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hardware wallets safe?


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Snce 2 weeks im in love with offline wallets.

The hardware wallets are the best type of offline wallet that offers very high security and ease of use. Also, as these wallets allow backup, you can easily recover your funds if you lose this device.

One such example of a hardware wallet is Trezor. It operates as secure cold storage. You can easily transfer bitcoins to the device using the Trezor interface, which is accessible from macOS, Linux, Windows, and Android. Its interface is quite easy to use that lists your coins and recent transactions.

Trezor uses a 12 to 24-word seed for protection and recovery and a user-defined PIN. You can also add an encrypted passphrase to your wallet for an added layer of security.
What do u think?

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It seems to me you can not be confident in the security of wallets. Hacks all kinds of wallets, even Ledger. Therefore, I prefer to immediately convert to cash and deposit it in a bank account, where even if something happens I will be guaranteed a refund.

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I keep all my crypto on hardware wallets and I have some paper wallets as well. All of them are securely stored in a safe so I am sure it can't be damaged by fire or storm. Beside that I also keep multiple copies of my private keys on different places. I have small safe boxes in different banks and I have stored my private keys and copies of them in 6 different places. So If in some way I loose my ledger, Trezor or something happens I always be able to restore my wallets. I guess only an atomic bomb that ruins all the places where I store my keys then I will loose my crypto but probably I will be dead myself so doesn't matter

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Well Trezor wallets are safe indeed against any other type of wallets holding money such as online exchanges or cryptocurrency cards.

If you want to go for such hardware safety than you should understand that you are not completely 100% safe as if the hardware gets damaged you will not be able to get your money back.

Edited by DreamStage
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Well it's the same for all technology even if online or offline. The hackers will always find a way to get your money.

From what you said, it sounds so secure and everything. The most reassuring part for me is having backups in case it gets lost because I always lose my wallet or other important things. XD 

9 hours ago, nattekut said:

I keep all my crypto on hardware wallets and I have some paper wallets as well. All of them are securely stored in a safe so I am sure it can't be damaged by fire or storm. Beside that I also keep multiple copies of my private keys on different places. I have small safe boxes in different banks and I have stored my private keys and copies of them in 6 different places. So If in some way I loose my ledger, Trezor or something happens I always be able to restore my wallets. I guess only an atomic bomb that ruins all the places where I store my keys then I will loose my crypto but probably I will be dead myself so doesn't matter

Wow you are so thorough with everything. xD

Also, make sure someone in your family knows where each of them are located and how to access it. It might all go to waste if you encounter certain accidents and such. Just reminding you because I read an article once that a CEO died at the age of 33 and millions of their assets are in his hi tech laptop with a tight pssword. I don't know if they cracked it already and such but i don't want you to end up like him cause we never know when our time will come xD 

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22 hours ago, pras111 said:

maybe you should start looking for someone who can be trusted, to manage all the assets that you have in cryptocurrency. because if you die and no one knows the property you have, then all your money will be a valuable treasure if found.

firstly I do not let a stranger or a trustful person to handle my crypto assets. Everything I have is managed by myself wether it are my crypto holding or my real estate or other real life assets. But do not worry everything is arranged very well. 

My wife knows where all my private keys are stored and knows all passwords. Couple years ago I made up will with a notary in my town and whenever there happens something with me everything will go to wife and kids.  And if something very bad happens with me and me, my wife and kids die at once then there is in my will that all my crypto holdings will be sold and donated to a cancer charity, cause I know what it is after loosing one of my children due to cancer in the past.

So I am fully backed. 

 

Secondly your first sentence is not done in crypto business and even in regular business. I will never trust another person to manage my crypto beside myself. I run 4 real life businesses, I am a professional crypto trader for over 4 years and trading is my main source of income. I am a business owner for over 16 years and sold 3 of my early business for big money after I build them out from scratch. So I think I am more than capable enough to manage my own assets and do not need any help with that

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Its more safe because there was no internet connection and when you eject from usb chance to lost your money going down fast. But this cold wallets (usb flash) is easy to broke it. You would keep it from shakes and keep it dry (for dumb users) , because one time broken usb wallet can't fix ever.

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1 minute ago, ivaylo2000 said:

Its more safe because there was no internet connection and when you eject from usb chance to lost your money going down fast. But this cold wallets (usb flash) is easy to broke it. You would keep it from shakes and keep it dry (for dumb users) , because one time broken usb wallet can't fix ever.

You gotta trust complex systems. My advice is to reduce complexity. Have a look at brainwallets for example (and have a good passphrase)

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I agree with this, cold wallets are among all securities one of the best, maybe the best, to keep safe your alts and btc`s.  I guess that, cold wallets, are one of the most significant features to really create a decentralized economy when having total and secure control of your assets.  A security box at hand.  In how many places do you keep your seed safe, I am talking about a plain simple white paper... I have 5 securities spots, including one in my mom`s house.  And how many people knows about those secret places.... none yet.  Good luck.

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On 6/11/2019 at 6:37 AM, neich said:

Snce 2 weeks im in love with offline wallets.

The hardware wallets are the best type of offline wallet that offers very high security and ease of use. Also, as these wallets allow backup, you can easily recover your funds if you lose this device.

One such example of a hardware wallet is Trezor. It operates as secure cold storage. You can easily transfer bitcoins to the device using the Trezor interface, which is accessible from macOS, Linux, Windows, and Android. Its interface is quite easy to use that lists your coins and recent transactions.

Trezor uses a 12 to 24-word seed for protection and recovery and a user-defined PIN. You can also add an encrypted passphrase to your wallet for an added layer of security.
What do u think?

No, wallet can be called safe, until you keep them safe. Out of all the wallets, hardware wallet are best as they are always offline and have their private keys stored within. They are best for those who are long term investors. 

If you are an occasional trader then hardware wallet are the best. Remember to keep it safe, dust proof and water proof. They tend to get corrupted easily.

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yes its safe,, you not carrying cash save alot of space,, you the only one has access to it..and if its stolen there no way they can get access to it  without the 2 step verification or 12 phrase word. and other is just another flash drive. with no great importance.. 

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  • 4 weeks later...
On 6/12/2019 at 11:32 PM, ivaylo2000 said:

Its more safe because there was no internet connection and when you eject from usb chance to lost your money going down fast. But this cold wallets (usb flash) is easy to broke it. You would keep it from shakes and keep it dry (for dumb users) , because one time broken usb wallet can't fix ever.

indeed they can get broken but if you keep your pass phrase very well than you can always recover the coins that are on the broken hardware wallet. I once broke my ledger which contained 20BTC. I did not panicked. I always have 3-4 empty new ledger at home so I just took a new one and entered the passphrase and got my coins back

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Hardware wallets are very safe given that you don't share your seed/keep it on your pc where it could be exposed to a RAT for example.

Just keep it on paper in a safe place and keep a backup copy somewhere else. Maybe in a safe deposit box would be a good spot for the backup. Totally up to you where to hide it.

Just don't be like me and get really high and bury one in your backyard with BTC on it, and then forget where. Still scratching my head on what to do now.

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For me its 101% safe :) because you`re the only one who have access to it, so basically it safe as long as u keep it safe :) hahahahaha, as long as it have a tight security. i think it will be safe, just relax but still we dont know sometimes even though it has a tight security. great  hacker can still access to it, so idk. just protect your crypto hahahahahaha xD

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