Bitcoin Forum

Hardware wallets are state of the art devices to store your coins or tokens safely.

There are still many misconceptions about these devices. Let's talk about it!

For instance, a lot of people think that if they lose their hardware wallet, their coins are lost. This is not the case. If you lose your hardware wallet device, or if it's stolen, you can always safely restore your accounts on another wallet. All you lose is the hardware device itself, not your accounts.

The main advantage is that you never have to expose your private keys, neither for storing your coins, nor for doing transactions. It makes it almost impossible to compromise your coins, even if your computer's operating system is hacked into. Thus if you're serious about storing your coins for the long term, a hardware wallet is highly recommended.

Do you use a hardware wallet?

I'm not using a har ware. for me it's more safety to hold my money on different exchanges and in few cold wallets. split between mew/blockchain info/eos etc.

I use it to store my savings because as long as I have the control on my coin it is hard for me to save it unlike storing my coins on hardware yes i still have the control but it has more process rather than storing on softwallet.

I don't use and still use MEW, I'm not interested because the price of expensive wallets in my opinion. although the security aspect is safer but haven't thought of moving assets to the wallet hardware.

I use, and I advise everyone to buy a hardware wallet, it is very convenient, but most importantly, safe. You can avoid a lot of problems by simply buying a hardware wallet.

Never think about it. i was hacked one time at the beginning.
Now i am increase my security, for using hardware wallet you must have big moneys or dont understand nothing in cyber security

Some people in the crypto scene could be considered as a lost case, to be honest. They don't want to buy a HW and then complain about losing thousands of dollars.

A hardware wallet is no longer a luxury, It should not be something optional. If you join the crypto world, you must buy a hardware wallet for the simple reason that anything else is not safe.

If you don't, it simply means that you don't care about losing your funds. Exchanges are under attacks from hackers, doing inside jobs or simply locking people accounts for silly reasons, malwares are getting more sophisticated that an anti virus will not help etc.

Trezor and Ledger nano S have both good offers right now because of the Black Friday, It might be a good moment to grab one.

If we are talking about safe use, I would probably all the same advised to use this kind of wallets, because cryptocurrency as a whole is a very important matter for me, because I think that using a hardware wallet is a necessity.

I am quite surprise to read the first few comments. I guess their online wallets have not been compromised yet. I just bought one and waiting for it to be delivered. I agree that it is the safest wallet available out there. You have full control and no need to worry about phishing.

I prefer to store my coin with a node. It gives you a percentage interest. This is what I do with Horizen, at least my coins are working while I sleep  ;D
But other than that I also own Ledger wallet to store  a few coins, this is my main vault.

Yeah I think hardware wallets are the best options. I'm using a ledger Nano S right now. It's a good one when it comes to security, better than software wallets which may warrant you to keep copying and pasting private key or importing, creating more exposure to hacking.

When will growth begin?

Yep it's true. If anyone lose their hardware wallet they'll be able to recover it by buying another one but the problem is the price of a hardware wallet is not really cheap :)). For me, I'm not using a hardware wallet but until now, all my cryptocurrencies are still fine without being hacked.

no i dont. i am afraid that one time i cant open it anymore. i do use web wallets where there are customer service representatives to help in access. i do keep my keys responsibly and it is more economical.

I don’t see any reason to keep funds on such a wallet, I never heard that the usual wallet would be hacked  ???

Sure I will put my coins on my ledger nano S everytime it can handle that token. I really don't understand why people still don't use hardware wallet now prices are quite cheap for them.

Because lot of people still don't understand the different types of wallets we have to store our cryptos,most of the users using the online wallets like blockchain.info wallet or bitcoin to store their coins that is why they are losing their coins and when we can teach the importance of using a hardware wallet we can save lot of hacks happening in personal.

When is growth????

This is a common misconception. It doesn't matter if your device stops working, is lost, or stolen. As long as you have your recovery phrase you can always access your accounts.

The most popular hardware wallet devices, Ledger Nano S and Trezor, allow you to recover your accounts on any hardware or software wallet that supports the same standards as the ones used by the device, which is BIP39/BIP44. All you need is your recovery phrase.

Just HOLD

Im not use it.. my money is not for crypto only and i feel enough use web wallet.. I think hardware wallet just for someone who have a huge value of crypto asset..

