Bitcoin Forum

"With seed you can`t restore your bitcoins..."

4:00 minute

https://youtu.be/7D83IpdiF-U?t=240

I don`t want to export my private keys.
Too risky.

How can I access my bitcoins If electrum-wallet goes into lightning?

Are they lost if I don`t switch my wallet to lightning-wallet?

That's not valid for the whole wallet, It's only for the lightning network. You'll still be able to recover your on-chain BTC/funds using the seed just fine.

Ok. Thank you.

One example that we make sure, that there is no misunderstood:

You own a electrum wallet with a plenty of bitcoins and you didn`t
open it for over 2 years (maybe 2023) after the lightning network goes online.

So I´m still able to restore my bitcoins with the seeds I have before the lightning network went online?

Or is it better to secure the private keys?

Your bitcoin will always 'stay valid' and you will always be able to access them using your seed (or mnemonic code).

The lightning network is just a 2nd layer. You don't HAVE to use it. Everything pre-lightning works as it did before.

Look at it as a plugin. You can use it, it gives advantages, but you don't have to.
You can use your browser without any plugins too. It is not like after a specific plugin is available to download your browser won't work anymore.

It is not better to export the private keys. Doing so may lead to funds losses.

To clear any doubts of new people which may occur after reading this statement:


Exporting the private keys itself does not lead to any loss.
The fact, that you only backed up a specific 'set of addresses' can lead to a loss if you receive funds to a newly generated address in the future (which you don't have a backup of yet).

So, as a backup.. use the seed / mnemonic code. Exporting private keys itself (for whatever reason) is not an issue.