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Title: Sweeping private key Post by: PaulSasquatch on December 29, 2017, 04:54:15 PM Hi,
I want to sweep my private key from my wallet to a different wallet. Is it recommended to move those coins first to a different address within my wallet or a 3rd wallet/exchange before the sweep? Or is this not necessary?(fees) What is the usual procedure here? Title: Re: Sweeping private key Post by: TryNinja on December 29, 2017, 05:11:56 PM Just sweep them directly to your new address (from the new wallet). There is no need to use an intermediary as this is totally unnecessary and too much expensive due to the high fees you will need to pay for each transaction.
Old wallet -> New Wallet (1 transaction, 1 fee) Old wallet -> Exchange -> New Wallet (2 transactions, 2 fees) Title: Re: Sweeping private key Post by: PaulSasquatch on December 29, 2017, 05:44:03 PM Thanks bro I will do that
Title: Re: Sweeping private key Post by: bob123 on December 29, 2017, 06:36:07 PM I want to sweep my private key from my wallet to a different wallet. Is it recommended to move those coins first to a different address within my wallet or a 3rd wallet/exchange before the sweep? Keep in mind that sweeping and importing are two differet things. Sweeping means to send the coins from one address to one from your wallet. When you choose the 'sweep'-function your wallet automatically creates a transaction from your imported private key to an (unused) address generated by your wallet. This costs transaction fees. Importing simply means to import a private key into a wallet. This does not cost any transaction fees since no TX is being created. But please keep in mind that this imported priv key won't be included in your old backups, your seedphrase, and not always in a new backup (depending on backup-type and wallet). |