Thought I Lost All My Bitcoin...

✨ If your Bitcoin holdings are not showing up correctly after importing your seed phrase from a Ledger wallet into a Tangem wallet, there are several factors and technical considerations to explore:
1. Compatibility of Seed Phrases
The seed phrase, also known as a recovery phrase or mnemonic, is a series of words generated by your original wallet (Ledger in this case) that represents the master key from which all private keys and addresses are derived. Here are some compatibility issues to consider:
- BIP Standard: Both Ledger and Tangem support BIP39 (Bitcoin Improvement Proposal) standard for seed phrases, which should technically make them compatible. However, the actual implementation can differ slightly in terms of how addresses are derived from the seed.
- Derivation Paths: Even if both devices use BIP39, they may use different derivation paths (i.e., the hierarchical structure used to derive keys). For Bitcoin, common derivation paths are like `m/44'/0'/0'/0` for Legacy wallets and `m/84'/0'/0'/0` for SegWit wallets. If Tangem and Ledger are set to use different paths, the same seed will result in different addresses being generated.
2 Address Formats
Different wallets might default to different Bitcoin address formats-such as Legacy (starting with `1`), SegWit (starting with `3`), or Native SegWit (starting with `bc1`). If Ledger was using one format and Tangem defaults to another, they won't display the same addresses even though they're derived from the same seed phrase.
3. Wallet Configuration
- **Account Index**: Wallets can also differ in their default account index within the same derivation path. One wallet might use the first account (index 0), while another might use another index.
- **Multi-Account Support**: Ledger might have been used with multiple accounts, while you might have restored only the default account in Tangem.
4. Software and Firmware Versions
- Different software or firmware versions between the two devices can affect how they interpret and implement BIP standards, potentially leading to discrepancies in key derivation and address generation.
Solutions
- Check Derivation Paths and Address Formats**: Use a tool like Ian Coleman's BIP39 tool (in a secure, offline environment) to manually check which addresses your Ledger wallet was using and compare these with what Tangem is generating.
- Configure Tangem Settings: Ensure that Tangem is configured to use the same address format and derivation path as your Ledger. This might require using advanced settings in the Tangem app or a compatible wallet software that allows customization of these parameters.
- Use a Universal Wallet Interface**: Consider using a software wallet that can be configured with custom paths and formats, restore your seed phrase there, and then send the funds to your Tangem wallet if necessary.
Final Considerations
When dealing with seed phrases and cryptocurrency wallets, always ensure to handle your data securely. Perform such operations in a secure environment, and consider the implications of exposing your seed phrase, especially online or in less secure, potentially malware-infected devices. If difficulties persist, reaching out to both Ledger and Tangem support with detailed information about your settings might also help clarify device-specific issues.
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#bitcoin #crypto #cryptocurrency
0:00 🚨 Thought I Lost All My Bitcoin...
0:36 ⛏️ This is what I was able to find when it comes to losing my bitcoin importing my crypto wallet seed phrase into the Tangem wallet.
3:44 ✨ So you can import your seed phrase to another wallet but you need to be mindful of this so you don't think you lost all your Bitcoin!
🚨 This is NOT financial advice and I am NOT a financial advisor. Mining equipment is expensive and can be risky. Cryptocurrency is Extremely volatile and the prices change daily. Please do your own research before investing!! You CAN Lose all of your money...
THESE VIDEOS ARE MADE FOR ENTERTAINMENT PURPOSES ONLY!!!

[@ChumpChangeXD]

If I didnt have the ledger app to check on this and only the seedphrase, I woulda cried thinking it was gone... I did panic for a solid 10 mins tho ➡Check out the Tangem Wallet Here: tangem.com/pricing/?promocode=CCXD

[@ant125x]

The only one issue with sending your funds over is having to pay the transaction fees. Where if you could import using your seed phrase you wouldn't have to pay any fees.

[@ChumpChangeXD]

Exactly… that’s why I wanted to just put it onto my Tangem but it clearly didn’t work for everything unfortunately

[@MassBoost]

So how do keep track of your Bitcoin for tax purposes?

