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Author Topic: Bitcoin hardware wallet  (Read 9667 times)

Offline Perfect540

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Re: Bitcoin hardware wallet
« Reply #75 on: January 16, 2024, 09:28:13 AM »
Bitcoin is the most expensive cryptocurrency, with the largest market capitalization, hence ranked one in terms of that.

Hardware wallets are the most secure wallet types, as it comes with different levels of security.

Now, can anyone tell the best bitcoin hardware wallets to store the bitcoins safely?
Bitcoin Hardware Wallet is an important and high security complete wallet.  Although there are different bands of hardware wallets in the market, hardware wallets vary in quality and price.  Among the most popular hardware wallets, Ledger Nano X,S, SafePal S 1, Ellipal Titan, Bitpay, Trezor Model T, M etc. are very important hardware wallets.  If anyone uses any of these there is no chance of getting hacked but in this case the security system should be kept in one's custody.

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Re: Bitcoin hardware wallet
« Reply #75 on: January 16, 2024, 09:28:13 AM »

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Offline Bitcoin_people

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Re: Bitcoin hardware wallet
« Reply #76 on: January 16, 2024, 09:55:11 AM »
You can use hardware and software wallets to keep your bitcoins safe, these will provide maximum security to your bitcoins. If you want to use Bitcoin hardware wallets then using Nano Ledger and Trezor Wallet will keep your funds safe.

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Re: Bitcoin hardware wallet
« Reply #77 on: January 16, 2024, 10:09:16 AM »
You can use hardware and software wallets to keep your bitcoins safe, these will provide maximum security to your bitcoins. If you want to use Bitcoin hardware wallets then using Nano Ledger and Trezor Wallet will keep your funds safe.

op If there is a financial problem then software wallets can definitely be used. Mainly hardware wallets are the most secure, while software wallets are a little less secure.  In particular, you can use the software points that I will mention. Electrum Wallet, and Mycelium Wallet. If you use these two wallets, you can store bitcoins completely safely for a long time, but the keys must be stored carefully.

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Re: Bitcoin hardware wallet
« Reply #78 on: January 16, 2024, 10:31:44 AM »
Bitcoin Hardware Wallet is an important and high security complete wallet.  Although there are different bands of hardware wallets in the market, hardware wallets vary in quality and price.  Among the most popular hardware wallets, Ledger Nano X,S, SafePal S 1, Ellipal Titan, Bitpay, Trezor Model T, M etc. are very important hardware wallets.  If anyone uses any of these there is no chance of getting hacked but in this case the security system should be kept in one's custody.

Hardware Wallets  can be security  tight but that doesn't means they cannot get compromised even if not directly but through the PC. Moreover,  PC is required to make any transactions and if the PCis being  compromised it compromise  the Hardware  along with it, we need to be security  cautious on what we download or link we get our hands on the INTERNET  through the Pc
« Last Edit: January 17, 2024, 09:27:08 PM by CryptoLaila »

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Re: Bitcoin hardware wallet
« Reply #79 on: January 16, 2024, 10:32:47 PM »
You can use hardware and software wallets to keep your bitcoins safe, these will provide maximum security to your bitcoins. If you want to use Bitcoin hardware wallets then using Nano Ledger and Trezor Wallet will keep your funds safe.

op If there is a financial problem then software wallets can definitely be used. Mainly hardware wallets are the most secure, while software wallets are a little less secure.  In particular, you can use the software points that I will mention. Electrum Wallet, and Mycelium Wallet. If you use these two wallets, you can store bitcoins completely safely for a long time, but the keys must be stored carefully.
Everything has an alternative solution. Alternative solutions must be used for those with financial problems. If I consider it from my own side, I don't have enough money to buy a hardware wallet to hold bitcoins right now. Since I don't have enough money I am using software wallet. Although we know that hardware wallet is more secure but for us as an alternative method we have to use software wallet in a way that is more secure for us. Be it TrustWallet, Electrum Wallet, Blue Wallet if you can keep the seed phrase of all these wallets safely then your investment will be much safer.

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Re: Bitcoin hardware wallet
« Reply #80 on: January 16, 2024, 11:32:04 PM »
Everything has an alternative solution. Alternative solutions must be used for those with financial problems. If I consider it from my own side, I don't have enough money to buy a hardware wallet to hold bitcoins right now. Since I don't have enough money I am using software wallet. Although we know that hardware wallet is more secure but for us as an alternative method we have to use software wallet in a way that is more secure for us. Be it TrustWallet, Electrum Wallet, Blue Wallet if you can keep the seed phrase of all these wallets safely then your investment will be much safer.
If you say you don't have enough money to buy a hardware wallet, then look at how many Bitcoin assets you hold or other crypto assets.
The price of hardware wallets is even very affordable and cheaper than the devices you use today, around $ 40-$ 80.

