Is Ledger Nano S REALLY SAFE ?? Best Hardware Wallet ?

[Subutai]

Just generate address/private key pairs and keep them safe.

Hardware wallets are probably best for new comers, they are handy and they are compatible with many tokens.

For people that can generate and manage their own addresses safely maybe there's no need for a hardware wallet.

[1714951559]

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[1714951559]

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[jerry0]

How long does it take to receive it from the official site?

[7jaka7]

How long does it take to receive it from the official site?

I got mine in one week, but as you can see on their website: https://www.ledgerwallet.com/products/ledger-nano-s, they are our of stock.

Currently out of stock. Order today and get prioritary shipping from March 26

So it will take about 2 months to receive it atm. And be careful if you will buy from resellers. (https://www.reddit.com/r/btc/comments/7ofrqf/warning_brutal_scam_guy_buys_a_ledger_nano_wallet/)

[jerry0]

When exactly did you buy the ledger where you got it that quickly?  Where are you located?

So you would suggest not buying one on amazon.com then right?  So basically as long as you reset it, then its no problem no matter what?

[7jaka7]

When exactly did you buy the ledger where you got it that quickly?

I bought it before the new year, I don't know exact date. (Ledger wasn't out of stock yet at that time.)

Where are you located?

Slovenia, Europe.

So you would suggest not buying one on amazon.com then right?

If you are not in a hurry and you don't need Hardwallet urgently I would suggest you to wait and buy it from Ledger official website.
IMO in a year or two there will be a few more hardware wallets manufactures and their price should go down. (Like USB)

So basically as long as you reset it, then its no problem no matter what?

I believe so. Since it should generate new mnemoric seed (private key). But please read more about this, since I'm not sure.

[Blockchaincat]

What happens if your ledger nano s no longer works etc?  Could you restore your wallet on a computer if you cannot get another nano ledger s?

Yes, it can be restored. When you initialize your wallet, you will see the list of keywords that you should to record. And you can to restore the wallet using these words.

[Bezobraznike]

How long does it take to receive it from the official site?

I got mine in one week, but as you can see on their website: https://www.ledgerwallet.com/products/ledger-nano-s, they are our of stock.

Currently out of stock. Order today and get prioritary shipping from March 26

So it will take about 2 months to receive it atm. And be careful if you will buy from resellers. (https://www.reddit.com/r/btc/comments/7ofrqf/warning_brutal_scam_guy_buys_a_ledger_nano_wallet/)

   They are out of stocks and you can order it, but they will start
with distribution only in the beginning of April. Prices are going down
and I think I can wait couple more months before I buy it.
   I am from Serbia, that is not so far from Slovenia and on their offical
site with delivery price is 100 Euros, not so much for people that like
to be protected.
   Ledger Nano S or Ledger Blue, I have a bit more time before I make my
final decision. Blue is my favorite! Looks better than any Trezor.

[luca1073]

Hi,

have a doubt about the ledger nano s and the 24 word recovery phrase. if the 24 words are already decided beforehand and already assigned to each wallet isn't this is a breach of security? infact if there was an employee or somebody (or a system) detecting what each wallet 24 phrase is , can't it be restored on another wallet and the private keys stolen (and the money)?

or is the recovery phrase chosen by us at the moment , after we open the package?

[mocacinno]

Hi,

have a doubt about the ledger nano s and the 24 word recovery phrase. if the 24 words are already decided beforehand and already assigned to each wallet isn't this is a breach of security? infact if there was an employee or somebody (or a system) detecting what each wallet 24 phrase is , can't it be restored on another wallet and the private keys stolen (and the money)?

or is the recovery phrase chosen by us at the moment , after we open the package?

The recovery phrase should be generated by you... This is usually done when you initialse the hardware wallet. If you receive a hardware wallet that was already initialised, you shouldn't use it (IMHO). Hardware wallets are cheap, you shouldn't buy a used one, but instead buy a new one directly from the company itself, so in case it's initialised you can consider it to be compromised, and you have no idear if the person comprommising the hardware wallet messed with the hardware itself to.

