How To Switch Hardware Wallets

[@christopheralaimo6504]

Time Stamps 0:00 - 4:40 - Intro / Sponsors 4:40 - 8:04 - Outlining the Problem 8:04 - 9:09 - What NOT to do 9:09 - 10:32 - Migrating to New Hardware (A Quick Outline) 10:32 - 21:15 - Migrating Away from Proprietary Software 21:15 - 28:11 - Moving Funds to Another Wallet 28:11 - 33:26 - Discussing Privacy 33:26 - 34:26 - Full Video Resources as You Migrate 34:26 - 42:15 - Choosing Hardware: Things to Avoid/Demand 42:15 - 43:43 - Outro

[@reidwalley]

I had no idea I could have 2 (and more) wallets open in different tabs in Sparrow Wallet. So cool.

[@theantil7]

Dude i have two wallets in the box just waiting for this video. Thank you

[@MereZen]

Think it's also important to note, people shouldn't panic and make rash decisions. Oftentimes when a person is emotional they make swift decisions, mistakes can be made and funds may be lost. Take your time with weighing the options and the different hardware wallets out there before you move your stack. It's unlikely that your Ledger device will get hacked in the immediate future.

[@oninotsume]

AKA merely zen 😁

[@shawnterrancelynch]

Immediate future or distant future, if there exists the potential for my seed phrase to be acquired by anyone - then why would I use that product or service? This is the beginning of the end for Ledger. In 2022 they stated that access to the private chip is not possible and we have now learned that is not so. The area can be accessed and one poisoned firmware update can become a possible exploit. Whoever comes out with a completely secure method for holding crypto will win. I'm thankful that this has been exposed by Ledger (accidentally) and the entire privacy and security focused elements of the greater crypto community can now shed light on what is truly important.

[@MereZen]

@@shawnterrancelynch I'm not defending Ledger. I think what they did was scummy. To sell a product this whole time while marketing the fact that the seed could never leave the device to now being capable doing so with just a firmware update is a joke. What I am saying is don't panic and make rushed decisions and moves. If you don't update the firmware that should give you adequate time to slowly migrate out. Picking the right wallet, making sure you send to the right address, etc. You're more likely to make mistakes and lose money if you're worried or scared.

[@shawnterrancelynch]

@@MereZen 👍

[@googlesmostwantedfrog147]

This video might be useful if a Ledger device ever gets hacked Since that has never happened All these people criticizing Ledger sound like Shitcoiners criticizing Bitcoin Dumb, dishonest agenda driven If the other wallet makers cant think of a better way to market their products then they deserve to be marginalized Negativity does not sell Better off making videos of Bitcoin Bunnies saying how much they love thier " brand x" hardware wallet But you stupid

[@mauriciobolboa6829]

you are a very good resource, waiting for my mk4 to use it only air gapped , thanks for this

[@b-ryanistryin]

Br Mck • 55s ago Hey Ben, great video, love 'em all! I was hoping you were going to get into "sweeping" funds. I was researching it a while back, but never found any credible resources. Could you explain what sweeping funds is, and when it would be appropriate to use?

[@CouldntCameUpWithAName]

It might have to do with different forks of the blockchain. It'd be interesting to learn more about it indeed.

[@sivakan5873]

tutorial of how to dispose the unwanted wallet in a proper way is definitely one helpful to us.

[@dlukton]

In the case of Ledger, just enter the wrong PIN number three times. In the case of Trezor, there's a "factory reset" option.

[@vimanaboy]

Use the Hilary Clinton technique: hammer it to little bitty pieces.

[@NinjaGaiden-z7t]

use a hammer

[@historion]

Somehow I made the right decisions first, even the one of not buying a Ledger. I was in the process of buying it and had an issue, contacted them and I perceived the answer clearly unfair. I thought rightly at that time "this is exactly what you do not expect from a company in which you must trust to keep your wealth safe". The current issue is another step into the abyss for them. I sincerely hope they can react accordingly in the right direction. Anyone can make mistakes, the trouble comes when they are part of the core business model and are noticed by others.

