MyCelium and Ledger Nano S and Importing Keys.

[cmbconcretefire]

I have about $100 worth of BTC on Mycelium. I got a Ledger Nano S for Christmas.

The 'easy' thing for me would be to simply SEND the BTC from Mycelium to Ledger......BUT, those TX fees are just stupid high. I'm not paying it.

Can't I just import the key from Mycelium to Ledger and avoid the TX fee?

Or, there may be other options that I've skimmed.....like importing the keys from Mycelium to Electrum, and then use Ledger as the final destination. Anyone know how to do this? Thanks.

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[TryNinja]

No. You can't import an already existent wallet/private-key to Ledger. As pointed out by HCP, you actually can. But this would also defeats the whole purpose of having a hardware wallet.

Either send all your coins to your new Ledger wallet, or just keep them in your old wallet and start receiving new payments into your Ledger address. I don't really recommend doing that though. But you own the coins, so it's your choice.

[HCP]

No. You can't import an already existent wallet/private-key to Ledger.

That's not strictly correct... Mycelium uses BIP39/BIP44 compatible seeds... so theoretically you CAN import a Mycelium seed phrase into a Ledger. Read here: https://ledger.zendesk.com/hc/en-us/articles/115005165309-How-to-import-recover-a-backup-on-a-Nano-S-

... This would also defeats the whole purpose of having a hardware wallet.

Whether you *should* import a seed that was not created on the Ledger is a different topic for debate... common sense would suggest that you shouldn't because, as TryNinja pointed out, it defeats the purpose of the hardware wallet (ie. seed/private keys never exposed outside of the wallet).

If you want to give it a go for practice, have at it... but personally, I would not continue to use the Ledger on a long term basis with an "exposed" seed.