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Topic: Importing trustwallet to Electrum advisable? - page 2. (Read 269 times)

legendary
Activity: 2702
Merit: 2645
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Hello all, good morning good evening and afternoon depending on the country you are reading this post from.
I just have a little question to ask in other to help me secure my funds very well., there was a post I was reading that says using trustwallet to store funds is not that recommendable to hold but for long now I have been using trustwallet though I barely leave my funds over there ones I was paid from sig i do send out but currently I want to change my perspectives to start holding. I don't know if these questions already asked..

1) My question is, can I also use this same trustwallet and import to Electrum downloaded to my personal laptop?
2) If Yes, then is my funds secured since the key phrase were generated from trustwallet?
3) If something happened to trustwallet entirely would my imported funds to Electrum be affected, please I really need to know about all this since i am not a fan of Electrum just trying to see if i could get used to another wallet aside Trustwallet app.

Please if this question doesn't belong here kindly point out where it should be it will be a thing of joy to me moving it over there.
Thank you.
Importing the wallet on Electrum using BIP39 is already answered.

My question is, since you want to get rid of the old wallet then why would you bother to import it on Electrum? Importing it on Electrum does not mean it lost from Trustwallet. You are using the same wallet but with a different software.

It does not cost you to create a new wallet and keep the new seed safe then transfer the coins to the new wallet created with Electrum.
legendary
Activity: 3234
Merit: 2943
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It would be safer if you would create a new wallet on Electrum and sweep all keys from the trustwallet to transfer your funds because as others said above trustwallet is a closed source we can't guarantee the safety of your wallet if it was generated from a closed source wallet.

Another reason is that you can generate your wallet on Electrum offline/cold storage while sweeping the trustwallet into an online Electrum(another device with an imported public master key). You may need to use the iancoleman BIP39 tool to get the public master key.
This would be the best option to make sure your wallet is safe.
legendary
Activity: 2506
Merit: 2832
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It depends on why you believe trustwallet can't be trusted.
If you don't trust its developers or think it has bad security and a malicious person can get access to your seed/private keys, then importing your wallet from seed into Electrum or any other wallet is not going to help.
If someone knows your wallet seed, he can steal your coins. It doesn't matter which wallet you use.
The best thing to do is to create a new wallet with Electrum and send your coins to it.
legendary
Activity: 1512
Merit: 4795
1) My question is, can I also use this same trustwallet and import to Electrum downloaded to my personal laptop?
Yes. But not advisable nor recommendable because Trustwallet is a close source wallet and you do not know how the seed phrase is generated.

Advice
Send the money from Trustwallet to an address generated from the seed phrase that is generated on Electrum
Generate new wallet from Electrum. PM your campaign manager that you want to change your payment address.

2) If Yes, then is my funds secured since the key phrase were generated from trustwallet?
Online wallets are not that safe and secure. There are options that you can go for like, wallet on airgapped device, multisig wallet or 2FA wallet. Or you can buy a reputable hardware wallet.
staff
Activity: 3402
Merit: 6065
1. Yes you can do that. Make sure to select BIP39 when importing the seed.

2. Only if the devices you used to generate the wallet are.

3. Like if they were to suspend their services? Yes. Your funds will be just fine.

Keep in mind that trustwallet is a closed source wallet. There's no way to know for sure what's happening behind the scenes.
sr. member
Activity: 1316
Merit: 379
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Hello all, good morning good evening and afternoon depending on the country you are reading this post from.
I just have a little question to ask in other to help me secure my funds very well., there was a post I was reading that says using trustwallet to store funds is not that recommendable to hold but for long now I have been using trustwallet though I barely leave my funds over there ones I was paid from sig i do send out but currently I want to change my perspectives to start holding. I don't know if these questions already asked..

1) My question is, can I also use this same trustwallet and import to Electrum downloaded to my personal laptop?
2) If Yes, then is my funds secured since the key phrase were generated from trustwallet?
3) If something happened to trustwallet entirely would my imported funds to Electrum be affected, please I really need to know about all this since i am not a fan of Electrum just trying to see if i could get used to another wallet aside Trustwallet app.

Please if this question doesn't belong here kindly point out where it should be it will be a thing of joy to me moving it over there.
Thank you.
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