[@oninotsume]

Brilliant video Benny. The best of it's kind. Nice to have some disruption to the custody issue to really wake people up.

[@shadowmerchant]

Thanks!

[@flamenco1]

Excellent and most important update to increase BTC security at every level. My ledger is 6 months old and it quit functioning as it will not accept the password...the fun begins.

[@j33prang]

Really interesting and so thorough, you have appeared to looked at everything which is so helpful.

[@MrJamesmister17]

Is using Ledger with a passphrase in addition to the seed phrase an option to protect yourself? Is it likely for Ledger to have a hold of your passphrase?

[@alyounkin]

Does sparrow gain access to your seed phrases, Does putting your wallet on sparrow add an attack vector?

[@BTCSessions]

Sparrow will have no access to your seed if you use hardware with it. It merely shows your balance, allows you to accept funds, and lets you set up a transaction to be approved by your hardware.

[@smallqwaro]

What happens when your ledger dies? When you get a new one how do you go about setting up everything? I'm guessing you'll use your old seed and restore the waller on the ledger using sparrow, or will yoh create a new seed and transfer the funds? But then you don't have the key to verify that transfer. Please help with this.

[@smallqwaro]

​@@BTCSessionsWhat happens when your ledger dies? When you get a new one how do you go about setting up everything? I'm guessing you'll use your old seed and restore the waller on the ledger using sparrow, or will yoh create a new seed and transfer the funds? But then you don't have the key to verify that transfer. Please help with this.

[@OG-gv5hl]

Do you think a Trezor One is safe or worth migrating?

[@Leeds1919LUFC]

What happens if you setup a secret wallet in Ledger but then you wanted to migrate to something like Coldcard? How do you transfer funds? I guess you could generate a new seed and wallet on Coldcard and then send the Bitcoin to the new address? But what if you wanted to keep the seed phrase. How do you import a seed which has 25 words and a PIN you setup on Ledger on a new device?

[@NotMe-wh5vb]

Did’nt you watch the video? He recommended that you do not use the same seed phrase on your new hardware device that you used on Ledger. It defeats the whole reason for migrating your Bitcoin to a new hardware device.

[@iafan3997]

Does creating a Bitcoin node help with anonymity when sending from ledger to coldcard? What can one do to ensure privacy with the transaction?

[@michaelzarifes8395]

Hi Ben, Love all your content regarding migration from Ledger Nano! After hearing all the news regarding Ledger and their firmware updates and possible restore feature I was a bit concerned to say the least! After seeing your video, I have a much better idea of how to possibly approach the situation for greater security and privacy! Thanks again, Michael

[@sivakan5873]

right on time, I appreciated to you being savior

[@bitcoinjc]

As always Fantastic and insanely awesome, crazy informative.

[@b-ryanistryin]

Hey Ben, great video, love ‘em all! I was hoping you were going to get into “sweeping” funds. I was researching it a while back, but never found any credible resources. Could you explain what sweeping funds is, and when it would be appropriate to use?

[@n8r79]

I was just thinking to do this the other day!! 😃 👍

[@BasicBeachCommunity1]

IRS, FBI, CIA,KGB,CCP have entered the chat

[@ascendrio]

lmao

[@dereksbooks]

What about the ATF also? They MAKE firearm laws now. Why not finance laws too?

[@1rjona]

@@dereksbookshe SEC , CFTC and FED would be annoyed if ATF go into their territory. Just inform them who’s bank account they need to seize

[@dlukton]

Might well be that that is literally true.