But if you still want to use the Mobile Application, if to store Bitcoin Electrum is a recommendation because I also use it in addition to using a hardware wallet as the main storage

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Re: Bitcoin hardware wallet
« Reply #81 on: January 17, 2024, 07:58:00 AM »
You can use hardware and software wallets to keep your bitcoins safe, these will provide maximum security to your bitcoins. If you want to use Bitcoin hardware wallets then using Nano Ledger and Trezor Wallet will keep your funds safe.
In my opinion, the secure storage of the seed-phrase is more important than the wallet itself. Storing the seed-phrase on a computer can make it vulnerable to theft during software downloads. Hardware wallets are useful for website interactions, but it is still important to be cautious of user permissions. If you store funds on a hardware wallet, it should not be used actively.
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Re: Bitcoin hardware wallet
« Reply #81 on: January 17, 2024, 07:58:00 AM »


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Re: Bitcoin hardware wallet
« Reply #82 on: January 17, 2024, 09:29:56 AM »
I would suggest to buy any hardware wallet that is affordable. Reason is simple - all of them have encryptions and security technology. Some is better, some is not. Each have its own  benefits. But having an extra level of security than simply having password is always better than having no extra security at all. It will save user from a default hacker, but if an elite will hunt for your funds, then he will get you no matter when. So basically all the hardware wallets differ only by design, maybe with special app. So I would get any that I can buy and be happy. Anyway, $20 or $220 worth wallet does the same, it stores crypto.
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Re: Bitcoin hardware wallet
« Reply #83 on: January 17, 2024, 01:32:32 PM »
I would suggest to buy any hardware wallet that is affordable. Reason is simple - all of them have encryptions and security technology. Some is better, some is not. Each have its own  benefits. But having an extra level of security than simply having password is always better than having no extra security at all. It will save user from a default hacker, but if an elite will hunt for your funds, then he will get you no matter when. So basically all the hardware wallets differ only by design, maybe with special app. So I would get any that I can buy and be happy. Anyway, $20 or $220 worth wallet does the same, it stores crypto.
On one hand you're right, and on the other hand you're a little bit wrong. Why spend several hundred dollars on these devices? There is plenty of information on the Internet on how to make such a wallet yourself.

+ do not forget that the use policy (may change) without your knowledge. The situation with Leadger is an example of this. No one was asked for an opinion. One update = your seed phrase is out of your hands. And don't you think there are a lot of cases like this? It's one thing to buy an asset, it's another to keep it without losing access.
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Offline Aanuoluwatofunmi

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Re: Bitcoin hardware wallet
« Reply #84 on: January 17, 2024, 02:42:04 PM »
Hardware wallets are the most secure wallet types, as it comes with different levels of security.

You're wrong, hardware wallets are not the most secured, but they can be among the best but really the best, once you're dealing with a non custodial means of holding your bitcoin, then what comes straight to mind is to either run a node using bitcoincore on Tor client, make use of electrum wallet which is also a multisig bitcoin wallet or get yourself a hardware wallet which falls under bitcoin cold storage.

Now, can anyone tell the best bitcoin hardware wallets to store the bitcoins safely?

You're saying that hardware wallet are the best and most secure wallets to use yet you don't even have an idea of an example of it, should we indeed believe in you and what you're talking about or something else, just come straight to the fact that you don't know about wallets in general and not to even talk about hardware wallets.

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Re: Bitcoin hardware wallet
« Reply #85 on: January 17, 2024, 03:02:41 PM »
You can use hardware and software wallets to keep your bitcoins safe, these will provide maximum security to your bitcoins. If you want to use Bitcoin hardware wallets then using Nano Ledger and Trezor Wallet will keep your funds safe.
In my opinion, the secure storage of the seed-phrase is more important than the wallet itself. Storing the seed-phrase on a computer can make it vulnerable to theft during software downloads. Hardware wallets are useful for website interactions, but it is still important to be cautious of user permissions. If you store funds on a hardware wallet, it should not be used actively.
I agree with you. The biggest risk of hardware wallets and hot wallets is that users store private keys in vulnerable places like PCs. Although Ledger and Trezor have special anti-virus chips, if users lose their private keys to hackers, the value of the hardware wallet will disappear.
Ledger and Trezor both advise users to write down their private keys on paper and store them in a safe place

My friends have a simpler and more economical way: they use Ubuntu OS to run crypto wallet applications on their PC and store information there. They say that Linux OS is much safer than Windows OS and that is enough: both safe and convenient 💪💪💪
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Offline owlest

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Re: Bitcoin hardware wallet
« Reply #86 on: January 18, 2024, 08:00:08 AM »