Waiting for Bitcoin 1k

not really a fan of hardware, if it fails you money or coins is gone unless you have a backup,
but dont rely on hardware so much , once it fails , then the rest is history
its okay if you keep it via web just make sure you have multiple security features
and don't ever forget the password

         I do not use a hardware wallet at the moment. I expect to make more money in my wallets online to buy one. I know Ledger hardware wallet is the best. I currently use ERC20, the myetherwallet wallet, and the investments keep them on the exchange. It is recommended, however, to use the wallets for more security and for more efficient management.

No, I'm using myetherwallet for storing my coins and tokens. I know this is very prone to hacker's attack but that's only possible if you're not careful enough with handling online security. Actually the very effective way to protect your coins is don't be fooled by true good too be true promises whether when you click those shitty links of them you will earned something like this. Oh no better to stop listening and entertaining those guys. Chances that a deadly link coming your way that will lead to hacking of your wallet.

I also use the same wallet, Myetherwallet. MEW is very easy to use too and as you say it's very easy to hack too. But all of that is true if we are careful of phishing links, of course, certainly safe. And Myetherewallet also if you can bookmarks in the future to make transactions, the original link will be safer.

     I use myetherwallet online wallet to keep my coins from rewards campaigns. Some money keeps them on the exchange I made the deal. Myetherwallet is the safest online wallet, but it is also prone to hacker attacks if we do not improve account security. For those who have huge profits, a hardware wallet like Ledger Nano S would be good. The Ledger Nano S has a great advantage. If you lose it, you just lose your stick, not what you have in your account.

Are you using a hardware wallet to store the coins ?
I don't use wallet hardware to store coins, but I use mew to store my altcoin.

Yes, I use hardware wallet one year ago, actually is don't lost your seed (not your account), I think a lot of people don't believe and don't know how the hardware wallet to secure their assets, actually they are considered secure, because the private keys never leave the physical wallet

Not yet, I'm not using hardware wallet because it's expensive to get and the moment I got into crypto world everything has nosedived so I'm not financially buoyant to afford a wallet that goes for nothing less than a hundred dollars but I will definitely get one either trezor or S Ledger nano because it's the only wallet that provide 100% security

I am not using hardware wallet because I still have few coins only in my wallet so it could be useless for me and a pricey because it cannot compensate on my number of tokens  or coins I have, this is only good for those who are holding lots of coins.

Of course, I think the hardware wallet is the safest wallet, it almost does not need to connect to the Internet every day, I think the hardware wallet can not be lost by me!

All you need is your recovery phrase. The difference compared to other types of wallets is that by using a hardware wallet your private keys are never exposed to anyone.

Even if your device fails one day, or is lost, you can still access your accounts and funds. This is because the hardware wallet uses BIP39/BIP44 to generate your mnemonic phrase. This can be imported into other wallets supporting the same standard.

No, but I want to buy, espercially after ledger proposal of 50% sale on their official web site.
To my mind it is a chance for every crypto user.

Most of us start out small. What you're holding now might not be worth a lot today, but it could very well be worth a lot more than today in the future.

It's certainly not a bad idea to do one's research and look into the possibilities of storing and handling coins as securely as possible.

I have not seen in personal a hardware wallet but when time comes where i can get more tokens/bitcoins i would consider getting one. My concern is if i buy hardware wallet, is there a chance that you will get a fake hardware wallet as we will buy this online?

hardware wallet is indeed one of the safest wallets today because all our assets will be safe if stored in a different wallet from the online wallet if we lose the wallet key then we can lose all assets in the wallet but different from the hardware wallet if you lose then missing tool and you can replace it with a new one.
But now I still rely on my wallet using metamask because it's still safe so far because I haven't switched to a hardware wallet.

But besides phishing, there are still a lot of different types of attacks that hackers today use. For all the time I spent on the forum, I realized that security is very fragile, despite all the guarantees

I never used any hardware wallet yet. Cause I'm a trader and that's why I need to hold my all altcoins or Bitcoin on some crypto exchange. Cause without exchange I can't trade with my crypto coins. But in future I will use some for my long term hold.

Strange, because I think that a large number of traders use this way to store cryptocurrencies because there is always a high probability that the exchange can close and you can never see your assets anymore.

I don't use a harware wallet to store coins . I am using Myetherwallet , I think it's very secure and you can't lose your coins if you don't share your private key to anyone .

I do not use a hardware wallet, because for now I am safer to store it on software or on certain platforms, and all wallets also have risks so we must be careful in storing them.

in my opinion hardware wallet is only suitable for bagholders, if the trader does this it will actually make it difficult to access and their daily trading activities, while bagholders only need to sell or add assets to their wallet at a certain time

I use hardware wallet. I have been storing my important funds on my hardware wallet. Especially the funds that I hold for long term. I also have many software wallet, but I only use it on making small investments, and upon receiving my bounty rewards.

