can I use same wallet/private keys twice

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can i use the seed words of my online blockchain.info wallet on a trezor so i create a trezor wallet which has the same private keys as my blockchain.info wallet?And in the future i will only use my trezor wallet for transactions: I will let the blockchain.info unused.

louis14

Posted 2017-08-03T10:50:34.003

Reputation: 1

Answers

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Yes, both Blockchain and Trezor use BIP 39 standard seeds to generate the keys. Keep in mind that if you eventually stop using blockchain, it will still have access to all private keys used on the Trezor still, so it must remain secured, you can't just forget about it.

MeshCollider

Posted 2017-08-03T10:50:34.003

Reputation: 8 735

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Short answer, Yes for the reasons MeshCollector said. Solution: Transfer the coins to a new wallet that blockchain doesn't have. Once the coins are no longer associated with that address, there's no risk if Blockchain.info is hacked. You can add a second wallet/account to Trezor following the steps here: https://doc.satoshilabs.com/trezor-user/advanced_features.html

It's important to remember that who or whatever has the initial setup information you used to create your wallet (which Trezor and Blockchain.info have according to what you've written) can send money or actions using your wallet.

You only need the address to receive money, but you need wallet access to send it. If you send money out of your wallet, then there's nothing to worry about if that wallet is compromised. Simply create a new wallet, don't send it to Blockchain.info, and feel confident that the money sent to that new wallet that you keep on your Trezor remains yours even in the event of a Blockchain.info hack. The steps in the above Trezor link allow you to set up multiple accounts in your Trezor.

fiasco_averted

Posted 2017-08-03T10:50:34.003

Reputation: 1

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The idea behind hardware wallets like the trezor is that the wallet secrets, such as the seed and derived private keys, remain on the device and are never revealed to your PC. To use the seed of a blockchain.info wallet with a trezor defeats the very purpose for which you bought the trezor. I suggest instead that you setup your trezor wallet as you normally would i.e. letting it generate a new seed itself. Then restore your blockchain.info wallet on your PC using software like electrum or copay and send your coins to an address in your trezor wallet.

Note if you choose to use electrum make sure you click on options in the seed entry step and check bip39.

Abdussamad

Posted 2017-08-03T10:50:34.003

Reputation: 1 850

This is just not true. For example, a very common use for a Trezor is to permit your wallets to be recovered by your relatives in case of your death. It's perfectly reasonable to give your relatives Trezor with the same seed as a wallet that you use regularly so even your smaller "hot wallet" funds aren't lost if you die.David Schwartz 2018-07-14T05:13:53.033

@DavidSchwartz that's great and all but it's not the scenario the OP posed.Abdussamad 2018-07-14T11:49:22.667

The OP could have the same thing in reverse, using the Trezor because it's convenient for him and leaving the online wallet for others in case of loss of, or damage to, the Trezor. For example, he may need to access his funds in an insecure location often, so he uses a Trezor rather than an online account.David Schwartz 2018-07-14T18:22:44.180

@DavidSchwartz "And in the future i will only use my trezor wallet for transactions: I will let the blockchain.info unused." Buying a trezor gives him no extra benefit because he's reusing the bc.i seed. If he wants the security benefit of the trezor he should let the device generate a fresh wallet for him.Abdussamad 2018-07-15T19:53:29.593

It gives him a huge benefit. He can use the Trezor from a machine that has a keylogger and that others can possibly image the disks on every day and not have to worry about his keys being stolen as he uses them regularly. Using the blockchain.info wallet that way would be a disaster. He can save the blockchain.info wallet for things like emergency recovery or for use only from secure locations.David Schwartz 2018-07-16T00:54:51.497

@DavidSchwartz maybe it would be better if you wrote your own answer incorporating these suggestions? I for one am sticking by my answer.Abdussamad 2018-07-17T03:39:48.160