Need help regarding Blockchain.com wallet - page 2.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: Botnake on December 02, 2024, 06:50:18 AM

Are you planning to sell your Bitcoin? If so, then just follow their advice, which is to move it to a DeFi wallet. But I suggest you only transfer a small amount initially, just to test if the transaction goes through successfully. Once you confirm that the process works, that’s the time to transfer your full balance and send it to whichever exchange you prefer for selling your Bitcoins.

No.. I am not planning to sell the coins anytime soon. They are for my retirement fund. But I am quite worried that I may lose access to the coins.

Botnake

hero member

Activity: 2856

Merit: 667

Are you planning to sell your Bitcoin? If so, then just follow their advice, which is to move it to a DeFi wallet. But I suggest you only transfer a small amount initially, just to test if the transaction goes through successfully. Once you confirm that the process works, that’s the time to transfer your full balance and send it to whichever exchange you prefer for selling your Bitcoins.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

It's normal.

Blockchain.com switched to the HD wallet in 2013 if I'm not mistaken, so your original wallet was never backed by a seedphrase. Now that it is, they cannot just import it for you since its not a custodial service.

Now, which one is safer? I wouldn't say there is much difference between the two here. Both are now accessible through the web interface. One is derived from a seedphrase, the other one is just an individual address with a private key.

If it's an significant amount, and given that we're in the bullrun, it's probably safer to just invest in a hardware wallet. You could grab one with a good price with the current Black Friday/Cyber monday deals.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

You may find it strange that after being active for almost 13 years, I am still requesting help regarding crypto wallet. But I badly need some advice at the moment.

I created a wallet in Blockchain.com back in 2012. Ever since that date, I have kept my coins on that wallet. But in recent times Blockchain guys are making a lot of updates to their wallet, which is making it difficult for me to use their wallet.

I logged in to their wallet today and found that none of the funds are showing. I panicked and then emailed their support. However, after some time I found that the coins are safe. They have just been moved to the "imported wallets" section. But there is a warning message saying that this particular wallet is not backed up by recovery phrase and therefore I should move my coins to "DeFi wallet".

What should I do now? Should I move the coins to their DeFi wallet? They are terming the old wallet as "private key wallet". I have the private key for this wallet with me. Should I just keep my coins in the old wallet? Which one is safer?

Topic: Need help regarding Blockchain.com wallet - page 2. (Read 219 times)