If you don't trust the company itself, you can always use different (offline) tools to generate a seed phrase, and enter this independant seed phrase in your hardware wallet.

BTW: answering to a thread that has been inactive for 6 months is frowned upon. You did the right thing by using the search function and not creating a new thread, but in this case it might have been better if you found a more recent thread or created a new one anyways

[luca1073]

Hi,

have a doubt about the ledger nano s and the 24 word recovery phrase. if the 24 words are already decided beforehand and already assigned to each wallet isn't this is a breach of security? infact if there was an employee or somebody (or a system) detecting what each wallet 24 phrase is , can't it be restored on another wallet and the private keys stolen (and the money)?

or is the recovery phrase chosen by us at the moment , after we open the package?

The recovery phrase should be generated by you... This is usually done when you initialse the hardware wallet. If you receive a hardware wallet that was already initialised, you shouldn't use it (IMHO). Hardware wallets are cheap, you shouldn't buy a used one, but instead buy a new one directly from the company itself, so in case it's initialised you can consider it to be compromised, and you have no idear if the person comprommising the hardware wallet messed with the hardware itself to.

If you don't trust the company itself, you can always use different (offline) tools to generate a seed phrase, and enter this independant seed phrase in your hardware wallet.

BTW: answering to a thread that has been inactive for 6 months is frowned upon. You did the right thing by using the search function and not creating a new thread, but in this case it might have been better if you found a more recent thread or created a new one anyways

thanks for your answer and detailed info!

[bitbro678]

I'm planning to buy a hardware wallet recently. It's hard to make decision. It seems Ledger Nano S, keepkey and Trezor are all good. But still a little worried about the case that the wallet can be attacked by hackers via usb. I saw a youtube video talking about another brand wallet named Cobo Vault. It only has a charging port. Sounds interesting. Did anyone see this wallet before?

[bob123]

I'm planning to buy a hardware wallet recently. It's hard to make decision. It seems Ledger Nano S, keepkey and Trezor are all good. But still a little worried about the case that the wallet can be attacked by hackers via usb. I saw a youtube video talking about another brand wallet named Cobo Vault. It only has a charging port. Sounds interesting. Did anyone see this wallet before?

I'd say the best are the nano s > trezor > keepkey (my opinion).

The whole purpose of a hardware wallet is that it can be attached to a malicious computer, and still be safe from funds being stolen.
The reason for that is that the private keys are stored in an isolated environment inside of the hardware wallet.

They can NOT be attacked via USB if they don't have a vulnerability.


I have looked at cobo vault, and IMO this doesn't make sense. They claim that there is no connection to the outside. But i couln't find how transactions are being transmitted/broadcasted.
They claim the updates are done via inserting a SD card. This is the same as via USB. Malware can be transmitted via the SD card.

IMO, a company which claims their wallet is kind of unhackable because there is no connection to the outside, while using SD cards to transmit updates without understanding that this creates the same risks, isn't trustworthy at all.

I would advise to stay with the most known and tested ones (ledger, trezor, keepkey).

[o_e_l_e_o]

I have looked at cobo vault, and IMO this doesn't make sense. They claim that there is no connection to the outside. But i couln't find how transactions are being transmitted/broadcasted.

https://www.indiegogo.com/projects/cobo-vault-military-grade-cryptocurrency-wallet#/

According to their indiegogo, "A patent-pending Dynamic QR Code transfers data between hot and cold devices to prevent hackers from capturing it in transmission." I still don't really understand how that is going to work, and surely whatever device you are using to generate or scan QR codes from this Cobo device needs to also be secure? No point having a hardware wallet if all transactions have to go via your mobile phone. I also don't understand how the SD-card-only-updates is supposedly more secure? So presumably you have to download the firmware on to your PC, transfer it on to an SD card, and then insert that card in to your wallet? There are so many potential things that go wrong in that chain of events.

Not to mention that the wallet hasn't even been released yet, so has had no external testing done on it, and they look to be charging somewhere from $300-400 for it. Why spend 4x the money on an untested device when you can just buy a Ledger?

