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Is hardware paper wallet for ripple like bitcoin and ethers? Submissions that are mostly about some other cryptocurrency belong elsewhere. Wallet did help, reddit you! You won't be able to vote or comment. Same with nano s 2nd pin. There's no need to buy another wallet. Bitfinex also bitcoin can try but it will re-open after 15th Jan.
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Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. My excuse is that i am working from home today, and still in my pyjamas. In addition, something else I need to start educating users about so they run away from your product is that your product does not support a 25th key in a user-friendly way. Related communities Sorted roughly by decreasing popularity. That is already possible today.
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For sizeable amounts you could use paper wallets, provided wallet you reddit them safely, and use a mobile app like Mycelium to spend from your cold storage. Trades should usually not be advertised hardware. But that would be a targeted attack which could be possible, you're the reddit that could know if this should bitcoin in your treat model. No compilations of free Bitcoin sites. Bitcoin it works and your balance is still there wallet your coins back to your HW hardware. It's like painting a bullseye on your back.
Bitcoin hardware wallet reddit
I used a paper wallet before importing the seed to my Ledger. The paper wallet still exists in a fire-proof safe. There should not be any different results, right? Wiped it and then restored from the 24 words. Proceeded to transfer with a large balance after that and very much had peace of mind. I never wiped and restored when I got mine.
Am I right in saying the purpose is purely to make sure you have the recovery seed words written down correctly?
I haven't done this either. Need to move funds to another address and back to do this, in case I do fail test recovery. But I think I speak for a majority here by suggesting you buy another device and restore there, that way if your seed fails to recover your BTC you already have another device to create a new seed, test it and then transfer your BTC from the old wallet to the new, tested one.
I did this buying another device because I neither tested nor enabled passphrase protection on my first wallet Even though you can enable passphrase at any point, creating hidden wallets wouldn't have been very effective since the transaction history shows what your whole balance was at one point, in turn, showing anyone who might, in person, coerce you to transfer them your BTC, that you might have hidden wallets. I think instead of a second hardware wallet, I could use a clean usb boot software temporary wallet, to test the recovery process.
Send to the temp wallet minus 10 usd worth of coins, if successful, send back from temp wallet The other option is buying a new hardware wallet like you say but selling one of them after success, offsetting the cost of testing. Not just that you've written it down correctly but the device is functioning properly at least at that point.
Since it's supposed to ease your mind, you have to trust it. In order to trust it, you have to test it first. Thanks for the idea, I managed to this without risking my existing funds by lending one from a friend and recovering my account there, he hadn't yet set up his and we'll make sure he also does it.
One peculiar thing, I didn't uninstall the bitcoin wallet extension. The wallet upon restoration, showed the account name correctly.
I honestly did not expect to see the additional account with the correct name, so do you know where the account name information is stored?
Is it stored on the extension per public key? I like the excitement of having my entire life savings tied up on a hardware wallet and with shaking hands and no idea what I'm doing trying to recover it.
So what do I do if I've already put a bunch of coins on there? Just forget about this post and hope for the best? Then again those fees are a pittance compared to being confident they're all on there only to find there's nothing left when I go to cash out.
After confirming the money is there I can then safely remove the software. Just make sure it's something that can work offline and doesn't save for when you go back online. If your seed gets online it defeats the purpose.
If you have a Trezor they are planning to release a solution that will allow you to test your seed with their recovery interface which scrambles options of the device so you can't be keylogged but so far the solution can only be accessed via command line interface which isn't very user friendly. Yes but assume that at all times a desktop is infected with malware that sweeps keys and records keystrokes.
I think that older wallets are more valuable than new ones. They are less likely to have been made out of compromised chips. But I can imagine a powerful entity hacking into the silicon chip design company and installing a backdoor into all future chips produced by that company. It probably hasn't happened yet, but it might happen in the future. Of course you can, it's not that hard.
Takes quite some time and you still have to trust yourself, but running SHA is rather straight forward: I'm on the same boat but ledger wallet does a quick test at the end of setup and has you spit back like 5 words or so. I feel confident enough. Offloading the coins is really the only way to do it.
You must completely wipe the device for a true test and you don't want to test that with a significant amount of coins on the device. This may sound a little expensive but the simplest thing to do for complete peace of mind is just to buy 2 hardware wallets and test out your recovery phrase on the second wallet You can run software bip39 generator, offline , and confirm your seeds generate the correct addresses. Alternatively use a second hardware wallet and only enter the recovery on the second hardware wallet.
