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Author Topic: Freewallet or Atomic Wallet?  (Read 447 times)
hack3rcon (OP)
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May 13, 2021, 06:57:50 PM
 #41

If entering the phrase keys to another non-custodial wallet work, then why people send their coins between the wallets?
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May 14, 2021, 08:53:23 AM
 #42

If entering the phrase keys to another non-custodial wallet work, then why people send their coins between the wallets?

I'm not sure exactly in which direction your question is going, but I guess you think people should exchange seed or private keys instead of transactions or? This is of course possible, but do you want to give someone your seed, and he has to make a transaction again because you can’t both have access to the same seed for obvious reasons?

If you mean personal transactions (when you send to yourself), it definitely makes sense that instead of an on-chain transaction you just enter your seed in a new wallet - but then you have a situation where the seed is part of two different crypto wallets - and you can compromise the seed in process of entering in new wallet (malware - keylogger).

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hack3rcon (OP)
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May 14, 2021, 03:02:02 PM
 #43

I meant to be personal transactions.
For example, Trust Wallet doesn't support some coins staking, but Guarda Wallet does. I enter my phrase keys into the Guarda Wallet and start staking. Is it OK?
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May 15, 2021, 12:28:43 AM
 #44

If entering the phrase keys to another non-custodial wallet work, then why people send their coins between the wallets?
I meant to be personal transactions.
For example, Trust Wallet doesn't support some coins staking, but Guarda Wallet does.
It's either:

1. They're totally unaware of the option to export and import private keys between non-custodial wallets
2. They simply send out the funds to a new wallet for a new set of private keys. Basically for security purposes

I enter my phrase keys into the Guarda Wallet and start staking. Is it OK?
In theory, it should be ok. But I personally wouldn't be comfortable with importing my wallet's private keys in multiple wallets; unless it's a hot wallet.

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Pmalek
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May 15, 2021, 06:21:07 PM
 #45

For example, Trust Wallet doesn't support some coins staking, but Guarda Wallet does. I enter my phrase keys into the Guarda Wallet and start staking. Is it OK?
That will work just fine, yes. But if you use the same recovery phrase across multiple wallets, all it will take is that one of those clients experiences a hack, serious vulnerability, or an exit scam (inside job) for you to lose all your digital assets protected by that seed. That's why it's not recommended. If you created a new wallet and a new seed on Guarda, you would only lose the coins sent to Guarda in case of any problems. Those stored in your Trust Wallet under a different seed wouldn't be affected.   

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pooya87
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May 16, 2021, 03:10:41 AM
 #46

I enter my phrase keys into the Guarda Wallet and start staking. Is it OK?
In theory, it should be ok. But I personally wouldn't be comfortable with importing my wallet's private keys in multiple wallets; unless it's a hot wallet.
As long as the wallet(s) that the key is being imported into don't have some crazy vulnerabilities that would cost you all the funds in that key you are importing. This particular risk is even higher when the wallet that is being used is not old or popular enough to be considered "safe".

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hack3rcon (OP)
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May 16, 2021, 02:47:34 PM
 #47

If I enter my Trust Wallet phrase keys to another non-custodial wallet like Atomic Wallet, then I can see my assets?

In theory, this should work - but the most common problem is that different wallets use different derivation paths, which then does not automatically generate the identical wallet (private keys) you want to recover.  Specifically as far as the Atomic wallet is concerned, I found this answer to a similar question :

Our import function is working as a regular transaction. So when you are importing your keys/phrase to Atomic Wallet, your assets will be transferred as a blockchain transaction with a network fee paid to miners.
That is correct, your XRP and EOS addresses have to be activated in the wallet. As Atomic produces your new unique addresses for every coin.
Our 12-word mnemonic seed is compatible with any wallet supporting 12-word mnemonic phrase. The way your assets will be transferred from Atomic is determined by the wallet you are importing your keys/phrase to

This means that they do not support the classic seed/private keys import, but only the sweep option.
Thanks.
I have some Tethers in the MetaMask wallet and it need Ethereum for swapping. How Atomic Wallet converts my Tethers automatically?
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