Topic: Electrum and Trezor? (Read 152 times)

Have never connected the both wallets neither have I have used Trezor, I can say of Electrum wallet and is the best wallet so far, since is an open source wallet.
And of course for you to perform a transfer or transaction you must pay a fee less than 1$ or more than 1$ to the next wallet.

There's a significant difference in security and protection of private keys when you compare a hardware wallet like Trezor and a hot, i.e. online, software wallet like Electrum alone.

If your computer is infected with some sophisticated malware which targets crypto wallets, a hot software wallet like Electrum is basically defenseless because a malware with sufficient rights can do anything with such a software wallet. The malware could steal your private keys or the master private key from which all other private keys are derived. No safety for your coins which are controlled by those private keys.

On the other hand, such a malware can't manipulate a hardware wallet in such ways to obtain the main secrets of your wallet. Your private keys are safe.

The malware could still manipulate the software wallet, usually only a watch-only wallet of the wallet in your hardware wallet, that talks to your hardware wallet and replace output addresses in a transaction you are about to sign. Therefore it's mandatory to always carefully check all output addresses with great care before you sign a transaction with your hardware wallet. Never ever omit this step!
Verify your destination address(es) are correct, verify the change address belongs to your own wallet and nothing elsewhere!

I would always recommend to use a hardware wallet as early as possible. While a cold wallet on an air-gapped computer is also safe if setup and used properly, it's less convenient and you need to have a spare device that never connects to the evil internet while it hosts your cold wallet.

Nothing wrong with a cold software wallet setup, but you need to understand it to keep it safe (and cold).

I agree with you, it's the best solution IMO. OP, you can connect your Trezor device to your Electrum wallet, in order to have access to the tools and features offered by Electrum while keeping your seed safely into your Trezor device. But if you don't need or want to send funds from Electrum, you can just set up a watch-only wallet on Electrum by simply entering the Master Public Key of your Trezor wallet into Electrum(select New Standard wallet > Use a master key). But the safest option IMO is to use your Trezor device with Electrum as one multisig cosigner and another device(or your computer) as a second multisig cosigner, because with a multisig wallet even SatoshiLabs will never be able to access your keys.

I would just like to add here that it doesnt have to be either or. You can use both, Trezor Suite and Electrum, with a single Trezor hardware wallet. That way you can have the best of both worlds. The Trezor hardware will keep your private keys safe, the Trezor Suite allows you to handle different coins and tokens, while your familiarity with the Electrum wallet will be an advantage for your Bitcoin holdings.

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

Okay how do I set up cold storage in my electrum wallet and can I still send BTC to a cold wallet in electrum?

No, you cannot moved bitcoin from one wallet to another without paying the fees.


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 🙏

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.

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.

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

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?