Saturday, March 16, 2019

Anonymizing bitcoins on your Ledger device

As most of you probably know Ledger Nano S, while providing some very decent security, lacks several important features in its LedgerLive app, namely - ability to to use your own full node for syncing up the transactions, ability to view utxos and control which ones get spent (like you can in Electrum) - to name a few. This seriously hampers one's ability to maximize whatever privacy features are currently available in the Bitcoin network.

Many users are now aware that they can actually setup an Electrum-based wallet while still using Ledger for transaction signing. However, not many realize they can actually migrate their existing bitcoin wallets that they see on LedgerLive app to Electrum. It requires a few jumps through the hoops - but is rewarding in the end.

My set up was as follows - I had a legacy Bitcoin and a segwit-enabled wallet. I was able to migrate them both to Electrum, so I could control any subsequent tx's with Ledger from Electrum. I was also able to import all existing transactions and thus have fine-grained control over transactions. This last step involved setting up Electrum Personal Server.

If there is enough interest in this process, I will put together a guide and post a link. Let me know in the comments if there is enough interest.



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