[@MohammedFouadHafiz-bp5ew]

Or stay @F which is my first letter F Fouad Choose :@F.✔️ Instead of :ATF❌

[@TheOrangeCowboy]

Great info thanks. Did you say to stop the tracks of your BTC either sell btc and rebuy on decentralized exchange or cosign to hardware wallet then move to cold wallet? Do these two options do the same thing - stopping tracking? Thanks

[@arianekunzli9903]

What a great channel ! Very informative ! thank you for the quality content :)

[@vimanaboy]

What is the advantage of migrating from Ledger to Jade thru Sparrow vs restoring from seed words?

[@teru797]

Coin Joins are not very private. You want to use a coin mixer or swap to XMR and back.

[@dlukton]

Yes. But I don't think anyone should bother with that unless he does both of the following: (a) use a wallet... such as Sparrow... that allows one to keep individual UTXO's separated, and (b) runs his own bitcoin node.

[@ikust007]

@@dluktonyou mean I should NOT use Sparrow if I am transferring from a ledger ?? Thank you

[@dlukton]

@ikust007 I am not.... at all... arguing against the use of a Sparrow Wallet; quite the contrary, in fact. The point is just that if you want to achieve a benefit from a bitcoin mixing process, you have to use a wallet (such as Sparrow) that allows you to keep the UTXO'S separated at every stage of the process.

[@boz7865]

I heard somewhere that if you coinjoin and then try and sell your bitcoin on an exchange, the exchange is likely not to accept it? Any thoughts on this please?

[@pieteroudshoorn2421]

Can you tell me /how to put it on trezor (from ledger) and how to work with the Monero wallet on ledger. Greeting from Holland

[@zm4581]

Have you done a video on the Icoin Wallet? Tandem wallet? Someone suggested these two cold wallets, if possible can you please do a tutorial on this wallets. Thanks.

[@Plebsters21]

I migrated from Ledger to cold card MK4 but I used the same seed phrase when I setup the new cold card. first, what are the drawbacks of doing this? And what is the best way to reverse it and setup a new seed phrase on the cold card?

[@formetoknow540]

Literally no point u need a new seed

[@PoppyRaid]

Ola, hey is there a best process for paper wallet to multi paper wallets if and when the need happens ? Thnks ✌️👍

[@sitsaz5069]

what if i have something like LTC or DOG on my ledger , will it be transferred to sparrow ?

[@SuperDesignguy]

Ledger had stated that there is no way your private key from the Ledger Device could be extracted, then they offer this service along with updated firmware that negates the previous promise. Even if you don't "opt in" - they have a way to get your private key remotely. With closed source code we have to trust that prior to updating to new firmware they can't extract private key.. and now that we know new firmware allows this, could there potentially be a hack in updating that would facilitate this in the future. Essentially.. our ledgers have a back door and we don't have any clue who what when can get our private keys. This is a disaster. - As it stands, for those of us that are not Maxis, there really isn't a solution that compares to ledger. The vast numbers of decent projects outside of ETH and BTC ecosystems that developed hardware wallet support did so for ledger only.

[@jayemaronilla]

very helpful. given tips are well-explained. straight-forward

[@kevinmoorhead9856]

Ben thank you for making this vid. Can I transfer funds from an outside source directly to sparrow or do I need to use my Trezor and then transfer from Trezor to Sparrow to my cold wallet. I am trying to reduce a step and wondering if it will work. Mucho gracias.

[@boz7865]

hi Ben, great video, thank you. When you hit max send you only had one address, however, most people will have multiple addresses to send from say ledger to another wallet. If you had say 10 addresses for example to send and you hit max send, how would this appear in sparrow and the wallet you sent the transactions to? Would it not be more private to send each address individually? Is this possible and how would you do it? It is also necessary to keep records of the dates of the original transactions which is necessary for accounting purposes and to see FIFO transactions so if you need to sell you would sell from earlier dated transactions (addresses) Could you please clarify this? thank you.

[@bert8807]

I love this vid. I wish you had shown how to import the ledger into sparrow. But still a great vid.

[@rickcea1017]

Can I use my Trezor Seed words and create a Coldcard MK4 new wallet???

[@VortexRadar]

I love your thumbnails! Is it okay if I ask for a referral for who creates them?

