Get the “Ultimate Guide to Bitcoin” course:
https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoin
Use the discount code YT99 to get the best price.
Get my best-selling Bitcoin book:
Join the Trader University email list:
https://www.trader.university/email-list
In this video, I discuss two different ways to move your Bitcoin from one hardware wallet to another.
The first way is simply to import your recovery seed from the old wallet to your new hardware wallet.
The second way is to generate a fresh Bitcoin address using your new hardware wallet, and then send Bitcoin to that fresh address using your old hardware wallet. This method requires paying a transaction fee to Bitcoin miners, as your Bitcoin will actually be sent from one address to another address on the Bitcoin blockchain.
It’s important to recognize that hardware wallets do not store your Bitcoin. Instead, they securely store the private keys necessary to unlock and move your Bitcoin.
Never share your recovery seed online, or enter it into a website, or upload it to the cloud. If anyone has your 12 or 24 word recovery seed, they can use it to steal your Bitcoin.
Not investment advice! Consult a financial advisor.
My favorite hardware wallets:
https://trezor.io/
https://blockstream.com/jade/
https://coldcard.com/
Hierarchical Deterministic (HD) Wallet:
https://www.investopedia.com/terms/h/hd-wallet-hierarchical-deterministic-wallet.asp
Recovery seed:
https://wiki.trezor.io/Recovery_seed
BIP 39 Wordlist:
https://www.blockplate.com/pages/bip-39-wordlist
How to recover a wallet on a Trezor:
https://wiki.trezor.io/User_manual:Recovery
Check out my online trading courses:
https://www.trader.university/join
Use this secret coupon code to get a discount: YT99
Check out my Amazon best-seller, “A Beginner’s Guide to the Stock Market”:
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#bitcoin
#trezor
#hardwarewallets
Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
34 Comments
WARNING: There are a number of scammers who are using my image and
channel name to try to connect with my viewers on WhatsApp and other
platforms to scam them. Just so you know, I will never refer you to
"my personal trader" or try to connect with you personally to sell you
something. I am trying to ban these scammers as quickly as they pop up. You can
always recognize a scammer by clicking on the image and seeing how
many videos he has. All of these guys have zero videos, while I have
hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Trader University from the imposters.
Hey Matt Thank you, This is excellent training information for the masses. Newbies need to know that owning Bitcoin is not the same as owning equities through a brokerage, or having a bank money market. There is no “1-800” helpline to call if you are careless or misinformed about the management/security of your stash. I tell people this all the time when I’m asked about holding crypto. “You need to educate yourself about the asset class before you buy!” I usually suggest they look you up in YouTube to start the education process beyond my warnings. . I appreciate your work brother!! Peace. 😊😊
Looking forward to your response to the Nic Carter/bankless interview.
is nick carter right? crypto is the future, bitcoin is going to die off
"Bitcoin's Achilles Heel isn't technical or financial, but a sociocultural problem. Its worst feature is the cultish arrogance of Bitcoin Maximalism, which eventually drives reasonable & emotionally mature investors away"
Please make review about Casa multisig service.
Seems like the weak link is the laptop/desktop running Windows with its endless keyloggers and exploits.
Thanks Matt for this breakdown. In the past I have stamped my recovery seeds in copper, but I got a laser printer so now I’m laser printing them on stainless steel. I do have a Trezor as well. I realize as I invest more and more into BTC, the value will grow quite a bit over time. I’ve been rethinking how to do this more securely. So this info is very good. I’m going to purchase access to your course and deep dive into this stuff.
I believe the thieving of BTC will be huge in the future, therefore, protecting it will be paramount.
Thanks Again,
Thank you, Matt! So if we use method #1, let’s say you have 1btc on your trezor, and you want to move 1btc from your ledger and not use ledger anymore, what do you see in your trezor once the move is done? Will you see 2btc in one account or will there be 2 accounts that contain 1btc each?
I bought a “Ledger” previously. Am I risking loss using it?
A $68,000 profit sent to my portfolio each week, Mrs. Angela cole carr is amazing.
