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Author Topic: Should I buy 2 nanos?  (Read 883 times)
Fatoshi
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October 08, 2017, 06:17:54 PM
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I want to store bitcoin long term on nanos. Would it work if i buy 2 nanos to spread the risk. Is it possible to have two seperate wallets on one computer with 2 nanos?

Would this just add problems or spread the risk?

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October 08, 2017, 07:04:22 PM
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I want to store bitcoin long term on nanos. Would it work if i buy 2 nanos to spread the risk. Is it possible to have two seperate wallets on one computer with 2 nanos?

Would this just add problems or spread the risk?

It's extremely difficult to hack one nano. And generally, if you get into one you can get into both. You should be able to connect two ledgers to the same computer and have each with their own seed. You could possibly try using two different pieces of software (one for each) so a security problem with one like a virus/Trojan/bug is contained within that one ledger and doesn't damage the other (or get one ledger and one trezor as I understand you have to confirm trezor transactions from the trezor itself).

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October 08, 2017, 07:09:54 PM
 #3

I want to store bitcoin long term on nanos. Would it work if i buy 2 nanos to spread the risk. Is it possible to have two seperate wallets on one computer with 2 nanos?

Would this just add problems or spread the risk?

It's extremely difficult to hack one nano. And generally, if you get into one you can get into both. You should be able to connect two ledgers to the same computer and have each with their own seed. You could possibly try using two different pieces of software (one for each) so a security problem with one like a virus/Trojan/bug is contained within that one ledger and doesn't damage the other (or get one ledger and one trezor as I understand you have to confirm trezor transactions from the trezor itself).
I heard trezors are great but how can you assure they will keep to serve their purpose if the company itself goes bankrupt. I know you get your 12 word passphrase but will this guarantee safety in the future?
I feel like I would feel a lot more comfortable making my own offline usb wallet for cold storage than buy a userfriendly hardware wallet.
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October 08, 2017, 08:09:33 PM
 #4

I want to store bitcoin long term on nanos. Would it work if i buy 2 nanos to spread the risk. Is it possible to have two seperate wallets on one computer with 2 nanos?

Would this just add problems or spread the risk?

It's extremely difficult to hack one nano. And generally, if you get into one you can get into both. You should be able to connect two ledgers to the same computer and have each with their own seed. You could possibly try using two different pieces of software (one for each) so a security problem with one like a virus/Trojan/bug is contained within that one ledger and doesn't damage the other (or get one ledger and one trezor as I understand you have to confirm trezor transactions from the trezor itself).
I heard trezors are great but how can you assure they will keep to serve their purpose if the company itself goes bankrupt. I know you get your 12 word passphrase but will this guarantee safety in the future?
I feel like I would feel a lot more comfortable making my own offline usb wallet for cold storage than buy a userfriendly hardware wallet.

Trezor and ledger work effectively the same way.
If you look into it, you can access both your keys using an online light/spv wallet like electrum to get your private keys.

They both use BIP38 to generate the seed and the private keys. The coompany that make trezor cannot wipe them remotely as they don't connect to the internet, they instead use your computer to connect to the internet so anything you don't want to be downloaded onto them should be ontrollable from there as you can always blacklist the trezor website until you feel comfortable going through with an update.

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October 11, 2017, 10:04:54 PM
 #5

I think 2 nano ledgers would be a great idea as I noticed the space is very small to store more than 6 coins. I managed only 6 and that's all. Sad
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October 12, 2017, 08:18:40 AM
 #6

I think 2 nano ledgers would be a great idea as I noticed the space is very small to store more than 6 coins. I managed only 6 and that's all. Sad
You can just use the ledger Manager to uninstall and reinstall the various altcoin "apps" as you need... you won't lose you coins if you uninstall. All the wallets use the same seed to generate your addresses. As the seed doesn't change (unless you reset the hardware wallet) when you reinstall the app later, it will regenerate your previous wallet.

For instance, say you want to store some litecoin, install the litecoin app, transfer 10 litecoin to the generated address... but then you want to get some DOGE, so you uninstall the litecoin app... and install DOGE app... and receive 100000 doge to your wallet... then you decide to sell your litecoin, so you uninstall doge and reinstall litecoin app, and your 10 litecoin will still be there Wink

It's a bit of a nuisance if you want to deal with multiple currencies all at the same time, several times a day... but it is possible Wink

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October 12, 2017, 07:41:23 PM
 #7

Same goes for me. I am also deinstalling apps of Coins which I am actually not using (and only hodling).
But, it would be nice to store more apps on the Ledger anyway.