I just bought ledger nano s from official price on a black friday. There was 50% discount.
I've not received it yet, but will share my experience later. I guess it will protect me.
I faced hackers, I lost like 300$

Yes, I've been using a hardware wallet and to be exact it is Ledger nano s.

The amount you spent for buying a ledger wallet is totally worth it to the security of your wallet. And guys be reminded that don't ever buy from a third party or to someone that isn't authorized by the company to re-sell.

I am happy with several MEW wallets, because it is the best place to store you tokens, if you are careful with your private key. Moreover, I also use some exchanges to store my coins, because holding everything on one wallet is very dangerous.

Yes, it'll protect your assets with high level security, that's a good discount price on a black friday protect, you also allow to choose different color for nano s right now, I already use it more than 1 year, just make sure don't buy from a third party and device haven't initialized (generating 24 word seed and pin by yourself), anyway hadrware wallet is worth investment to protect your funds

To be honest, I don't use a hardware wallet. I use two-factor authentication on the exchange or just use MyEtherWallet.

I never thought about that. I agree that we need to increase security.  So far, only I am looking for information about which hardware wallet is best to use. I still only use MyEtherWallet.

I don't use a hardware wallet to save my cryptocurrencies because their value is not very high, I prefer to store them on exchanges or portable wallets!

I'm using a paper wallet and I'm fine. Never been hacked before because I'm extra careful and give so much priority to my online safety. Hoping to get a hardware soon though and as I plan on investing big and for more peace of mind, a hardware wallet is needed.

Maybe they understand that hardware wallet is very important mate because it is the most secure wallet where we place our tokens and how many times it is discuss in the forum,but other people don't have hardware wallet because they don't have money to buy it and other are contended with the MEW wallet the important is they put there private key in a safe place.

a hardware wallet is very important, but for those who have a lot of money, if it's still a little money like me, I don't think it's important to use a hardware wallet

I don't use it yet, but I plan to buy a hardware wallet
Now there are a lot of them, you can choose for every taste and amount
I am considering to buy - Ledger, Trezor, and maybe KeepKey

 

If I remember I also bought another one but not during the black friday sale but it's during those times when the price of bitcoin was quite high.

So I got a duplicate one with a better price. I didn't purchased another one this sale but those colors are lovely and attractive so those that purchased it, you're very much lucky. You have a better color of your nano and plus you got it with high discount.

I don't like to have my money on different exchanges so I am using myetherwallet from the beginning. I think it is a secured wallet

In general, you are of course right, and in most of these cases, people really think that everything will be fine, the most important thing is not to fall into the hands of hackers, who in various ways will lure the keys.

I am keeping my coin in the exchange at this time as I like to do trading with my coins. So keeping them in hardware wallet it will take time to transfer from wallet to exchange. So I like to keep them on an exchange so it saves time. And sometimes when coin get a pump when we have the coin on the exchange we can take advantage of that pump.

I think hardware wallet is good for those who hold big amounts of bitcoins for a long time. for those who want to use bitcoins as currency, mobile wallet is better.

I started using hardware wallet when I realized how many scams are around, anyone can fall for their bait. I decided for myself that it is better to buy Trezor and sleep peacefully.

i don't use hardware wallet and i never experience losing my private key because i safeguard it well. i use mew to to store my coins. if you know how to be safe you won't have a porblem.

No, I am using exchange wallet. I have no hardware wallet, but I am trying to buy a hardware wallet. Hardware wallet is most secure wallet all over. One of my friend lost his 9,000$+ for hacked issue. After that he bought a ledger wallet. I want to buy also that.

I am just using MEW and so far I have no problems encountered with it. It's just how you are going to keep your account safe and not just about what wallet you are using.

yes, I'm using Ledger Nano S to store my coins
it's a good wallet, store bitcoin and so much more other altcoins
but stay aware of second hand wallet. just buy new one

I use more online wallets, I think it's easier to use and doesn't require large storage. we only need to save privatkey.

but sometimes I use hardware wallets for some new altcoins. the reason is because there is no online wallet that supports this altcoin. and saving at Exchang is too risky. so using the hardware wallet is wrong

Yes, I also use hardware wallet to store my coin because I see it as the safest way to store cryptocurrencies. Hardware wallet is safe to the extent that its nearly impossible for hacker to steal your fund.

