excro (OP)
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September 09, 2021, 11:32:13 PM |
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Hello all, I am very tempted in buying a hardware wallet to hold Bitcoin only, but I am unsure which hardware wallet is the most secure and easy to use. I am unable to find detailed reviews of every wallet, can people with hardware wallets let me know about their experience with their wallet? Regards, excro
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Charles-Tim
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September 09, 2021, 11:48:18 PM |
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You can check some hardware wallets using the two links below [BIG LIST] Hardware wallets (80+)Open Source Hardware WalletsI will suggest you to use Trezor, it is open source, also some experienced people recommended Ledger Nano but not completely open source but only its secure element is close source.
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Dave1
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September 09, 2021, 11:55:52 PM |
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Yes, this is the best hardware wallets out there, Trezor and Ledger Nano. Although Ledger had already a history of data leak last year. And just to add though, if you are planning to buy one, just go directly to the website itself and don't buy from anyone, or maybe from authorized reseller only. If you found some selling at a cheap price, don't, probably those hardware wallets might have been rigged or tampered.
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bitmover
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September 10, 2021, 12:03:21 AM Merited by Charles-Tim (1) |
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Additionally to what others said about trezor and ledger, I want to add that you can use electrum with any of them.
Electrum is the best wallet software around for a bitcoin only wallet.
Both wallets are fully compatible with electrum, with allows you to sign messages, select inputs, multiple output and many other advanced features which you will need over time.
You can get any of both, they are both great devices.
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mk4
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September 10, 2021, 03:12:55 AM |
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The Coldcard[1] wallet is probably the hardware wallet with the highest reputation among the hardcore bitcoiners. The UX can be really tough though, depending on how knowledgeable you are. It's pretty much just for a select demographic so my common recommendations are still Ledger/Trezor.
[1] https://coldcardwallet.com/
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uneps
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September 10, 2021, 04:11:45 AM |
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The Coldcard[1] wallet is probably the hardware wallet with the highest reputation among the hardcore bitcoiners. The UX can be really tough though, depending on how knowledgeable you are. It's pretty much just for a select demographic so my common recommendations are still Ledger/Trezor.
[1] https://coldcardwallet.com/I don't understand the swallow hardware yet. Can you share a little knowledge about the hardware wallet that you recommend. Can you share a little knowledge with me about Ledger/Trezo. Like how the Ledger/Trezo wallet works and is secure. I want to save the little btc I have. Is it safe if I save for the next few years.
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mk4
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September 10, 2021, 05:33:24 AM Last edit: September 10, 2021, 05:48:36 AM by mk4 |
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I don't understand the swallow hardware yet. Can you share a little knowledge about the hardware wallet that you recommend. Can you share a little knowledge with me about Ledger/Trezo. Like how the Ledger/Trezo wallet works and is secure. I want to save the little btc I have. Is it safe if I save for the next few years.
There are so much information about hardware wallets(or wallets in general) on the web that you're better off doing research. https://bitcointalk.org/index.php?topic=1631151.0https://cryptosec.info/wallets
EDIT: uhh.. should you know about hardware wallets by now? 🧐
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KevinRosa
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September 10, 2021, 06:06:44 AM |
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I don't understand the swallow hardware yet. Can you share a little knowledge about the hardware wallet that you recommend. Can you share a little knowledge with me about Ledger/Trezo. Like how the Ledger/Trezo wallet works and is secure. I want to save the little btc I have. Is it safe if I save for the next few years.
There are so much information about hardware wallets(or wallets in general) on the web that you're better off doing research. https://bitcointalk.org/index.php?topic=1631151.0https://cryptosec.info/wallets
EDIT: uhh.. should you know about hardware wallets by now? 🧐 This is an old member who doesn't know the hardware wallet. Don't be surprised, many people don't know.
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Lucius
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September 10, 2021, 09:29:57 AM |
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Hello all, I am very tempted in buying a hardware wallet to hold Bitcoin only...
