If you use your seed phrase once to send Bitcoin, is it advisable that you never use that seed phrase/wallet again? Should you send it all to a new wallet to avoid it being compromised? #asknostr
Discussion
Whatdo you mean by using your seed phrase? Did you put your word's into some website?
No. I'm saying if I did want to use my seed phrase to access my Bitcoin at some point. If I used sparrow wallet or something like that.
Not an expert but assuming you entered the phrase directly into sparrow you now have a hot wallet. Which is probably less secure than a cold wallet which is a device that doesn't touch the internet directly.
Hear cold card is the best.
That way you should be able to keep your seed phrase safer.
In theory just signing and broad casting transactions shouldn't be insecure in either situation.
Its more about the risks of someone figuring out your seed phrase
I haven't done anything like that. Just talking about hypothetically about travelling with bitcoin. Not ideal to do with a hardware wallet in case it gets lost, stolen etc. But I previously reposted a good solution to the issue. Thanks for your reply. I definitely won't put my seed phrase directly into a laptop haha
If it'd the seed signer thing I've read there's some issues with using the pi platform securely compared to a dedicated device. Larger attack surface I think was the main isue.
Did you ever check out
https://m.youtube.com/watch?v=4ycgRfkgTpQ
Its got the hotwallet issue but if you just need to escape maybe its good enough?
Ohh interesting. I'm going to watch this video now.
use an air-gapped method to interact with your seed phrase whilst using Sparrow.
Thanks a lot mate
It's good to see how it works under the hood.
The rough steps once you have a 12-/24-word seed phrase involve juggling the non-sensitive data from an air-gapped device (SeedSigner) to your internet connected device (Sparrow on a laptop) using QR codes:
1. Load your seed phrase into SeedSigner
2. Scan you master public (xpub) key from SeedSigner into Sparrow
3. Create a partially signed transaction with Sparrow.
4. Load this partially signed transaction into SeedSigner.
5. Fully sign the transaction with SeedSigner.
6. Load the fully signed transaction into Sparrow.
7. Broadcast the fully signed transaction with Sparrow.
and voila ... The fully signed transaction gets propagated through the network via bitcoin nodes and hopefully get validated by a bitcoin miner shortly after.
Try these steps with a small amount of bitcoin until you become more comfortable.
That's really helpful. Once I've done it once or twice I'll be confident. I'm going to repost so other people know. Thanks again