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Author Topic: Best Hardware wallet  (Read 188 times)
Little Mouse (OP)
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September 30, 2020, 05:16:43 AM
 #1

Due to crypto being illegal in my country, the interest on crypto is less and same applues in interest in hardware wallet too. I have used a hardware wallet long ago just for test purchase, it was not mine to be honest. Now, I have planned to purchase a hardware wallet. I know only trezor and ledger nano as hardware wallet, may be some others but can't remember the name and they don't supposed to be as popular as ledger nano and trezor. I need your suggestion. Which one I should purchase? To reduce the shipping cost, I have managed two more persons to purchase hardware wallet and I have seen Ledger Nano has a bundle pack of 3 pieces.
Please suggest me which one is more user friendly for newbies in hardware wallet and which one is better.

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Murat
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September 30, 2020, 05:27:28 AM
Merited by Little Mouse (1)
 #2

I recently bought trezor & have a 10% discount promo code. (PM me if you decide to order trezor) Recent hacks related to ledger is scary.

You may read this one very helpful - https://www.exodus.io/blog/trezor-vs-ledger/#:~:text=Trezor%20vs.-,Ledger%3A%20Supported%20Assets,while%20the%20Ledger%20supports%20~1250.&text=On%20the%20other%20hand%2C%20the,ADA%2C%20Tezos%2C%20and%20Ontology.

Also note - There is a custom duty you will need to pay. (Freindly reminder)

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September 30, 2020, 05:44:13 AM
Merited by ABCbits (1), Little Mouse (1)
 #3

I actually own both... And i can only say that they're both user-friendly.

Both have a nice gui (trezor is actually having a beta phase for their wallet application instead of their wallet website), both can be used together with electrum.

The big differences (IMHO):

ledger requires an app for each coin to be installed on the device. A nano S has enough space to hold like 5-15 apps (some apps share code, so you can fit more of them on the limited space, other apps are really big, so there is no fixed number). Trezor works differently, no apps are installed on the device's memory, but some altcoins are a bit trickyer to "install" a wallet for. So, if you're going to be holding a limited amount of rare altcoins or tokens, a Nano S *might* be easyer to operate, if you're sticking to btc and a very few top-altcoins, a trezor might be better... but i'd look at this on a case-by-case scenario...

Ledger is closed source, trezor is open source. It's security-by-obscurity vs peer review...


So, it basically boils down to the price... If you're money-conteous, i'd pick the cheapest one, since i'd trust both of them to do the job... They both have some drawbacks, but nothing that should keep you awake at night

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September 30, 2020, 05:53:34 AM
 #4

It is not easy to select between Trezor and Ledger because both wallets have advantages and disadvantages. I don't want to tell you about the benefits. But I want you to think about the price. Usually, people don't care about the function because they already know the function of each wallet.

I want you to think about from both wallets, which one you will be okay with the price? Because sometimes, people will think twice if that is related to the price, and even if one product has more benefits, they will not choose because they don't accept the price.

We know that each wallet has good security, but that will depend on how we treat it. And I think you will treat the wallet as an important thing, and you will save it in a secret place.

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September 30, 2020, 11:18:12 AM
 #5

The first thing I would advise you is to wait for the offers for Black Friday, which is November 27 this year - and then the discounts can go up to 50%, which is a really great opportunity to buy. This discount applies to the Ledger Nano S (last year’s discount), and I bought the Nano X at a discounted price of 35% also last year.

mocacinno has explained quite well what the basic differences are between Ledger and Trezor, and the expression best in this case is a rather subjective matter to which there is actually no real answer. It's true that Ledger has had a few bad episodes recently, so it may be a reason for some to decide on something else - but I suggest you research all the advantages and disadvantages of both manufacturers before you buy.

I own the Nano S and X, and have no objections to both models - although the X is much easier to use due to the larger screen, for me personally it has much better buttons and much more internal memory so no worries about the number of apps installed at the same time. Of course, this does not mean that the Nano S is any worse in terms of security, on the contrary - Ledger supports both models equally, although the Nano S is limited in internal memory, so all future firmware takes up even more limited space, which is a problem for those who want to have multiple apps installed at the same time.

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September 30, 2020, 12:26:40 PM
 #6

I am a Ledger user myself. I have had my device for a few years and it works just fine. I have no objections and therefore no reasons to try something else. I never used Trezor so I cant make any comparisons between the two. I both my Nano with a 50% discount, and just like Lucius, if you can afford to wait a little longer you will surely find a better deal soon.

The limited internal storage of the Nano S can become bothersome if you are holding many different coins. But since I store only the assets that I believe are worth something on mine, I don't have issues with lack of space. The Ledger Live is not the best app, but you can always connect Ledger to Electrum and use its advanced features. Ledger Live can also be your portfolio app where you can get a quick glance of everything you hold.   

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September 30, 2020, 12:46:41 PM
 #7

I also have Ledger. I like the Nano S, it can quite easily mistake it for a normal USB stick. It was cheap and it does the job.
I use it with Electrum on PC and Mycelium on phone, I think that Ledger app is not useful for anything else than installing or updating apps or firmware.

Edit: It may worth adding that whichever you buy you should wait for Black Friday/Christmas offers.

