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Author Topic: Securing Electrum seed phrases though Seed Extension  (Read 218 times)
promise444c5
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April 07, 2024, 07:02:24 PM
 #21

A watch-only wallet has no private keys and can't sign transactions. The cold wallet needs private keys, otherwise there is no use for it. The online wallet is the one without private keys, created by importing (master) public keys that belong to the cold wallet.

Yes! I made mentioned  of the watch only wallet because  if he truly  use a cold wallet then he must have the watch only wallet to view his balance and make transactions  which requires  signing from the cold wallets  since its  our main  sturage with the private keys just as you've  said above in your comment.
Sometimes people  think  they are using  a cold wallet because they only connect  to Internet  when they want to make a transaction... and that really  sucks Tongue
Let's just admit he's using it on an airgapped device...

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Pmalek
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April 08, 2024, 03:47:42 PM
Merited by LoyceV (4)
 #22

Sometimes people  think  they are using  a cold wallet because they only connect  to Internet  when they want to make a transaction... and that really  sucks Tongue
I have heard that many times. A computer that you disconnect from the Internet doesn't become a cold wallet just like that. It's like saying I am a virgin because I only have sex on Saturday. It doesn't work like that. There are also people who refer to mobile phones as cold wallets with a claim that they keep their phones in airplane mode and turn their WiFi off. When they want to make a transaction, they turn everything on. This is very far from the truth.

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promise444c5
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April 08, 2024, 06:31:09 PM
Last edit: April 08, 2024, 06:43:21 PM by promise444c5
 #23

~
Exactly  my point proven !!
The example was hilarious though Cheesy Cheesy she needs to convince any listener without using any word related to s*x Cheesy   had to laugh while reading  it ,same goes to anyone claiming that too he have to convince us without using any word related to internet Smiley.
Why in the first  place  did I point  it out ?? I was also a victim of this same though before joining  the forum and I even went to the extent of showing  it in one of my replies , there I got corrected  on the perfect  procedures  to setup of a cold wallet on an Airgapped  device.
Now, seeing this bring  a flash back and I have to raise it for others to learn too.

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