Do not send your bitcoin to a hardware wallet until you test it first! Use a small amount, like $10. Make sure it shows up in your hardware wallet. Factory reset your wallet. Plug your seed phrase back into your wallet and make sure your bitcoin is still there. Then, send the bitcoin back to the exchange. Use a small amount and get comfortable with it before you send your full stack!
Oh, and watch these two videos too because they’ll help:
– Learn about the mempool: https://youtu.be/DW4_zDSufhQ
– Learn about UTXOs: https://youtu.be/X6d4AaG6RYA
🔥 Join the FREE course: https://www.thebtccourse.com
Did this video help you? Show some 💖 https://www.thebtccourse.com/support-me/
Hey what’s up it’s Nathan here with thebtccource.com and in this video I want to talk to you about something very important and that is don’t send your Bitcoin to a hardware wallet you know a ledger or treasure or a keystone or a cold card or anything like that until
You’ve tested it first okay you don’t have to sit there and take your entire stack that’s on coinbase and send it to your Ledger and not really know what you’re doing what you want to do is send a small amount first you know send ten dollars worth of bitcoin to your
Hardware wallet watch it show up there wipe your Hardware wallet clean you know factory reset or factory restore plug your seed phrase back into your Hardware wallet plug it back in your computer and see if your bitcoin’s still sitting there in your wallet like you think it
Is and then take it and send it back to the exchange make sure that you can receive and send your Bitcoin make sure you can wipe your device add your C phrase back to it and make sure it all still works and just do it with ten
Dollars okay if if you lose ten dollars so what if it gets eaten up with fees so what at least you’ll know that it works I’ve had too many people message me and be like I have lost everything and I can’t find my Bitcoin and all this
Stress can be resolved if you just test it first with a very small amount don’t send your full stack right away send a very small amount make sure it works and also I do recommend watching this video that I have on the mempool so link a description down below it’ll help you
Understand how the Bitcoin blockchain Works how fees work how the Bitcoin is going to arrive in your wallet and all that type of stuff and also I have a video on utxos or unspent transaction outputs that I also recommend watching before you go and you do an on-chain
Transaction so yeah do a small amount test it all out watch these two videos and then you’ll be okay and so that’s it for this video I’ve just had too many people come to me in a panic and it doesn’t have to be like that just do a
Small amount and test it out get comfortable with it before you send that full stack all right take it easy
18 Comments
This is good advice!
Tks, Nathan, for your valuable contributions!
Probably a good idea to split it up to more than 1 wallet so u don’t hold everything in 1 place
Was that intro at the start a nod to John from foodwishes? Has the same cadence. Really rolls right off the tongue.
I actually sent SHIB to the ledger under ETH network (Instead of SHIB/ETH Network) The ledger shows an increased in ETH account , instead of SHIB (sub account under ETH). My question is, did I just converted SHIB into ETH?
🔥 Join the FREE course: https://www.thebtccourse.com
Did this video help you? Show some 💖 https://www.thebtccourse.com/support-me/
Hello I sent all my bitcoin to my Sparrow wallet. I am confused. Now that all my bitcoin is in my Sparrow wallet is it safe? Before I sent all my bitcoin I sent two transactions of 20,000 sats each from my swan account to my Sparrow wallet. I then tested the cold card by sending small amounts of bitcoin from one wallet to another and using my coldcard to complete the transaction. I thought I had a handle on it but now Im kind of nervous.
Good advice right there
Fishing title? I thought you'd say not to send to Hardware wallet, when you're actually advising how to…
I have a question I've been searching for an answer on but can't find. How do you actively trade from a hardware wallet – or can you? Is the hardware wallet only for crypto that is in long-term storage for invested crypto that is not to be bought and sold on a daily/weekly basis? How do the smart players who "daytrade" keep their crypto somewhat secure? Thanks!
Don't do clickbait titles. It's cheap.
I didn't think about the part where you wipe the wallet and put back the seed phrase. I knew to test a small amount for sending and receiving. I was just about to send my BTC too. Glad I saw this before doing so. Thanks.
How to send cheap now the fees is crazy high
Thank you, god bless!
IM a newbie to crypto.. Is sending from an exchange to an offline wallet a taxable event – it looks like a sell to me ? i cant see any feature on the exchange the allows a "transfer". Any help much appreciated.
Excellent advice! Everyone, please do this. Don't assume that the hardware and software (in the associated app) is flawless. even if your hardware wallet gets glowing reviews (ala Ellipal, Keystone). Good advice below below about splitting your assets among multiple wallets. If you have serious coin, consider 3 hardware wallets. These steps can avoid tragedies.
That is the best advice ive heard in a long time. ❤
freaking clickbait!