I agree with you. The biggest risk of hardware wallets and hot wallets is that users store private keys in vulnerable places like PCs. Although Ledger and Trezor have special anti-virus chips, if users lose their private keys to hackers, the value of the hardware wallet will disappear.
Ledger and Trezor both advise users to write down their private keys on paper and store them in a safe place

My friends have a simpler and more economical way: they use Ubuntu OS to run crypto wallet applications on their PC and store information there. They say that Linux OS is much safer than Windows OS and that is enough: both safe and convenient 💪💪💪
Surprisingly, I use Linux Mint rather than Ubuntu as my operating system. Despite rumours that Linux is inferior to Windows, I believe this to be untrue based on my positive experience with Linux Mint.
But I do have a question for you: how do you store the seed phrase? Storing the seed phrase on paper is not ideal due to its susceptibility to ageing and degradation. Instead, I am considering stamping the seed phrase on a steel plate.
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Offline ABCbits

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Re: Bitcoin hardware wallet
« Reply #87 on: January 18, 2024, 01:43:52 PM »
I would suggest to buy any hardware wallet that is affordable. Reason is simple - all of them have encryptions and security technology. Some is better, some is not. Each have its own  benefits. But having an extra level of security than simply having password is always better than having no extra security at all. It will save user from a default hacker, but if an elite will hunt for your funds, then he will get you no matter when. So basically all the hardware wallets differ only by design, maybe with special app. So I would get any that I can buy and be happy. Anyway, $20 or $220 worth wallet does the same, it stores crypto.

Please don't use term "any". Recently we know it's possible to extract private key from Ledger[1]. Bitfi (also called John McAfee hardware wallet) also got hacked many times[2]. But otherwise i agree with you.

[1] https://techcrunch.com/2023/05/18/turns-out-ledger-can-hold-some-of-your-crypto-wallets-keys-if-you-agree-to-it/
[2] https://www.tomshardware.com/news/mcafee-bitfi-cryptocurrency-wallet-hacked,37736.html
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Re: Bitcoin hardware wallet
« Reply #88 on: January 18, 2024, 03:10:39 PM »
I would suggest to buy any hardware wallet that is affordable. Reason is simple - all of them have encryptions and security technology. Some is better, some is not. Each have its own  benefits. But having an extra level of security than simply having password is always better than having no extra security at all. It will save user from a default hacker, but if an elite will hunt for your funds, then he will get you no matter when. So basically all the hardware wallets differ only by design, maybe with special app. So I would get any that I can buy and be happy. Anyway, $20 or $220 worth wallet does the same, it stores crypto.
On one hand you're right, and on the other hand you're a little bit wrong. Why spend several hundred dollars on these devices? There is plenty of information on the Internet on how to make such a wallet yourself.

+ do not forget that the use policy (may change) without your knowledge. The situation with Leadger is an example of this. No one was asked for an opinion. One update = your seed phrase is out of your hands. And don't you think there are a lot of cases like this? It's one thing to buy an asset, it's another to keep it without losing access.

1. That is why I have said, no matter what wallet user will choose, expensive or not, self made or not, there is always a chance to lose keys. Like it or not, there is nothing eternal.  If its impossible to crack a hardware wallet, then social engineering will be used, and owner will give keys himself.

2. I know that people can create their own wallets themselves, but I think we were speaking mostly about out-of-the-box solution here.

I would suggest to buy any hardware wallet that is affordable. Reason is simple - all of them have encryptions and security technology. Some is better, some is not. Each have its own  benefits. But having an extra level of security than simply having password is always better than having no extra security at all. It will save user from a default hacker, but if an elite will hunt for your funds, then he will get you no matter when. So basically all the hardware wallets differ only by design, maybe with special app. So I would get any that I can buy and be happy. Anyway, $20 or $220 worth wallet does the same, it stores crypto.

Please don't use term "any". Recently we know it's possible to extract private key from Ledger[1]. Bitfi (also called John McAfee hardware wallet) also got hacked many times[2]. But otherwise i agree with you.

[1] https://techcrunch.com/2023/05/18/turns-out-ledger-can-hold-some-of-your-crypto-wallets-keys-if-you-agree-to-it/
[2] https://www.tomshardware.com/news/mcafee-bitfi-cryptocurrency-wallet-hacked,37736.html

Name me please wallet that wasnt hacked or had no issues. I think it is matter of time when other wallet users will lose keys. People seems to complain less about Trezor. It is a matter of time when it will get issues also. Hackers dont sit still every day, they develop their methods and technologies also.
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Offline notblox1

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Re: Bitcoin hardware wallet
« Reply #89 on: January 18, 2024, 09:13:10 PM »
If you own old working smartphone you can use it like hardware wallet and you dont have to buy something new.
Just reset your phone, install mobile wallet, remove sim card and turn off internet connection.
Now you have better security for free without spending more money, this is crypto recycle  ;D

 

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