Bitcoin Forum
July 04, 2024, 03:29:53 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Moving bitcoin between wallets  (Read 387 times)
LtnGeorge (OP)
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
August 20, 2017, 07:27:13 PM
 #1

Hello everyone from this lovely community.

I'm a long time lurker and have invested in a nice amount of bitcoin a while ago (before the fork)
Now I am in the process of getting my bitcoin cash that should also come on that same adress.
I will use either coinomi of electron for that, but that is not the point now.

For safety reasons I want to save my bitcoin from my original wallet (X) into a different electrum wallet (Y), but what is the best way to do so?

1) Just send my bitcoin from X to the receiving adres of Y and pay a fee in the process.

2) Import the private key from wallet X into Wallet Y

3) Use sometime called sweep to transfer the funds between wallets; It is actually unclear to me how such a thing would work. Google gave different answers.

Should I sweep in Wallet Y and then but the private key of wallet X in there so the funds get transferred?

Thanks in advance and keep up all the good work here!
kolloh
Legendary
*
Offline Offline

Activity: 1736
Merit: 1023


View Profile
August 20, 2017, 07:34:45 PM
 #2

Hello everyone from this lovely community.

I'm a long time lurker and have invested in a nice amount of bitcoin a while ago (before the fork)
Now I am in the process of getting my bitcoin cash that should also come on that same adress.
I will use either coinomi of electron for that, but that is not the point now.

For safety reasons I want to save my bitcoin from my original wallet (X) into a different electrum wallet (Y), but what is the best way to do so?

1) Just send my bitcoin from X to the receiving adres of Y and pay a fee in the process.

2) Import the private key from wallet X into Wallet Y

3) Use sometime called sweep to transfer the funds between wallets; It is actually unclear to me how such a thing would work. Google gave different answers.

Should I sweep in Wallet Y and then but the private key of wallet X in there so the funds get transferred?

Thanks in advance and keep up all the good work here!

You should be able to simply create a new Electrum wallet with a new seed and then send all the bitcoin from the old wallet to the new wallet sending a fee in the process (Option 1 from your example).

You don't want to import the private keys as you want to ensure you are using entirely new private keys in the new wallet. Not to mention, you can't import private keys into a seed based wallet.
jackg
Copper Member
Legendary
*
Offline Offline

Activity: 2856
Merit: 3071


https://bit.ly/387FXHi lightning theory


View Profile
August 20, 2017, 07:37:07 PM
 #3

Hello everyone from this lovely community.

I'm a long time lurker and have invested in a nice amount of bitcoin a while ago (before the fork)
Now I am in the process of getting my bitcoin cash that should also come on that same adress.
I will use either coinomi of electron for that, but that is not the point now.

For safety reasons I want to save my bitcoin from my original wallet (X) into a different electrum wallet (Y), but what is the best way to do so?

1) Just send my bitcoin from X to the receiving adres of Y and pay a fee in the process.

2) Import the private key from wallet X into Wallet Y

3) Use sometime called sweep to transfer the funds between wallets; It is actually unclear to me how such a thing would work. Google gave different answers.

Should I sweep in Wallet Y and then but the private key of wallet X in there so the funds get transferred?

Thanks in advance and keep up all the good work here!

You should be able to simply create a new Electrum wallet with a new seed and then send all the bitcoin from the old wallet to the new wallet sending a fee in the process (Option 1 from your example).

You don't want to import the private keys as you want to ensure you are using entirely new private keys in the new wallet. Not to mention, you can't import private keys into a seed based wallet.

Also, sweeping a transaction is basically the same as sending a transaction to your wallet X to wallet Y, however, it uses the within the first block fee. If you don't need it quickly, then you can use a lower fee to get the BCC out.

Set the fee slider to the far left if you're not in a rush, and hit the max button to ensure all the coins are out of that wallet.
LtnGeorge (OP)
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
August 20, 2017, 10:07:32 PM
 #4

Thanks you for your answers!
Made a lot clear to me now.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!