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readysalted89
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February 25, 2015, 11:49:08 AM |
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What if your hardware wallet breaks down? All electrical goods break down eventually through old age, and sometimes they gt broken in accidents. Do any of the hardware wallet come with back up facilities, and what if someone steals your back up?
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Jakesy
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Merit: 10
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February 25, 2015, 05:47:22 PM |
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What if your hardware wallet breaks down? All electrical goods break down eventually through old age, and sometimes they gt broken in accidents. Do any of the hardware wallet come with back up facilities, and what if someone steals your back up?
I believe most, if not all, of the wallets are HD wallets. Meaning, your password is randomly generated 12 (or 24) word string. You HAVE to write it down yourself and store it in a safe location. Yes, overtime it could become corrupted or break down - but this "passphrase" will allow you recover all of your private keys on any type of hardware with the same standards. For example, if my ledger wallet fails I can purchase a trezor wallet next. All I have to do is select the recovery option, input my seed words, and voila!
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dothebeats
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Activity: 3738
Merit: 1354
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February 25, 2015, 06:02:23 PM |
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What if your hardware wallet breaks down? All electrical goods break down eventually through old age, and sometimes they gt broken in accidents. Do any of the hardware wallet come with back up facilities, and what if someone steals your back up?
I believe most, if not all, of the wallets are HD wallets. Meaning, your password is randomly generated 12 (or 24) word string. You HAVE to write it down yourself and store it in a safe location. Yes, overtime it could become corrupted or break down - but this "passphrase" will allow you recover all of your private keys on any type of hardware with the same standards. For example, if my ledger wallet fails I can purchase a trezor wallet next. All I have to do is select the recovery option, input my seed words, and voila! One of the reasons why it is good to remember and write down EVERY passphrase you have that has something to do with money. When the hardware breaks down, you can easily recover it by typing the passphrase and recover it.
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dothebeats
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Activity: 3738
Merit: 1354
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February 25, 2015, 06:03:41 PM |
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I'm sorry but I cannot watch the video in this phone, but can you tell me how does a Trezor wallet work? I've asked the same question in the past and I still can't seem to understand how it works. Sorry for being a dumb noob here.
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koelen3
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Sooner or later, a man who wears two faces forgets
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February 25, 2015, 06:11:46 PM |
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Really awesome video and love all about it! Trezor seems fit for me as am not that tech savvy Thank you
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koelen3
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Activity: 1022
Merit: 1007
Sooner or later, a man who wears two faces forgets
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February 25, 2015, 06:12:47 PM |
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I'm sorry but I cannot watch the video in this phone, but can you tell me how does a Trezor wallet work? I've asked the same question in the past and I still can't seem to understand how it works. Sorry for being a dumb noob here.
Here , try this http://doc.satoshilabs.com/trezor-user/index.htmlI really liked this hardware wallet and it seems pretty amazing for just 119$
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jbrnt
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February 25, 2015, 06:15:39 PM |
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Thanks for the review. Can you state the price of each wallet on the OP? I think it is an important consideration for users.
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dothebeats
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Activity: 3738
Merit: 1354
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February 25, 2015, 06:55:42 PM |
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I'm sorry but I cannot watch the video in this phone, but can you tell me how does a Trezor wallet work? I've asked the same question in the past and I still can't seem to understand how it works. Sorry for being a dumb noob here.
Here , try this http://doc.satoshilabs.com/trezor-user/index.htmlI really liked this hardware wallet and it seems pretty amazing for just 119$ I'm halfway in this doc. The description is indeed amusing and makes me want to buy the hardware wallet. Though it seems too costly for me, I still want to buy this one. Thanks for the doc you've given me. Saved me time and effort.
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neurotypical
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February 25, 2015, 07:01:14 PM |
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Wow I didnt know a lot of alternatives to trezzor exists, will look it up.
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koelen3
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Activity: 1022
Merit: 1007
Sooner or later, a man who wears two faces forgets
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February 25, 2015, 07:05:54 PM |
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I'm sorry but I cannot watch the video in this phone, but can you tell me how does a Trezor wallet work? I've asked the same question in the past and I still can't seem to understand how it works. Sorry for being a dumb noob here.
Here , try this http://doc.satoshilabs.com/trezor-user/index.htmlI really liked this hardware wallet and it seems pretty amazing for just 119$ I'm halfway in this doc. The description is indeed amusing and makes me want to buy the hardware wallet. Though it seems too costly for me, I still want to buy this one. Thanks for the doc you've given me. Saved me time and effort. You welcome! I would recommend not to buy it if you don't still have proper knowledge on the subject , do learn everything on Private keys and using wallet from newbie section to avoid any problem with hardware wallet's in future though Trezor's support is topnotch in helping out
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dothebeats
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Activity: 3738
Merit: 1354
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February 25, 2015, 07:09:30 PM |
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I'm sorry but I cannot watch the video in this phone, but can you tell me how does a Trezor wallet work? I've asked the same question in the past and I still can't seem to understand how it works. Sorry for being a dumb noob here.
Here , try this http://doc.satoshilabs.com/trezor-user/index.htmlI really liked this hardware wallet and it seems pretty amazing for just 119$ I'm halfway in this doc. The description is indeed amusing and makes me want to buy the hardware wallet. Though it seems too costly for me, I still want to buy this one. Thanks for the doc you've given me. Saved me time and effort. You welcome! I would recommend not to buy it if you don't still have proper knowledge on the subject , do learn everything on Private keys and using wallet from newbie section to avoid any problem with hardware wallet's in future though Trezor's support is topnotch in helping out I'll look into digging deeper to hardware wallets--particularly Trezor--as I'm much more familiar with paper wallets and softwares. Again, thank you for the heads up and information.
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cozk
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February 25, 2015, 11:29:52 PM |
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Would.Not.Trust.
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