If you want something with a reputation that is exclusively for Bitcoin, then you don't need to look beyond Trezor that offers just that - Bitcoin-only firmware. This way you will surely avoid all possible attack vectors that could appear through some altcoins apps or in any other way through multi-coins firmware. Very important - Trezor has vulnerabilities that allow the attacker who gains physical access to the device to extract the seed, so it is desirable to add a passphrase to prevent this. Bitcoin-only firmware has been specifically designed to only cointain code enabling the Bitcoin wallet operations. No additional features or coins can be used while this firmware is loaded on a Trezor device.
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dkbit98
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September 10, 2021, 10:08:10 AM |
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Hello all, I am very tempted in buying a hardware wallet to hold Bitcoin only, but I am unsure which hardware wallet is the most secure and easy to use. I am unable to find detailed reviews of every wallet, can people with hardware wallets let me know about their experience with their wallet?
I won't recommend any specific hardware wallet model, and you should know that there is no perfect device for holding your keys. Ideal hardware wallet should be open source with secure element for protecting keys, it should be airgapped device without connection with computer or internet, it should be compatible with other software wallets, it should fully support multisig setup. There is active Hardware Wallet section in this forum and you can check my List of Open Source Hardware Wallets and Hardware Wallets with Secure Elements. Note: Don't waste your money buying ledger nano X now because they have many issues with their battery now.
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NeuroticFish
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September 10, 2021, 10:18:42 AM |
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I am very tempted in buying a hardware wallet to hold Bitcoin only
For only holding even a paper wallet would do, as long as it's generated safely. This being said, you will basically run the HW only once, to generate one seed and get one of the associated addresses (to deposit and see on block explorer). (At least in theory) the current vulnerabilities don't even matter, since in some more years you may just get a better HW and recover from the seed you've saved/written down from "this" HW. Conclusion: I'd just go for the cheapest that works with Electrum. uhh.. should you know about hardware wallets by now? 🧐 He/she may have been living in own bubble. Less than 600 posts, of which most in Indonesian and Altcoin Bounties. I wouldn't be that surprised.
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The Sceptical Chymist
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September 10, 2021, 11:36:48 AM |
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For only holding even a paper wallet would do, as long as it's generated safely.
That's what I was going to recommend--why waste money on a HW wallet just to store bitcoin? Assuming you're going to keep it long-term, it would be so much cheaper and probably more convenient to transfer your bitcoin to an Electrum wallet, write down or stamp the seed phrase into a piece of metal and keep it in a safe place. You'd have to basically do the same thing with a HW wallet anyway, right? Yeah, and if he wasn't ever interested in HW wallets before, it's entirely plausible that he's not that familiar with them.
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Lucius
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September 10, 2021, 12:46:03 PM |
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That's what I was going to recommend--why waste money on a HW wallet just to store bitcoin?
Money invested in security has never been wasted, especially when it comes to crypto security. One of the most important features of HW is that the seed is generated in a completely secure offline environment, while in the case of any desktop/mobile wallet the seed can very easily be compromised if the computer or mobile device is infected. There is also the potential risk of fake wallets which should also not be ignored. Considering all of this, I wouldn’t agree that $50 or less is an investment that can be called wasted.
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mk4
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September 10, 2021, 01:24:10 PM |
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That's what I was going to recommend--why waste money on a HW wallet just to store bitcoin? Assuming you're going to keep it long-term, it would be so much cheaper and probably more convenient to transfer your bitcoin to an Electrum wallet, write down or stamp the seed phrase into a piece of metal and keep it in a safe place. You'd have to basically do the same thing with a HW wallet anyway, right?
This could be a great idea, assuming that the user actually knows how to generate a wallet safely in an air-gapped manner(which is like a very small minority of bitcoiners). But since OP is asking which hardware wallet to use, what are the chances? Just paying the $70 for a reputable hardware wallet is the way to go in 99.9% of cases.
