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Author Topic: Are private keys able to be transported between different hot wallet softwares?  (Read 223 times)
dansus021
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December 01, 2024, 01:26:57 PM
 #21

Are private keys able to be transported between different hot wallet softwares? The answer is yes if you have 12 mnemonic or private key from one software you can easliy move to another software in you case be able to transport from the exodus to any hot wallet out there

But like the other people said dont do it or you really have to because we dont know what the code behind new software wallet especially if they are closed one

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nakamura12
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December 01, 2024, 02:58:58 PM
 #22

Are private keys able to be transported between different hot wallet softwares? The answer is yes if you have 12 mnemonic or private key from one software you can easliy move to another software in you case be able to transport from the exodus to any hot wallet out there

But like the other people said dont do it or you really have to because we dont know what the code behind new software wallet especially if they are closed one
Yes this is true. Well, if op really wanted to do this then OP should make a research first on what wallet software he is going to transfer to if it's open source or a close source. We all know that even though close source wallet is also non-custodial but we won't know the code behind it. Anyway, I don't think it's a problem to import an existing wallet to another wallet software to be able to make transactions although I won't recommend OP to continue using the same wallet since he explained that what if something happens to the people that make exodus.

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December 02, 2024, 02:33:30 PM
 #23

Are private keys able to be transported between different hot wallet softwares? The answer is yes if you have 12 mnemonic or private key from one software you can easliy move to another software in you case be able to transport from the exodus to any hot wallet out there

But like the other people said dont do it or you really have to because we dont know what the code behind new software wallet especially if they are closed one
Yes this is true. Well, if op really wanted to do this then OP should make a research first on what wallet software he is going to transfer to if it's open source or a close source. We all know that even though close source wallet is also non-custodial but we won't know the code behind it. Anyway, I don't think it's a problem to import an existing wallet to another wallet software to be able to make transactions although I won't recommend OP to continue using the same wallet since he explained that what if something happens to the people that make exodus.

That is the key you the fact is you can do whatever you want with your own key heck you be able to import and export freely to any software wallet but always caution before doing it. Because back 2 years ago one of indonesia community get hacked because fake wallet app. Back then solflare dont have android app but somehow google play allow some phising dev to install on play store and manage to stole ton of wallet because that is phising app designed to steal other mnemonic and phrase

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December 02, 2024, 02:59:07 PM
 #24

If I have a bitcoin wallet on say Exodus, but something happens to the people that make Exodus, could I upload the 12 word private key on a different bitcoin hot wallet such as electrum and get my coins back?
Yes, you can recover your Bitcoin in another hot wallet if you have your private key because your private key is the key to your asset saved in the blockchain.

Your coins are not saved in the wallet; they are being saved in the blockchain and not the wallet. That is why you can use your generated private key to assess your asset in any wallet that support the private key, and these wallets are safer than leaving your coins in an exchange where you don't have control over your assets.

Always remember that not your keys, not your coins.

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December 02, 2024, 03:12:09 PM
 #25

Your coins are not saved in the wallet; they are being saved in the blockchain and not the wallet. That is why you can use your generated private key to assess your asset in any wallet that support the private key, and these wallets are safer than leaving your coins in an exchange where you don't have control over your assets.
Storing bitcoins on centralized exchanges is one of most risky practice, because you can lose your bitcoin. The exchange owns your bitcoin, and they secure it for you or steal it from you, you can not control their activities.

Reminder: do not keep your money in online accounts

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Always remember that not your keys, not your coins.
It's correct.

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December 02, 2024, 09:38:00 PM
 #26

Are private keys able to be transported between different hot wallet softwares? The answer is yes if you have 12 mnemonic or private key from one software you can easliy move to another software in you case be able to transport from the exodus to any hot wallet out there
Not every wallet though but most modern wallet , exchange wallets won't do that you can only follow thier protocols,  it's not your keys and there's no way to import using keys ... HD wallets should allow the import of private key, but a private key should be limited to a single address I think, so having multiple address will require multiple private keys for each address,  the 12 mnemonic seed will import  the whole address if all the address were generated using the seed,
Exodus on the other hand, will give seed but the private key can be derived using tools I think(OP should just forget private key he seem to be confusing it with mnemonic seed in which they are different) .
Importing the seed from Exodus to another wallet software is just what he need like you mentioned...

 
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December 04, 2024, 09:41:22 PM
 #27

That is the key you the fact is you can do whatever you want with your own key heck you be able to import and export freely to any software wallet but always caution before doing it. Because back 2 years ago one of indonesia community get hacked because fake wallet app. Back then solflare dont have android app but somehow google play allow some phising dev to install on play store and manage to stole ton of wallet because that is phising app designed to steal other mnemonic and phrase
You forgot to fake websites. It's not just wallet app that have fake but also websites although you will notice the difference if you take a good look at it. Most of it are fake websites for phishing attempt but there's also some fake app very much like the original or legit app. I think the reason why they use app is mostly not many people still use websites to access their wallet like myetherwallet before until they created their own app as well.

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