[@formetoknow540]

"A lot of out puts trezor warnings" on the hw via sparrow what dose this mean im trying to move from trazor to cold card

[@robert6026]

Wow! Ben, knocked it out if the park!

[@atom3850]

That was great and so timely, thank you!

[@whuggs143]

What about the etherum and ERC-20 tokens housed on ledger and want on sparrow . Is there an option to getting erc20 token off ledger ?

[@ScubaMan2024]

When i click on transactions no transactions are available?

[@roadrunnergtx68]

Hello Ben, Thank you for everything you are doing. Do you have a video on how to migrate BTC from one hard to another hard wallet. Regards

[@HeikoGerhardvanDelden]

Hey Ben, great video! Let me ask about privacy, breaking the link of tracking. Question: if I use a bridge to move btc onchain to lightning and then forward to onchain again, did the link break? Because as intermediar user I don't feel confortable use mixer. Best regards Heiko from south America.

[@cesuntbanii]

from what i understand, a hop onto lightning and maybe a few hops within lightning and then onchain again break past ties for your btc

[@dimitrikatsaros9212]

Given that the original Nano S has such a tiny amount of storage/RAM, it is by design -- for now -- SAFU against recover and similar kinds of security risks, correct?

[@vincentvainunska183]

Thanks for your work, it's best in class!

[@walecious1]

can you pls share devices that do not require initialization with the proprietary software of the manufacturer

[@smallqwaro]

Does ledger work with electrum?

[@sickness6240]

Hello!!! I'm from Argentina and I'm not very good with English, so the KZbin translator helps me a lot to follow you. Sparrow on the PC I don't have to worry about this, right? Since the private keys are in the coldwallets, are they not in danger by connecting to Sparrow?

[@vedicwarriorOriginal]

You beauty! Just the tutorial I was looking for! Thanks, mate. Would love to know how to collect all the 'dust' I have in various wallets. Any suggestions? Over the years, I've been transferring between wallets and sometimes Sats get left behind. Are they gone forever or can I collect them into something sizeable enough and consolidate into my current wallet? Hope that made sense. Cheers, mate! 👏👍

[@eloiaragao]

Hi Ben, thanks for the video, can you tell me if i can continue to use my ledger nano s with sparrow after june/2024 when the updates for this model will be no longer avaliable? greetings from Brazil!

[@astrosaur13]

Would you recommend Jade hardware wallet or are there any concerns there? Thanks for the great video!

[@BTCSessions]

No problems security wise with Jade IMO. Open source, can be used with 3rd party software. I think it may be required to use Blockstream Green to update the device tho, so that's one tradeoff.

[@georgedickens261]

many people are opting for the seedsigner instead of a hardware wallet, can the coldcard be used as just like a seedsigner too without storing the private keys? if so could you make a video on how to perform a transaction with coldcard like a seedsigner would please?

[@pshyeah1128]

So are my funds on the Blockstream Jade (Device I’m using) or are the funds on the Sparrow Wallet?

[@sondredahl4682]

I recently purchased a Cold Card MK4 and successfully set it up by connecting it to Sparrow using a micro USB. After adding some sats to my account, I realized that I should have utilized a micro SD card during the Sparrow account setup to avoid any physical connection between my Cold Card and PC. Now, I'm wondering if it's possible to delete the existing wallet and create a new one. My plan is as follows: Transfer my sats to another account. Restore the Cold Card and instead of importing, select the "New Wallet" option. Will this process reset everything except the PIN?

[@rayschwarten530]

Have. You looked a Tangem?

[@jermination5289]

Can I have both a seed with KYC sats and a seed with nonKYC sats on the same cold card using seeds derived from my main seed?

[@davidhodge144]

I followed the instructions to get my Ledger connected to Sparrow and I now see my balance on sparrow but I also have a separate Wallace on my Ledger for my son’s balance which isn’t showing up on sparrow. Any idea why??