I am a network engineer for a cloud computing company and have experience in this field. As far as I know you cannot save much on Windows partition this way and vice versa. Or more conveniently, if I had a Ubuntu partition, how likely it is anyone breaks in there through Windows being online? If I buy a new trezor and type in the phrase of the old one, all my keys come back "on" the new device, right?
It's odd, I had a scare about my funds a while back, and I opened up a wallet in a different program - non-trezor, i think it was mycelium or coinomi. I used the pass phrase, and typed it in perfectly, but none of the money came into the new wallet.
Imagine how terrified I was when nothing showed up I got back home, plugged in the Trezor, and the money was still there Nothing transferred, I understand, but when I typed in the code to the new wallet nothing showed up at all.
Also sometimes you have to make sure hardware wallet and whatever you are restoring to is using the same BIPS version. Just engraved some keys onto a steel plate today. It worked pretty well. Don't know if it would do steel but easily do copper or brass. Very noob question here. If i have 1 common mobile wallet for btc eth and ltc, and I delete the app. Reinstall it again and enter the pass phrase, would all 3 wallets btc,eth, ltc get recovered?
Is it more secure, if I transfer the coins to my mobile wallet and then delete the app from my phone altogether? That way, it's not on my okie anymore. I can then install it and recover it back again if I ever need to access my funds again. Thanks for the info. I'll try it out on another wallet. I don't have much money on it but I'll keep it in mind for the future.
Your answers have definitely helped me get a better understanding of how this works. Make sure that the words that you use to restore the seed are compatible with the BIP39 standard. If you wallet app uses a non-standard format most don't then you are relying on that app being available in the future. If it is BIP39 compatible then the vast majority of wallets will be able to work with your seed. But you don't really know your passphrase recovery works until you actually do it.
You only want to risk having a very small amount of each on there just in case you got something wrong somewhere along the way. That's ideal for sure. Or maybe what another user here suggested. Download the mobile wallet onto another phone and type in the pass phrase to see if it works. Or if you have enough invested in crypto, buy two hardware wallets. Write down the seed of your new ledger, put your crypto on it, and then put that seed in your second ledger.
If it works, your seed is written correctly. If it doesn't work, view the seed on your original ledger again and spot the mistake. It's always good to have a backup that you keep elsewhere. Both have their pro's and cons. Trezor is good as a store of coin. Depends upon your intended use. My GSM is sketchy at home.
Out and about it's fine. Security on both seems very good. Trezor because of the physical wire to use it, Case uses a finger print reader built in to authorize a send. Case was finicky getting my print registered the first time, but it's worked well in use. Transactions seem a little slow to submit but that's probably because of the GSM speed.
Once again, depends on your need. Are you looking for a safe place to keep coin, or something you can use for purchases, and receiving coin out-and-about. Either is a safe store, as I'm sure Ledger or others like it are. Case is more expensive, but it's an active wallet. Sorry, didn't mean to go into a diatribe. Case looks like a great standalone hot wallet.
I can't wait for these hardware wallets to drop in price. You could fill those phones to the brim with bitcoin stealing malware, and your Bitcoin would be secure.
I trust it as well but I'd like some more background on specifically why you like it. Sure thing - I've had the privilege of meeting the developers, and it's great to see that side of things versus just a website.
Additionally, there hasn't been one reported incident of funds stolen with breadwallet yet on phone's that aren't jailbroken. Add to the fact that the wallet is open source, community reviewed, etc etc - I just feel really comfortable. Store a significant amount in there. When would it not be the right option? Totally worth it, I have and use a Trezor and Ledger Nano, both are really awesome in their own right. I use a Trezor for the majority of my savings.
I have a separate unopened Trezor at another location as an emergency backup. I rarely use the Trezor for purchases. Instead I have a few hundred dollars worth on Breadwallet on my phone. The combination of a Trezor for savings and Breadwallet for spending works well. Note that Trezor is working on their second generation product.
They're trying to ship in Q2 I am still very happy with this decision. It works very smoothly with some mobile wallets I use Mycelium and equally well with my Windows computer. With the seed backed up with a physical metal wallet like the Cryptosteel or just stamped in a piece of stainless steel with a good set of dies. I think OTG has been on phones for several years. Perhaps this is a good reason to get a new phone.
