Is it safe to sell from legacy wallet?

[kiragaz]

Hello.
On my Ledger Nano I have 5 wallets.
Two of them is legacy wallets.

Is it safe to sell funds from legacy wallets?

I have my 24 words seed.

Thank you in advance.         Regards.

[OmegaStarScream]

In terms of safety, it doesn't really make much difference between legacy or segwit addresses. So yes you could send them anywhere you'd like and sell them. You should consider switching to segwit though.

[kiragaz]

Thank you.
I hear ppl loosing money when migrating from legacy wallets
Migrating and selling btc -its not the same ?

[Cookdata]

Thank you.
I hear ppl loosing money when migrating from legacy wallets
Migrating and selling btc -its not the same ?

You only lose Bitcoin if you are sending to an address which the seed phrase or private keys is not under your protection. If you are sending to an another wallet address(Segwit) or exchange wallets address, double check the address before you send the Bitcoin from your legacy, you wouldn't have any problem.

[LoyceV]

I hear ppl loosing money when migrating from legacy wallets

People lose their Bitcoins in many different ways. "I hear" isn't a good basis.

Migrating and selling btc -its not the same ?

"Migrating" doesn't really mean much: in this case it's simply moving Bitcoin from a legacy address to a newer address format (probably Segwit). "Selling" obviously means you send it to someone else's address.

You've been here since 2017, and apparently have 5 different Bitcoin wallets. May I suggest to spend a couple of hours reading up on Bitcoin, so you get a better understanding of how it works?

[Zaguru12]

Thank you.
I hear ppl loosing money when migrating from legacy wallets
Migrating and selling etc -its not the same ?

It is not the migration that is actually making them to lose money but they might have migrated wrongly probably to a corrupt wallet and immediately it got there it got wipe out or most importantly to a wrong address either through malwares or the user mistakes. When migrating start with small amounts and see if the new wallet is actually the right one.

The best way to migrate is to actually sweep the wallet private keys or seed phrase using electrum wallet on a clean device.

Here is a guide on that  https://bitcoinelectrum.com/sweeping-your-private-keys-into-electrum/

But there is no security challenge with using either of the legacy address formats or the Segwits address formats

[kiragaz]

If I sell from my legacy wallet to person I meet for first time, how I know if he's wallet legit,
so I can't prevent missunderstanding?

[LoyceV]

If I sell from my legacy wallet to person I meet for first time

If you don't understand what you're doing, and want to meet a stranger to buy your Bitcoin, chances are you're going to get robbed!

how I know if he's wallet legit,

Why would anyone give a fake address when they're about to receive Bitcoin?

[kiragaz]

I meant he can give legacy wallet address and when I send btc he will blame they was wiped
and he didn't receive it

[LoyceV]

I meant he can give legacy wallet address and when I send btc he will blame they was wiped
and he didn't receive it

Legacy wallet addresses aren't insecure. If it gets wiped after someone receives it, that's his problem. But if you're afraid of this, you should just use a registered exchange.

[kiragaz]

thank you all for help

[hmbdofficial]

Hello.
On my Ledger Nano I have 5 wallets.
Two of them is legacy wallets.

Is it safe to sell funds from legacy wallets?

I have my 24 words seed.

Thank you in advance.         Regards.

You should know that legacy wallet are the old form of address with high transaction fee during transactions as such you will be doing you self discount buy moving your holdings to a Segwit address it’s just a move from address that uses P2Pk to a P2WPk.
 
But it is completely safe to move the funds with zero security threat Infact it is the best thing to do if you still have funds lock on legacy address it has been advised to move them to Segwit address.

[nc50lc]

Thank you.
I hear ppl loosing money when migrating from legacy wallets

I think you misunderstand those rumors (actually news).
Those must be related to Bitcoin Core's "legacy wallet" migration to "descriptor wallet", as in the wallet that contains your prvKeys and addresses.
Not about address types since an address shouldn't be called a wallet.

