Unless the whole process can be done offline, i wouldn't use the service/tool, it's simply too risky for minor convenience.
Besides, when we're talking about convenience, IMO it's more convenience to use multi-cryptocurrency wallet with 1 backup (either mnemonic seed or wallet file).
I don't see any security risks here, you're not generating any private keys with this trick, and it only uses publicly available information. Bitcoin public keys can already be recovered from blockchain data if you spent coins from that address, and you can't generate a private key for a known public key.
Also, for the purposes of this method signing a message would work too, since you can also recover a public key from that signature too. So, you can generate Ethereum address even if you didn't spend coins on that BTC address yet.
True, but the reason i mention security risks because :
1. the website also
offer private key converter between BTC/ETH on address converter page.
2. OP also ask about private key converter
thanks for all the answers.
most answers are obvious post-count-hunters who have no idea what they are talking about.
the converter clearly states in bold red letters:
Download this one-file-html-app and run it offline for best security!
Never paste private keys into unknown websites!
While it's good advice, the website you mentioned reputation is unknown. Who knows if he put backdoor such as fixed
k value in it's ECDSA parameter?
thats a matter when transactions are being built.
the way private/public key pairs are made is fixed anyway. there is no random parameter in building the keypair.
spits me the same results.