Hey Matthew. Has your view on growth stocks and btc changed yet now that oil and commodities have tanked , inflation possibly easing, bond yields crashing, the dxy starting to look over extended, and the growth stocks showing strength ? Thanks
Much of the binary options market operates through Internet-based trading platforms that are not necessarily complying with applicable U.S. regulatory requirements and may be engaging in illegal activity. Investors should be aware of fraudulent promotion schemes involving binary options and binary options trading platforms as most tends to take advantage of the stock market crash in withholding the assets of investors
I was scammed from a binary option scam, I was happy to recover all my money back with the assistance of a recovery organization [ALLBONATECH] so happy to share my experience after some threads of lost and crashed investments appeared online now.
A binary option is a type of options contract in which the payout depends entirely on the outcome of a yes/no proposition and typically relates to whether the price of a particular asset will rise above or fall below a specified amount. Once the option is acquired, there is no further decision for the holder to make regarding the exercise of the binary option because binary options exercise automatically. Unlike other types of options, a binary option does not give the holder the right to buy or sell the specified asset. When the binary option expires, the option holder receives either a predetermined amount of cash or nothing at all.
Investor Complaints Relating To Fraudulent Binary Options Trading Platforms via filing your complain to adminATallbonatechDOTorg
The SEC has received numerous complaints of fraud associated with websites that offer an opportunity to buy or trade binary options through Internet-based trading platforms.
Need help afraid to mess it up
So would Exodus be called as a hot wallet?
HODL
Damn it. Didnt know they can hack hard wallets 🙁
Matthew, what if Trezor and/or Blockstream default and they suspend or cancel their services? What will happen to the cold storage wallets? I imagine you could access the assets elsewhere,… but what if there are no other gateways?
So if a scammer enters a random 12 word phrase and it just so happens they are my 12 words or someone else’s the bitcoin is gone?
Can you access one brand of wallet from another? For example, if I were to lose my Trezor, can I access my Bitcoin from a Ledger with my seed phrase? Thanks
Do you earn BTC running a node?
Matthew, thank you for another great video. I have been following your advice and have slowly started down the rabbit hole – purchased BTC on exchanges, hot wallets, cold storage and recently set up MultiSig storage. Most of my BTC purchases have been via limit orders….but I would love more information about how to dollar cost average. Do you recommend using exchange, CashApp, etc.? How often (daily, weekly, monthly)? How quickly do you move to cold storage? I think it would be very helpful to create a video about DCA for BTC. If you aren't able to do that, would love recommendations on where to get this information.
Hey! Thanks for your amazing content! Where can I safely purchase the cold card for BTC? I am scared of fake websites as I am from Germany and there are many sellers for this
Quick story. My girlfriends Coinbase account got hacked today. Someone posing “from Coinbase”called her. She gave them her 2 factor authentication code. Later she called me from a flight. Freaking out. Realized she screwed up. Couldn’t access her account. Fortunately…I helped her download her coins onto a Wallet (that Matthew recommended) a month ago 😎. The hacker accessed her account showing $0.00 Bitcoin. She had nothing on the exchange. She is very relieved. Thank you for your wisdom, Matthew.
What do they mean by saying “take your bitcoin off the exchange” by putting them on the hard wallet if you are saying your hard wallet only stores your seed phrase and not bitcoin. Where is my bitcoin stored? Does it take it off the exchange and put it out in the ether or bitcoin network? Is that the internet?
This is by far one of your best videos Matt. 🤙🏾
What is the best way to buy BTC on NY, and transfer to a cold wallet
Great lessons Matthew!
Thanks for helping people.
This video is an absolute necessity before anyone thinks about buying Bitcoin or crypto in general. Millions are lost because of simple mistakes and not having this information. Very much needed. Thankyou, Matthew.
How do you access your passphrases on the new wallet?
how do we move the crypto from mobile phone apps to hardware wallet.
I'm curious about something. When you say that yuobtuedoesn'tlikeyoutalkingaboutcoinjoinhavetheyactuallythreatenedyouinsomeway?
I will be"moving" my ledger nano btc to a blockstream jade. Do you recommend restoring or sending and incurring fees? Thanks!
With the ledger fiasco would you recommend generating new private key on a newly purchased wallet (blockstream jade)? In case ledger has access to my current private keys?