So, would the Ledger Blue solve this? Does it have more capacity? Or should I go for a second Ledger Nano S - because this would be cheaper ...
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October 12, 2017, 10:20:51 PM
 #8

In the past months I bought 1 Nano Ledger S, But it was too inadequate to store and store the coins I invested. That's why I ordered one more Nano Ledger.  Nano Ledger  wallet made me very sad Sad


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October 12, 2017, 10:31:35 PM
 #9

Spend some money for security is never wrong. Go and buy it if you need it! It's an investment, and you really should do that.

If you go to dedicated sections you will see a lot of users claiming that they have lost their bitcoins and other cryto currencies. Security is really important these days.

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October 12, 2017, 11:03:27 PM
 #10

I think buying 1 nano is enough to hold all of your bitcoin in one place since its secured and its not easily receive any  viruses.. since they are made this wallet to prevent viruses to control your wallet..
And i still not heard any issue of using it unlike trezor in past ago that there is someone said that trezor is hackable but in nano still not issue that i heard that can affect to the users..

In the past months I bought 1 Nano Ledger S, But it was too inadequate to store and store the coins I invested. That's why I ordered one more Nano Ledger.  Nano Ledger  wallet made me very sad Sad
What honestly the reason why ledger nano made you sad?

Bull Market is coming....
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October 26, 2017, 01:19:28 PM
 #11

I want to store bitcoin long term on nanos. Would it work if i buy 2 nanos to spread the risk. Is it possible to have two seperate wallets on one computer with 2 nanos?

Would this just add problems or spread the risk?

yeah that's good idea. you have to buy 2 nanos because 1 nano is not enough so try to take 2 nanos. these 2 are keep you are coin more safe. so lets try to take it for your coin keeping. in the market more wallets are available so you have to choose one best wallet. and off course nano is the best for usage. so you have to take and keep secure.
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October 26, 2017, 01:23:19 PM
 #12

I want to store bitcoin long term on nanos. Would it work if i buy 2 nanos to spread the risk. Is it possible to have two seperate wallets on one computer with 2 nanos?

Would this just add problems or spread the risk?
The nano s is a great hardware wallet.
It's more safe than a paper wallet and also have a paper backup. I advise you to buy it also in your situation
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October 27, 2017, 04:52:26 PM
 #13

I think buying 1 nano is enough to hold all of your bitcoin in one place since its secured and its not easily receive any  viruses.. since they are made this wallet to prevent viruses to control your wallet..
And i still not heard any issue of using it unlike trezor in past ago that there is someone said that trezor is hackable but in nano still not issue that i heard that can affect to the users..

In the past months I bought 1 Nano Ledger S, But it was too inadequate to store and store the coins I invested. That's why I ordered one more Nano Ledger.  Nano Ledger  wallet made me very sad Sad
What honestly the reason why ledger nano made you sad?
It was just a joke Smiley  I made a joke that it made me sad to pay more for a second Ledger. . My first Ledger wallet has only 320kb of space. For this reason, I was not able to hide all of my coins. The reason for this low KB area is high security. So when we load Ledger with his own operating system and wallets,  there's probably 10-20 kb of free space left. It is very difficult to get a virus into this narrow space. If you want to keep a lot of coins, you get a second Ledger.


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October 27, 2017, 04:58:58 PM
 #14

I think 2 nano ledgers would be a great idea as I noticed the space is very small to store more than 6 coins. I managed only 6 and that's all. Sad
You can just use the ledger Manager to uninstall and reinstall the various altcoin "apps" as you need... you won't lose you coins if you uninstall. All the wallets use the same seed to generate your addresses. As the seed doesn't change (unless you reset the hardware wallet) when you reinstall the app later, it will regenerate your previous wallet.

For instance, say you want to store some litecoin, install the litecoin app, transfer 10 litecoin to the generated address... but then you want to get some DOGE, so you uninstall the litecoin app... and install DOGE app... and receive 100000 doge to your wallet... then you decide to sell your litecoin, so you uninstall doge and reinstall litecoin app, and your 10 litecoin will still be there Wink

It's a bit of a nuisance if you want to deal with multiple currencies all at the same time, several times a day... but it is possible Wink
Will the "tablet" ledger still have this problem? Or will it have enough space for all wallet apps?
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October 27, 2017, 05:19:37 PM
 #15

if nano could be hack then bitcoin will ended. dont be paranoid.
btw you can use 2 wallet on nano too. you can set additional attached key with your first 24 digit seed key. you can control 2 different wallet with 2 different pin code.
i love this feature.

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October 27, 2017, 05:51:25 PM
 #16

I don't understand what is the point of having 2 of them. If 1 can be hacked so can the other. If you just want to spread the coins over two wallets I guess it only makes sense in that case. But still you must have some huge amounts of money if you are planning to do that.
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October 28, 2017, 11:15:58 AM
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Huge amounts? Depends on your definition of huge. A nano s is less than €100 shipped. If you currently have more than €200 worth of crypto, it's probably worth getting a hardware wallet... At that point, you're effectively storing more than the device is worth.

