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Author Topic: Best cold wallet for BTC storage?  (Read 404 times)
n0nce
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October 07, 2022, 12:36:02 AM
 #21

First of all, you can do cold storage in one of two ways.

[1] Fully analog key storage, no digital signer. This means you generated a wallet and addresses on an airgapped, offline PC using https://tails.boum.org/, and store the seed phrase on paper and / or metal. This method doesn't allow you to spend the funds easily, but it's very secure.
[2] Hardware wallet; easier to set up, easy to back up to paper and / or steel, but also allow you to spend funds without too much hassle and with relatively low risk of attacks / small attack surface.

If you want one of the latter, your question would fit better in Hardware Wallets, and it's also not the first time it was asked.
Here's a search query to check out: https://ninjastic.space/search?board=261&title=best%2Bhardware%2Bwallet

I'm repeating myself, but in my opinion, the minimum requirements are:
First criterion would be Bitcoin-only (at very least the option to get a Bitcoin-only firmware); that already eliminates a lot of hardware wallets.
My list after that criterion would be:
  • Foundation Passport
  • Trezor Model One & Model T
  • Keystone Pro
  • BitBox02 Bitcoin-only
  • Coinkite ColdCard

Then, Bitcoin for me is synonymous with open-source and verifiability - hardware and software. This removes a few again, leaving us with the following (to the best of my knowledge).
  • Foundation Passport
  • Trezor Model One & Model T
  • BitBox02 Bitcoin-only

My favourite so far, is the Passport.

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lixer
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October 08, 2022, 12:34:41 PM
 #22

Hi, I'm kinda new to this whole Bitcoin thing, but I heard it was big and wanted in, so I signed up for Coinbase and bought about $1500 worth.
Then I was reading up and read that I shouldn't store my coins on exchanges because if they're hacked you could lose everything.
I heard that hardware wallets are the way to prevent that... but what would be the best one?
All I really need is for it to be functional and have Bitcoin support.
I heard that Trezor or Ledger hardware wallets are pretty good... but what do you guys think?
You sound like a typical newbie who quickly get in after hearing that btc can make them a millionaire but anyway coinbase has a lot of users so their security is kinda robust and maybe they offer some kind of refund in case problem can occur and users lost their funds but what you are planning there is also great.

It's always better to be safe than sorry. Not only hacks can happen but coinbase itself can restrict their costumer from using their funds just like a bank so it's better if we transfer the coins to the wallet that we fully control. It doesn't really need to be a hardware wallet but there are online wallets too like electrum which you can use for free.

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October 19, 2022, 02:57:21 PM
Merited by dkbit98 (1)
 #23

I heard that hardware wallets are the way to prevent that... but what would be the best one?

Best depends on your needs (usability, safety, number of different altcoins you want it for along with bitcoin). It's hard to tell which is "best".

I heard that Trezor or Ledger hardware wallets are pretty good... but what do you guys think?

Yes, they're are the most used ones because they have an older history and reasonable prices.
However, Trezor doesn't have secure element chip and Ledger has a recent history of fuckups, from getting customer info (incl. addresses) stolen to faulty parts.

Plus, for Ledger and Trezor (and others too) the communication with the companion software wallet is done via cable (arguably no longer air gapped) or Bluetooth (arguably not that secure).
If this is a problem for you, you may also read about SeedSigner, which uses images for communicating with the software wallet, but keep in mind that this is basically a Raspberry Pi with custom software, hence no secure element and the name is not Hardware Wallet, instead it's an air gapped signing device. Bitcoin only.

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m2017
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October 19, 2022, 03:39:38 PM
 #24

I heard that hardware wallets are the way to prevent that... but what would be the best one?

Best depends on your needs (usability, safety, number of different altcoins you want it for along with bitcoin). It's hard to tell which is "best".
This is exactly the case, that each crypto-user has his own needs and it is impossible to say which of the proposed options OP needs. This can only be determined by him, personally for himself, but as is usually the case with beginners, he doesn't have sufficient knowledge and experience. Therefore, beginners want to hear and expect a ready-made solution from others, for which such topics are created. Of course, experienced people share their advice and recommendations, but beginners should do the main work themselves: by analyzing their needs and choosing the right crypto wallet after evaluating offers on the market. Most people are too lazy to do this and they want an easy ready-made answer.

I heard that Trezor or Ledger hardware wallets are pretty good... but what do you guys think?

Yes, they're are the most used ones because they have an older history and reasonable prices.
However, Trezor doesn't have secure element chip and Ledger has a recent history of fuckups, from getting customer info (incl. addresses) stolen to faulty parts.

Plus, for Ledger and Trezor (and others too) the communication with the companion software wallet is done via cable (arguably no longer air gapped) or Bluetooth (arguably not that secure).
If this is a problem for you, you may also read about SeedSigner, which uses images for communicating with the software wallet, but keep in mind that this is basically a Raspberry Pi with custom software, hence no secure element and the name is not Hardware Wallet, instead it's an air gapped signing device. Bitcoin only.
When it comes to hardware wallets, these 2 brands are always remembered first of all: old and well-known, which are on everyone’s lips and their names have become household names, personifying hardware wallets. Of course, you can experiment with new devices, but which of the newcomers is ready to take risks? Among new hardware manufacturers there may be interesting and good solutions, newcomers will still prefer proven brands. New items are the lot of crypto-enthusiasts and technically capable people. Mostly.

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