How to migrate to a different wallet
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 5 min
In short
There are two routes: create fresh keys in the new wallet and send the assets across, or use the same seed phrase on the new app's restore screen. If there is any suspicion that your keys leaked, you must take the first. Either way, revoking approvals you no longer need before moving makes the result safer.
Key points
- If a key leak is suspected, creating new keys and sending across is the only valid route
- Tidy up approvals still attached to the old address before moving
- Test with a small amount once, then move the rest
- Funds can still arrive at the old address afterwards, so keep watching it for a while
Definition
Moving either your assets or the management of your keys from your current wallet to another, and switching the environment you use day to day.
People migrate for different reasons: the interface does not suit them, the chains they need are not supported, they want to move to a hardware wallet, or they fear their keys have leaked. The right method depends on which it is, so settle that first.
The first method is generating new keys in the new wallet and sending the assets there. Because the keys change, every worry attached to the old ones is cut off. If you suspect a leak, lost an old device, or think someone may have seen your seed phrase, this is the only option. The costs are a network fee per asset moved and an address check for every transfer.
The second is using the same seed phrase on the new app's restore screen. The keys are unchanged, so addresses stay the same and nothing has to be sent or paid for — but every risk attached to the old keys carries over intact. Defaults for how addresses are derived also differ between apps, so what you see may not match the original; check each app's official documentation for what it supports. 'How to restore a wallet' covers the cautions.
Whichever route you take, one job is worth doing beforehand: cleaning up approvals the old address has granted. Sites you stopped using may still hold the right to move your tokens, and those rights remain attached to the old address even after you move the assets out. See 'How to revoke a token approval'.
The move itself is straightforward in the right order: confirm the new receiving address, send a small amount and check it arrives, then send the rest. If you hold assets on several chains, you need fee currency on each. Once everything is across, keep an eye on the old address for a while — payments from people you gave it to earlier, or staking rewards, can still turn up. If you are disposing of the old device, delete the app and factory reset it.
Watch out for
- · If your keys may have leaked, reusing the same phrase in a new app fixes nothing — generate new keys
- · Never give your seed phrase to anyone offering to help you migrate; no migration step involves telling it to another person
- · You need fee currency on every chain involved; sending everything away leaves the remaining assets immovable
Frequently asked questions
Can I delete the old wallet once I have migrated?
Wait until everything has been moved and no further deposits have arrived for a while. Also, do not destroy the seed phrase backup immediately after deleting the app — assets you overlooked sometimes surface later.