How can I convert my regular segwit wallet to 2FA type wallet

Wapfika

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Quote from: DireWolfM14 on May 06, 2023, 01:40:09 PM

Quote from: Wapfika on May 06, 2023, 10:30:10 AM

Quote from: nc50lc on May 06, 2023, 08:11:34 AM

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Thank you. Changing wallet is a bit hassle for me. I already input all my seed phrase on different devices and on my physical seed phrase back up. Is there a way to imposed a security feature on Electrum that works like authenticator? I'm thinking a scenario that my laptop might get hacked so I want to prevent hacker to brute force my wallet through the use of authenticator something like that.

Since you've used your current wallet as a hot wallet, there's really no way to make more secure than it is right now. The only thing you can do is create a more secure wallet, and keep it more secure in perpetuity. If you have regular payments to an old wallet that you don't want to change, you can monitor it until the balance is more than you care to risk, and move it to a more secure wallet. Still more hassle, but the added security is worth it.

I rarely use my wallet for sending balance. I use it to save all my funds from signature earnings and investment from my salary. I have a hardware wallet though but I only sent funds in there once I’m sure that I will not gonna spend it because it’s on my safe at my home which is away from me.

For the mean time, I only hide the application on my desktop view.

DireWolfM14

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Quote from: Wapfika on May 06, 2023, 10:30:10 AM

Quote from: nc50lc on May 06, 2023, 08:11:34 AM

~

Thank you. Changing wallet is a bit hassle for me. I already input all my seed phrase on different devices and on my physical seed phrase back up. Is there a way to imposed a security feature on Electrum that works like authenticator? I'm thinking a scenario that my laptop might get hacked so I want to prevent hacker to brute force my wallet through the use of authenticator something like that.

Since you've used your current wallet as a hot wallet, there's really no way to make more secure than it is right now. The only thing you can do is create a more secure wallet, and keep it more secure in perpetuity. If you have regular payments to an old wallet that you don't want to change, you can monitor it until the balance is more than you care to risk, and move it to a more secure wallet. Still more hassle, but the added security is worth it.

Quote from: Wapfika on May 06, 2023, 10:30:10 AM

Quote from: nc50lc on May 06, 2023, 08:11:34 AM

Take note that there's a third-party service fee for using Electrum's 2fa wallet.
It'll be automatically added as an extra output to your first transaction, then in every "N" number of transactions. (varies depending on your selection).

For more information, read TrustedCoin's FAQ (Electrum's 2fa service provider): trustedcoin.com/#/faq#fees

Yay. Hard passed on this.

The fees for Electrum's 2FA provider aren't horrible, but in my opinion the money would be better spent on a hardware wallet. Also, the same thing can be done for free with a 2 of 2 multi-sig wallet. With each wallet on a separate device, such as one on a computer, another on a phone, you get the same level of security, and added privacy. A hardware wallet would still be more secure, however.

Wapfika

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Activity: 1246

Merit: 560

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Quote from: nc50lc on May 06, 2023, 08:11:34 AM

It's not possible.
But you can just setup a new 2fa wallet and send all of your funds to that newly created wallet.

Thank you. Changing wallet is a bit hassle for me. I already input all my seed phrase on different devices and on my physical seed phrase back up. Is there a way to imposed a security feature on Electrum that works like authenticator? I'm thinking a scenario that my laptop might get hacked so I want to prevent hacker to brute force my wallet through the use of authenticator something like that.

Quote from: nc50lc on May 06, 2023, 08:11:34 AM

Take note that there's a third-party service fee for using Electrum's 2fa wallet.
It'll be automatically added as an extra output to your first transaction, then in every "N" number of transactions. (varies depending on your selection).

For more information, read TrustedCoin's FAQ (Electrum's 2fa service provider): trustedcoin.com/#/faq#fees

Yay. Hard passed on this.

Abdussamad

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You can create a new wallet via file > new/restore.

nc50lc

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It's not possible.
But you can just setup a new 2fa wallet and send all of your funds to that newly created wallet.

Take note that there's a third-party service fee for using Electrum's 2fa wallet.
It'll be automatically added as an extra output to your first transaction, then in every "N" number of transactions. (varies depending on your selection).

For more information, read TrustedCoin's FAQ (Electrum's 2fa service provider): trustedcoin.com/#/faq#fees

Wapfika

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Merit: 560

Bitcoin makes the world go 🔃

I recently import my seed phrase on my newly bought laptop. I notice that there’s an option for wallet with 2FA which I didn’t notice if this feature available before. Anyway, I try to import my wallet and choose with 2FA but it shows that my seed phrase is just a regular segwit wallet.

I’m not well versed Bitcoin technicality but is it possible to convert my regular segwit seed phrase to a 2FA type like what the typical Authenticator that we can add security to existing account.

Topic: How can I convert my regular segwit wallet to 2FA type wallet (Read 62 times)