Topic: Electrum and Trezor? (Read 57 times)
Okay thank you I will go through each and every one of those links Happy Thanksgiving
Let me make this clearer for you.
Electrum is an online wallet. But you can use it as a cold wallet. You can read this about it here: https://electrum.readthedocs.io/en/latest/coldstorage.html. You will need a computer that you can make as airgapped and not let it connect online.
You can use Electrum with Trezor. Read this about it here: https://trezor.io/learn/a/electrum-and-trezor?srsltid=AfmBOook-IWj0Rmg3Hx38nSwgIRAtDtCAUrnv5R9z9U4OmcgrdiZFe69.
You can also use Trezor with Trezor Suite. This can be gone for for some altcoins that it supports me. You can read about it here: https://trezor.io/learn/c/set-up-your-trezor?srsltid=AfmBOoqXyiL0mBedGkOA0DffZRDDRggZbg3nCQt-Ue8-i9qjhfhiFHZd
Electrum is an online wallet. But you can use it as a cold wallet. You can read this about it here: https://electrum.readthedocs.io/en/latest/coldstorage.html. You will need a computer that you can make as airgapped and not let it connect online.
You can use Electrum with Trezor. Read this about it here: https://trezor.io/learn/a/electrum-and-trezor?srsltid=AfmBOook-IWj0Rmg3Hx38nSwgIRAtDtCAUrnv5R9z9U4OmcgrdiZFe69.
You can also use Trezor with Trezor Suite. This can be gone for for some altcoins that it supports me. You can read about it here: https://trezor.io/learn/c/set-up-your-trezor?srsltid=AfmBOoqXyiL0mBedGkOA0DffZRDDRggZbg3nCQt-Ue8-i9qjhfhiFHZd
Okay how do I set up cold storage in my electrum wallet and can I still send BTC to a cold wallet in electrum?
Is it possible to move my crypto from electrum to Trezor without sending it through the network and paying fees?
No, you cannot moved bitcoin from one wallet to another without paying the fees.
Thank you for your reply so would you recommend keeping my crypto in the electrum wallet or sending it to the trezor? which is more secure electrum or trezor and do I have to pay transaction fees to move my crypto from electrum to the trezor?
The security of a wallet is dependent on how you use it, Trezor wallet is a cold wallet where the keys are not exposed, whereas electrum wallet can serve as both cold wallet and a hot wallet depending on how you set it up. Electrum wallet on airgapped is used as a cold wallet if the set up is done right. So for me if you lack the knowledge to actually set the wallet up or do not have a device to use for the airgap set then stick to Trezor.
Okay thank you so it sounds like connecting the electrum wallet to the trezor would not make my bitcoins more secure in electrum just give me options for other coins I appreciate your reply 🙏
Thank you for your reply so would you recommend keeping my crypto in the electrum wallet or sending it to the trezor?
For me here it depends on the type of person you are. Some people tends to be very active online and are prone to getting cyber attacks, these attacks can put your online wallet at risk. If this is your case then I think you should go with cold storage because you would be more secured from online attacks.Quote
Is it possible to move my crypto from electrum to Trezor without sending it through the network and paying fees?
In between you could have just put this question in your original post. There is an edit option you can make use of if you had forgotten to add the question initially.
What's the advantages and disadvantages of using a Trezor with my electrum wallet and can I transfer my electrum wallet to trezor?
You are not going to transfer anything if you connect your Trezor device with Electrum wallet, this is just giving you interface to sign transactions and receive coins.If you are using Trezor Suite app with Trezor device than you can use all other supported coins, while for Electrum you can only manage Bitcoin.
This can be advantage to some people, and disadvantage for others, but code for both of them is open source.
You can also run Trezor in Bitcoin-only mode, to reduce risks, if you only need it for Bitcoin.
Thank you for your reply so would you recommend keeping my crypto in the electrum wallet or sending it to the trezor? which is more secure electrum or trezor and do I have to pay transaction fees to move my crypto from electrum to the trezor?
Electrum is one of the best bitcoin wallet. It has the functions that a wallet should have. Using it with Trezor will be good. To connect the wallet with Trezor is safe and secure than an online online like using online Electrum
Bitcoin is stored on blockchain and your bitcoin can be accessed by your private key or your seed phrase. The seed phrase can generate the private keys which can be used to access your coins.
You can use Electrum or Bluewallet to recover it and send it to one of the addresses Trezor generated.
can I transfer my electrum wallet to trezor?
That you generated on Electrum without Trezor? No, because Electrum is not using BIP39 seed phrase. It is not also good to import from online wallet to cold wallet.Bitcoin is stored on blockchain and your bitcoin can be accessed by your private key or your seed phrase. The seed phrase can generate the private keys which can be used to access your coins.
You can use Electrum or Bluewallet to recover it and send it to one of the addresses Trezor generated.
Is it possible to move my crypto from electrum to Trezor without sending it through the network and paying fees?
What's the advantages and disadvantages of using a Trezor with my electrum wallet and can I transfer my electrum wallet to trezor?
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