Claiming Bitcoin Cash with Electrum Wallet

[escrow.ms]

Thank you.  

I have still another question, hoping I'm not bothering you too much. I've read these instructions on this forum:

1.Open up ElectrumCash 2.9.2 (Make sure you have latest version)
2.Click on New/Restore
3.Select wallet with two-factor authentication and click Next
4.Select I already have a seed and click "Next"
5.Enter your Electrum wallet seed and click Next
6.Select disable and click next
7.Enter password and click next and check if it's showing balance and try to spend it.


About item #3 : I think don't have a 2FA on my Electrum wallet - I just enter my complex password (I know, it's not very safe) - , do I have to select wallet with 2FA in this case ?
About item #6 : Since I haven't yet installed Electron Cash, is this instruction step "disable" different if I don't use 2FA ?

No You don't need to select 2FA, you need to select "Standard wallet" in step 3 and it should work for you and yes it will be different,electron won't show you step 6.

[1714790775]

1714790775

[1714790775]

1714790775

[1714790775]

1714790775

[ziggy2]

Wonderful, thank you, you have greatly helped. The cryptocurrency world is full of traps when you are not very knowledgeable about this technology...!

[faitaccompli]

@ziggy2: Wait, you're moving your btc from your electrum wallet to an exchange then BACK to your original electrum wallet? Is that smart? Considering you will have exposed your private keys while claiming the bitcoin cash.

[ziggy2]

That's what I thought I would do, yes. I don't understand what means "exposed your private keys"... Both my Electrum and my Electron Cash wallets "know" my seed, anyway, so I don't understand...
What else could be done ?
This is really rocket science for me ; would please explain how this works, and what to do instead...?

[HCP]

You're not moving BTC to "split" your coins... The fork and replay protection had already effectively done that.

You're moving your BTC to protect your BTC from theft should whatever BCH wallet you choose to use turn out to be "bad" and it steals your wallet/seed/private keys...

If you move your BTC to a completely new wallet... Even if ElectronCash then sends your old seed/private keys to the hacker, your BTC is safe as it is in a different seed/private key.

Sending to an exchange will do the same thing, but if you send it back to your old Electrum wallet, you're putting it back on the old seed!

The idea of using a 2nd machine or a VM or live distro CD/USB further increases the security by preventing your BCH wallet from being able to steal your wallet file for new wallet, as it would effectively be on a "separate" device

[ziggy2]

You say "If you move your BTC to a completely new wallet".. how can I do that ? I don't have another computer, so is it safe to create a new wallet by opening my Electrum ad use the "New/restore" menu item  ?

[jackg]

You're not moving BTC to "split" your coins... The fork and replay protection had already effectively done that.

You're moving your BTC to protect your BTC from theft should whatever BCH wallet you choose to use turn out to be "bad" and it steals your wallet/seed/private keys...

If you move your BTC to a completely new wallet... Even if ElectronCash then sends your old seed/private keys to the hacker, your BTC is safe as it is in a different seed/private key.

Sending to an exchange will do the same thing, but if you send it back to your old Electrum wallet, you're putting it back on the old seed!

The idea of using a 2nd machine or a VM or live distro CD/USB further increases the security by preventing your BCH wallet from being able to steal your wallet file for new wallet, as it would effectively be on a "separate" device

This is the user who produced electron cash: https://bitcointalk.org/index.php?action=profile;u=261027
I think electron cash should be pretty safe.

You say "If you move your BTC to a completely new wallet".. how can I do that ? I don't have another computer, so is it safe to create a new wallet by opening my Electrum ad use the "New/restore" menu item  ?

Yes, make a new wallet on your normal computer.

If it's a large amount of bitcoin, you could always run the separate electrum client on a vps for a fairly low fee (but it should be fairly safe anyway).

[jman0war]

The use of a second computer and 2nd Electrum wallet is a security measure to protect your BTC. It isn't strictly required, but is recommended. The idea is that by moving your BTC to a new wallet with new seed/private keys, if the BCH wallet turns out to be "Bad" and it steals your seed or keys, then only your BCH is at risk as your BTC has already been moved. The use of a second computer is also an extra step to protect your wallet file from being stolen.

The same thing can be achieved using VMs or live distro bootable USBs/CDs etc... as mentioned, it's not necessary, just a good idea

And yes, by seed they mean the 12 words

Thanks.
I did this over the weekend and it worked perfectly.

[ziggy2]

Thank you jackg, escrow.ms and everyone, thanks to your helpful advice, it works perfectly for me as well.