[dutchlincoln]

Well, if the ledger nano s in combination with ledger live decides to work again, its fair. But so often it doesnt work, sync, or able to access your funds, its a unreliable piece of shit to me...
Feels like storing your creditcard under the cardbox of the junkie under the bridge as a safe storage... 

[bob123]

Well, if the ledger nano s in combination with ledger live decides to work again, its fair. But so often it doesnt work, sync, or able to access your funds, its a unreliable piece of shit to me...

Ledger works perfectly fine with ledger live.

You might want to consider creating a new thread containing all relevant information.
There seems to be something going wrong with your setup.

Briefly explain what happens and WHERE exactly it fails, we might be able to help you there.

[Connemara]

Well, if the ledger nano s in combination with ledger live decides to work again, its fair. But so often it doesnt work, sync, or able to access your funds, its a unreliable piece of shit to me...
Feels like storing your creditcard under the cardbox of the junkie under the bridge as a safe storage...  

You have some weird experience, man.
I've never ever had a problem with Ledger Nano S/Live.

Now they paused sync for BCH because of fork, but it's all stated clear in their app and on website.

[dutchlincoln]

Wll, here in our family we have 4 ledgers. All of them experience problems every now and then. Is it with failures in upgrading, needing to delete all your wallets due to lack of space and installing them, wallets that are unreachable for over a week due to problems at ledger, synchonisation issues that not all transactions are processed. The latest problem was my DGB wallet wasnt synced for 3 days now, and no support available, only thru Email. Eventually i had to remove a folder and re-sync in again, building a new folder of transactions, and it started syncing again. Pitty though is that i had to find out thru differet forums, instead of the help of the crappy support..

[bob123]

Is it with failures in upgrading

Failures in upgrading the firmware or ledger live ?

I never had any problems with ledger live and only once a problem with updating the firmware (which could easily be resolved within a few minutes).

AFAIK, there was no firmware update the last few months. These are pretty rarely.

needing to delete all your wallets due to lack of space and installing them

This is not a problem at all.
Since ledger has revamped their code base, you are able to store more wallets on your ledger (especially those which share the same codebase, e.g. BTC and all forks).

The space is limited to prevent malware being loaded onto the ledger (due to low amount of storage available). This is a 'security feature', not a bug/problem.

Uninstalling/installing applications doesn't take longer than 10 seconds..

wallets that are unreachable for over a week due to problems at ledger

Didn't face this problem with non-shit-coins (BTC, ETH, etc..) yet.

synchonisation issues that not all transactions are processed.

I haven't faced this issue yet either.

[HCP]

Likewise... I've never had sync issues with the Ledger... but again, I only really use the "Big" crypto like BTC and ETH etc. So, I can't comment on the reliability of some of the altcoin wallets.

Although, I did have one somewhat scary moment a while back when doing a firmware upgrade that "went wrong". It was that one "big" update that seemed to cause a lot of issues for a lot of people (I think it was 1.3 to 1.4? ). At one point I thought I had bricked the device as it keep coming up with a really weird "update" message on the screen and just wouldn't do anything!!?!.

Thankfully, I managed to fix it relatively easily (from memory, it required an uninstall/reinstall of Ledger Manager Chrome app and some button holding while unplugging/replugging the device) and haven't had any issues since.

I would also like to add that Ledger Live seems a lot more "stable" than the old Chrome webapps.

[dutchlincoln]

Well, i'm in contact with ledger support for almost a week now (they have deleted their chat support; fantastic customer service... ) and still nothing.
Now, they advise to re-install the old ledger chrome app and connect my devise to synchonise.
I miss my payments for the past week now. Thats not a good feeling i can tell...

Ledger live wont synchronise my DGB wallet, no payments show up.
The app that i installed again, says "this might take a few minutes"and im working on that one for over an hour also. (And needing to login again and again due to timeouts.)

Currently, i have no clue in how to get grip on my funds. It feels like i thrown my wallet into a trainstation, and hope i can get it back with the money still in... Thats about the feeling i've got right now. Not the safe feeling you should get from a expensive hardware wallet....

My recommendation: Let it go, and find a other hardware wallet thats safe.