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Clarification About Using a Ledger Nano to Store Theta (and 3 Other Questions)

over 2 years ago by Eoin

Hello. I’m trying to get my head around using the Theta wallet with a Ledger wallet.

I have 4 questions

QUESTION 1

The Theta wallet generates its own mnemonic phrase, keystore file and private key and each of these can be used to unlock the wallet.

There is also a hardware option that lets you use the Theta wallet with a Ledger

The question I’m trying to answer is, if I choose hardware as the method for unlocking the wallet and use a Ledger, are the Theta wallet’s mnemonic phrase, keystone file and private key completely irrelevant? I think the answer is yes but I haven’t been able to get any confirmation about this anywhere.

Here’s my thinking:

A Ledger wallet has its own recovery phrase and its own private key. Surely if you are using a Ledger to view and manage your Theta funds, the only relevant phrase is the Ledger’s 24 word recovery phrase and the only relevant private key is the Ledger’s private key, right?

In other words, it's not possible that the Ledger recovery phrase/private key and the mnemonic phrase/private key/keystore file generated by the Theta wallet can both be used for accessing the same funds. The two phrases are different and the two private keys are different so they can't both unlock the same funds, right?

So if you are using the Ledger to access your Theta funds, the mnemonic/private key/keystore file generated by the Theta wallet must not be of any relevance. What matters is the hardware wallet’s recovery phase and private key.

Am I right?

QUESTION 2

What's the difference between these?

Ethereum m/44'/60'/0'/0
Ethereum m/44'/60'/0'
Ethereum - Ledger Live m/44'/60'

Does it matter which one you choose and do I have to choose the same one every time?

Do they each provide different addresses? I want to make sure I am using the same address every time.

QUESTION 3

If I want to move Theta from one Ledger Nano to another Ledger Nano, does this require an Ethereum GAS fee?

QUESTION 4

Is there some rule about needing to always have a certain amount of T Fuel in order to be able to send and receive Theta tokens? I remember hearing something like that.

Thanks