Excuse my super noob question. This is my first hardware wallet.
I do have a software wallet with funds in bisq. Now that I own a trezor one I would like to import that wallet into my trezor. Is that possible? If yes how? Thank you very much!
Thank you for your answer!
For me it is not even about using bisq. I am fine with using the trezor suite. I was simply wondering if it was possible to import the private key from the bisq wallet, instead of sending coins to a new wallet in the trezor suite.
Hi @1q8448q1 again.
Basically, to import / recover any wallet by using Trezor device you would need to have the recovery seed following BIP39.
So, if you have such a backup, then you can recover that wallet by using Trezor device.
EDIT: Previous reply deleted because it was irrelevant.
I went through that process with my bisq wallet. The trezor suite told me that the recovery process was succesful, but still I don’t see any funds within the suite and also the transaction history doesn’t make sense.
Bisq’s built-in bitcoin wallet is based on BIP-44. I don’t know if that changes anything?
Thank you so much for helping a noob out!
If you had a software wallet following BIP39, you would be given a recovery seed (while making a backup) to recover such wallet by using any other compatible app or hw wallet supporting BIP39, such as Trezor.
Assuming your software wallet follows BIP39 since you mentioned that recovery process by using Trezor Suite has been successful.
If you see any differences in your balance, make sure you always compare the same accounts, and the same addresses.
See this post and make sure you have added all previously used accounts.
Please, beware, when you recover a wallet created by a third-party app, such wallet might not be secured enough since its recovery seed was created (and maybe stored) in a third-party app environment. Hence, if you recover such wallet, and use it with Trezor, the seed of such wallet, stored now on Trezor device, could be theoretically compromised.
TL;DR The best practice is to use Trezor generated wallet with Trezor device since the recovery seed never leaves it.