3 years ago

307

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:
https://www.amazon.com/gp/product/B08RX8Q4ZQ/

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":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5

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.

Loading comments...