Hi guys,
Firstly, thanks to anyone who replies with their expertise in this, it is much appreciated for a 'not-so-tech-savvy' bloke like myself.
I am new to the Crypto game and the first thing I learned was is that security is key. So I purchased a Ledger Nano S. I am realising that there is still a lot to learn in regards to moving these bitcoins around, so I was hoping to have some questions answered.
I currently have btc and other altcoins on a couple of separate exchanges. IE: Coinspot and Independent Reserve (They are Australian).
They told me that I can transfer to my ledger nano s no problem from their 'site wallets'. But I know there is a conflict with private and public keys.
1. So my first question is, can I simply transfer from both exchanges or wallets to my hardware wallet without needing to reset after each download, or without risk of losing what is currently stored on there from say ,coinspot, then it gets lost when I download what is on independent reserve to my hardware wallet? I mean what if even I downloaded btc from 7 exchanges all with the same ledger, same code and never resetting it?
2. In addition to this I am curious about how seeding will work. I was told that if you have a paper wallet that you only 'seed' once, meaning you unload all your coins from the paper wallet because then after that it is not safe. Does that go the same for my ledger nano s? If I unload some coins onto a website, are the remaining coins on my ledger not safe?
3. My last question seems silly but perhaps it isn't. If I plan on buying and putting the ledger nano S away in a safe to gather dust for 40 years, what safety is there for that? I mean perhaps computers wont even take USB by then, or the software degrades, or ledger nano companies dies so my ability to reclaim via my hidden seed is gone? Any clarity with this would help.
Again, thanks for anyone who takes to time to explain this
Andy.