Wallet fee. | Bitcointalksearch.org

nc50lc

legendary

Activity: 2618

Merit: 6452

Self-proclaimed Genius

Quote from: jrrsparkles on November 19, 2021, 07:21:55 AM

-snip-
Many recommended not to do this because it completely voids the security and purpose of having a hardware wallet so its better to sweep to hardware wallet than importing the private keys.

You cannot import private keys to a hardware wallet (or at least with Trezor and Ledger).
So you actually don't have a choice but to sweep, maybe that's why "many recommended" it than import.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: OmegaStarScream on November 19, 2021, 04:03:08 AM

Exodus is the one I would recommend the most but I would suggest you use it with a Trezor wallet and not its own.

This ks probably because Exodus is not an open-source wallet if I am not wrong but its still completely safe when we import private keys to hardware wallet? Many recommended not to do this because it completely voids the security and purpose of having a hardware wallet so its better to sweep to hardware wallet than importing the private keys.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Quote from: hack3rcon on November 16, 2021, 01:09:31 AM

Hello,
Thank you for your reply.
So, if I import my seed phrase to another wallet, then I can use the new wallet features? For example, the Trust Wallet doesn't support a coin swapping, but another wallet can. I want to import the Trust Wallet seed phrase to another wallet, then swap my coin and back to the Trust Wallet again.

hosseinimr has already answered the question perfectly.

Just want to add, in my previous post, I said that only Thorswap supports multi-chain swapping which is true, however, there are a few other wallets with built-in instant exchanges (centralized) which I believe is what you're looking for here. To name a few: Exodus, Coinomi, and Atomicwallet.

Exodus is the one I would recommend the most but I would suggest you use it with a Trezor wallet and not its own.

hosseinimr93

legendary

Activity: 2380

Merit: 5213

Quote from: hack3rcon on November 16, 2021, 01:09:31 AM

So, if I import my seed phrase to another wallet, then I can use the new wallet features? For example, the Trust Wallet doesn't support a coin swapping, but another wallet can. I want to import the Trust Wallet seed phrase to another wallet, then swap my coin and back to the Trust Wallet again.

If the new wallet supports that coin/token and uses the same derivation path as trustwallet, yes. Your fund will appear in the new wallet.
As stated by Bitcoin_Arena, most wallet use the same derivation path and that shouldn't be a problem. But there's chance the derivation path is different.

Also note that it's not recommended to use a same seed phrase in two different wallets. It may decrease your security. I suggest you to make a new wallet (with a new seed phrase) and move all your fund to that after you swapped your coins.

hack3rcon

member

Activity: 370

Merit: 10

Quote from: OmegaStarScream on November 15, 2021, 03:45:57 AM

If you sweep the private keys, yes, because you will basically be sending the funds from one address to another. But if you just import the PKs or use the seed on another wallet, then no, you won't need to pay for any fees.

Hello,
Thank you for your reply.
So, if I import my seed phrase to another wallet, then I can use the new wallet features? For example, the Trust Wallet doesn't support a coin swapping, but another wallet can. I want to import the Trust Wallet seed phrase to another wallet, then swap my coin and back to the Trust Wallet again.

Bitcoin_Arena

copper member

Activity: 2128

Merit: 1814

฿itcoin for all, All for ฿itcoin.

Quote from: hack3rcon on November 15, 2021, 08:55:09 AM

Thank you so much for all replies.
In the Trust Wallet, I can't Swap the Litecoin or Tron to other coins. I need a wallet that supports it.
Any idea?

Try looking into exchanges. Wallets are not primarily built for trading unless if you are just swapping a coin once in a while

Quote from: hosseinimr93 on November 15, 2021, 05:56:57 PM

As far as I know, trustwallet doesn't allow you to export individual private keys. (Someone correct me if I'm wrong, please)

This is true. OP would probably have to use a downloaded offline of version of Iancoleman Mnemonic Code Converter (https://iancoleman.io/bip39) in order to get private keys of a particular coin address.

Quote from: hack3rcon on November 15, 2021, 08:55:09 AM

Given the different derivation paths used by different wallets, there is no guarantee that the seed phrase given by trustwallet will give you the same addresses for all coins/tokens in a different wallet and you may have to make a transaction and pay the network fee.

I imported a trustwallet generated seed into coinomi sometime back and from the main addresses I checked, only the Bitcoin address seemed to differ from the one in trust wallet probably due to the derivation path but yeah, there is no guarantee that address will be the same.

hosseinimr93

legendary

Activity: 2380

Merit: 5213

As far as I know, trustwallet doesn't allow you to export individual private keys. (Someone correct me if I'm wrong, please)
For exporting your wallet from trustwallet, you must use your seed phrase.
Given the different derivation paths used by different wallets, there is no guarantee that the seed phrase given by trustwallet will give you same addresses for all coins/tokens in a different wallet and you may have to make a transaction and pay the network fee.

