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Author Topic: Security feature will still work as intended?  (Read 104 times)
KiaKia (OP)
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March 03, 2023, 01:54:59 PM
 #1

There are things I still don't know about crypto hardware wallet and since this forum is here for people like me,  I will like to ask one or two question concerning importation of hot wallet into a hardware wallet.

Can someone import a hot wallet account into a hardware wallet? And the hardware wallet security features will still work and guide the imported hot wallet account?

Assuming I am coming from a trust wallet for example, will the hardware wallet not feel concerned that it doesn't generate this hot wallet in the first place,  why should it care?

Sorry if my question bother you, I don't know how to write this any better, crypto wallets aren't supposed to feel or have feelings.  

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March 03, 2023, 02:11:24 PM
 #2

will the hardware wallet not feel concerned...
...crypto wallets aren't supposed to feel or have feelings.  
You can import seed words from hot wallet to hardware wallet if you are stupid enough to do it... I don't see any good reason for that when you can just send coins to new address.
There is a reason why hardware wallets are more secure because keys are stored offline and they never gets exposed to internet, unless you leak them yourself.

PS
As for crypto wallet feelings and concerns... this is not a circus, so if you continue making comments and posts like this I will have to start reporting them to moderators and put you on my ignore list.

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tbct_mt2
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March 03, 2023, 02:16:05 PM
 #3

Can someone import a hot wallet account into a hardware wallet? And the hardware wallet security features will still work and guide the imported hot wallet account?
You can not. They have different designs and use different derivation paths.

As I know, you can connect your hardware device to Electrum wallet and access your bitcoin and send it.

Set up and use Electrum (Ledger)
Electrum and Trezor

R


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jackg
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March 03, 2023, 02:55:38 PM
 #4

Most hot/software wallets use shorter seed lengths than hardware wallets, you're also unnecessarily compromising your security (and might forget you've done that too).

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March 03, 2023, 03:28:56 PM
 #5

You want to import a seed phrase from an online wallet to a hardware wallet? Do not try it at all, always generate seed phrase directly on hardware wallet, it is unique because the seed phrase and the keys are offline.

Most hot/software wallets use shorter seed lengths than hardware wallets
It depends on that hardware wallet, Trezor created Trezor model one and Trezor model T. Trezor model one generates 24 words seed phrase but Trezor model T generates 12 words seed phrase. But the main point is that be it 12 or 24 word seed phrase, a malware on an online device is able to compromise a wallet and know the seed phrase. Also 12 word seed phrase is still having the same bits of security as 24 words seed phrase.

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KiaKia (OP)
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March 03, 2023, 03:56:59 PM
 #6

You want to import a seed phrase from an online wallet to a hardware wallet? Do not try it at all, always generate seed phrase directly on hardware wallet, it is unique because the seed phrase and the keys are offline.

Most hot/software wallets use shorter seed lengths than hardware wallets
It depends on that hardware wallet, Trezor created Trezor model one and Trezor model T. Trezor model one generates 24 words seed phrase but Trezor model T generates 12 words seed phrase. But the main point is that be it 12 or 24 word seed phrase, a malware on an online device is able to compromise a wallet and know the seed phrase. Also 12 word seed phrase is still having the same bits of security as 24 words seed phrase.
Now I get it, thanks for explaining better,  you and @jackg,  I don't know how hardware wallets function,  I thought the only thing that makes a hardware wallet different from a hot wallet is the security side of things and also keeping the wallet offline. 
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March 03, 2023, 04:28:11 PM
 #7

Now I get it, thanks for explaining better,  you and @jackg,  I don't know how hardware wallets function,  I thought the only thing that makes a hardware wallet different from a hot wallet is the security side of things and also keeping the wallet offline. 


Generating a wallet using a software wallet then importing it to a hardware wallet is like creating a PayPal account on a malware-infested computer then saving the password on a highly-secure Linux device.

While your private keys are offline on the hardware wallet, it was already once online and could've potentially been leaked already.

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coupable
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March 03, 2023, 05:15:45 PM
 #8

I don't know how hardware wallets function,  I thought the only thing that makes a hardware wallet different from a hot wallet is the security side of things and also keeping the wallet offline. 
Of course, there are differences between the two types of wallets, the most important of which is the protection properties in which hardware wallets are generally the safest, since the private keys are stored in a device that does not need to connect to the Internet to function.
In your case, migration from one wallet to another is easier than you can imagine, and it is sufficient to use the seed or to send all your savings to new addresses, since you use the multi-currency wallet, Trust and machines.
In this article, there is an explanation of the method of transferring currencies from the Trust wallet to the Hardware wallet using the MetaMask add-on. I hope it will be useful to you.
https://www.quora.com/How-can-I-transfer-crypto-from-Trust-Wallet-to-a-ledger-hardware-wallet
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March 03, 2023, 05:47:20 PM
 #9

I don't know how hardware wallets function,  I thought the only thing that makes a hardware wallet different from a hot wallet is the security side of things and also keeping the wallet offline. 
Cold wallets are effectively the same with hot wallets in the wallet design, what makes it different is how it is used.
A Hot wallet is connected to the internet and used for making regular transactions. They are more exposed to online threats.
Cold wallets are not connected to the internet, but 'frozen' offline away from any threat online.

A cold wallet could be a hardware or software wallet, ensured that it is not connected to the internet. This wallet could vary in its specification like number of seed words.

- Jay -

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doomloop
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March 04, 2023, 08:19:26 PM
 #10

You want to import a seed phrase from an online wallet to a hardware wallet? Do not try it at all, always generate seed phrase directly on hardware wallet, it is unique because the seed phrase and the keys are offline.

Most hot/software wallets use shorter seed lengths than hardware wallets
It depends on that hardware wallet, Trezor created Trezor model one and Trezor model T. Trezor model one generates 24 words seed phrase but Trezor model T generates 12 words seed phrase. But the main point is that be it 12 or 24 word seed phrase, a malware on an online device is able to compromise a wallet and know the seed phrase. Also 12 word seed phrase is still having the same bits of security as 24 words seed phrase.
Now I get it, thanks for explaining better,  you and @jackg,  I don't know how hardware wallets function,  I thought the only thing that makes a hardware wallet different from a hot wallet is the security side of things and also keeping the wallet offline. 
You are correct in your understanding that the key difference between a hardware wallet and a hot wallet is the security aspect. Though a hot or software wallet is more convenient for regular transactions, they are more vulnerable to hacks and cyber attacks as they are constantly connected to the internet.

On the other hand, a hardware wallet provides an extra layer of security to protect your cryptocurrency holdings. They are designed to keep your private keys safe and secure, even if your computer or smartphone is compromised. So it's better not to mix them up and not let anyone compromise your security and access your assets.

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