If hardware lost can i access my crypto

dkbit98

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Quote from: udayantha11 on November 20, 2022, 08:04:01 AM

If I loose my safe pal crypto hardware wallet, from the PVT key I have, can I recover the crypto using the Trustwallt software wallet or the safe pal software wallet?

You need seed words from your safepal wallet and in theory you would be able to recover that in any other wallet that supports same BIP format and derivation paths like safepal.
I wouldn't recover anything in software hot wallets, and in case I would than I would consider this keys to be compromised.
I don't like anything about safepal, so I personally wouldn't use this wallet for storing larger amount of coins.

Charles-Tim

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Quote from: udayantha11 on November 20, 2022, 08:04:01 AM

If I loose my safe pal crypto hardware wallet, from the PVT key I have, can I recover the crypto using the Trustwallt software wallet or the safe pal software wallet?

I think it is worth it to mention that Safepal is a close source wallet.

Quote from: Lucius on November 20, 2022, 09:15:26 AM

What about derivation paths that can be different from wallet to the wallet? Theoretically, this can happen, and I know that there were cases when users tried to recover their wallet using their old seed on a new wallet, but they did not manage to get their funds. I did not check whether the OP wallet and Trust are compatible, but if we are already doing HW recovery, then the recommendation would definitely be to do it on another HW, not on a desktop or mobile wallet.

Probably the question was asked because of the connection between Binance and Safepal.

Safepal is endorsed and backed by Binance, also announced a new partnership this year. Trust wallet is owned by Binance and likely they will both support almost the same coins and tokens if not all.

But the best would be to just buy another hardware wallet and import the seed phrase which makes the seed phrase not to connect online.

RickDeckard

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To complement OmegaStarScream, if you do manage to lose your hardware wallet, SafePal Youtube channel has a video[1] showcasing how you can recover ownership of your wallet (which basically showcases the steps mentioned by OmegaStarScream). This could also be used to import your seed phrase into other hardware devices, such as a Trezor One.

Do note that Lucius brings up an important point - depending on the derivation paths used, you may or may not find your funds because the new hardware wallet (or any other) that you may end up using may use a different derivation path than the one used by SafePal. SafePal derivation paths can be seen here[2] and you can check if the wallet that you're considering supports the same derivation path by checking, for example, walletrecovery.org website[3]. To learn more about derivation paths, I always recommend checking this[4] awesome website for information regarding learning about Bitcoin.

As a final note from my side, do bear in mind that everything related to SafePal Hardware wallet is closed source [5]. I know that last year dkbit98 posted[6] a thread containing some worrying news regarding SafePal (S1), but I do not know if that issue has been solved meanwhile...

[1]https://www.youtube.com/watch?v=FL2MTIT5IH0&t=30s
[2]https://docs.safepal.io/report-a-bug/derivation-paths-supported-by-safepal-1
[3]https://walletsrecovery.org/
[4]https://learnmeabitcoin.com/technical/derivation-paths
[5]https://safepalsupport.zendesk.com/hc/en-us/articles/8822463320859-Open-Source-of-SafePal-App
[6]https://bitcointalksearch.org/topic/safepal-s1-wallet-have-serious-flaws-5317884

Lucius

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Quote from: OmegaStarScream on November 20, 2022, 08:05:09 AM

But if you have the seed phrase, then yes. You can recover your whole wallet in Trustwallet or in almost any other wallet.

What about derivation paths that can be different from wallet to the wallet? Theoretically, this can happen, and I know that there were cases when users tried to recover their wallet using their old seed on a new wallet, but they did not manage to get their funds. I did not check whether the OP wallet and Trust are compatible, but if we are already doing HW recovery, then the recommendation would definitely be to do it on another HW, not on a desktop or mobile wallet.

Let's imagine a situation in which we have been using some HW for years, it breaks down and we hurry to enter our seed in a mobile or desktop wallet, without verifying that it is a legitimate wallet - we can lose everything the moment we enter the seed in and click next.

udayantha11

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Quote from: OmegaStarScream on November 20, 2022, 08:05:09 AM

If you only have one private key, you'll only be able to recover the funds stored in the address associated with that key.

But if you have the seed phrase, then yes. You can recover your whole wallet in Trustwallet or in almost any other wallet.

Thanks for the explanation. i am very confuse about it. Normally we write the seed phrase 12 words or 24 words. so from it we can recover any any other wallet. thanks i got it

OmegaStarScream

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If you only have one private key, you'll only be able to recover the funds stored in the address associated with that key.

But if you have the seed phrase, then yes. You can recover your whole wallet in Trustwallet or in almost any other wallet.

udayantha11

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2023 would most likely be as bearish as 2022

If I loose my safe pal crypto hardware wallet, from the PVT key I have, can I recover the crypto using the Trustwallt software wallet or the safe pal software wallet?

Topic: If hardware lost can i access my crypto (Read 122 times)