Trezor too BIG

Trezor too BIG

By Cryptowido | Cryptowido | 4 Feb 2021


Hello, this post is about Hardware Wallet.

I bought a Trezor wallet in October 2018 and i'm very satisfied with it.
But there is one thing that is important to know about hardware wallet like Trezor. These wallets are not made to receive a lot of small sums from Faucets / Ptcs / Microwallets for example.

Otherwise you will have : "Your account is too BIG"
And there... BAM ! This is the drama !

No, just kidding, it's not that bad. If you have this message, it would be wise to stop receiving small amounts of crypto on it first.
The problem comes when you want to send transactions with this account which has become too BIG, it may take time because it generates errors.
These errors can cause the crypto you want to send to fail, and the higher the amount, the higher the risk of failure. So you may have to send several small amounts in a row to clear this account which is not practical at all.

But there is iancoleman/bip39 which will help you out of this mess :)
It is a very practical tool which allows you to know your private key from your keywords.

You can see on my site an example of how I got back my BTX which was in my coinomi wallet. I had to get it back because in 2020, coinomi had delisted BTX. As you can see on my site, it's simple to do.

In my case with my trezor wallet where my account got too big. I could also use iancoleman/bip39 to get my private key.
Then I should install another wallet like Electrum for example and import my private key into it.
This will allow me to avoid errors generated by having an account too big on my trezor.
Finally, it is something I will do later when bitcoin transaction fees go down. I have no reason to be in a hurry because the cryptos I have on my trezor are an investment that I keep for the long term. And I already have what I need on other platforms to make my trades or other things (like binance, crypto.com, coinbase for example).

For Hardware wallets like trezor (even if it's the only one I've tried), but I imagine that it must also be the case for the other models : you just have to make as few transactions as possible with it and should only be used to keep large amounts of cryptos over time.
For small transactions, it is better to use other wallets like Trustwallet - Coinomi - exodus - Atomic - Maiar or others as long as you have your keywords (private key).

The only obvious conclusion is that we need multiple wallets. This avoids having all our eggs in one basket.

With Trezor (and certainly with the other hardware wallets) we can have more than one account on the same device. So I would be careful with my second Trezor account that we can activate with the passphrase.

It seemed useful to me to give this feedback because I think that I am not the first to whom this happens and I also think that I would not be the last :)
I hope this experience sharing will be useful to you. And never forget, your cryptos are never lost as long as you have your keywords or private key !

Thanks for reading my post and happy earnings :)

Publish0x Links : Newcomers - XSL LABS : Internet of Trust - Maiar Wallet - Add Farm Token to Metamask 
Cryptowido Link : More about Trezor - iancoleman/bip39 

 


Cryptowido
Cryptowido

Hello Dear Cryptolovers. Happy Earnings. My Site (English | French) : https://www.cryptowido.com


Cryptowido
Cryptowido

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