KeepKey: 0 balance in Electrum

[branchfoundation]

I recently found out that I can "watch" my KeepKey hardware wallet with Electrum, and I was super excited because I'm not a fan of Shapeshift products.

I managed to connect Electrum to my KeepKey, however I always see a zero BTC balance. The KeepKey icon appears in the lower-right corner of Electrum so I assume it's seeing the device.

Any tips would be highly appreciated.

SCREENSHOT:

https://i.imgur.com/cDvzrPq.jpg

[nc50lc]

Do you have more than one accounts in Keepkey?
If so, try create another wallet with a different derivation path, for the second account, change m/44'/0'/0' to m/44'/0'/1' for the third: m/44'/0'/2' and so forth.

Or you might have just installed Electrum for the first time because it may took a while for the balance to update (for first time install/launch).
that's because Electrum have to first download the blockheaders (52MB) in the background before it can function.

[TryNinja]

How does your addresses normally look like? Do they start with a 1, 3 or bc1q?

Then, go to "Receive" tab and look at the address that it's shown there. Does it start with a 1, 3 or bc1q?

[branchfoundation]

Do you have more than one accounts in Keepkey?
If so, try create another wallet with a different derivation path, for the second account, change m/44'/0'/0' to m/44'/0'/1' for the third: m/44'/0'/2' and so forth.

Or you might have just installed Electrum for the first time because it may took a while for the balance to update (for first time install/launch).
that's because Electrum have to first download the blockheaders (52MB) in the background before it can function.

Thanks for your reply! My KeepKey only has one account in it, account #0, for which I set up m/44'/0'/0'. Electrum has been running on my desktop for a few hours but the balance is still zero.

[DireWolfM14]

My KeepKey only has one account in it, account #0, for which I set up m/44'/0'/0'. Electrum has been running on my desktop for a few hours but the balance is still zero.

When you check your balance in Shapeshift what do the addresses look like?  As TryNinja asked, do they start with 1, 3, or bc1?

The derivation path you noted is for addresses that start with 1.  IIRC (it's been a while) the default settings in the Shapeshift software will set you up with addresses that start with 3.  Try selecting the derivation path for p2sh; m/49'/0'/0'.

There's also the chance that you have a Bip39 passphrase protected wallet.  When you connect your wallet to Shapeshift does it require a secondary passphrase to unlock your wallet?

If you haven't set up a Bip39 passphrase, I recommend you so immediately.  KeepKeys are vulnerable to physical attacks (the hacker needs your KeepKey in his possession) when not secured with a passphrase.  You can use Electrum to enable the setting; click on the KeepKey icon and select the "Advanced" tab.  You can enable the Bip39 passphrase setting there.

[branchfoundation]

My KeepKey only has one account in it, account #0, for which I set up m/44'/0'/0'. Electrum has been running on my desktop for a few hours but the balance is still zero.

When you check your balance in Shapeshift what do the addresses look like?  As TryNinja asked, do they start with 1, 3, or bc1?

The derivation path you noted is for addresses that start with 1.  IIRC the default settings in the Shapeshift software will set you up with addresses that start with 3.  Try selecting the derivation path for p2sh; m/49'/0'/0'.

There's also the chance that you have a Bip39 passphrase protected wallet.  When you connect your wallet to Shapeshift does it require a secondary passphrase to unlock your wallet?

I logged in to Shapeshift and my BTC wallet is using Account #0, Address #2 (m/49'/0'/0'/0/2), and the receiving address starts with 3. I recreated the wallet in Electrum and the balance is still zero.

Yes, I require a Bip39 passphrase to unlock my wallet in Electrum.

[nc50lc]

I logged in to Shapeshift and my BTC wallet is using Account #0, Address #2 (m/49'/0'/0'/0/2), and the receiving address starts with 3. I recreated the wallet in Electrum and the balance is still zero.

If that's the path for address index 2, just select p2sh-segwit (p2wpkh-p2sh), then do not change the displayed derivation path below.
If the balance still didn't update, you may have to enable BIP39 passphrase in Electrum as described in DireWolfM14's unquoted reply above.

[DireWolfM14]

I logged in to Shapeshift and my BTC wallet is using Account #0, Address #2 (m/49'/0'/0'/0/2), and the receiving address starts with 3. I recreated the wallet in Electrum and the balance is still zero.

Yes, I require a Bip39 passphrase to unlock my wallet in Electrum.

So, in Shapshift your addresses start with 3 and in Electrum they start with 1, correct?  If so, you need to create a new wallet using Electrum, and when you're given the option select the p2sh option:

[branchfoundation]

I logged in to Shapeshift and my BTC wallet is using Account #0, Address #2 (m/49'/0'/0'/0/2), and the receiving address starts with 3. I recreated the wallet in Electrum and the balance is still zero.

If that's the path for address index 2, just select p2sh-segwit (p2wpkh-p2sh), then do not change the displayed derivation path below.
If the balance still didn't update, you may have to enable BIP39 passphrase in Electrum as described in DireWolfM14's reply above.

You are legendary indeed. Problem solved! Thank you so much for taking the time to assist.

[branchfoundation]

I logged in to Shapeshift and my BTC wallet is using Account #0, Address #2 (m/49'/0'/0'/0/2), and the receiving address starts with 3. I recreated the wallet in Electrum and the balance is still zero.

Yes, I require a Bip39 passphrase to unlock my wallet in Electrum.

So, in Shapshift your addresses start with 3 and in Electrum they start with 1, correct?  If so, you need to create a new wallet using Electrum, and when you're given the option select the p2sh option:

https://i.ibb.co/tcYC5bX/Capture.png

Thank you so much for stopping by to help. These settings have in fact worked

[DireWolfM14]

Thank you so much for stopping by to help. These settings have in fact worked

Glad to help, and thanks for reporting back.