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Author Topic: Can Imported Wallets Get a Seed?  (Read 113 times)
kinnerc
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November 13, 2017, 11:20:04 PM
 #1

Hi Folks:

Newbie here, gods help us all!  Smiley

I had an old, classic Bitcoin wallet that required the full blockchain to work. Not bad for 2012, but, today, not so much.

I decided to use Electrum as my client under Linux. Installed, set up, created a standard wallet as per the directions, setting up a wallet with a seed.

Having the private keys from my old wallet, I proceeded to try to sweep them into the wallet, but was told that I didn't have enough money in the wallet to do that (at the time I had 6 mBTC in there). I made up a new wallet and imported the private keys into it. As per the documentation this wallet did not have a seed, but I have put a password on it. When I look at the wallet it says "Wallet Name [Imported]" which makes sense.

Can I get this wallet to have a seed? Or would that require me to make a new wallet with a seed and sweeping the private keys from this imported wallet into that one?  If that is the case, why does sweeping incur a transaction fee?

Thanks much!
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November 14, 2017, 03:02:48 AM
 #2

Can I get this wallet to have a seed?
You mean that wallet doesn't have a seed? if that wallet doesn't have any recovery method like private keys and the seed much better if you stay away from that web wallet since you all have is the password and not the seed.

Or would that require me to make a new wallet with a seed and sweeping the private keys from this imported wallet into that one?
Yes, that will work so you have the recovery phrase and save in a safe place especially offline.

If that is the case, why does sweeping incur a transaction fee?
 Sweeping is like sending all funds of your bitcoins from the imported one to a newly made wallet in a normal transaction and it will obviously require a transaction fee.

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November 15, 2017, 10:59:19 AM
 #3

You can't mix deterministic wallets (seeded wallets) and imported private keys in the same wallet. You can however create a new standard wallet and sweep your coins to it. Sweeping incurs a fee because it is an on-chain transaction. Bitcoins are sent to an address in your deterministic wallet (seeded wallet). Right now fees are very high so it's not the best time to attempt this. Besides with just 6mbtc i wouldn't bother sweeping at any time. You can still create a new standard wallet to receive bitcoin in future. It is better than reusing that old single address wallet with the imported private key.

To create a new wallet start by going to file > new/restore and enter a filename for your new wallet. Follow on-screen steps to create your new standard wallet. To open a different wallet file use file > open.

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