Considering most people spend more than that on iPhones and Samsung Galaxy's and laptops, I don't think it's too much to consider paying for the peace of mind and convenience without sacrificing security.

Not sure a second is mandatory... But it will help with secure recovery should one be lost/stolen/damaged.

Don't even really need a second for storing alt coins... You just need to uninstall/reinstall the different apps. One seed used for all wallet apps, so wallets and Coins aren't "lost" when doing this. Just inaccessible until you reinstall the appropriate app

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October 28, 2017, 12:11:10 PM
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Huge amounts? Depends on your definition of huge. A nano s is less than €100 shipped. If you currently have more than €200 worth of crypto, it's probably worth getting a hardware wallet... At that point, you're effectively storing more than the device is worth.

Considering most people spend more than that on iPhones and Samsung Galaxy's and laptops, I don't think it's too much to consider paying for the peace of mind and convenience without sacrificing security.

Not sure a second is mandatory... But it will help with secure recovery should one be lost/stolen/damaged.

Don't even really need a second for storing alt coins... You just need to uninstall/reinstall the different apps. One seed used for all wallet apps, so wallets and Coins aren't "lost" when doing this. Just inaccessible until you reinstall the appropriate app
Well, laptops and smartphones have both more utility and more technology stashed away in them, so it's only natural that they would be more expensive.

I wouldn't really bother with a hardware wallet for only $200 or even $2000 either, since it's easy to keep coins safe if you're careful and multiplying the coins is more lucrative due to the very low risk of losing them. With a stash worth tens of thousands or even hundreds of thousands I would definitely get a hardware wallet though. And in the millions probably two and stash one away in a safe.
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October 28, 2017, 06:24:42 PM
 #19

Huge amounts? Depends on your definition of huge. A nano s is less than €100 shipped. If you currently have more than €200 worth of crypto, it's probably worth getting a hardware wallet... At that point, you're effectively storing more than the device is worth.

Considering most people spend more than that on iPhones and Samsung Galaxy's and laptops, I don't think it's too much to consider paying for the peace of mind and convenience without sacrificing security.

Not sure a second is mandatory... But it will help with secure recovery should one be lost/stolen/damaged.

Don't even really need a second for storing alt coins... You just need to uninstall/reinstall the different apps. One seed used for all wallet apps, so wallets and Coins aren't "lost" when doing this. Just inaccessible until you reinstall the appropriate app
Well, laptops and smartphones have both more utility and more technology stashed away in them, so it's only natural that they would be more expensive.

I wouldn't really bother with a hardware wallet for only $200 or even $2000 either, since it's easy to keep coins safe if you're careful and multiplying the coins is more lucrative due to the very low risk of losing them. With a stash worth tens of thousands or even hundreds of thousands I would definitely get a hardware wallet though. And in the millions probably two and stash one away in a safe.

I don't agree with you. For anything larger than 1000$ I would get hardware wallet. Most people lose their private keys and seeds with desktop wallets and online wallets are definitely not safe.
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October 28, 2017, 07:03:54 PM
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Huge amounts? Depends on your definition of huge. A nano s is less than €100 shipped. If you currently have more than €200 worth of crypto, it's probably worth getting a hardware wallet... At that point, you're effectively storing more than the device is worth.

Considering most people spend more than that on iPhones and Samsung Galaxy's and laptops, I don't think it's too much to consider paying for the peace of mind and convenience without sacrificing security.

Not sure a second is mandatory... But it will help with secure recovery should one be lost/stolen/damaged.

Don't even really need a second for storing alt coins... You just need to uninstall/reinstall the different apps. One seed used for all wallet apps, so wallets and Coins aren't "lost" when doing this. Just inaccessible until you reinstall the appropriate app
Well, laptops and smartphones have both more utility and more technology stashed away in them, so it's only natural that they would be more expensive.

I wouldn't really bother with a hardware wallet for only $200 or even $2000 either, since it's easy to keep coins safe if you're careful and multiplying the coins is more lucrative due to the very low risk of losing them. With a stash worth tens of thousands or even hundreds of thousands I would definitely get a hardware wallet though. And in the millions probably two and stash one away in a safe.

I don't agree with you. For anything larger than 1000$ I would get hardware wallet. Most people lose their private keys and seeds with desktop wallets and online wallets are definitely not safe.
That may be true, but most people are also reckless and lazy monkeys. I managed to keep my ~5 year old keys safe to this day without any problems on OTG drives.

If someone can't keep $1000 safe they are not cut out for investing and should go back to a dayjob.
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