Migrating and selling btc -its not the same ?

Yes, it's about the "migratewallet" feature that's bugged in the previous releases of Core.

[MusaMohamed]

I hear ppl loosing money when migrating from legacy wallets

Don't trust what you "hear", let's verify it with on chain information. If the story has no details on chain, it's can be an AI-written story for fun.

Migrating and selling btc -its not the same ?

With Bitcoin blockchain and non custodial wallet (you have private keys), you can move your bitcoin from one Bitcoin address to other Bitcoin addresses that can be in the same wallet or in other wallets. Other wallets can be yours or can be wallets of someone else.

If you sell your bitcoin, you move your bitcoins to an address in a wallet of another person.

You can move your bitcoin by many purposes, one of them is selling your coins, and other purposes can be consolidate your inputs or change your wallets.

Migrating is not like an accurate term technically. With Bitcoin, we have a technical term "Sweeping"
How to add a Bitcoin address to Electrum / difference sweep and import priv. key

[Lucius]

Hello.
On my Ledger Nano I have 5 wallets.
~snip~

You probably don't even realize that you have a much bigger problem because you're using a device from a company that has already had two major data breaches (one recently) involving all customer data. Anyone who still uses their devices should know that they are the target not only of hackers but also of possible physical attacks.

Additionally, you are using a device that can extract your seed remotely and send it to third parties. With all that said, your concerns about legacy addresses seem pretty trivial.

[Donneski]

On my Ledger Nano I have 5 wallets.
Two of them is legacy wallets.

Legacy (P2PKH) wallets are still valid and supported by the Bitcoin network. They are not obsolete in a way that makes them unsafe just that they’re just less efficient compared to SegWit or Native SegWit addresses. So having funds in legacy wallets is not a security risk by itself. The main downsides are higher fees and larger transaction sizes.

Is it safe to sell funds from legacy wallets?
I have my 24 words seed.

Yes, as much as I know, it’s safe to spend or sell from legacy wallets as long as your device and seed are secure. The transaction will be processed normally by the network.

If you want to optimize, you can send funds from legacy to a SegWit or Native SegWit address to reduce future fees but that's actually optional. Security-wise, legacy is fine, what really matters is your seed phrase.

[Forsyth Jones]

Hello.
On my Ledger Nano I have 5 wallets.
~snip~

You probably don't even realize that you have a much bigger problem because you're using a device from a company that has already had two major data breaches (one recently) involving all customer data. Anyone who still uses their devices should know that they are the target not only of hackers but also of possible physical attacks.

Additionally, you are using a device that can extract your seed remotely and send it to third parties. With all that said, your concerns about legacy addresses seem pretty trivial.

It would be better if he migrated to a brand with a better reputation, such as Trezor, which is plug-and-play, more intuitive, adapted for new users, in addition to being a pioneer in hardware wallets. I recommend buying the Trezor Safe 3 or later (since previous models are no longer available for purchase on the official website, regarding buying from resellers, make sure to buy from a reseller authorized by the manufacturer), creating a new seed, backing up this new wallet, and gradually transferring funds to more updated accounts addresses, such as p2wpkh or p2wpkh-p2sh.

I believe the OP already got all the necessary answers in this thread, so he should already understand that still using p2pkh (legacy) addresses doesn't make his coins insecure. In fact, it's even good to use all 3 or 4 address types. Some wallets like Bitcoin Core, set the change address type used in the destination address where the user is sending the payment, which even improves privacy a bit.

So OP, you're not entirely wrong in still using legacy addresses, and you don't need to "migrate" funds to updated addresses urgently. Simply transfer what's necessary, taking all necessary precautions such as copying the address correctly (and always checking it, as there is malware that replaces addresses on the clipboard).

Using legacy addresses doesn't represent security risks to you, you'll just pay more in transaction fees (about 40% more in sat/B). I still use legacy addresses, as well as all address types, to improve my privacy on the network a bit.