Stalker22

legendary

Activity: 1526

Merit: 1359

Quote from: hack3rcon on November 15, 2021, 08:55:09 AM

Thank you so much for all replies.
In the Trust Wallet, I can't Swap the Litecoin or Tron to other coins. I need a wallet that supports it.
Any idea?

I agree with OmegaStarScream's suggestion. Litecoin has a pretty low transaction fee, Tron too. As a rule, it's better to use some centralized exchange instead of swapping coins through your wallet, since this usually requires third-party services and incurs a fee.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Quote from: hack3rcon on November 15, 2021, 08:55:09 AM

Thank you so much for all replies.
In the Trust Wallet, I can't Swap the Litecoin or Tron to other coins. I need a wallet that supports it.
Any idea?

You can't swap BTC either because swaps happen on the same chain, so you'll only be able to trade ERC-20 and BEP-20 tokens. The only cross-chain protocol that I know of is Thorchain/Thorswap but it's far from being perfect and there are many unsupported coins.

I would suggest just using an exchange like OKEX, Kucoin, or Binance. Send the funds from TrustWallet to the exchange, trade to whatever coin you wish to, and then withdraw back to your personal wallet as it's not recommended to store funds in exchanges.

hack3rcon

member

Activity: 370

Merit: 10

Thank you so much for all replies.
In the Trust Wallet, I can't Swap the Litecoin or Tron to other coins. I need a wallet that supports it.
Any idea?

witcher_sense

legendary

Activity: 2464

Merit: 4415

🔐BitcoinMessage.Tools🔑

Quote from: hack3rcon on November 15, 2021, 03:28:45 AM

Hello,
If I enter my Trust Wallet private keys to another decentralized wallet, then it need cost to display my coins or tokens in another wallet?

Thank you.

You don't need to transfer your private keys one by one in order to restore them in the other wallet. You can simply take the recovery words you were given upon the first installation and enter them into any BIP39 compatible wallet. In case you forgot to write down your words, you can still access them directly in your existing Trust Wallet. Go to Settings>Wallets and you will see your current wallet. Click on three dots on the right and then "Show recovery phrase." Write these words down on a piece of paper and never show them to anyone.

Here is a guide on how to restore your Trust Wallet https://community.trustwallet.com/t/how-to-restore-a-multi-coin-wallet/43

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: hack3rcon on November 15, 2021, 03:28:45 AM

Hello,
If I enter my Trust Wallet private keys to another decentralized wallet, then it need cost to display my coins or tokens in another wallet?

Thank you.

No not really. If you do this, you just need to add those tokens smart contract address depend on the network you are using. Yes you heard me right, no payment for that. The wallet served as a vessel only for your private key, you can transfer that anytime to any supported wallet that is available out there. Except for the centralized exchanges those are just deposit address and you can't import the wallets details there.

ABCbits

legendary

Activity: 2870

Merit: 7490

Crypto Swap Exchange

Quote from: hack3rcon on November 15, 2021, 03:28:45 AM

If I enter my Trust Wallet private keys to another decentralized wallet

Take note people usually refer it (what i bolded) as "non-custodial wallet".

Quote from: mocacinno on November 15, 2021, 04:10:07 AM

When you export your private key, said key is stored in your memory in an unencrypted way... And when you have a private key in 2 wallets, the attack vectors are twice as big...

While it's true, such risk could be avoided if you simply send your coin to address generated by different wallet.

mocacinno

legendary

Activity: 3612

Merit: 5297

https://merel.mobi => buy facemasks with BTC/LTC

There's just one extra remark i'd like to give: it might not always be a wise idear to start exporting/importing private keys (or seeds) between wallets.

I've never used trust wallet, but i'm willing to make an educated guess that the wallet file from trust wallet is encrypted... This means that if your environment is compromised, the hacker probably can't access your master private key anyways.

When you export your private key, said key is stored in your memory in an unencrypted way... And when you have a private key in 2 wallets, the attack vectors are twice as big...

Jawhead999

legendary

Activity: 1862

Merit: 1209

In addition what @OmegaStarScream mentioned above, if your private key doesn't compromised or leaked there's no reason you need to sweep the private keys since it only cost you to pay some fees. Instead you can just import the private keys and don't need to wait the coins arrived to your new wallet.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

If you sweep the private keys, yes, because you will basically be sending the funds from one address to another. But if you just import the PKs or use the seed on another wallet, then no, you won't need to pay for any fees.

hack3rcon

member

Activity: 370

Merit: 10

Hello,
If I enter my Trust Wallet private keys to another decentralized wallet, then it need cost to display my coins or tokens in another wallet?

Thank you.

Topic: Wallet fee. (Read 225 times)