[@ScubaMan2024]

Could i use Nunchuk instead of Sparrow for this exact same scenario ?

[@victorvictor8453]

Hey Ben, if I have already setup my Sparrow Wallet with a single signature (to get funds off Ledger), can I at a later time switch and change it to multi-sig?

[@GoodGuyBiker]

good stuff Brother very timely content!~

[@vincentvainunska183]

what if I have 2 different accounts, both under native segwit but when i import, it only imports one of the two. i can't manage to add the other wallet to sparrow

[@danielsmith6896]

Is it possible to just use the Ledger as a signing device on a new software wallet and XPUB or is the whole thing trash?

[@Leeds1919LUFC]

If I was worried someone knew my public address, could I not just send the Bitcoin to an exchange and then from the exchange I could withdraw the Bitcoin again to a new address and the person couldn't follow the transaction (assuming they don't have access to my exchange account)? I'm thinking of a scenario where I buy a small amount of Bitcoin, withdraw it to my hardware wallet and address. Then I buy a lot more Bitcoin and withdraw it to the same address. My address is then compromised (not my seed phrase, but my address) and I want to move all my Bitcoin (now quite large) to a new address but I don't want to be followed via the blockchain.

[@one5749]

Ledger supports more than bitcoin will coins and tokens also show up in Sparrow? Appreciate your content, always.

[@juanllauro3799]

Hi Ben. Awesome video. Thanks

[@coachdefitness]

always nice videos and great information. thanks. just to reconfirm. I have a trezor wallet and want to use in in sparrow. I understand that I could use my wallet in sparrow but also in trezor suite, correct?

[@BTCSessions]

Yup that's absolutely right!

[@coachdefitness]

@@BTCSessions and when use my trezor for recovery will it obtain all the type of accounts in the wallet, I mean segwit, taproot, etc?

[@BTCSessions]

@@coachdefitness yes you'll have access to all address types, but you may need to specify which you want to see. In sparrow during import it will be one of your options.

[@coachdefitness]

@@BTCSessionsso first it downloads 1 type, then I do it again for other type of account?

[@soikot007]

Blockstream green won't be able to connect to ledger, even with legacy bitcoin app.

[@ricko_1965]

Maybe this is a dumb question but what if I'm using Sparrow Wallet on my laptop (with Coldcard) and my laptop is lost or stollen? I buy and new laptop and download the Sparrow App. Now what? Is there a recovery process? And how would that work? Thanks

[@BTCSessions]

Great question! Firstly, no funds are at risk. Worst case scenario someone could look at the balance and/or send you more Bitcoin. When you get a new laptop, download Sparrow and import your Coldcard xpub like you did originally. Your balance and transaction history will load right up.

[@ricko_1965]

@@BTCSessions Nice!!! Thanks - Feel better about it now.. LOL

[@felipetejeda7545]

The software is irrelevant, you can just redownload the app or any other software wallet and use in conjunction with your hardware wallet. The seed phrase is stored on your cold card not on the laptop. The app is just user interface. If you lose you’re cold card you can still back up your wallet if you properly backed up your seed phrase.

[@michaelquinton6389]

Are funds safe in a Trezor wallet?

[@myaiumba]

Holy shit. Thanks so much. I wondered about this.

[@spraveenitpro]

Hey Ben, addresses begin with 3 - p2sh, how to deal with that when migrating?

[@BTCSessions]

Good question! If you send direct from ledger live to your new hardware then there's no special steps. If you are first moving to Sparrow with your ledger, you'll just need to select that address type when you're importing the wallet 👍 Other than that, no changes!

[@stevenreading]

Great video. Thank you very much! ❤

[@eliezersobel]

All of the info in this video applies only to Bitcoin, correct? Not Eth or other alts that I have on my Ledger device.

[@cadetcaper]

Hello! Was just introduced to you by a friend. Am curious if you are familiar with BC Vault and what your opinion is?