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witcher_sense
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September 10, 2021, 01:44:41 PM |
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That's what I was going to recommend--why waste money on a HW wallet just to store bitcoin? Assuming you're going to keep it long-term, it would be so much cheaper and probably more convenient to transfer your bitcoin to an Electrum wallet, write down or stamp the seed phrase into a piece of metal and keep it in a safe place. You'd have to basically do the same thing with a HW wallet anyway, right?
On the one hand, one doesn't need a special device for key management if the main goal was holding bitcoin long-term until it becomes something more than a speculative asset, perhaps widely adopted legal tender. On the other hand, a hardware wallet can be very useful if there is a need for periodic transfers. Especially, it is very important when it comes to newbies. One of the reasons why I consider this type of wallet newbie-friendly is that it allows to safely operate on a system full of trojans, keyloggers, etc. Secret keys never leave a device, which means they cannot be intercepted or stolen by a malicious attacker. The second reason is that a hardware wallet is a good source of entropy, which means it can be utilized as a tool for generating truly random wallets offline. The third reason is when one invests in something like a hardware wallet, one inevitably goes through some educational information regarding recommendations on how to interact with cryptocurrencies properly. In other words, before you start to use something you have never dealt with, you usually read the manual. I believe it might help a bit to not mess things up.
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n0nce
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September 10, 2021, 01:57:40 PM |
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Only two hardware wallets are well-known secured but you have many choices. Check Ledger nano and Trezor
I don't agree with this. They are amongst the oldest hardware wallet companies that I know and thus get kind of a 'tried & tested' status, but I wouldn't recommend any Ledger products anymore especially after we saw how they handle customer data. ( link, link 2) I think Trezor model T with Bitcoin-only firmware can be a good option. BitBox02 Bitcoin edition has been around for a while now and shares the secure chip of the ColdCard. BitBox and ColdCard are open source, which is quite important for me, so maybe check these threads: Open Source Hardware WalletsColdCard hardware walletThoughts about Passport hardware walletI'm not a fan how ColdCard handle the 'open source' after Foundation Devices actually wanted to use the code (in compliance with license) and that's a turnoff from ColdCard for me. But all of the wallets I mentioned are great options I think, just read threads here about them and decide for yourself. Cobo Vault would be a cool option due to airgap via camera, but it's multicoin, which poses a much larger attack surface than a Bitcoin-only wallet. Things to consider: * trust model / attacker models considered * open / closed source hardware and software * USB or airgapped operation (would heavily adwise against wireless tech) * Airgap via SD card or camera (latter is more practical)
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Tibu
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September 10, 2021, 02:08:31 PM |
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Hello, How about a Satochip hardware wallet ? It's based on a smartcard. It's fully open source, low form factor, easy to use. Compatible with the well known Electrum client (and many more...)
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n0nce
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September 10, 2021, 03:51:23 PM |
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Hello, How about a Satochip hardware wallet ? It's based on a smartcard. It's fully open source, low form factor, easy to use. Compatible with the well known Electrum client (and many more...)
From your image alone I can see it has USB, NFC and supports tons of coins, already 3 potential security issues if OP wants to hold only BTC as long term investment. Have to look deeper into it but this is what I can say so far. I’d urge anyone to be especially wary of wireless technologies in general. I research in this field myself and it’s like, bugs and exploits everywhere. It’s really not fun and especially not good to have on a device storing your wealth.
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mk4
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September 11, 2021, 04:14:58 AM |
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Hello, How about a Satochip hardware wallet ? It's based on a smartcard. It's fully open source, low form factor, easy to use. Compatible with the well known Electrum client (and many more...) That hardware wallet is quite unheard of. And since it's not that well known, we can make the assumption that people haven't made that much audits concerning the code. Why not go for the hardware wallets that's being followed by thousands of developers worldwide? Not that the "Satochip" hardware wallet is bad, but it's totally up to you if you want to risk it.
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