Title: Can I batch multiple transactions while _not_ connected to the internet? Post by: davidbak on September 07, 2021, 02:28:59 AM (I'm new to Electrum.)
I'm going to use Electrum (in Tails OS), configured to talk only to the Electrs on my own Raspiblitz, to transfer coin from a bunch of paper wallets to a proper deterministic wallet. The paper wallets of course are all P2PKH, and I expect to have to type in private keys (tedious but I've done it before).
I can make an Electrum wallet to match my hardware wallet seed+passphrase.
What I'd really like to avoid is doing the disconnect/enter private key/sign transaction/reboot/connect/transmit for each paper wallet. Hopefully you'll tell me the first option above just works: all the signed transactions just stack up with no place to go until the internet is available and then off they go. If not though, then what? Title: Re: Can I batch multiple transactions while _not_ connected to the internet? Post by: pooya87 on September 07, 2021, 02:57:10 AM This is not the correct way of setting up a cold storage or claiming coins offline. What you need is 2 devices or at least 2 operating systems, one completely and always offline and the other online.
On the offline system you install Electrum and create a new wallet (you can't import new keys in an existing wallet that has a seed). Import the private keys there to get the corresponding addresses. Create a new wallet with seed (in Electrum or using your hardware wallet) and get a new address to receive the coins in the end. Lets call this ADDR. On the online system install Electrum and let it sync. Now create a new wallet but this time import the addresses and let the wallet sync to get your transaction history. Go to the Send tab and enter ADDR in Pay to field and click the Max button in front of Amount. By doing this you are "batching" all your coins in that watch-only wallet and sending it all to ADDR. Set the fee and create the transaction (unsigned). Copy it and move it to your offline system. On the offline system import the transaction you just created and double check that everything is correct (destination address and amount). Sign this transaction and again export it. Back to online system you import the now signed transaction and broadcast it. Title: Re: Can I batch multiple transactions while _not_ connected to the internet? Post by: davidbak on September 07, 2021, 03:05:53 AM OK, I can do it that way, thank you because it is exactly what I needed to know.
A couple of followups:
TIA Title: Re: Can I batch multiple transactions while _not_ connected to the internet? Post by: pooya87 on September 07, 2021, 03:36:43 AM
- Yes, Electrum lets you add extra words to your seed phrase known as passphrase. When importing the seed phrase there is an "Options" button that you can click to select this option. Title: Re: Can I batch multiple transactions while _not_ connected to the internet? Post by: nc50lc on September 07, 2021, 05:33:16 AM I can make an Electrum wallet to match my hardware wallet seed+passphrase.
A couple of followups: In case you missed it, Electrum has an option to create a wallet using your hardware wallet without entering its seed+passphrase.
The option is in new wallet option "Standard wallet->Use a hardware device". Title: Re: Can I batch multiple transactions while _not_ connected to the internet? Post by: o_e_l_e_o on September 07, 2021, 08:28:07 AM Just a couple of other points:
Unless there's a way in Electrum to scan a WIF private key? If your paper wallet as a QR code on it, then on the import private keys screen there is a camera icon at the bottom right of the text box you can click. If your paper wallet only has the private key in WIF format, then you will need to enter it by hand.I can make an Electrum wallet to match my hardware wallet seed+passphrase. The only way you should use Electrum to interact with your hardware wallet is as nc50lc has described in the above post. If you take your seed phrase +/- passphrase from your hardware wallet and set up a new Electrum wallet with it by typing them in, then you have completely negated all the security your hardware wallet gives you by exposing your seed phrase and passphrase to the internet. You should only use Electrum as an interface to interact with your connected hardware wallet, and not to duplicate the hardware wallet to an Electrum wallet. |