Manage the same Bitcoins with multiple wallets.

You own Bitcoins and have them on a Non Custodial Wallet, but you don’t like your wallet anymore and want to try another one?
Annoyingly, there are fees associated with every Bitcoin transfer. But is it even necessary to send Bitcoins to another wallet?
Have you ever wondered where your Bitcoins actually are?

Where are my Bitcoins located?

Let’s say you bought Bitcoins at some point and then sent them to the non custodial wallet Exodus. You now access your account with the Exodus software to send, receive or swap bitcoins. Without the software, you can’t get to your coins. But what if you are now working on multiple computers? How are you going to access your Bitcoins now at work that are on your home PC? Well, basically your Bitcoins are not in your wallet, they are on the blockchain. The wallet is only there to get to the Bitcoins on the blockchain. But it doesn’t matter how many wallets you set up on different PCs or smartphones. It can also be different wallets.

I have set up a new wallet with Exodus and show you how to get to this wallet with Electrum.

Show Bitcoin Seed Phrase with Exodus

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The very first thing you need to do is view your seed phrase. First of all, click on the gear wheel (Settings) in the top right corner of Exodus.
Now you will see a backup link in the same row, which you can then use to view the Secret Recovery Phrase.

Settings Backup Secret Recovery Phrase

12 Words Secret Phrase for Bitcoin Wallet

If you hover your mouse over the numbers, you will see the 12 words one by one. That’s all you need. The password for your wallet is not important, provided you have these 12 words. With these words you can get your coins at any time. If someone else gets these words, that person will also get access to your coins. It is recommended to keep this recovery phrase in a safe place. Preferably your seed phrase is waterproof and fireproof. If your house floods, or burns down, it’s good to at least have your assets safe.

Recover Bitcoin Wallet with 12 Words Seed Recovery Phrase

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I have now taken the 12 words from my Exodus Wallet and am making an Electrum Wallet with them. Of course there are no bitcoins on this wallet. You can restore a wallet yourself with the 12 words from my wallet to try it out.

After you have installed Electron and opened it for the first time you have the possibility to create a new wallet or to restore a wallet with a seed phrase. Click on “I already have a Seed.”

Restore Bitcoin Wallet with Seed Phrase.

Now the 12 words from the Exodus Wallet will be entered. As I said, you can use these 12 words yourself with different wallets to understand and practice how Bitcoin wallets are recovered.

12 words to recover a bitcoin wallet

Under Options, a new window will open where you can select the seed format. You have Electrum, BIP-39 and SLIP-39 to choose from.
Exodus creates the seed phrase in BIP-39 format. So select this format.

Import BIP-39 Seed Phrase

Now select “legacy (p2pkh)” as the Script Type.

Pay-to-PubKey-Hash

That’s it, your Electrum Wallet is now set up and accessing the same coins as the Exodus Wallet.
Under Wallet > Private Keys > Export you can view the Private Keys and as you can see they are identical to the Private Keys in the Exodus Wallet.

Export Private Keys at Electron

Show Private Keys at Electron

Show Private Keys at Exodus

Of course, you can also access your coins with other wallets if they use the same script. Atomic and Trust are among others also BIP-39 wallets.

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