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Author Topic: What is the best hardware wallet for holding Bitcoin only?  (Read 269 times)
Pmalek
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September 11, 2021, 07:30:04 AM
Merited by Charles-Tim (1)
 #21

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)
They handled it terribly. They tried to play it down and didn't know what to do. They failed their customers because they couldn't protect their data.

But Trezor isn't innocent either. All hardware wallets have flaws. Trezor wallets have a seed extraction vulnerability that can't be fixed. It's a design flaw. It can only be mitigated with a strong passphrase or saving a code on a SD card. When those vulnerabilities became known, Trezor didn't to the right thing either. The right thing would have been to admit the design flaw, instruct their users to add an additional layer of security (passphrase), and explain the issues of the seed extraction problem in their instructions manual that comes with their devices.

All companies in all spheres of life are interested in protecting their business first and foremost. Trezor and Ledger are no different. Even if it means taking a piss at their customers. It's time people understand that.

Despite the way Ledger handled privacy concerns, the security of their wallets isn't affected. The privacy of their users is.
And despite Trezor's design flaw, they remain one of the best wallets in this niche. Both are still recommended purchases, although I would personally go for the Nano S over the Nano X for several reasons. dkbit98 mentioned the battery problems, so there is one.

If I personally had to select between a Ledger and Trezor right now, knowing everything I know today, I would pick the Trezor T. Hopefully with a discount code.   

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n0nce
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September 11, 2021, 09:47:47 AM
 #22

If I personally had to select between a Ledger and Trezor right now, knowing everything I know today, I would pick the Trezor T. Hopefully with a discount code.   
I would take the Trezor T if I had to choose from those 2 brands as well; but if I can choose others, I'd have a look in Secure Element in Hardware Wallets and find good alternative options that have been around for a while as well, pen tested, with open source design and secure element.

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September 11, 2021, 10:28:59 AM
 #23

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...)
Problem with Satochip is that you need to buy additional device for reading and using Satochip, so the price is more than 25 euros, and I doubt many people have devices for reading smartcards at their home.
Card reader is more expensive than than card wallet itself, so we can see that total package at your website is 80 euros.

but I wouldn't recommend any Ledger products anymore especially after we saw how they handle customer data. (link, link 2)
And after recent battery issues or should I say fiasco they are facing with their nano x device, I would strongly advice everyone not to waste money on this device, and not to participate in ledger faulty lottery.
If you don't trust me, check out ledger reddit page, people are posting daily complains even after receiving replacement device, and mods are constantly downvoting and deleting posts.

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September 11, 2021, 10:33:19 AM
 #24

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...)
Problem with Satochip is that you need to buy additional device for reading and using Satochip, so the price is more than 25 euros, and I doubt many people have devices for reading smartcards at their home.
Card reader is more expensive than than card wallet itself, so we can see that total package at your website is 80 euros.
I have to say, everyone has their own definition of best for holding Bitcoin only since everyone has different preferences and priorities, but I am pretty confident as well that Satochip is objectively not the 'best for holding Bitcoin only'. The fact it runs multi-coin firmware alone disqualifies it for just holding Bitcoin in my opinion. Tibu was probably just trying to sell his product, knowing it wasn't the best product for OP's use case.

but I wouldn't recommend any Ledger products anymore especially after we saw how they handle customer data. (link, link 2)
And after recent battery issues or should I say fiasco they are facing with their nano x device, I would strongly advice everyone not to waste money on this device.
If you don't trust me, check out ledger reddit page, people are posting daily complain even after receiving replacement device.
I know - terrible handling of user data, terrible QC and I'm surprised these things have apparently no tamper protection. From what I gathered from other devices (though not tried), once you open them, they show you a warning LED or something. Instead, here people were able to re-plug the battery on their own. Also very questionable.

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September 22, 2021, 02:01:20 PM
 #25

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/

Exactly the two best are Trezor and Coldcard for sure. I am not a big fan of Ledger personally, especially after the data breach.

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