What kind of security can we talk about? Sid-phrase can be compromised + some kind of wallet balance tracking. Why ask 100-200 dollars for a device when there are tons of free hot wallets? In which you are still provided with a cid phrase when you create a wallet.The problem quoted in the article above is limited to its privacy-intrusive software. You should be able to avoid them if you don't use Ledger Live altogether, although that's a tough call considering you still need to use it if you want to install or remove some apps. The journalist stated that Ledger is contacting the developer in question, but I won't put too much hope on any removal of their tracking apps. It seems like they are moving away from their previous image of a privacy-friendly company since months ago. Who knows, maybe they don't really change but manage to lie and get their way out of trouble every time. So yeah, you should never use them as your main wallet. Building your own air-gapped device is probably better in this case.
The problem quoted in the article above is limited to its privacy-intrusive software. You should be able to avoid them if you don't use Ledger Live altogether, although that's a tough call considering you still need to use it if you want to install or remove some apps. The journalist stated that Ledger is contacting the developer in question, but I won't put too much hope on any removal of their tracking apps. It seems like they are moving away from their previous image of a privacy-friendly company since months ago. Who knows, maybe they don't really change but manage to lie and get their way out of trouble every time. So yeah, you should never use them as your main wallet. Building your own air-gapped device is probably better in this case.Exactly. The image of the company is out of the question (in my eyes) unequivocally. Excuse me, but do you know about Recovery? 6 or 9 other campaigns will have 1-2 words of your cid phrase. If you lose it, you can recover it. Wait, you have to pay $10 for this feature. Is it safety and cold storage? Guess not. And where's the guarantee that without a firmware update on Leadger Live, you won't be able to access your funds money. I hope they realize this at some point, but it will probably be too late as the user churn has already started. Leadger and security = incompatible.
Where is the guarantee that tomorrow or a year from now, other campaigns (that created cold wallets), will not become the same as Leadger. That's right, no guarantees. Everything is at your own risk.Yes, I agree with you on this point. There is no guarantee that all cold wallet companies will become like Ledger in the future. Ledger was initially the best cold wallet company, but it was later discovered that they were leaking user data, as well as the suspicious Ledger recovery service that they recently provided.
Where is the guarantee that tomorrow or a year from now, other campaigns (that created cold wallets), will not become the same as Leadger. That's right, no guarantees. Everything is at your own risk.Yes, I agree with you on this point. There is no guarantee that all cold wallet companies will become like Ledger in the future. Ledger was initially the best cold wallet company, but it was later discovered that they were leaking user data, as well as the suspicious Ledger recovery service that they recently provided.
The bottom line is that since cold wallet companies are central companies, they are subject to the laws of the countries in which they are located on the ground, and therefore I do not rule out that the governments of their countries force them to leak user data, as happened with Ledger.Are you implying that the data leak happened because the government asked them to do so? I thought they just had bad security which allowed the hackers to steal their customer data. I'm not sure if the government is interested in analytics related to IP address etc if they can just run their own node. Even if they want to know who buys Ledger hardware, they can probably ask behind the door already considering how Ledger has acted in the last few months in matters related to privacy.
Are you implying that the data leak happened because the government asked them to do so? I thought they just had bad security which allowed the hackers to steal their customer data.This data will not be useful to governments as it is public and at best (if you use your wallet with the ledger app) all they will have is your Bitcoin address (which is not guaranteed).
If the code is open source that has been reviewed by many developers, and code that works is the same as the code in the hardware wallet, then you will definitely not have to worry about the security of your coins. There are some DIY wallets[1][2][3] that can be built from scratch, and the value of hardware wallets is mainly in acceptingaltcoins.Why would I buy a flash drive for X-amount of money, or do something myself + figure it out. If there are plenty of free hot wallets out there. If anyone thinks there is no need for diversification in wallets. You are very much mistaken. As I wrote earlier, yes - even in this case you need to be extremely careful and trust no one.
If there is no open source hardware wallet, you can create an airgapped environment and use wallets for Bitcoin, Ethereum, and the most famous tokens.
[1] https://bitcointalk.org/index.php?topic=5259912.0
[2] https://bitcointalk.org/index.php?topic=5454770
[3] https://specter.solutions/#diy
Why would I buy a flash drive for X-amount of money, or do something myself + figure it out. If there are plenty of free hot wallets out there. If anyone thinks there is no need for diversification in wallets.1) If you are skeptical, you will need to make sure that the hardware does not contain spyware or any backdoors that may record your data and send it to external parties. In fact, a significant portion of hacker attacks are due to the presence of backdoors placed in your devices.
The same free hot wallets don't host your seed phrase. What did Leadger do?
1) If you are skeptical, you will need to make sure that the hardware does not contain spyware or any backdoors that may record your data and send it to external parties. In fact, a significant portion of hacker attacks are due to the presence of backdoors placed in your devices.Yeah, well, I'm saying don't trust just one cold wallet. You think a 1-click law enforcement leadger won't block your accounts? You doubt it. It's a completely centralized wallet.
2) Some people cannot buy hardware wallets as there is no shipping to all parts of the world, or you need a third party to receive the HW and then ship it to you, but you can buy DIY WALLET parts from anywhere and build it yourself.The same free hot wallets don't host your seed phrase. What did Leadger do?
Ledger is a closed source wallet, whether it is HW or software, so it is not an option for anyone who is looking for privacy or has millions of dollars.
Rektbuilder, a developer, has stated that cryptocurrency hardware wallet company Ledger can track user identities, apps, and even cryptocurrency balances in the device through the use of Ledger Live, its wallet management software. See more for yourself here (https://news.bitcoin.com/developer-alerts-ledger-live-software-could-be-tracking-user-ids-apps-and-balances/).In case of privacy, ledger wallet is the worst to use, but if you want to have the privacy that you want regarding your post, you will need not to use any hardware wallets that are not airgapped. Also use the airgapped one that you can use to connect to another wallet like Sparrow or Electrum. A good example is the use of Passport hardware wallet with Sparrow software wallet. You can not also trust all other hardware wallet that are not airgapped.