Bitcoin hardware wallet

[ajiz138]

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 

Hahaha you already have enough ideas.
It's no different than if you had a used laptop but it still works then reset it > install Electrum > save the seed phrase on paper after the wallet is filled with bitcoin don't connect it to the internet then let it sit. LOL
Still hardware is more practical, but somehow there are still many who hesitate to buy hardware even though the price is not too expensive just choose Trezor which costs $60 our assets will be safe.

[Sokani]

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.

The storing of seed phrase on a piece of paper is the common and most popular method of storage because it very easy and does not attract any cost. Occasionally, you should be checking it and if at any point you see that the ink is fading out, rewrite it on another piece of paper. Also, you should have multiple backups. There's no need to stress yourself about the metallic steel plate, I'd only suggest it if you live in an environment where natural disaster is prevalent.

[ABCbits]

--snip--

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.

I didn't say anything about hardware wallet that was never hacked or had no issue. My point was there are few hardware wallet not worth recommending/mentioning.

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 

It's nice idea, although make sure wallet software you choose have feature for offline/airgapped wallet. At bare minimum. it should able to sign unsigned transaction.

[owlest]

The storing of seed phrase on a piece of paper is the common and most popular method of storage because it very easy and does not attract any cost. Occasionally, you sound be checking it and if at any point you see that the ink is fading out, rewrite it on another piece of paper. Also, you shouldn't have multiple backups. There's no need to stress yourself about the metallic steel plate, I'd only suggest it if you live in an environment where natural disaster is prevalent.

Why is it not necessary to have multiple backups? This reduces the likelihood of losing access to your wallet if the seed-phrase is lost. We don't have natural disasters, but I think you need to make sure you have access to your wallet in the most unforeseen situations. 

[ABCbits]

The storing of seed phrase on a piece of paper is the common and most popular method of storage because it very easy and does not attract any cost. Occasionally, you sound be checking it and if at any point you see that the ink is fading out, rewrite it on another piece of paper. Also, you shouldn't have multiple backups. There's no need to stress yourself about the metallic steel plate, I'd only suggest it if you live in an environment where natural disaster is prevalent.

Why is it not necessary to have multiple backups? This reduces the likelihood of losing access to your wallet if the seed-phrase is lost. We don't have natural disasters, but I think you need to make sure you have access to your wallet in the most unforeseen situations.

I disagree with @Sokani suggestion. But i guess he imply it'll increase risk it found by other people or you need to spend time to verify and replace the backup (if the backup no longer in good condition).

[notblox1]

It's no different than if you had a used laptop but it still works then reset it

Difference is big, because you cant put laptop in your pocket 
You can use other devices like laptops at home but old phone is much better when you are not at home or when you are traveling.
It is easy to pair phone with other devices and wallets using NFC, Bluetooth or QR codes.

[pieppiep]

It's no different than if you had a used laptop but it still works then reset it

Difference is big, because you cant put laptop in your pocket 
You can use other devices like laptops at home but old phone is much better when you are not at home or when you are traveling.
It is easy to pair phone with other devices and wallets using NFC, Bluetooth or QR codes.

You're absolutely right! The portability and convenience of a smartphone make it a popular choice for managing cryptocurrencies, especially when you're on the go.

While smartphones offer great advantages in terms of convenience, it's crucial to prioritize security measures. Keep your device and wallets updated, enable security features, and be cautious about downloading apps or clicking on links from untrusted sources.

The combination of portability, connectivity, and security features makes smartphones a popular choice for managing cryptocurrencies in various daily scenarios.

[owlest]

The storing of seed phrase on a piece of paper is the common and most popular method of storage because it very easy and does not attract any cost. Occasionally, you sound be checking it and if at any point you see that the ink is fading out, rewrite it on another piece of paper. Also, you shouldn't have multiple backups. There's no need to stress yourself about the metallic steel plate, I'd only suggest it if you live in an environment where natural disaster is prevalent.

Why is it not necessary to have multiple backups? This reduces the likelihood of losing access to your wallet if the seed-phrase is lost. We don't have natural disasters, but I think you need to make sure you have access to your wallet in the most unforeseen situations.

I disagree with @Sokani suggestion. But i guess he imply it'll increase risk it found by other people or you need to spend time to verify and replace the backup (if the backup no longer in good condition).

I agree that having more backups makes them easier to find, but a large number of them would greatly reduce the risk of losing access to the wallet. This creates a conflict of interest. However, encrypting backups can prevent a stranger from accessing the owner's wallet even if they have a backup.

[Charles-Tim]

The storing of seed phrase on a piece of paper is the common and most popular method of storage because it very easy and does not attract any cost. Occasionally, you sound be checking it and if at any point you see that the ink is fading out, rewrite it on another piece of paper. Also, you shouldn't have multiple backups. There's no need to stress yourself about the metallic steel plate, I'd only suggest it if you live in an environment where natural disaster is prevalent.

Why is it not necessary to have multiple backups? This reduces the likelihood of losing access to your wallet if the seed-phrase is lost. We don't have natural disasters, but I think you need to make sure you have access to your wallet in the most unforeseen situations.

I disagree with @Sokani suggestion. But i guess he imply it'll increase risk it found by other people or you need to spend time to verify and replace the backup (if the backup no longer in good condition).

I agree that having more backups makes them easier to find, but a large number of them would greatly reduce the risk of losing access to the wallet. This creates a conflict of interest. However, encrypting backups can prevent a stranger from accessing the owner's wallet even if they have a backup.

For seed phrase backup, 2 or 3 backups are enough. Better if they are far away from one another. You encrypt the seed phrase with a password on a flash or memory card, but why not just use passphrase to extend the word instead which is easier. Or maybe you are referring to wallet file encryption and not seed phrase. As long as you use strong passphrase, someone that saw your seed phrase will find it difficult to get access to your coins because he needs the passphrase to get access to it.

[Sokani]

~

Why is it not necessary to have multiple backups? This reduces the likelihood of losing access to your wallet if the seed-phrase is lost. We don't have natural disasters, but I think you need to make sure you have access to your wallet in the most unforeseen situations.

I disagree with @Sokani suggestion. But i guess he imply it'll increase risk it found by other people or you need to spend time to verify and replace the backup (if the backup no longer in good condition).

Corrected. That's was a typo error from me. 

[owlest]

For seed phrase backup, 2 or 3 backups are enough. Better if they are far away from one another. You encrypt the seed phrase with a password on a flash or memory card, but why not just use passphrase to extend the word instead which is easier. Or maybe you are referring to wallet file encryption and not seed phrase. As long as you use strong passphrase, someone that saw your seed phrase will find it difficult to get access to your coins because he needs the passphrase to get access to it.

You can memorise your password phrase, but this can be risky. If you forget it due to memory loss or aging, you may lose access to your wallet. But keeping multiple copies in different places is something I will consider. Thanks for the tip.

[Dor@]

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?

op I agree with you that Bitcoin is the most expensive market so it is very important that our wallets are as secure as possible to hold Bitcoins. I personally think a wallet is very important to keep bitcoins safe. I myself use hardware wallets to hold bitcoins and anyone else would recommend hardware wallets to hold bitcoins. Bitcoin is very important, so it is important for all of us to keep it in a safe wallet to hold Bitcoin. Therefore, we can use hardware wallets for Bitcoin, thinking that first of all we need to keep our wallet safe.