[@nodulonmax3432]

Thank you for this. My Cold Card wallet is in the mail.....

[@underneath237]

Thanks for another great video

[@Ed-ip2sg]

Thanks for this video!

[@peck4933]

great to see ! thank you sir

[@ikust007]

Exceptionnel teacher. Merci!

[@Gismotronics]

Another very useful video, thanks.

[@vpnconsult]

Strong timing!

[@wadewagley4696]

Isn't Coldcard unsecure as well?

[@bobrusou]

Great content!!!

[@aoshiol8495]

Very helpful. Thanks.

[@itzfifson6140]

Why sparrow and not wasabi? What the difference ?

[@nodems613]

is sparrow safer?

[@anntaylor5948]

If my BTC in Ledger had been coinjoined a year ago for security/privacy purposes, before Ledger came out with this new Recover service, do I still need to do another coinjoin in Sparrow before sending it over to a new cold wallet? P.S. I respect and trust your recommendations. I love your videos. Thank you in advance.

[@BTCSessions]

Great question! If you've already done coinjoin then you can just send to your new hardware, BUT you should send it over one UTXO at a time. I've got a privacy playlist on the channel and there's a video on UTXO management there!

[@dlukton]

I'm pretty sure that coinjoin... and bitcoin mixers.... are worthless UNLESS you keep the resulting UTXO's separate. And, of course, Ledger doesn't provide any provision for keeping UTXO's separate.

[@BTCSessions]

Yeah, if mixed UTXOs are co-mingled in a spend it undoes all your hard work. Ledger live DOES have a coin selection tool if you choose advanced when sending, but it looks to be lacking in features a bit. I much prefer Sparrow, which has simple post-mix tools to optimize privacy.

[@eglasb]

Ben, is it possible for governments to blacklist bitcoin that went through coinjoin? Is it possible to say if a utxo went through it? Thanks!!

[@CanesFan65]

I really wish you would do a Video Tutorial on how we can Take a Seed Phrase (24 Words) and split them using Shamir's Secret Sharing. I think the Trezor Wallet does SSS but only if you create it on the Trezor. I want to create my Seed Words on a Cold Card then Spilt them into a 3 of 5 Shares. Do you know if this can be done and how we can do it ....EASILY????

[@dlukton]

I'm no expert on this, but I think that another way to go would be to set up a "2 of 2" multisig wallet that requires two hardware wallets to transfer funds.

[@CanesFan65]

@@dlukton I guess that might work as well . I'm not sure which is best. All I know is this never seems to get any simpler.

[@mrpaddingtonn]

very good video. thank you

[@InspectorApe]

Can you please let me Know if keystone is safe?

[@DJ-6972]

Ben has previously given a thumbs up to Keystone and has a tutorial.

[@KeystoneWallet]

Ben reviewed us before, feel free to check out the previous videos:)

[@DJ-6972]

@@KeystoneWallet You guys have to be loving this Bud Light moment. Just ordered the pro myself. 👍🏻

[@KeystoneWallet]

@@DJ-6972 Appreciate your support ser, feel free to give opinions on our device when you receive it😊

[@InspectorApe]

@@KeystoneWallet last question I have, will you implementing Bitcoin Inscriptions?

[@RomellJoseph]

Great vid. But wen how to bleach tips tutorial?

[@bitcoinpoemspro1406]

Thx Ben!

[@trythatinasmalltown-d7h]

What is your favorite btc hardware Wallet

[@BTCSessions]

I love the Coldcard Q now (updated version of the calculator one in this video). I also use the Tapsigner all the time when I'm on the go.

[@trythatinasmalltown-d7h]

@@BTCSessions i had read about hacks because of the 1 or 2 dice roll someone said that was fixed do you trust this with your life savings on it? what is the tapsigner on it?

[@QuadTap]

the endless firmware updates that some manufacturers do makes me nervous... can't they just stop dicking with the firmware

[@ikust007]

Merci beaucoup