Bitcoin Forum

I just wanted to just ask this 3 questions as im still kinda confused

1) so I signed up with Electrum and i put a 2fa so i just wanted to know does everyone have a mining fee and a additional fee?

2) question what if since i use 2fa and it uses google authenticator what if i lose my phone for example or get a new phone whatever but i forgot to transfer my app to the new phone not sure if it helped but i wrote down the google authenticator code down not sure what it does but does it help?

3) If i can't access electrum anymore can i see the seed on blockchain.info for example or whatever exchange if electrum isn't support which is 99.9% probably not going to happen.

Thanks im just new just want some info.

No, 2FA has nothing to do with fees at all.


This is the very reason why I NEVER use 2FA with Bitcoin or exchangers. It's just too much of a risk to be locked out if the phone gets stolen or lost.


You can't see the seed on blockchain, the seed can only be used with Electrum itself. So as long as you have that you will be able to restore your wallet even in case 2FA cannot be used. Even better if you even extract the private keys! Remember: NEVER EVER EVER save the seed or the private keys in your PC! Print them out and store them offline.

so i can use this 2fa but keep the seeds safe the 12 words correct and i can just redo the 2fa am i right or wrong?

Google 2fa is not important now, what you need now is your btc private key you got during the initial setup of your electrum wallet. The private keys is very important. 2FA can be easily replaced but the loss Bitcoin private key is not replaceable. If you really loss the code, then you also your Bitcoin money.

okay yeah i understand that but if i reopen my wallet and i make a new 2fa ? or will i be set to the same phone?

Yes you can do that. You will just have to restore your wallet via the seed and setup a new 2fa on your new phone.

Yes... with an Electrum 2FA wallet there are additional "fees" that need to paid to the 2FA service provider "TrustedCoin". They used to allow both "pre-paid" and "pay per transaction" options... but have now moved to "pre-paid" only. You need to have "credits" to be able to send transactions... and these are now pre-paid in either groups of 20 or 100 credits. If you have no credits a fee to purchase credits is automatically added to your transaction.

refer: https://api.trustedcoin.com/#/electrum-help


The answer to this question is also on the TrustedCoin Electrum 2FA FAQ Page: https://api.trustedcoin.com/#/electrum-help

Basically, you restore from seed and either disable 2FA altogether, or you can enable the Google Authenticator on a new device.


No, Electrum seeds are not compatible with any other wallets as far as I know, as they are NOT BIP39 compatible. Additionally, Electrum 2FA seeds will definitely not be able to be imported into other applications, as they generate a special MultiSig wallet using TrustedCoin.