What’s the difference between having a seed and using a hardware device? Like, if I manually enter the seed from my hardware wallet, is that the same as selecting ‘Use a Hardware Device’? Or would signing from the hardware not work if I do it this way?
Using a hardware wallet means you connect it without exposing your seed. Every transaction needs approval from the device itself. If you just enter the seed, you’re kinda restoring the hardware wallet in Electrum, making the device less useful.
So it’s basically about whether my computer knows the seed when I input it directly? Can I still sign on my hardware device then? I plan to use Electrum on an airgapped computer, so I wonder if it matters whether I enter the seed or not.
Yep, you can still sign on the hardware if you start the transaction from there. But if you restore the seed on your PC, signing won't be done on the device. There's no direct link between your hardware and Electrum in that case.
So basically, I don’t need the Specter Shield for signing, right? The private key is already in Electrum since I imported the seed. If I do that, I’m not really setting up a multisig but a single sig wallet.
When you choose "Use a hardware device," it needs a specific transaction-signing protocol that Electrum supports, usually via a plugin. If you’re just importing the seed, you miss out on that.
Got it, thanks! So QR codes won’t work like with SeedSigner. USB isn’t an option without a plugin, huh? Guess I’ll have to try the microSD route. Is the process like with Foundation Wallet using a.json file?
Use the.psbt export option from your Electrum watch-only wallet. Transfer that to your Specter Shield using an SD card, sign it, and then import back to Electrum with 'Tools->Load Transaction...'. Just make sure the signed transaction is compatible; otherwise, you might not be able to broadcast it.