Improving Security: From Ledger Nano S to Tangem and Trezor 3

[cp520]

Hi everyone,

I currently own a Ledger Nano S, and recently I also purchased a Tangem wallet. However, after reading some mixed feedback and wanting to improve my overall security, I’m considering adding a Trezor 3 to diversify my storage options.

What do you think about this setup?

Would it make sense to combine these different wallets for better safety, or is it overkill?

Thanks in advance for your insights!

[NeuroticFish]

I don't really know Tangem, but I do have a Trezor Safe 3 which have replaced my old Ledger Nano S for all I've needed.

Since you've already bought the Tangem, I recommend you start using it and see if it does all you need.
* They boast it creates a private key that doesn't leave the device. I recommend you try to set it up - if possible - in a way you can do a separate backup (eg on paper) of that private key. (And of course, keep that paper safe).
* I am unsure, but Tangem may not be HD wallet. If so, that's a minus if you plan to also spend coins, since (at least in theory) address reuse (same address uses to send and receive coins) is not as safe (and quantum proof) as getting new change address on every spend. Probably nothing to fear now, but still something to keep in mind.

After using it a little, you can make a decision if you need something more or something different. Meanwhile Black Friday may kick in with some promotions too

[rdluffy]

I don't really know Tangem, but I do have a Trezor Safe 3 which have replaced my old Ledger Nano S for all I've needed.

Same thing here, hehehe. I had a Ledger Nano S, and now I have a Trezor Safe 3

After using it a little, you can make a decision if you need something more or something different. Meanwhile Black Friday may kick in with some promotions too

That's a good tip. I also wait BF to buy the things I need. Trezor may have some good offers, but remember that right now they have the Model T for $64.50
https://trezor.io/trezor-model-t?srsltid=AfmBOooxBLHpYB5HT1mXJKIuUin6bYY1DAFLkmUlxEFv2wAH9cz3tOdF


OP, what is your goal and need?

Do you only have BTC or will you also use it for altcoins?
Do you use it constantly or do you make transactions from time to time?

In any case, if you really want to buy a new wallet, maybe the Model T is a good option too, since it's even cheaper than the Safe 3

[cp520]

Thanks for your replies

I don't really know Tangem, but I do have a Trezor Safe 3 which have replaced my old Ledger Nano S for all I've needed.

I got caught by Tangem’s marketing, lol, and their seedless solution, but the more I think about it, the more I see myself using Tangem as an everyday wallet. I might wait for Black Friday to get a Trezor.

OP, what is your goal and need?

Do you only have BTC or will you also use it for altcoins?
Do you use it constantly or do you make transactions from time to time?

Shame on me, I was using my Ledger for my transactions with various DAPPs, but now, for more security, I prefer to “greatly limit the risks.”
My goal is to secure my crypto (BTC and altcoins) in a cold wallet, ideally spread across several cold wallets. And to have an “everyday” wallet for DAPPs and transactions...

[SFR10]

the more I see myself using Tangem as an everyday wallet.

IMO, that's the best way to use a Tangem Wallet ^{[storing small amounts to satisfy your day-to-day expenses]}.

My goal is to secure my crypto (BTC and altcoins) in a cold wallet, ideally spread across several cold wallets.

The only reason I'd use multiple HWs is if I wanted to have a multisig setup ^{[AFAIK, Tangem doesn't support it]}. Last time I checked, Safe 3 had the least altcoin support among all Trezor models, so you should pay attention to the list of "supported coins & tokens".
^{- FWIW, Safe 3 "isn't that durable".}

[cp520]

The only reason I'd use multiple HWs is if I wanted to have a multisig setup ^{[AFAIK, Tangem doesn't support it]}. Last time I checked, Safe 3 had the least altcoin support among all Trezor models, so you should pay attention to the list of "supported coins & tokens".
^{- FWIW, Safe 3 "isn't that durable".}

I checked, and it supports the cryptos I need, but it will really just be a cold wallet. And as I was saying, the idea is to multiply and have wallets independent from each other. But the multisig idea isn’t bad .

[Meuserna]

I got caught by Tangem’s marketing, lol, and their seedless solution

I think "seedless" is reckless.

A seed is your backup.  Let's say your hardware wallet gets destroyed somehow.  No worries.  Buy a new one and enter your seed phrase to restore your wallet on the new device.

Many years ago, I had a hard drive failure.  It took me a long time to rescue my data.  Ever since then, I've had a backup hard drive that powers on in the middle of the night to back everything up.  And I have a Time Machine backup too.  It's just smart to have backups.

Your seed phrase is your Bitcoin wallet backup.

Remember: Your coins aren't in your wallet.  They're on the blockchain.  Your wallet is the collection of your addresses and keys (and other seed-generated data).  That's why a seed phrase is so important.  If anything goes wrong, no worries.  You can get it all back by using your seed phrase (and passphrase, if you use one).  That's why your seed phrase is so versatile.  If anything goes wrong, you don't even need to buy the same kind of wallet.  Any wallet that uses seed phrases will generate your exact same wallet.  It's such a brilliant system.

I see Tangem promoting seedless wallets, and I think they're insane.  That's like saying "Get where you're going faster in our brakeless cars!  Genius, right?"  YIKES!  OK, maybe it's not quite that bad, but still... I'd never use a wallet that isn't 100% open source and uses seed phrases.

If you're going to do self custody, your backups are the most important thing you'll have.

I know, I know...  Tangem does their own card-backup scheme.  There have already been cases where people lost their cards.  A seed phrase is a much better form of backup.

[dkbit98]

What do you think about this setup?

I would not use any ledger devices, they can literally block your transactions with their sanction compliance crap.
All their devices are closed source, most likely have a hidden backdoor, and ledger S is discontinued device.
I would not use Tangem wallet, that is also closed source, and they leaked keys over their mobile app, that is not acceptable.
Trezor is OK, but I would wait for the end of the year when they release new Trezor device.

Would it make sense to combine these different wallets for better safety, or is it overkill?

I would choose open source and if possible airgapped device.
As backup I would choose Satochip Seedkeeper cards, that is better option than using pen and paper backup.

I think "seedless" is reckless.

Proven reckless and unsafe, as people lost money using Tangem.
I am just waiting for next big ''bug'' from them

[cp520]

I think "seedless" is reckless.

That's why I decided to use Tangem as a day-to-day wallet, with a small amount of funds on it. It's a sort of buffer wallet. And later use other wallet for the storage (wallet without battery)

I would choose open source and if possible airgapped device.
As backup I would choose Satochip Seedkeeper cards, that is better option than using pen and paper backup.

I need to check seed-backup tools too.

IMO, every wallet is crap, but some are less crap than others. That's why I don't believe too much in wallet security and think about multiplying the 'crap' to be 'crap-proof' lol

[dkbit98]

IMO, every wallet is crap, but some are less crap than others. That's why I don't believe too much in wallet security and think about multiplying the 'crap' to be 'crap-proof' lol

That is your opinion only, and with that logic you can say that everything in the world is crap, more or less, but that is simply not true.
I would never use tangem,ledger and similar closed source devices that are mostly just a security theater, and they are only damaging the whole bitcoin ecosystem.

[cp520]

That is your opinion only, and with that logic you can say that everything in the world is crap, more or less, but that is simply not true.
I would never use tangem,ledger and similar closed source devices that are mostly just a security theater, and they are only damaging the whole bitcoin ecosystem.

I just think we put our trust in things that cater to our biases, like 'open source, transparent, tested...' But as soon as they show a vulnerability, we're disgusted and shocked. My take is that everything in tech is vulnerable, from proprietary to open-source code