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Author Topic: Does Ledger, Trezor, or Coinomi ever see your Private Keys?  (Read 133 times)
hoganJ32888 (OP)
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January 13, 2018, 05:51:05 PM
Last edit: January 13, 2018, 06:01:45 PM by hoganJ32888
 #1

I had cold stored BTC in electrum wallets for several months. There have been many forks since then. Some yielded alt. coins of value others not.

I want to move my crypto to trezor, ledger, and coinomi wallets by importing the seed.

From my understanding, these wallets might not support ALL of these alt. coins that forked. I would like to still have the freedom to claim some of the less popular alt. coins just in case in the future they become of value, so I have a few questions....

1) Would either trezor, ledger, or coinomi have access to the seed phrases that I used to open their wallets with? Basically I'm asking  is does the company "see" these phrases and private keys---could they take the coins their wallets don't support and keep them for themselves?
(I think the answer is NO. The wallet companies do not see any of your seed or private keys. But just to double-check I ask here)

-After importing seed into one of these wallets, say Trezor, and then I realize some forked alt. coins aren't accepted, can I then import that same seed into another wallet that does import the alt coins? What would happen? The BTC and BTG would stay in Trezor but the coins that Trezor doesn't support would show up in the other wallet? or would all the coins move to the other wallet?




AdolfinWolf
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January 13, 2018, 06:11:02 PM
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I had cold stored BTC in electrum wallets for several months. There have been many forks since then. Some yielded alt. coins of value others not.

I want to move my crypto to trezor, ledger, and coinomi wallets by importing the seed.

From my understanding, these wallets might not support ALL of these alt. coins that forked. I would like to still have the freedom to claim some of the less popular alt. coins just in case in the future they become of value, so I have a few questions....

1) Would either trezor, ledger, or coinomi have access to the seed phrases that I used to open their wallets with? Basically I'm asking  is does the company "see" these phrases and private keys---could they take the coins their wallets don't support and keep them for themselves?
(I think the answer is NO. The wallet companies do not see any of your seed or private keys. But just to double-check I ask here)

-After importing seed into one of these wallets, say Trezor, and then I realize some forked alt. coins aren't accepted, can I then import that same seed into another wallet that does import the alt coins? What would happen? The BTC and BTG would stay in Trezor but the coins that Trezor doesn't support would show up in the other wallet? or would all the coins move to the other wallet?






1) As far as i know, Trezor nor the Nano Ledger have access to any of your seeds. All of their code is open-sourced (although some of the nano infrastructure isn't yet, but that shouldn't matter. https://www.ledger.fr/2016/06/09/secure-hardware-and-open-source/), which would make hiding something that would track/store extremely difficult.

Trezor: https://doc.satoshilabs.com/trezor-tech/resources.html Nano:

Ledger: https://github.com/LedgerHQ

2) If that wallet is compatible with the seed ( it accepts that derivation method or has the same way of derivating a seed.) Then yes, the newly forked coins should show up.

Quote
but the coins that Trezor doesn't support would show up in the other wallet?
Only if the wallet is compatible for those coins.  eg the Electrum bitcoin cash fork won't suddenly show your bitcoin "Bitcoin" balance.

(Note that this was just an example, i'm not entirely sure if the seeds of Electrum are compatible with both the seeds of Trezor/Ledger nano.)

I.Grozni
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January 13, 2018, 09:57:29 PM
 #3

I had cold stored BTC in electrum wallets for several months. There have been many forks since then. Some yielded alt. coins of value others not.

I want to move my crypto to trezor, ledger, and coinomi wallets by importing the seed.

From my understanding, these wallets might not support ALL of these alt. coins that forked. I would like to still have the freedom to claim some of the less popular alt. coins just in case in the future they become of value, so I have a few questions....

1) Would either trezor, ledger, or coinomi have access to the seed phrases that I used to open their wallets with? Basically I'm asking  is does the company "see" these phrases and private keys---could they take the coins their wallets don't support and keep them for themselves?
(I think the answer is NO. The wallet companies do not see any of your seed or private keys. But just to double-check I ask here)

-After importing seed into one of these wallets, say Trezor, and then I realize some forked alt. coins aren't accepted, can I then import that same seed into another wallet that does import the alt coins? What would happen? The BTC and BTG would stay in Trezor but the coins that Trezor doesn't support would show up in the other wallet? or would all the coins move to the other wallet?

1. Coinomi have no access to your seed phrases. Only you know your seed phrase and that's why you have to keep it in a safe place. If your phrase has 12 words then it is compatible with the Coinomi wallet. When you download your Coinomi https://play.google.com/store/apps/details?id=com.coinomi.wallet to your Android smartphone and start selecting the 'I have a phrase' option and enter your phrase. Your Bitcoin wallet will sync with your Electrum wallet. How to claim your fork coin look here https://medium.com/@coinomi and you can join our community at Telegram https://t.co/GdhGN5QaP3
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