Move Assets Between Wallets

I recently purchased an entire Wallet with crypto in it. As the wallet previously belonged to another trader, I was not happy knowing that the wallet was not secure because the previous owner could still have the recovery phrase etc. I was also not fond of the wallet provider being used. I decided to move all the Assets to a brand new wallet, where I was in control of the Assets.

I wanted a new wallet address and mnemonic phrase and having the functionality that I am comfortable with. I also wanted to keep all the assets separate for a period so I could monitor the performance of my seperately.

To do this, I needed my iOS or Android device,

Access to the Old Wallet (OW) & app, the blank New Wallet (NW) & app.

I collected the details of all the Networks and Tokens from OW. Also from one of the stats apps ran a report of all the assets and balances from OW. To make the transfer smoother, I converted all the small balance assets to a single Asset (I converted all to USDT but its up to you)

-Download, install & set up the latest version of both apps on your device

-Open the NW app, select Create a new wallet Accept terms & backup the secret phrase (depending on the wallet)

-Add or enable the necessary Networks and Tokens in NW (Backup both wallets)

-In the NW app scroll/search for the asset & select Receive or Deposit

-Use Copy or Share option to Email yourself the address (I added the addresses as contacts in OW to avoid sending each address via email) I prepared a spreadsheet with Addresses & amounts (for reconciliation)

-Open OW & select Send from the menu, search/select the asset to be sent

-From OW paste/select the address for NW in the Recipient address

-Review the details & Confirm

Complete! Your assets are now in your NW. Depending on the asset, transfer times are from a few minutes to much longer. Repeat for each Asset

From NW run reports & match to the OW report. Some assets lost due to fees and slippage, but my crypto is secure in my new wallet

#recovery #AssetProtection #wallet-to-wallet #TokenTransfers #networks