182 sats \ 8 replies \ @0245bdaef2 19 Mar \ on: Opening your keys in different wallets bitcoin_beginners
First off, you’re going to want to stop putting your seed phrase into all of these computers and software. A good rule of thumb is that anything connected to the internet should not ever touch your seed words.
Next, go back to the original software and find the derivation scheme to make sure you’re getting it right. You can verify this by checking to see if the addresses match. If they don’t, you may be using the right seed words but the wrong derivation path.
Once you find your friend’s funds, you’ll want to get her a hw signer such as a coldcard, jade, foundation, or similar. Stick to BTC only hardware if you can. Use that device to generate a new seed phrase. Move all funds to that new wallet.
Agree 100%, I'm aware of the risks of software wallets. It's just that in my opinion, for beginners who have unsignificant stacks, I prefer let them first learn basics and make sure they understand the point. So long their keys are written offline I think it's "ok" (even though of course one can argue about the way the seeds are stored inside the software plus the risk of downloading a fake one. I did verify PGP keys etc.. before using it).
Throwing them in the HW setup may wait for a more substantial amount, with security measures growing with the stack, no need for a straight up full fort knox battle plan. All about baby steps so they feel comfortable and in accordance to their technical level.
I also thought about the derivation path. It's a concept I'm not yet fully familiar with, though. Thanks for the tip about the addresses, will do that -)
(And that's also the thing with Wasabi, I couldn't edit the derivation, it seems, while as far as I could see, it's possible in Sparrow).
And for sure I'll bring her slowly to a HW.
Thanks for chiming in!
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By having her input seed words into an internet connected device you are teaching her bad habits that could lead her to losing her stack in the future. Jade is a fairly low cost hw device that I have found to be fairly approachable for newbies.
Like you said, security setup can evolve over time but I think it’s probably best to set her up with simple good habits. Props to you for helping her learn! And I don’t think there is one right answer here.
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Entirely true, the bad habit is a big point and indeed, the debate for the right way to onboard is still raging :D
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Another noob-friendly option worth considering is a tapsigner with something like sparrow or nunchuk
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Yeah saw those a couple times, looks like a good setup indeed. But nunchuk isn't Desktop as far as I can tell.
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Why desktop over mobile?
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Just a person who refuses to use smartphones and tablets, they still exist :D
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Also works with sparrow, which is desktop. Just needs an nfc reader.
By the time you add in cost of card and reader you might as well go for a proper hw signer
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