How to transfer btc from one Electrum wallet to another

HCP

legendary

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Quote from: pinkpajama99 on November 24, 2017, 08:13:36 PM

@HCP how do you get all money from the first btc wallet if you have to pay fees. I'm baffled at satoshis and can never figure out how to get the exact amount. I imagine if theres any money in there it messes things up so I do I get say $120 out with fees so the wallet is empty?

In Electrum, goto the "Send" tab, enter the address you want to send to and then simply click the "max" button... After this, adjust the fee to your desired "fee" amount. When have clicked the "max" button... the amount that you're sending will automatically be adjusted when you adjust the fee amount.

This should theoretically enable you to send a single transaction that will empty your wallet.

pinkpajama99

jr. member

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@HCP how do you get all money from the first btc wallet if you have to pay fees. I'm baffled at satoshis and can never figure out how to get the exact amount. I imagine if theres any money in there it messes things up so I do I get say $120 out with fees so the wallet is empty?

HCP

legendary

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Quote from: jerry0 on November 18, 2017, 07:59:37 PM

Well i figure i need a place to hold my bitcoin in case something happens to my electrum. What is rbf?

"Replace-By-Fee"... it is a system that lets you increase the fee on a transaction after it has been sent... useful if you send with a fee that is too low and your transaction doesn't confirm for a while.

Quote

Okay so when i create a new wallet with new seed with electrum, aren't i still going to have to pay a transaction fee though to get my btc to that new one like with blockchain?

Yes... but Old Electrum -> New Electrum = Transaction fee... whereas Old Electrum -> B.info -> New Electrum = TWO transaction fee's Tongue

Quote

Yes i heard you can have multiple wallets on electrum but i never tried this. So if anything happens with the old wallet, then there is no issue because the btc would be moved to the new electrum wallet right?

Yes... the whole point is to move the BTC onto new private keys that are completely separate from the current ones... so if the current ones are compromised (seed or wallet+password is leaked by putting seed/private keys into fake wallet software or whatever etc), then your BTC is nice and safe because it is already sitting on a new wallet with different private keys/seed

jerry0

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Well i figure i need a place to hold my bitcoin in case something happens to my electrum. What is rbf?

Okay so when i create a new wallet with new seed with electrum, aren't i still going to have to pay a transaction fee though to get my btc to that new one like with blockchain? Yes i heard you can have multiple wallets on electrum but i never tried this. So if anything happens with the old wallet, then there is no issue because the btc would be moved to the new electrum wallet right?

HCP

legendary

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Merit: 4314

Quote from: jerry0 on November 18, 2017, 06:08:04 PM

Yes i meant sending coins to blockchain temporarily. Then download electron cash. Put the 12 word phrase on electron cash... claim bitcoin cash. But after this step, should i immediately sell it on bittrex for bitcoin or usd or another coin? Then once i do that, i have btc or usd or another coin on bittrex. Then i create a new electrum address where it has a new 12 word phrase. Then i send the btc from blockchain to that address. Then i send the btc from bittrex to the new electrum address. If i do it this way, is it 100 percent safe since i no longer would be using the old electrum with the 12 word phrase?

Why would you send it to a b.info wallet first? You're just going to end up with an extra transaction, which means ANOTHER fee + probability that b.info screws up your transaction with a stupid low fee and it gets stuck Tongue

Additionally, I don't think b.info allows for RBF? But that may have changed since I last used it.

If you're going to end up using Electrum anyway, why not just create the "new" wallet with new seed... then send your BTC straight there? Huh

You realise you can have multiple wallets with Electrum at the same time right? You can even have them open at the same time Wink

As for selling or hodling your BCH... well, that's up to you... if you think BCH is going to drop, probably better to sell... it you think it is going to rise, maybe hodl... if you think it's going to hold steady at current values, then you don't have to do anything Tongue

What it is actually going to do? well... no-one really knows... it's basically just a guessing game Tongue

jerry0

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Hi thanks for your response.

Yes i meant sending coins to blockchain temporarily. Then download electron cash. Put the 12 word phrase on electron cash... claim bitcoin cash. But after this step, should i immediately sell it on bittrex for bitcoin or usd or another coin? Then once i do that, i have btc or usd or another coin on bittrex. Then i create a new electrum address where it has a new 12 word phrase. Then i send the btc from blockchain to that address. Then i send the btc from bittrex to the new electrum address. If i do it this way, is it 100 percent safe since i no longer would be using the old electrum with the 12 word phrase?

