction but from what I know you will have to create a new wallet.

One obvious point of switching to a multi-signature wallet is that all your addresses change to multi-signature addresses starting with a number 3. So if you want to go with multi-signature you will have to create a new wallet. No way you can use your old addresses in a multi-signature wallet.

LandmineLt

newbie

Activity: 1

Merit: 0

I have a question, I am new to Electrum and currently posses some BTC in my newly created standard Electrum wallet. I would like to enhance the security by utilizing multisig or 2FA before sending this BTC to a marketplace wallet. Am I able to 'upgrade' my regular standard wallet to a multisig or 2fa wallet? or would I need to create 2 new multisig wallets and then transfer the BTC from my standard wallet to multisig wallet? I assume you are able to transfer funds between different wallet types correct?

Topic: Changing wallet type from standard to multisig or 2fa (Read 1446 times)