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Author Topic: Ledger Nano S And Bitcoin Hard Fork..  (Read 4385 times)
eddie13
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March 18, 2017, 07:57:29 PM
 #1

So, if I stick all my BTC onto a Ledger Nano S and then a hardfork occurs I want to make sure I know what to do..

From what I can find so far as of now the only option is to, restore my wallet from the Nano to a Bitcoin software wallet using the seed phrase, and then export my private keys, and then import those keys to a wallet that supports the fork coins, so I would have 2 different wallets for different coins with the same keys..

Or, wait for the Ledger team to come up with coin split software update for the hardware wallet itself..

Am I understanding this correctly?
Anything else I should know?
Tell me all about it please, I want to be informed..





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March 18, 2017, 09:06:34 PM
 #2

So, if I stick all my BTC onto a Ledger Nano S and then a hardfork occurs I want to make sure I know what to do..

From what I can find so far as of now the only option is to, restore my wallet from the Nano to a Bitcoin software wallet using the seed phrase, and then export my private keys, and then import those keys to a wallet that supports the fork coins, so I would have 2 different wallets for different coins with the same keys..

Or, wait for the Ledger team to come up with coin split software update for the hardware wallet itself..

Am I understanding this correctly?
Anything else I should know?
Tell me all about it please, I want to be informed..

Ledger has it under control see this thread on reddit - https://www.reddit.com/r/ledgerwallet/comments/5zdefm/ledger_namo_s_and_btc_hardfork/

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If both chains survive in the long time (which is quite unlikely IMHO) we'll handle this like ETH and ETC - run nodes for each chain and have a switch when the app starts


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March 19, 2017, 07:12:42 PM
 #3

So, if I stick all my BTC onto a Ledger Nano S and then a hardfork occurs I want to make sure I know what to do..

From what I can find so far as of now the only option is to, restore my wallet from the Nano to a Bitcoin software wallet using the seed phrase, and then export my private keys, and then import those keys to a wallet that supports the fork coins, so I would have 2 different wallets for different coins with the same keys..

Or, wait for the Ledger team to come up with coin split software update for the hardware wallet itself..

Am I understanding this correctly?
Anything else I should know?
Tell me all about it please, I want to be informed..

Even if Ledger had not it under control you will not be losing anything. Ledger Wallets are BIP39 compatible so you can import the seed of your Ledger into such BIP39 compatible wallets, i.e Electrum and from there decide where to go.

It is really a good thing Ledger has this under control as this hard fork is being talked more and more as of lately.




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March 22, 2017, 07:40:16 AM
 #4

https://blog.ledger.co/what-would-happen-for-ledger-hardware-wallet-users-in-case-of-a-bitcoin-fork-3b955a065d57#.l23rohtyz
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