About non KYC Bitcoin…
Is it ok to create a second account in ledger live to store the non kyc coins?
I am not talking about creating a second seed but an additional account within one seed.
Or will this still be linked if i store kyc coins in another account on the same device? 🤔
Run a node first
The UTXOs are the thing to keep separate, as this is what is used for chain surveillance.
If this separate account generates separate addresses that never interact with the KYC addresses , then this is acceptable as far as I'm aware. So long story short, yes. Once you get your new hardware wallet ,coldcard for example, it will be easier to implement what others have suggested here, ie. custom derivation , passphrase.
I personally think a custom derivation is unnecessary and complicated, a simple passphrase is more than sufficient in order to separate funds.
Thanks mate 🙏
How can i be sure the utxos don’t interact with eachother?
Will it help to set the second account differently ? Like first one native segwit and second taproot for example? 🤔
No problem , I'm new to all this too .
The way to keep UTXO's seperate is simple :
Make sure they are never used as inputs for a transaction along with KYC UTXOs.
I wouldn't recommend Ledger for this because I don't think they allow a lot of control over which UTXOs get used in a transaction.
If you send funds from a ledger "account" does it only use coins from THAT account ?
I'm not so sure actually .
They say they generate independent xpubs for each account:
That's definitely working in your favor, but I wonder for example if you had 1000 sats in one account and 1000 in another and you went to send 1500 from your ledger would it "cross over " and use utxos from both accounts to complete the transaction. That would be a BIG no no.
No, i don’t think that’s possible, because you need to choose the accout you want to spend from and if theres not enough funds in it you can’t do it
What are the concerns with KYC Bitcoin?
I am just thinking about building a second non kyc stack on the side… you never know, just in case i might need it some day.
You could use an old phone in airplane mode as your second hw wallet that is also airgapped.
Then you can seperate the concerns. 2 HW wallets for different purpose.
Just an idea.
Cheers 🍻
Thanks, thats what i also thought, but HWs are not cheap 😅 especially if there are so many cheap sats to buy atm 😅
I think in the long run this will be the best way regardless…
Yeah that’s okay.
Just because the two wallets are created from a single seed does not mean they are connected in any way.
So your solution will work fine.
As far as I know ledger has the unique ID of your device, all transactions going to your device can probably be correlated, your non KYC coins as well as your other coins. I can't say for sure but I think you could use your hardware without 'Ledger live' directly with Electrum, and this avoiding information exchange with the Ledger company. Can some Bitcoiner confirm?
That sounds interesting 🤔