In the spirit of Bitcoin I'm still waiting for an open source hardware wallet using readily available microcontroller or processor something you can make yourself if one wanted to.
I will definitely do more research my interest has gone up. I wonder if there are alternate mcus that work with its code. Or if there is. Actually Trezor is open hardware https: You can make your own see http: I hope someday they Trezor, Ledger will make a nice package existing out of 5 devices that will support 3-out-of-5 signing.
Trezor user manual at https: Works with Mycelium when I'm on the road. If it gets lost or someone steals it, it's useless without the 2FA card or paired phone. I can also keep it plugged in at home, and remote into my box when I want to send BTC. Then i just validate the transaction remotely. PIN captured by keylogger is useless without the 2FA. So if captured with your HW device it's possible to be coerced under duress to give up your bitcoins.
I keep my hardware wallet at home and my 2FA stays with me where I validate remotely. They only work if your computer is not compromised, which defeats their purpose. To safely use them, you are supposed to cross-check the address that you want to pay to with a second device, and at this point it is just cheaper, simpler and safer to multisig between the two instead.
I agree that they are cool devices , but there is a cargo cult around them. The use case in which they are indeed useful is when you have a list of trusted pre-approved payees inside the hardware wallet and then you use it to sign payment requests from these instead of sending to addresses. For the usual "pay to address" use they offer marginal protection attacker steals the payment amount instead of the entire wallet over single-sig wallets, and less than with multi-sig.
Doesn't the Trezor display the pay to address on screen and sign the TX to that address on device? How does a compromised computer defeat this? It doesn't you just have to use your Trezor as recommended. Once you have had bitcoin stolen by malware you will buy a hardware wallet next day.
If the malware mutates Bitcoin addresses displayed, you are SOL. The attacker can only take the payment amount, not the entire balance, but this is small consolation.
With multisig, you risk nothing. And it costs 0 assuming that you already have a computer and a smartphone. If you want to take a closer look at various HW wallets, look at www. This is the only purpose these hardware wallets serve, but it's very important. Of the two, I prefer my Keepkey, which is sturdy and feels luxurious. The circuit board inside has thicker pathways and was built to survive a beating or the ravages of time.
Dropping it is never a concern, and it's got a bigger, prettier screen. Nano's got a few more features, though. You have to find the one that fits better for your habits or needs. This one for example works great with Mycelium mobile wallet, when is about to spend. Just plug it and link and then spend. Hw1 is really good. Great security and convenience.
It's just a really flimsy cheap feeling device though and its a bit too small for my liking. But it does it's job wonderfully. I have a Trezor but it requires a computer to connect it to, to use it.
Works well, if you can get a good GSM signal. At my house I can't, at work I can. If they can make the same thing work off my cell phone it might be perfect. But, they were designing it for people that don't have a connected device. I guess you have to ask, do you want on offline cold storage, or are you looking for a usable daily H. I have received my Ledger Nano a week ago - brilliant device! It does the job and the rest Got it from purse. That makes it pretty affordable hardware wallet: If you have an iPhone, then BreadWallet is also an excellent option.
You could try it out while you decide which hardware wallet to purchase. Then, when you get the HW, you could transfer the bulk of funds to it and use BreadWallet for your convenient spending. Thanks i am not interested in a software wallet. Just a hardware one for an added layer of security.
Really i was just wondering if the HW1 was a solid enough choice - for the price, with a justifiable level of security for a medium amount of bitcoin storage. I prefer Trezor as Ledger does not allow you to protect the seed with an additional 25th word password. It does require a PIN code, though and will wipe after a few incorrect entries.
IMHO not entering the seed words in a random order is the real problem. I also wish it supported opening different accounts with different passwords. Great if i ever have to do that under duress. I have a KeepKey I am assuming that they all work the same in this respect, but I just wanted to point out that the recovery sentence pretty much has absolutely nothing to do with the PIN.
In other words, if someone steals your recovery sentence, it is not protected by the PIN and they can steal your coins. The PIN only protects the currently active wallet that is on the device at that time, and it is not used when recovering a wallet. It doesn't protect your seed at all. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Bitcoin comments other discussions 1.
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