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September 30, 2020, 03:05:02 PM
 #8

We're the same, I also eagerly want to have a hardware wallet but I'm scared of what I have heard that probably our order purchase might delay and someone said a significant number of shipment had lost due to ongoing pandemic covid-19 which is all shipments are unpredicted where it arrives or probably it may be lost through this post when someone posted Ledger promo code. Unfortunately, Ledger Nano back to school promo has been ended on Ledger nano and I canceled my order last month because of what I have heard regarding the issue of the shipment. Probably if you really want Ledger Nano, just wait for the Black Friday event, but there is no fixed date yet.

I have short researched before since last month regarding these two hardware wallets. My bet is Ledger Nano because it easy to use and has more supported crypto assets compared to Trezor, but as what I have read on the Exodus blog comparing the two hardware wallets, they'd choose Trezor as a good hardware wallet. You can do your own research too.

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September 30, 2020, 03:11:24 PM
 #9

@sheenshane
Even if your shipment was to be delayed, it doesn't really matter that much, does it? You are already managing without a hardware wallet, and doing so for a few weeks longer shouldn't impact you. if it gets lost, you will get your money back or a new one sent. 

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September 30, 2020, 03:59:49 PM
 #10

I also have Ledger. I like the Nano S, it can quite easily mistake it for a normal USB stick. It was cheap and it does the job.
I have the same, Nano S. No problems and until now it's good as new and it's easy for newbies to use it including the Ledger live app.

I think that Ledger app is not useful for anything else than installing or updating apps or firmware.
I use Ledger Live most of the time. It became my portfolio tracker and yeah those updates are very usual and they keep a log for those updates which has been added and removed, feature or a coin.

@Littlemouse, choose wisely where you buy hardware wallet to avoid this: Man's Life Savings Stolen from Hardware Wallet Supplied by a Reseller

Always choose to buy to the authorized retailers/resellers and you're the one that will switch-on and generate the random seed from that wallet.

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September 30, 2020, 04:23:30 PM
 #11

Due to crypto being illegal in my country
I'm curious as to just how illegal crypto is in your country, i.e., can you get jail time just for owning bitcoin (or altcoins)?  You've got some balls on you if you're that passionate about crypto that you're willing to shop for a HW wallet despite crypto being prohibited where you are.

I've had experience with only three HW wallets, the Ledger Nano S and X and the Keepkey.  If you're in the market for a HW wallet, my suggestion to you would be to not mess around with any of the lesser-known ones that you might see on Amazon.  I'd also stay away from the Keepkey, too. 

The only two reputable brands that I know of are Trezor and Ledger, and IMO you ought to choose one of those if you're going to break the law (which I don't condone).  From everything I've heard, the Trezor is just fine, but I don't care for its appearance, and I like the very small size of the Ledger devices--plus I've had no problems with either model so far.  Best of luck in your shopping, and I hope your government changes its attitude.

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September 30, 2020, 09:08:46 PM
 #12

I'm curious as to just how illegal crypto is in your country, i.e., can you get jail time just for owning bitcoin (or altcoins)? 
From what I can see, Little Mouse is from Bangladesh. This article is from 2018, but I guess it's still relevant.

It begins by stating that Bitcoin trading is illegal in Bangladesh and the Central Bank has warned local banks to be on the lookout for Bitcoin traders. Police are monitoring and "hunting" Bitcoin users. Even the government has issued warnings not to get involved with Bitcoin.

This part is particularly bad:
Quote
Assistant Deputy Commissioner of the Cyber Crime Unit Nazmul Islam said: “We have already located a few bitcoin users, and are on the hunt for more,


@Little Mouse
If you believe those mentally handicapped government personnel might know what Ledger or Trezor is, or make a connection to crypto or Bitcoin by looking at the package, don't risk it if the consequences are severe. 

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September 30, 2020, 10:33:08 PM
 #13

One option you have is to get some old smartphone and restart it and then install Electrum or some other wallet app on your mobile.
This is cheapest hardware-like device you can have.
If you want real hardware wallet, I would choose Ledger and also pair it with Electrum desktop wallet.

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October 01, 2020, 02:27:26 AM
Last edit: October 01, 2020, 02:41:29 AM by Little Mouse
 #14

So, it basically boils down to the price... If you're money-conteous, i'd pick the cheapest one, since i'd trust both of them to do the job... They both have some drawbacks, but nothing that should keep you awake at night
From your statement, it is clear that there's no problem whether I'm using Ledger or trezor. Then why would I go with the expensive one  Cheesy Ledger seems to be cheapest and I will purchase Ledger.

I'm curious as to just how illegal crypto is in your country, i.e., can you get jail time just for owning bitcoin (or altcoins)?  You've got some balls on you if you're that passionate about crypto that you're willing to shop for a HW wallet despite crypto being prohibited where you are.
As far as I know, one can be sentenced 10 years jail if they found doing crypto activities like trading, using crypto as payment method, mining etc. But I have never heard anyone to get jailed or getting arrested for such activities other than some crypto related fraud cases.

If you believe those mentally handicapped government personnel might know what Ledger or Trezor is, or make a connection to crypto or Bitcoin by looking at the package, don't risk it if the consequences are severe. 
I doubt they will know what these are, Ledger Nano looks like a pendrive  Cheesy and they would take it as pendrive I think. Anyway, I will not take the risk. Will look for different way. May be shipping in countries where crypto is legal (through relatives) and then ask them to bring when they will visit Bangladesh.

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