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Topic: Need help with Electrum (Read 780 times)

copper member
Activity: 2996
Merit: 2374
April 20, 2015, 12:48:53 AM
#2
You can have multiple electrum wallets open on the same computer at the same time.

The fact that you are using a tumbler does not make any difference. It might as well be any other service that you request withdrawals to a specific address of your choice.

If you are wanting to create a cold wallet using electrum then you will first want to securely install electrum onto a "cold" machine. Once you do this, you create a wallet (and backup your seed). Once you do this, you will need to export your public master key onto your "hot" computer. You import your public master key from your cold machine into electrum and you will have a "watch only" wallet with the addresses that your cold storage controls.

Sending funds to either "wallet 1", "Wallet 2" or "cold storage 1" would be as easy as copying the address you want to send to from your various wallets and telling whatever service you want to send funds to that address.

Quote
If the laptop with the coldstorage were to burn in a fire, or walk off, is the BTC recoverable by downloading a copy of electrum and using the seed or is it gone at that point?
If the laptop that was acting as your cold storage were to "walk off" and you did not use FDE and/or a strong password on your cold storage wallet then there would be a good chance that your bitcoin would be gone because the attacker would have likely stolen the bitcoin stored on your cold machine. Other then that you would be able to recover the private keys using the seed.
newbie
Activity: 31
Merit: 0
April 19, 2015, 01:43:38 AM
#1
Hopefully this isn't super redundant but I need a bit of help trying to setup Electrum as follows.

I would like to have cold storage on a Laptop that doesn't touch the internet.

I would like 2 wallets on the online Laptop.  Lets say wallet 1 and wallet 2.

I want to be able to accept payments to wallet 1. From wallet 1 to a tumbler, from tumbler to wallet 2, and send xx btc to the cold wallet while keeping some in wallet 2 in which I can use to sell on localbtc, or spend freely.  Is this doable?   Basically I want my cold storage to act as my main BTC storage, but still have some liquidity with a small amount of BTC to spend, or trade.

Is there anyway to send direct from the tumbler to the cold wallet?

If the laptop with the coldstorage were to burn in a fire, or walk off, is the BTC recoverable by downloading a copy of electrum and using the seed or is it gone at that point?

Thanks for any help.  IF there is an easier way to accomplish this, with a different wallet other than Electrum I am all ears.

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