nostr:npub1p82f73cgrsdqduz2lknznz8ry5ey02xfdsw5aup9m3mpnk7z89pq8qwweu nostr:npub1nje4ghpkjsxe5thcd4gdt3agl2usxyxv3xxyx39ul3xgytl5009q87l02j . You couldāve guessed it
Discussion
Nice one š¤ have fun setting it up man
Thanks. Iāll probably have a few questions about it aswell. Also, not sure if thereās a better timing to transfer my #btc due to network fees or anything. Really need to check that out again š
Itās the best time to sort out your utxos to be fair š¤
I knew these kind of comments would come. But ehm, Iām not sure what you mean by that
Since you are creating a new wallet. You can combine previous transactions you received on your current wallet (Which are held in what is knows as a UTXO) into one larger UTXO.
This helps make future transaction cheaper.
If you are coming from an Exchange, you donāt need to worry about this.
Iām coming from a different wallet. But IDK, canāt I just transfer a small amount first, as a test. And then the rest?
You can do that, yes. That would combine all of your old UTXOs (transactions, essentially) in to one big one
And that would be the right thing?
Absolutely. Thats always the recommended path.
Not just that, a reset is also recommended. Better with no coin in the wallet.
A reset of what?
Reset of the your new Jade.
Like set it up and all, the. Try to reset and restore and see if you able to do it.
And if you already made a transaction on it (in and out) once you restore you should be able to check if you ended up in the right wallet.
But why? Safety measurements?
Just to make sure you back up seed phrase (and paraphrase) are 100%
K. I can agree with that.
The reset is to make sure that you can recover the wallet if something were to go wrong
Remember that if you have the jade then it needs to be used to recover funds, you should check that you can recover the wallet on the jade
Okay. Will do that. But first Iām looking into this UTXO thing
UTXOs basically are receipts for how many days you have, but theyāre batched by what is left over from a transaction. Let me know if you need help bud
That āleftoverā part, could you explain that?
Just installed electrum and connected my ledger device. And now Iām stuck lol
Sparrow wallet is better for UTXO management. And itās very very easy.
You can also check nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 video on Sparrow wallet. Which goes into all the details.
IMO Sparrow > Electrum.
Yeah Iāve never used electrum but sparrow is okay, not very intuitive in my opinion but itās good