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Title: Hardware wallets. Are them 100% safe? Post by: Volcano9k on November 07, 2017, 12:29:49 PM My hard drive is dying, is It possible to transfer the wallet to another pc if it dies?
Also, is there any chance that the wallet stops working in the future because of lack of support or another reason, or they are garanteed to work for life time? Can someone recommed me hardware wallets that meets the requeriments above? (Can be transfered If the HD dies, and It has no chance to stop working in the future) Title: Re: Hardware wallets. Are them 100% safe? Post by: OmegaStarScream on November 07, 2017, 12:35:07 PM If the hard drive where your wallet is stored dies (like you can't recover anything from it) and you have no backup then funds are lost forever. If the development of a hardware wallet is dropped (the software part), you will still be able to recover your coins. I'd go with Trezor or Ledger nano S as a hardware wallet. Both wallets offers a seed while setting them up, If you save those, even If the hardware stops working for one reason or another, you could recover your coins.
Title: Re: Hardware wallets. Are them 100% safe? Post by: Volcano9k on November 07, 2017, 08:24:30 PM If the hard drive where your wallet is stored dies (like you can't recover anything from it) and you have no backup then funds are lost forever. If the development of a hardware wallet is dropped (the software part), you will still be able to recover your coins. I'd go with Trezor or Ledger nano S as a hardware wallet. Both wallets offers a seed while setting them up, If you save those, even If the hardware stops working for one reason or another, you could recover your coins. So its 100% safe If I keep all the wallets infos safe?Title: Re: Hardware wallets. Are them 100% safe? Post by: figmentofmyass on November 07, 2017, 10:13:55 PM My hard drive is dying, is It possible to transfer the wallet to another pc if it dies? generally, yes. you should make backups of your wallet before funding them in general in case of situations like this. wallets are generally recoverable, but the type of wallet and version you have will affect the recovery process. the easiest types of wallets to recover are hierarchical deterministic wallets, as they provide a recovery seed (string of words) which can be used to recover all addresses in the wallet. electrum and trezor are couple examples. Also, is there any chance that the wallet stops working in the future because of lack of support or another reason, or they are garanteed to work for life time? nothing is guaranteed. there could be bugs/exploits which have not been found yet. this is why HD wallets are so great..... if anything ever happens, you have your recovery seed. Can someone recommed me hardware wallets that meets the requeriments above? (Can be transfered If the HD dies, and It has no chance to stop working in the future) as OmegaStarScream said, trezor or ledger are highly reputable hardware wallets. regarding whether they are safe....... to some extent, you are trusting that the hardware/firmware is not compromised and has not been tampered with. if you are not auditing it yourself, there is always a small chance of compromise. but these are very reputable companies. i would advise only buying directly from the manufacturer. don't mess with third parties who might send you a wallet that has been tampered with. |