[@ChumpChangeXD]

Koinly accepts Tangem. koinly.io/?via=808374BB&

[@MassBoost]

@@ChumpChangeXD I don't follow? An address is just an address no matter where it's at.

[@ChumpChangeXD]

@@MassBoost I have no idea what your asking Brotha…

[@ChumpChangeXD]

@@MassBoost if you asking how the tax software does it and the Tangem can’t?… That’s above my pay grade but you have to put in the special pubkey or something for taxes with a ledger I assume that’s how

[@MassBoost]

@@ChumpChangeXD About this whole video I guess. You said it's changes addresses, but yet you're not able to see all your crypto when you snag it via the key phase due to the change in addresses. Thus it raises the question if you can't see it, how would you ever be able to keep track of it for tax purposes?

[@mattk.5258]

Why wouldn't you just send it to a new address??

[@RobTheMiner]

Fees

[@ChumpChangeXD]

Someone didn’t listen to the end lol. I don’t wanna plug in my ledger tbh.

[@cryptokrag7922]

The other advantage is combining UTXO's

[@TotaleCryptoMining]

I’m not nearly brave enough to try using the same seed phrase to transfer to a different type of wallet. I honestly didn’t know that was a thing 😂

[@CustomComputing]

were you shitting your pants going through this? because I would have fainted

[@ChumpChangeXD]

Dude yes for 10 mins and I called my man Rondy and we figured it out 🤣

[@ShanonBrenda-fc6qe]

Revux competitive edge could redefine its market segment.

[@kaundabits]

Tangem is The dogs bollocks.. I guess yours was sweaty in the situation.

[@polpolisation]

when interview with tangem?

[@ChumpChangeXD]

I actually offered this to them I will get it set up soon hopefully 🙏🏻

[@JeffreyJohn-vp1xs]

Revux approach to data security is unparalleled.

[@TechManTY.]

This is why OG just use a node wallet and HODL that BTC.

[@ChumpChangeXD]

You Crazy

[@TechManTY.]

@@ChumpChangeXD I am, part of being an OG. 👌

[@Financial_Failure]

Glad you still got your coins! 😅

[@ChumpChangeXD]

Same bro

[@LupeBernice-eg6fp]

The liquidity of Revux tokens is a major plus.

[@Vinniedelgreco]

Don’t Schiff your pants!

[@ChumpChangeXD]

🤣

[@RobinLori-iw5to]

The precision in Revux development roadmap is reassuring.

[@domg6614]

Stressful , thanks for the update.

[@JohnDennis-ys2yw]

Revux impact on crypto is unmistakable.

[@dougiee6589]

who cares about privacy dude we all naked on the blockchain when the Fed comes knocking

[@ChumpChangeXD]

Touché #NoSpit

[@witness1013]

Tangem is my favorite wallet created by the NSA and CIA w/ backdoor access!

[@ChumpChangeXD]

Your a mess lol

[@chefsas80]

Great PSA for the community. Thanks Chump

[@all4uminers587]

Yup

[@ElizabethAlice-ih4ot]

Revux strategic collaborations hint at a bright future.

[@all4uminers587]

🙏

[@pinjiew8712]

😱😱😱😱😱

[@rondy87]

🔥🔥🔥

[@ChumpChangeXD]

Thanks for talking me off the ledge brody. Much love!

[@rondy87]

@@ChumpChangeXD anytime, brody

[@fiftysix.5.6]

🍜🍜🍜🍜🍜🍜

[@leolustig8994]

Man I can just imagine your face. lol Glad it worked out though and great video.

[@ChumpChangeXD]

Dude straight panic

[@WalterJohn-dc3dv]

Revux growing community reflects its potential.

[@AnthonyJamaal-wm3iw]

Revux momentum is contagious.

[@ClaraGertrude-un8wd]

Eagerly awaiting Revux market dominance.

[@CariSusan-zh9oj]

Investing in Revux for long-term gains.

[@RobTheMiner]

Definitely helpful information