Separate Nano Ledger For Holding and Trading?

[jerry0]

Have an old nano ledger s for years.  That s has been discontinued and there is the s plus and x.  Most people still here use the old s right? 




S Plus seem better as no battery so lesser problems.



Most people here have two nano ledgers?  One for long term storage and one for trading or daily usage?  Example you store btc only or say btc and bch and have your nano ledger s and want to make that safe.  You want to use another nano ledger for trading and maybe metamask and those things so you don't want it to affect your btc in your main nano ledger.  Would most recommend get a second nano ledger?  Say you trade btc as well and don't want any of that btc to touch the btc balance on your old nano ledger s.  So having another ledger for trading is recommended?  The thing is i know you have to remove apps and add apps on the old s because of limited space but people here find that annoying or not?  But you could also create a new btc account on the current ledger live to separate any btc coming in for trading?  But would it possibly causes issues later?  So getting another nano ledger would make things easier?

[bitmover]

Most people here have two nano ledgers?  One for long term storage and one for trading or daily usage? 

There is no need for that.

One device allows you to have multiple wallets with multiple pins, just use a different passphrase for each wallet.

https://www.ledger.com/academy/passphrase-an-advanced-security-feature

[Hispo]

Op.if you decide to go for the Passphrase solution please read and document yourself before using it, since it you mistype, forget or in general lose access to your passphrase, then it may lead to loss of funds.

Passphrases are very useful to keep ones privacy and also to protect your Satoshis in case your seed gets leaked, I am just seen some people on internet being unable to access their Bitcoin because a mistake they made with the Passphrase that should have never happened.

Knowledge is power.

[Lucius]

Don't waste time on your answers because the OP won't apply any of what you advise anyway, and will show up again in a few months with the same questions. This thread is almost an identical copy of this one from last year ->  Getting a 2nd Hardware Wallet Nano Ledger S Plus For Daily Trading?

[satscraper]

Most people here have two nano ledgers?  One for long term storage and one for trading or daily usage?  

There is no need for that.

One device allows you to have multiple wallets with multiple pins, just use a different passphrase for each wallet.

https://www.ledger.com/academy/passphrase-an-advanced-security-feature

One Ledger  device is capable to have not more than two wallets with individual pins assigned for each. Those PINs with passphrases assigned and SEED  are kept in BOLOS, operating system that in turn is in non-volatile memory of secure element.

However there is an option to create  pin-less wallets (or as it referred by ledger itself temporary passphrase wallets)   in a sense one need  to enter relevant  password every single time to have the  access to that wallet. The number of such wallets is not limited because pertaining passphrases are not kept by BOLOS forever and thus, there is no need for extra memory.

[Wapfika]

It’s a waste of money to have both ledger just to separate holding and trading because Ledger supports multiple wallet and you can remove the address that you want to be hidden for holding purposes and just backup the seed phrase while use other wallet wallet for your trading. This way you can use your one ledger wallet with the two purpose that you mention since you only need seed phrase to import your wallet again on the ledger to gain access.

Also Electrum is perfect choice if you want to store asset from trading so that your device will not be damage by your daily use. Hardware wallet materials is weak especially the buttons which is easy to break if you will keep pressing it oftentimes.

[hZti]

If you don’t want to touch your holdings for a long time and want completely separate devices you can also just record the bitcoin addresses and seed and then reset your ledger to create a new seed an everything. You can then simply send Bitcoin to the recorded addresses and if needed put in the seed to be able to spend the bitcoins from your holdings.
I also do this so I’m not spending my holdings easily and also be more secure if my hardware wallet will be stolen.