Choose Your Best Hardware Wallet and Why

[Aanuoluwatofunmi]

Choose Your Best Hardware wallet


https://twitter.com/TheBTCTherapist/status/1759714058108817793?t=pFCfTjKyPHHa_hbvhuXirw&s=19



One of the safest mean to engage the use of cod storage is in use of hardware wallet, they are of different categories and types, but just as the title says, suggest your best hardware wallet and in addition to that, I will recommend that we also suggest the worst to use among the list with reasons for each selection we made.

My Selection.

1. Best Hardware Wallet Trezor, it helps in generating your private keys offline and build a resistance against any attempt against your privacy and other forms of attacks.

2. Worst Hardware Wallet Ledger, they have breached privacy and security for the use of their wallet.

Other helpful threads on Hardware Wallet

Hardware wallets
https://en.bitcoin.it/wiki/Hardware_wallet

Open Source Hardware Wallets
https://bitcointalk.org/index.php?topic=5288971.0

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[tranthidung]

2. Worst Hardware Wallet Ledger, they have breached privacy and security for the use of their wallet.

They are close source, have data breaches but I am not sure that Ledger is a worst hardware wallet.

Obviously, you should choose an open source hardware wallet to use. It is good if it has good record in privacy and security.

Ledger, months ago in 2023, launched their new product, Ledger Recovery Service, that breaks fundamentals of hardware wallet. They split mnemonic seed to three parts that are stored by three different entities and it means you are not the only entity to own seed words.

Read this thread if you want to know and understand more about that bad service.
Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities.

[KiaKia]

Trezor hardware wallet is fully open- source and Ledger is also a fully closed source, this is why Trezor is better than Ledger, but Ledger isn't responsible for the loss of funds from their users in the past year.

If the case of Ledger was software update that was available on their official website and people start to update their hardware wallet and money aka assets start missing it's another thing.

Those who lost assets fell for a different scheme, like downloading of software update from somewhere else, e.g fake email that's been sent to them pretending to be from Ledger Company itself.

Fake giveaways from scammers requesting users to import their Ledger seed to claim the giveaways, how is this Ledger's fault? It's on the people not Ledger and till today people are still using Ledger, the only reason why I won't use is because it's Closed - Source.

Open source hardware wallet are better, more transparent and to me, more reliable.

[ABCbits]

2. Worst Hardware Wallet Ledger, they have breached privacy and security for the use of their wallet.

They are close source, have data breaches but I am not sure that Ledger is a worst hardware wallet.

And known to lying that private key can't be extracted from their device[1]. But i agree it's not the worst when BitFi exist where it got hacked many times even though it claims to be "unhackable"[2].

[1] https://www.coindesk.com/tech/2023/05/16/ledger-bats-back-criticism-of-new-wallet-recovery-service/
[2] https://www.tomshardware.com/news/mcafee-bitfi-cryptocurrency-wallet-hacked,37736.html

[pakhitheboss]

I don't like Ledger as they had too many data breaches in the past. I am aware that both the hardware and software of Trezoe are open source. I still don't understand why people go for Ledger than Trezor. If you do a Google search then you will find many websites recommending Ledger over Trezor. In the past, I have seen many members in the forum recommending the ledger. For external websites, I can understand they are using affiliate marketing. I don't understand the reason why earlier everyone here recommended the ledger. It is better to either use a Trezor wallet or an air-gap wallet. Another thing having cold storage doesn't mean that assets are safe it is the primary responsibility of the owner of the wallets to follow safety protocols.

[icalical]

I used to own Ledger Nano, and then stop using it after I sell most of my Bitcoin on the 2021 bull market. I currently just using electrum because I don't hold much of Bitcoin. I plan to move back to Ledger wallet when I saw some bullish earlier this year, but after reading many problems reported on Reddit because of a software wallet, I don't think it's worth the risk. Most of them say that they lost their fund or even lost their wallet entirely. Believe me, Ledger used to be fine, but I don't know what happened recently, they are degrading.

All that being said, saying Ledger is the worst hardware wallet is kind a exaggerating, there are some weird gimmicky, one that I know is from this thread https://bitcointalk.org/index.php?topic=5471397.0 an NFC non-seed-phrase wallet, or a 24k gold plated Bitcoin card hardware wallet $100 for a cold storage with very limited feature https://store.ballet.com/products/ballet-wallet?variant=43291273199779.

 

[Rustam Meraj]

I don't like Ledger as they had too many data breaches in the past. I am aware that both the hardware and software of Trezoe are open source. I still don't understand why people go for Ledger than Trezor. If you do a Google search then you will find many websites recommending Ledger over Trezor. In the past, I have seen many members in the forum recommending the ledger. For external websites, I can understand they are using affiliate marketing. I don't understand the reason why earlier everyone here recommended the ledger. It is better to either use a Trezor wallet or an air-gap wallet. Another thing having cold storage doesn't mean that assets are safe it is the primary responsibility of the owner of the wallets to follow safety protocols.