By the way where are you located from that you use bittrex? And do you use bittrex a lot such as daytrading? Or you only use it very little such as claiming your bitcoin cash and probably just buy and sell very little? I have not used bittrex yet but i did create an account.

TryNinja

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Quote from: jerry0 on November 18, 2017, 05:39:48 PM

Hi there thanks for the response. Do you have any plans to buy anymore bitcoin cash or not?

No.

Quote from: jerry0 on November 18, 2017, 05:39:48 PM

Also im curious but for your electrum wallet where you use bitcoin, do you use the same address for all your transactions? Or do you only use one once and then use another etc?

I have a staked address that I use publicly to receive my signature campaign payments and other payments, and a HD cold-storage wallet (multiple addresses derived from a seed) where I keep most of my holdings safe;

Quote from: jerry0 on November 18, 2017, 05:42:38 PM

What would the safest way to do this on the same computer? First send all the btc to a different electrum wallet address? And by that, i mean a new address where it has a new 12 word phrase etc? Then send all the btc there? Then download eletroncash, put the old electrum 12 word phrase there... then claim the bitcoin cash. Then sell it on bittrex for bitcoin or usd or any other coin... and then use the new electrum address from here on out and make sure to write that new 12 word phrase down?

Yes. That's exactly what I recommend you to do.

Quote from: jerry0 on November 18, 2017, 05:42:38 PM

The other thing i thought would be sending all the btc to blockchain and then just creating a new electrum address with a new 12 word phrase after claiming the bitcoin cash. Thoughts on this?

Do you mean sending your coins to a Blockchain wallet temporarily, claiming your BCH and then move your coins from the Blockchain wallet o a new Electrum wallet? You can do that aswell.

Quote from: jerry0 on November 18, 2017, 05:42:38 PM

Also how much are the fees to send btc now? I recalled back then it was very cheap, then it cost a few dollars... is it a lot more now?

I suggest you to always check https://blockchain.info/unconfirmed-transactions and see if the Bitcoin network is congested. Right now, there are ~40k unconfirmed transactions, so you can easily choose a low fee (20~80 sat/byte) and use a transaction accelerator such as Antpool's free accelerator[1] for faster confirmation. I do that all the time and I always see my transaction getting confirmed in the same day.

[1] https://www.antpool.com/user/prioritiseTransaction.htm?m=savePrioritiseTx

jerry0

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What would the safest way to do this on the same computer? First send all the btc to a different electrum wallet address? And by that, i mean a new address where it has a new 12 word phrase etc? Then send all the btc there? Then download eletroncash, put the old electrum 12 word phrase there... then claim the bitcoin cash. Then sell it on bittrex for bitcoin or usd or any other coin... and then use the new electrum address from here on out and make sure to write that new 12 word phrase down?

The other thing i thought would be sending all the btc to blockchain and then just creating a new electrum address with a new 12 word phrase after claiming the bitcoin cash. Thoughts on this?

Also how much are the fees to send btc now? I recalled back then it was very cheap, then it cost a few dollars... is it a lot more now?

jerry0

full member

Activity: 1736

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Hi there thanks for the response. Do you have any plans to buy anymore bitcoin cash or not?

Also im curious but for your electrum wallet where you use bitcoin, do you use the same address for all your transactions? Or do you only use one once and then use another etc?

And has anyone here besides tryninja did this on the same computer? Because i do not have another computer and i do want to claim my bitcoin cash but haven't done so.

TryNinja

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Quote from: jerry0 on November 17, 2017, 08:09:59 PM

Hi there so just to make sure of this, once you did this, you got bch on your electron cash. You then sent that bch to bittrex. Did you then delete electron cash from your computer or you still have it there? Did you sold all your bch for usd or something else on bittrex?

After sending my BCH to Bittrex, I sold it all for Bitcoin and moved them to the same address where I took the BCH from. And yes, I kept Electron Cash (still have it installed).

Quote from: jerry0 on November 17, 2017, 08:09:59 PM

So basically you did every step as the steps mentioned except you did all this on the same computer etc? How many other people have done this? I would have thought you would at least moved from bitcoin to another address on electrum before you downloaded electron cash on your computer.

As I said in a previous post, it's not mandatory. Bitcoin Cash has replay protection and I trust Electron Cash to not steal my coins. Of course, if you want to be 10000% safe, there is no problems on moving your Bitcoins to a different wallet before importing your old wallet in Electron Cash.

