Linkage between Exodus wallet to Ledger Nano S

Bitcoin Questions and AnswersCategory: General questionsLinkage between Exodus wallet to Ledger Nano S

Sarah asked 1 year ago

Hi there,
Thanks for the informative articles. I am learning a lot from this website.
I have ordered Ledger Nano S online but due to the high volume of pre-orders, it won’t be shipped till Sept 15, 2017.
My question is: in the interim, can I use Exodus Wallet and later on be able to link both wallet with the same private key and use Exodus for routine transactions and Ledger Nano S to store long term CryptoCurrencies?

Thanks,
Sarah

Steven Hay replied 11 months ago

Hi Kai,

I can’t give you a definite answer to that. Right now, the testnet version of Lightning Network is running pretty smoothly. I’ve used it to buy virtual coffee on Starblocks.acinq.co and unlock content on Yalls.org – I’m not sure how much work and testing remains before LN will go live with real money… I’m expecting it to be in 2018 but that’s just my best guess.

Dan replied 11 months ago

I have made some tests to import funds from one wallet to other wallet and I only succeed from Jaxx to Exudus.

Kai replied 11 months ago

hi, when is the Lightning Network coming? If it’s coming very soon, I might just leave it on my exodus for a little longer.

Steven Hay replied 11 months ago

Hi Victoria,

There is a transaction fee when sending from any Bitcoin address to another. The only exception is when you import a private key to another address into your wallet. However, it’s recommended to sweep instead of importing, and this method will incur the usual transaction / mining fee.

Lightning Network is coming however – this will allow you to send as many transactions as you like for (almost) no fee once you’ve opened a payment channel.

Victoria replied 11 months ago

I thought that there was no wallet – wallet transaction fee?

2 Answers
Ofir Beigel answered 1 year ago

Hi Sarah,
you can indeed save you funds in Exodus for the time being. Once your Ledger arrives just send all of your coins from Exodus to the Ledger wallet address and they will be stored there. There’s no way to link both wallets as far as I know.

Dan replied 11 months ago

Hi, seems always be considered a transaction. Because if you use your BTC or LTC seed created, for exemple on Electrum seems you only will be able to restore wallet on Electrum. If you take that seed to Jaxx or Exodus it simply do not work. Reverse also do not work

Ofir Beigel replied 1 year ago

Yes there will be fees like you said – since it’s moving coins around.

Rob replied 1 year ago

But upon sending it will cost you the mining fee no? Moving from one wallet to another will always be considered a transaction?

Victoria answered 11 months ago

I that there were no wallet to wallet transaction fees?

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