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Author Topic: Cold wallets  (Read 178 times)
KRogers02 (OP)
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October 22, 2018, 08:12:35 AM
 #1

I want to hold my crypro in cold wallet. Is there any other cold wallet like Ledger? Or Ledger is the best one?
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October 22, 2018, 10:13:27 AM
 #2

Ledger nano S and Trezor are the most affordable, reputable and supported by multiple wallet providers and services, they're the best options for now. If you have some coins in mind though, make sure to check If they are supported.
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October 22, 2018, 12:58:48 PM
 #3

You can use electrum cold storage as other alternative option as cold wallet you can check more information about "electrum cold storage" here http://docs.electrum.org/en/latest/coldstorage.html
Just always make sure that you generate your wallet offline to be a safety of your funds.

The above recommendation is hardware wallet but both of them are safe to use if you are planning to hold your crypto for a long time.
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October 22, 2018, 12:59:54 PM
 #4

I want to hold my crypro in cold wallet. Is there any other cold wallet like Ledger? Or Ledger is the best one?
These are hardware wallets, cold wallet is for example paper wallet. Which is free to generate/create yourself.
Im using online services for that, but more wealthy people buy hardware wallets which are easier to use than paper wallet.
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October 22, 2018, 01:01:25 PM
 #5

The suggestion that I've been given by many people has been Trezor, pretty exclusively Trezor. I've been told that ledger is just a cheaper, less secure version of a Trezor; if you are looking for a storage solution similar to a ledger, but better, than simply opt for the Trezor. Look at their security model, and more information about them on their website. https://trezor.io/

They support tons of coins and offer more protection than any other hardware wallet that I know of.
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October 22, 2018, 02:07:24 PM
 #6

The suggestion that I've been given by many people has been Trezor, pretty exclusively Trezor. I've been told that ledger is just a cheaper, less secure version of a Trezor; if you are looking for a storage solution similar to a ledger, but better, than simply opt for the Trezor. Look at their security model, and more information about them on their website. https://trezor.io/

They support tons of coins and offer more protection than any other hardware wallet that I know of.

I personally prefer Trezor over Ledger as well, but from what I've gathered so far both seem to be en par in terms of security.

They both have a good track record in fixing vulnerabilities in a timely manner and as far as I'm aware of neither has had blatant design flaws in terms of security. For what it's worth Ledger Nano S supports longer passphrases than both Trezor versions (100 ASCII characters vs 50 ASCII characters) however this only becomes relevant once you accidentally make your seed phrase available to the public, in which case you should move your coins anyway.

TLDR; both Trezor and Ledger are fine, as long as you purchase them from the producers directly:

https://trezor.io/
https://www.ledger.com/products/ledger-nano-s

The rest is up to personal preference in terms of coins supported and usability. AFAIK you can only run a limited number of wallet apps on Ledger at a time while Trezor supports all coins it supports straight out-of-the-box, so keep that one in mind.

On a sidenote, there's also KeepKey which seems to be fairly trusted but rarely used. Other than that there have been a couple of new hardware wallets on the block lately, with no track records and little to show for except for flashy designs and product descriptions full of cryptobabble. I'd stay as far away from those as possible.

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October 22, 2018, 05:27:41 PM
 #7

Is there any other cold wallet like Ledger?
Apart from other suggestions, you'll find a few more on the following link: Blog reviewing Bitcoin Hardware Wallets in-depth (no ads or affiliate links)
- Links on that thread, redirects to their new website (they migrated all of the reviews + there's another missing review from the list [found on "blog tab"]).

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October 23, 2018, 02:36:08 AM
 #8

There is also this idea that you just use an old laptop and download a desktop wallet like electrum.

After that, you'll send all the amount that you want to keep there and you'll never connect to the web.

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October 23, 2018, 02:53:42 AM
 #9

I want to hold my crypro in cold wallet. Is there any other cold wallet like Ledger? Or Ledger is the best one?

Ledger is a hardware wallet, which I don't think of as cold storage. Cold storage implies a device that never connects to the internet. Hardware wallets are intended to shield your private keys from your [potentially compromised] online device, but there are multiple known attack vectors -- firmware vulnerabilities, supply chain attacks, side channel attacks, etc.

HeRetiK's post breaks down Trezor vs. Ledger pretty well, if that's what you're looking for.

My cold storage is either on encrypted wallet.dats on offline storage mediums or in an air-gapped computer that's never been connected to the internet. Paper wallets (generated offline) are another option.

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