It's smart to be careful about using Ledger because they had problems with keeping data safe before. But before you decide which hardware wallet to use think about everything. Just because Trezor is open source doesn't mean it's the best choice for everyone. Some people might like Ledger more because of how easy it is to use the help they give customers or extra features that matter to them. It's important to look into things carefully and think about all sides before picking a hardware wallet.

[tranthidung]

2. Worst Hardware Wallet Ledger, they have breached privacy and security for the use of their wallet.

They are close source, have data breaches but I am not sure that Ledger is a worst hardware wallet.

And known to lying that private key can't be extracted from their device[1]. But i agree it's not the worst when BitFi exist where it got hacked many times even though it claims to be "unhackable"[2].

[1] https://www.coindesk.com/tech/2023/05/16/ledger-bats-back-criticism-of-new-wallet-recovery-service/
[2] https://www.tomshardware.com/news/mcafee-bitfi-cryptocurrency-wallet-hacked,37736.html

I agree.

Ledger is bad with their past bad record but to say they are the worst, I disagree.

We tend to exaggerate things to satisfy our thinking and do like saying too good or too bad about a thing we like or dislike. However the fact is somewhere in between good and too good or bad and too bad.

[Lucius]

~snip~
Ledger, months ago in 2023, launched their new product, Ledger Recovery Service, that breaks fundamentals of hardware wallet. They split mnemonic seed to three parts that are stored by three different entities and it means you are not the only entity to own seed words.

It should be said that it is only an option, which is also paid on a monthly basis. However, what is worrying is that such a feature has become a reality at all, considering that everyone bought their HW for the reason that they would be the only ones who would own their backup.

However, we should be honest and say that Trezor HW have an unfixable vulnerability that allows someone who comes into physical possession of the device to extract the seed. Of course, there is protection in the form of using a passphrase or SD card, but the question is how many users are even aware that the problem exists.

For those who are looking for security when it comes to hardware wallets, I suggest you take a look -> Foundation Passport Official Thread

[dkbit98]

One of the safest mean to engage the use of cod storage is in use of hardware wallet, they are of different categories and types, but just as the title says, suggest your best hardware wallet and in addition to that, I will recommend that we also suggest the worst to use among the list with reasons for each selection we made.

Safest hardware wallets are airgapped and they are not connected to other devices in any way.
They should be open source with reproducible code, and there are only a few wallets like this, Passport, Keystone and some diy signing devices like Seedisgner and Krux.
Trezor Safe 3 is not a bad choice, but it's not airgapped and I wouldn't say they are the best option at the moment.

[tabas]

I have used Ledger for several years and it was my first ever hardware wallet not until they've introduced the Ledger Recover which was a terrible feature that they have. Can you imagine that a third party service is going to keep our private keys? Heck no, I don't want to use that service and I'll be the one to keep it. That's why I am acquiring my next hardware wallet and that's the Trezor HW, I'm still thinking on what version I am going to get but I might stick to the 3 version. I guess this is the era where Trezor is going to dominate their own market thanks to the wrong decisions and upgrades of Ledger.

[Porfirii]

I have used Ledger for several years and it was my first ever hardware wallet not until they've introduced the Ledger Recover which was a terrible feature that they have. Can you imagine that a third party service is going to keep our private keys? Heck no, I don't want to use that service and I'll be the one to keep it. That's why I am acquiring my next hardware wallet and that's the Trezor HW, I'm still thinking on what version I am going to get but I might stick to the 3 version. I guess this is the era where Trezor is going to dominate their own market thanks to the wrong decisions and upgrades of Ledger.

About 1 (Ledger), you can keep using your ledger device without this new feature you mention. I don't think many of us like this Ledger Recover option (what the hell where they thinking when they decided...). So, as long as they don't make it mandatory, I'll stick to my Ledger, but yes, better stay vigilant just in case.


About 8 (Other), I think that another option is this forum based "Project Icarus". More similar to a cold wallet, although not exactly.

[hugeblack]

My Selection.

1. Best Hardware Wallet Trezor, it helps in generating your private keys offline and build a resistance against any attempt against your privacy and other forms of attacks.

2. Worst Hardware Wallet Ledger, they have breached privacy and security for the use of their wallet.

I respect your opinion, but Ledger is the worst hardware wallet that is famous or has many use cases, but it is not the worst hardware wallet. There are many wallets that are closed source, few reviews,  few downloads, and funding, which will inevitably be worse than Ledger.
As for the best wallet, it is definitely not Trezor. The market has developed a lot and there has become a competition between wallets for secure elements and protecting seeds from physical attacks. Therefore, the term best wallet is based on the options available versus the expected attacks and the price.

[Z390]

Ledger recovery feature ruined the wallet for many people, I have some family member living in the foreign countries complaining about this same recovery idea, it pissed them off and they went for Trezor, I introduced Keystone3 pro to one of them and they already ordered for one, any hardware wallet that's open source and also airgapped are the best in my opinion.

