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Author Topic: Are you using a hardware wallet to store your coins?  (Read 894 times)
staking (OP)
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November 23, 2018, 02:04:20 PM
 #1

Hardware wallets are state of the art devices to store your coins or tokens safely.

There are still many misconceptions about these devices. Let's talk about it!

For instance, a lot of people think that if they lose their hardware wallet, their coins are lost. This is not the case. If you lose your hardware wallet device, or if it's stolen, you can always safely restore your accounts on another wallet. All you lose is the hardware device itself, not your accounts.

The main advantage is that you never have to expose your private keys, neither for storing your coins, nor for doing transactions. It makes it almost impossible to compromise your coins, even if your computer's operating system is hacked into. Thus if you're serious about storing your coins for the long term, a hardware wallet is highly recommended.

Do you use a hardware wallet?
LeetPoolsOP
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November 23, 2018, 02:08:28 PM
 #2

I'm not using a har ware. for me it's more safety to hold my money on different exchanges and in few cold wallets. split between mew/blockchain info/eos etc.
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November 23, 2018, 02:13:57 PM
 #3

I use it to store my savings because as long as I have the control on my coin it is hard for me to save it unlike storing my coins on hardware yes i still have the control but it has more process rather than storing on softwallet.
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November 23, 2018, 02:14:06 PM
 #4

I don't use and still use MEW, I'm not interested because the price of expensive wallets in my opinion. although the security aspect is safer but haven't thought of moving assets to the wallet hardware.

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namlong
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November 23, 2018, 02:15:50 PM
 #5

Hardware wallets are state of the art devices to store your coins or tokens safely.

There are still many misconceptions about these devices. Let's talk about it!

For instance, a lot of people think that if they lose their hardware wallet, their coins are lost. This is not the case. If you lose your hardware wallet device, or if it's stolen, you can always safely restore your accounts on another wallet. All you lose is the hardware device itself, not your accounts.

The main advantage is that you never have to expose your private keys, neither for storing your coins, nor for doing transactions. It makes it almost impossible to compromise your coins, even if your computer's operating system is hacked into. Thus if you're serious about storing your coins for the long term, a hardware wallet is highly recommended.

Do you use a hardware wallet?
I use, and I advise everyone to buy a hardware wallet, it is very convenient, but most importantly, safe. You can avoid a lot of problems by simply buying a hardware wallet.

Turkish88
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November 23, 2018, 02:18:18 PM
 #6

Never think about it. i was hacked one time at the beginning.
Now i am increase my security, for using hardware wallet you must have big moneys or dont understand nothing in cyber security

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MadGamer
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November 23, 2018, 05:09:08 PM
 #7

Some people in the crypto scene could be considered as a lost case, to be honest. They don't want to buy a HW and then complain about losing thousands of dollars.

A hardware wallet is no longer a luxury, It should not be something optional. If you join the crypto world, you must buy a hardware wallet for the simple reason that anything else is not safe.

If you don't, it simply means that you don't care about losing your funds. Exchanges are under attacks from hackers, doing inside jobs or simply locking people accounts for silly reasons, malwares are getting more sophisticated that an anti virus will not help etc.

Trezor and Ledger nano S have both good offers right now because of the Black Friday, It might be a good moment to grab one.
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November 23, 2018, 05:13:06 PM
 #8

If we are talking about safe use, I would probably all the same advised to use this kind of wallets, because cryptocurrency as a whole is a very important matter for me, because I think that using a hardware wallet is a necessity.
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November 23, 2018, 05:16:43 PM
 #9

I am quite surprise to read the first few comments. I guess their online wallets have not been compromised yet. I just bought one and waiting for it to be delivered. I agree that it is the safest wallet available out there. You have full control and no need to worry about phishing.
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November 23, 2018, 05:17:09 PM
 #10

I prefer to store my coin with a node. It gives you a percentage interest. This is what I do with Horizen, at least my coins are working while I sleep  Grin
But other than that I also own Ledger wallet to store  a few coins, this is my main vault.

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abake
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November 23, 2018, 05:26:54 PM
 #11

Yeah I think hardware wallets are the best options. I'm using a ledger Nano S right now. It's a good one when it comes to security, better than software wallets which may warrant you to keep copying and pasting private key or importing, creating more exposure to hacking.

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November 23, 2018, 05:32:01 PM
 #12

When will growth begin?
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November 23, 2018, 05:37:59 PM
 #13

Yep it's true. If anyone lose their hardware wallet they'll be able to recover it by buying another one but the problem is the price of a hardware wallet is not really cheap Smiley). For me, I'm not using a hardware wallet but until now, all my cryptocurrencies are still fine without being hacked.

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mongkie
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November 23, 2018, 06:04:45 PM
 #14

no i dont. i am afraid that one time i cant open it anymore. i do use web wallets where there are customer service representatives to help in access. i do keep my keys responsibly and it is more economical.

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November 23, 2018, 06:09:18 PM
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I don’t see any reason to keep funds on such a wallet, I never heard that the usual wallet would be hacked  Huh
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November 23, 2018, 06:10:54 PM
 #16

Sure I will put my coins on my ledger nano S everytime it can handle that token. I really don't understand why people still don't use hardware wallet now prices are quite cheap for them.
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November 23, 2018, 06:14:12 PM
 #17

Sure I will put my coins on my ledger nano S everytime it can handle that token. I really don't understand why people still don't use hardware wallet now prices are quite cheap for them.
Because lot of people still don't understand the different types of wallets we have to store our cryptos,most of the users using the online wallets like blockchain.info wallet or bitcoin to store their coins that is why they are losing their coins and when we can teach the importance of using a hardware wallet we can save lot of hacks happening in personal.
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November 23, 2018, 06:27:41 PM
 #18

When is growth?Huh
staking (OP)
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November 25, 2018, 01:49:26 AM
 #19

no i dont. i am afraid that one time i cant open it anymore.

This is a common misconception. It doesn't matter if your device stops working, is lost, or stolen. As long as you have your recovery phrase you can always access your accounts.

The most popular hardware wallet devices, Ledger Nano S and Trezor, allow you to recover your accounts on any hardware or software wallet that supports the same standards as the ones used by the device, which is BIP39/BIP44. All you need is your recovery phrase.

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November 25, 2018, 02:03:51 AM
 #20

Just HOLD
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