I dont use hardware wallet. But I want to use it. I know this is the right way to keep my tokens safe. So what do you think is the best hardware wallet? which one do you recommend to me in particular?

Of course, I bought a wallet only for storing coins that I keep in long, and so for short-term coins I choose either on the exchange or on mew is great

I suggest to you that you should use hardwallet like trezor or ledger which will help you to keep yout tokens. Do not depend in a single wallet and try to use multiple wallet to store your token. I also use mew but once you lose your private key all your will be gone so be careful on storing of private key.

Not using one, I just store my coins on trading sites. My portfolio isn't that big to use hard wallet  ;D

i use one, to store tokens which i hardly use or which i intend to keep for long term. those which i mean to trade etc. i keep on exchanges or in other quick-to-reach places...

I use a hardware wallet Ledger Nano S to store my main coins. This is the most secure way to store, because the private key that grants access to your coins is never displayed.

no, I don't use the hardware wallet to store the assets that I have, everything is stored in the stock wallet and some of it is still stored in myetherwallet

i live in such country where it is not easy to get the hardware wallet for the crypto.. but in my opinion these are the best wallets to have if you don't want to lose your hard earned profits but there is also a drawback to use hardware wallets according to me. keeping coins in the hardware wallet is good as long as you are plannig to hold to your portfolio not if you want to trade.. if you are a trader then you will need to make a transfer from your wallet to exchange for every trade till then maybe you lose the chance to earn the profit..

I'm currently using a web wallet as storage. but I also want to use hardware wallet, unfortunately neither any hardware wallets out there support my altcoins.

Yes, this is the first thing that I allowed myself to buy as soon as I began to actively engage in crypto currencies - the very first thing I seriously thought about was to ensure the security of my money, so I started with the fact that I bought myself a Trezor hardware wallet. I still use it and very pleased with the result.

Even if you are as careful as can be in handling your private key / wallet information, you can never be completely safe. There are a lot of factors, many of which you have little or no influence on. Therefore I do not agree with this statement.

The best practice is not to expose your private key in the first place. This is where a hardware wallet comes into play.

I agree. Hardware wallet is for those who have handsome amount in crypto. I used MEW to store my tokens and web wallet for my bitcoin. But still I feel secure that it will not lose from it. Not all my earning is for investment but also easily cashing it out t spend in daily living.

I don’t use a hardware wallet. For me, it's more comfortable to use cold wallet on CEX (https://cex.io/). And I can say that offline storage is just as safe as a hardware wallet. Furthermore, it’s more convenient for traders. And there is no bother of deposit/withdrawal/transfer of crypto to and from the wallet.

After my wallets were hacked and stolen few thousands dollars I bought ledger nano, that was the one exist to stop this

It is very sad to be hacked. Fortunately, I have never been hacked, but I prefer to use hardware wallet, because it is not expensive and also one of the safest way to hold your assets

Of course, every person is entitled to his opinion, but it seems to me that a hardware wallet is good for absolutely everyone, as far as I know that today even buying and selling BTC is carried out by direct transfer of hardware wallets from hand to hand.

I use only hardware wallet everytime I can. After been hacked last year with my online neo wallet (i still didn't undestand how they did) I bought a ledger nano S and now I feel better and I do transactions without fear. I recommend to buy an hardware wallet to everyone that has a medium-big amount of money in crypto.

Yes i am using a hardware wallet like ledger to store all of my coins. I believe it is much safer if you store  your coins in a hardware wallet to avoid hackers and because you are the only one who can access it just always remember where you put it and don't ever misplace it.

Are you sure it's more safety to store it in exchange wallet? it seems that you has made a mistake in making statement. There are many cases of exchange hacking and most of them cannot re-fund their users, this incident should can make you aware to not store any crypto assets in there.

I used to but I do not have enough money to make it viable to use my ledger nano anymore. I used to store all my coins there and try to divide it equally and so forth, basically spent some time on getting a portfolio that looked respectable and like a proper crypto investor.

Obviously, I have tried to stay at those levels for a long time but I have failed so in the past 6 or 7 months and ever since june-July I have been using only my local exchange where I can put bitcoins in and take out fiat in return. Without a proper amount of coins needing storing there is no need to use hardware wallets, they are there for a bigger investor (even a medium one) but when you have couple hundred dollars in bitcoin there is really no need for it so I just put it aside somewhere and hoping to use it when the prices go up again.