Many Ledger users that know what they are doing are abandoning the hardware wallet for another, it's also a closed source wallet which is why I wouldn't go for such wallet in the first place, I also know someone who purchased Ledger without doing some research and after he speak about the new Ledger I informed him to do some research first before entrusting his Bitcoin to Ledger hardware wallet, later he changed his mind.

I guess so many people are still taking decisions in crypto space without doing their own research first, like how this person did, he though a hardware wallet is a hardware wallet.

[tabas]

I have used Ledger for several years and it was my first ever hardware wallet not until they've introduced the Ledger Recover which was a terrible feature that they have. Can you imagine that a third party service is going to keep our private keys? Heck no, I don't want to use that service and I'll be the one to keep it. That's why I am acquiring my next hardware wallet and that's the Trezor HW, I'm still thinking on what version I am going to get but I might stick to the 3 version. I guess this is the era where Trezor is going to dominate their own market thanks to the wrong decisions and upgrades of Ledger.

About 1 (Ledger), you can keep using your ledger device without this new feature you mention. I don't think many of us like this Ledger Recover option (what the hell where they thinking when they decided...). So, as long as they don't make it mandatory, I'll stick to my Ledger, but yes, better stay vigilant just in case.

Yes, I can still use it. It's the nano ledger S and that's the oldest IIRC. Even if the recover is just optional, we don't know what they may enforce in the future with the owners of these HWs of theirs. That's why at this point, I am just trying to get some contingency plans if things don't go properly. While we're disappointed with their actions, how much more in the future when they totally force it to everyone, to whether older or newer versions of ledger hardware wallets.

[sokani]

I don't think ledger is the worst hardware wallet and I understand why it's on your list. Ledger used to be one of the famous in the industry and was even competing with Trezor before it started screwing up and lost it place among the top hardware devices. I think Ryder one is the worst and weirdest hardware wallet because it doesn't have a seed phrase and it's closed source.

As for the best hardware wallet, I'd choose Trezor hardware wallet.

[Peanutswar]

During the NFT era and play to earn, trezor wallet is the one who supports the use of the axie so to make sure and secure my asset too I bought this one, only the trezor one because for me that time having a trezor model T because that's the next ideally good for storing asset, after that I'm planning to buy another hardware wallet which is ledger but due to problems releases that time i doubt to buy this, currently I'm wondering what wallet should i bought next even though hardware wallet i have i want to have another make sure that I can separate my active wallet and sleeping wallet.

[m2017]

I don't think ledger is the worst hardware wallet and I understand why it's on your list. Ledger used to be one of the famous in the industry and was even competing with Trezor before it started screwing up and lost it place among the top hardware devices.

Well, why, Ledger is not so bad at all. If we ignore the frequent various physical breakdowns of their devices ( Ledger Nano X Circus (Battery, Recover and more)), compromise of libraries ( Ledger library possibly compromised), paid services with sharing of private keys ( Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities), then these are simply wonderful devices with a huge user base (that's not all they screwed up).

Technically speaking, these devices provide a high level of reliability and safety (for now). In general, evaluating the ledger's hardware wallet, abstracting from the company’s accompanying services and negative events, we can say that it’s a good device; no one has yet managed to hack or extract the seed-phrase (of course, unless the ledger does it itself, giving everyone a big surprise in the future ).

I think Ryder one is the worst and weirdest hardware wallet because it doesn't have a seed phrase and it's closed source.

I don’t know which hardware wallet is the worst and I don’t want to know. As for any crypto user, only the best HW devices are important. The best in terms of price-quality ratio (reliability and safety).

As for the best hardware wallet, I'd choose Trezor hardware wallet.

I am sure that there will be those who will name other (their) devices as the best hardware wallets, but the Trezor's HWs undoubtedly (still) remains at least one of the best.

[Aanuoluwatofunmi]

Trezor hardware wallet is fully open- source and Ledger is also a fully closed source, this is why Trezor is better than Ledger, but Ledger isn't responsible for the loss of funds from their users in the past year.

It is, maybe you should read on this, there's no privacy at all with the use of this ledger wallet, this is an incompetency on their reputation, this is peoples assts we are talking about, the same reason why these same people were able to afford buying a hardware wallet to have more privacy with the way they handle their wallet and the ledger team couldn't respect this fact and instead renders users vulnerable to third parties access.

Cryptocurrency wallet maker Ledger says someone slipped malicious code into one of its JavaScript libraries to steal more than half a million dollars from victims.

The library in question is Connect Kit, which allows DApps – decentralized software applications – to connect to and use people's Ledger hardware wallets. https://www.theregister.com/2023/12/16/ledger_crypto_conect_kit/#:~:text=Cryptocurrency%20wallet%20maker%20Ledger%20says,use%20people's%20Ledger%20hardware%20wallets.