HCP

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I forget if I moved my BTC first... I think I sent it to a hardware wallet first... then I just copied the Electrum wallet over to ElectronCash and sent the BCH to my hardware wallet. Copying the wallet file is maybe a little safer than typing your seed in... it avoids keyloggers capturing your wallet seed.

I did something simliar with Bitcoin Core and Bitcoin ABC... Transferred BTC first, then loaded wallet up in ABC and transferred BCH out.

It was all done on the same computer.

jerry0

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Hi there so just to make sure of this, once you did this, you got bch on your electron cash. You then sent that bch to bittrex. Did you then delete electron cash from your computer or you still have it there? Did you sold all your bch for usd or something else on bittrex?

So basically you did every step as the steps mentioned except you did all this on the same computer etc? How many other people have done this? I would have thought you would at least moved from bitcoin to another address on electrum before you downloaded electron cash on your computer.

TryNinja

legendary

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Quote from: jerry0 on November 17, 2017, 05:14:34 PM

So you claimed your bitcoin cash on the same computer?

Yes.

Quote from: jerry0 on November 17, 2017, 05:14:34 PM

Did you move your btc from your original electrum wallet to a different electrum wallet before you did this?

No. I just imported my Electrum wallet in Electron Cash and sent my BCH to Bittrex. I've been using the same address to receive/send Bitcoins since then.

jerry0

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Quote from: TryNinja on September 11, 2017, 03:02:47 PM

It's not mandatory. I myself did everything in the same computer and didn't lose anything. Some people don't trust the Electron Cash, so they prefer to use a device isolated from their private keys. If you are too paranoid, you can use a different PC or at least use a Virtual Machine.

And yes, it's better if you split your coins between two addresses, one with BCH and another with BTC.

So you claimed your bitcoin cash on the same computer? Did you move your btc from your original electrum wallet to a different electrum wallet before you did this?

I haven't read much people who did this on the same computer.

vladman

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Thank you all.

HCP

legendary

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If you are moving Bitcoin from one address to another, it can only be achieved using an "on-chain" transaction... And therefore will require a transaction fee.

You can of course "import" private keys, to get access to coins from a different wallet, but this does not move them.

vladman

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Quote from: TryNinja on November 12, 2017, 12:10:12 PM

It's a normal on-chain transaction after all, so it requires a fee.

Thank you! I've been wondering about this for a while, is there any way of avoiding transfer fees, when doing stuff like this, and effectively moving your own coins between different (or even the same, as in this case, Electrum-to-Electrum) wallets?

TryNinja

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Quote from: vladman on November 12, 2017, 10:17:50 AM

Quote from: HCP on September 12, 2017, 01:21:23 AM

In Electrum:

6. From your "old" BTC wallet, send all your BTC to the receive address from the new wallet.

Hi, sorry to revive this slightly old topic, just regarding step 6. is this transfer fee-free?

Many thanks!

It's a normal on-chain transaction after all, so it requires a fee.

vladman

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Activity: 71

Merit: 11

Quote from: HCP on September 12, 2017, 01:21:23 AM

In Electrum:

6. From your "old" BTC wallet, send all your BTC to the receive address from the new wallet.

Hi, sorry to revive this slightly old topic, just regarding step 6. is this transfer fee-free?

Many thanks!

HCP

legendary

Activity: 2086

Merit: 4314

In Electrum:

1. Make sure you have the "old" seed for the wallet that contained your BTC on Aug 1st when the fork happened. (Wallet -> Seed), you need this later.
2. Select "File -> New/Restore -> Standard Wallet -> give the wallet a new/different name -> Create a new seed".
3. Write this seed down, it is going to be your NEW BTC wallet <-- VERY IMPORTANT!
4. Finish the seed confirmation process and wait for Electrum to finish creating your new wallet.
5. Get a "receive" address from this new wallet.
6. From your "old" BTC wallet, send all your BTC to the receive address from the new wallet.
7. Once you have confirmed all your BTC has been safely transferred to the new wallet, you can move onto getting the BCH

Getting BCH in ElectronCash:

8. Install ElectronCash from here: www.electroncash.org
9. Create a new wallet in ElectronCash using your OLD Electrum seed from Step #1 above. "Standard Wallet -> I already have a seed". You should see your "old" BTC addresses but with BCH balance.
10. Do whatever you want with your BCH, send it to an exchange, keep it, sell it, send it to me etc Tongue

Topic: How to transfer btc from one Electrum wallet to another (Read 2258 times)