open dime | Bitcointalksearch.org

OmegaStarScream

staff

Activity: 3472

Merit: 6129

Quote from: rich1616 on January 22, 2020, 10:38:37 AM

Thank so much for helpful answers to all replies.

Thanks for the link link from [ bitmaxz ] to set up electrum wallet. So ,if this is also helpful to others ,it seems to me that SAMOURAI wallet is good for moving/using small amounts of bitcoin/crypto but ELECTRUM is the best/most secure way for larger amounts . thanks again .

That's only valid if you're using Electrum with your Nano S device. If you're not, then it really doesn't make that much difference.

rich1616

jr. member

Activity: 50

Merit: 2

Thank so much for helpful answers to all replies.

Thanks for the link link from [ bitmaxz ] to set up electrum wallet. So ,if this is also helpful to others ,it seems to me that SAMOURAI wallet is good for moving/using small amounts of bitcoin/crypto but ELECTRUM is the best/most secure way for larger amounts . thanks again .

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: rich1616 on January 21, 2020, 04:30:55 PM

Its just that my other open dimes are fairly large amounts of bitcoin ,so it makes me nervous to trust .....any thoughts/suggestions appreciated....

I would advise against an Opendime device for storing large amounts or for long term storage. You cannot securely back up the private keys. In the case of device malfunction, you will lose everything.

Even on their FAQ page, they recommend against it:

Quote

For long term HODL/Storage and large amounts we recommend COLDCARD Hardware Wallet a ultra-secure Bitcoin wallet also made by us.

BitMaxz

legendary

Activity: 3248

Merit: 2971

Block halving is coming.

Better use Electrum wallet than Samourai wallet because it's compatible with Ledger nano s just import the ledger nano wallet to Electrum and then you can sweep your opendime private key to Electrum with the Ledger nano.
You can follow the guide how to use Electrum with your Ledger nano from here Set up and use Electrum
Once you generated a wallet from Electrum with Ledger nano you can sweep your opendime private key to Electrum. This is the best and safe if you have a big amount of BTC from your opendime.

Or you can import your private key from opendime to Electrum and send Bitcoin manually to your Ledger nano address but for safety I recommend to sweep them directly to your ledger nano with Electrum as suggested above.

coupable

hero member

Activity: 2338

Merit: 757

Open dime are like using a currency bill, function as an asset with a determined value . This is what i think it is as i don't have one yet

Correct me if am wrong .
You can sweep the PK from the open dime to another client. I don't honestly know if this possible with hardware wallets [I guess so] but i know that you can sweep the PK to electrum wallet or even blockchain.com wallet {not recommended} .
There isn't so much details about open dime use in this forum but i think this thread can help you a lot : https://bitcointalksearch.org/topic/open-dime-2762390

rich1616

jr. member

Activity: 50

Merit: 2

Hi all. Can bitcoin NOT be sent directly form an open dime ?I think not,but just double checking .I need to send it to my nano s .I have already sent some bitcoin from another open dime to nano s using SAMOURAI wallet ,which arrived ok . Its just that my other open dimes are fairly large amounts of bitcoin ,so it makes me nervous to trust .....any thoughts/suggestions appreciated....

Topic: open dime (Read 174 times)