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Author Topic: Can we 100% trust hardware wallets?  (Read 140 times)
cryptoproLK
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June 11, 2018, 08:25:26 AM
 #1

Whats your idea about this?

Are these hardware wallets 100% secured? Aren't they hackable?

When our seed is generated on our hardware wallet, are these hardware wallet companies keep a backup of our seed on their servers?

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June 11, 2018, 09:51:10 AM
 #2

First off, nothing is 100% secure and unhackable.

Some hardware wallets like the Ledger Nano S are open source(idk about Trezor), so people will know if they do some shady stuff. and no, they don't keep a backup of our seed on their servers. Hardware wallets aren't 100% secure, but it's one of the most secure options out there(along with paper wallets, but only if made in a secure manner).

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June 11, 2018, 10:18:53 AM
 #3

If the hard wallet is lost, what can be done? This problem cannot be solved.
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June 11, 2018, 10:34:26 AM
 #4

I suggest that you just trust the private key, as long as you can store the private key, that is the safest. Everything else is just an aid.
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June 11, 2018, 10:44:44 AM
 #5

As far as I know, they  + paper wallets are the safest yet. Keeping your private keys offline is inherent to staying safe. If it is online, there is always a chance it can be compromised.



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June 11, 2018, 11:15:04 AM
 #6

If you can't read the code, your trust will not be perfect "100%."[Unless you trust someone who can read the code for you]
High safety characterizes these wallets "except for misuse or negligently.", so the levels of trust will be high.
No one puts a gun on your head to choose a wallet and if you do not trust all, create your one.

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June 11, 2018, 11:16:49 AM
 #7

First off, nothing is 100% secure and unhackable.

Some hardware wallets like the Ledger Nano S are open source(idk about Trezor), so people will know if they do some shady stuff. and no, they don't keep a backup of our seed on their servers. Hardware wallets aren't 100% secure, but it's one of the most secure options out there(along with paper wallets, but only if made in a secure manner).

if they don't keep backup of our seeds on their servers how we can recover our accounts if we lost hardware wallet or it gets damaged?
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June 11, 2018, 11:20:57 AM
 #8

I suggest that you just trust the private key, as long as you can store the private key, that is the safest. Everything else is just an aid.

Buy entering private key on a web wallet is unsafe. DNS attack or phishing attack or keylogger can easily capture your private key and can steal your tokens.
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June 11, 2018, 11:31:58 AM
 #9

I think we can say that hardware wallets are 90% safe because I never heard someone hack with their hardware wallet except for trezor because I heard that someone stole their coins and according to other people that Trezor is hackable that is why they fix it and update it with secured firmware so right now they are now safe as what they said that is why they are not 100% safe.
If you are planning to use hardware wallet I suggest that you choose ledger nano s because I think it is more secure and I never heard any issue using this wallet.


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June 11, 2018, 11:40:54 AM
 #10

If the hard wallet is lost, what can be done? This problem cannot be solved.

You have the possibility of restoring your private keys with a list of 25 passwords (ledger nano s)
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June 11, 2018, 11:46:51 AM
 #11

First off, nothing is 100% secure and unhackable.

Some hardware wallets like the Ledger Nano S are open source(idk about Trezor), so people will know if they do some shady stuff. and no, they don't keep a backup of our seed on their servers. Hardware wallets aren't 100% secure, but it's one of the most secure options out there(along with paper wallets, but only if made in a secure manner).

Please add air gapped cold wallets to the "safe" list. These are machines (PC, laptop, Raspberry Pi, ..) that have the wallet on them and will never go online. They are used only to sign transactions. It's the safest approach I've read of if you also want to spend Bitcoin.


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June 11, 2018, 11:50:09 AM
 #12

Even if you have a hard wallet, but also consider where to put him is the safest. And now the hard wallet cannot store all types of tokens.
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June 11, 2018, 11:51:36 AM
 #13

The best thing you can do is to make your crypto transactions from a computer you never use otherwise. If all the people want to trust hardware wallets, especially if they are transacting actively all the days, they have to remember they are a black-box that they don’t know what vulnerabilities they have.
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June 11, 2018, 12:40:30 PM
 #14

The best thing you can do is to make your crypto transactions from a computer you never use otherwise. If all the people want to trust hardware wallets, especially if they are transacting actively all the days, they have to remember they are a black-box that they don’t know what vulnerabilities they have.

still possible to be hacked in some way with a phishing site or a physically installed virus and such, while a hardware wallet can be plugged in to the worst virus computer in the world with no risk involved.

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June 11, 2018, 01:28:34 PM
 #15

A true bitcoiner is wise, storing crypto is not juat in one place means the more you have it the more wallets you must have so that there would be a division to some of it and it is the wisest thing you will make,  i might say that in a 100 % security  hardware wallets has 80-85 % of secureness.

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June 11, 2018, 01:39:09 PM
 #16

trezor one is completely open source, including the code, hardware and schematic. you can build one yourself if you want. just need to trust the chip maker that the chip used has no back door in it.

nano s has proprietary code due to the security chip (chip maker will not give data unless NDA signed). so take that as you will.

for coins that trezor/nano do not support, many coins have paper wallet generators. hopefully open source.

or as suggested up stream use a computer thats NEVER online to sign transactions.

myself, i trust my trezors pretty much 100%. had one for a couple years, never a problem with it. just secure your seeds well, and use a passphrase on top of it.

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June 11, 2018, 01:41:06 PM
 #17

I had no problems with such wallets. But in any case, I keep them on a flash drive and not on the computer.

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June 11, 2018, 03:03:45 PM
 #18

Whats your idea about this?

Are these hardware wallets 100% secured? Aren't they hackable?

Of course we cannot fully put our 100% trust in these hardware wallets since these can still be tampered. I heard stories of hardware wallets bought online (other than from where it came from) that the owners felt they were tampered. So best is to buy them from the factory and not from an online reseller.


When our seed is generated on our hardware wallet, are these hardware wallet companies keep a backup of our seed on their servers?

They don't, so the responsibility of protecting them is solely yours. Good luck in not losing them.
Theb
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June 11, 2018, 04:07:59 PM
 #19

100%? Not even hardware wallets guarantee safe storage for your Bitcoin or other cryptocurrencies, some wallets are not even safe to be bought especially the ones that are 2nd hand and the ones that don't directly come from retailers. The attack is called the "Evil Maid Attack" the attack has the ability to retrieve your pin, recovery seed, and passphrases, this is common to tampered hardware wallets, the malware can also be put unknowingly to users even after they bought the hardware wallet, the hackers just needs to know where your hardware wallet is and they could easily put the malware. All the user has to do is to insert their hardware wallet to a pc with internet connection and the hacker will just strike at the right moment.

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Kunzaii
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June 11, 2018, 04:13:42 PM
 #20

If you break it, it's gone... So you can't trust hardware wallets for 100%. Put it in a safe and you're getting close to 100%.

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