Ledger giving it to Trezor
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sure, any device like this can be hacked with physical access and adequate effort
that's why one should use an additional passphrase that is not stored anywhere
firmware update and it's provider is still the weakest spot
anyone here using/experimenting with airgap?
that's why one should use an additional passphrase that is not stored anywhere
firmware update and it's provider is still the weakest spot
anyone here using/experimenting with airgap?
Realistically speaking you're fine using a Ledger or Trezor, just don't enable the Recover feature if you fear a government subpoena.
If you use a Trezor, enable the Passphrase (>35 characters) and you're on the safe side too.
If you use a Trezor, enable the Passphrase (>35 characters) and you're on the safe side too.
Question is would you trust this same company who due to "simple mistake" leaked 250k customer details before to handle your recovery passphrase safely xD It is also funny that once EU is enforcing MiCa and other regulations to crypto we get these backdoors in hardware wallets... I guess after all these years old school paper wallet is the safest and most simple way to keep your funds safe!
it's way different use case... Trezor/Ledger are for those who actively manage and use their BTC
if you simply store BTC for years for whatever purpose then hw wallet has very little added value while bringing security tradeoffs - then paper (and alike wallets) can easily be the best and safest solution
sure, it's an optional feature but the real question︀ is whether one should trust a company that is able to design and incorporate such︁ an idiotic "solution" into a hw wallet and putting a terrible PR approach on top︂
I totally get the goal, everyone would like to onboard millions of customers still using︃ software wallets and exchanges but this is hard to believe no matter what
if you simply store BTC for years for whatever purpose then hw wallet has very little added value while bringing security tradeoffs - then paper (and alike wallets) can easily be the best and safest solution
sure, it's an optional feature but the real question︀ is whether one should trust a company that is able to design and incorporate such︁ an idiotic "solution" into a hw wallet and putting a terrible PR approach on top︂
I totally get the goal, everyone would like to onboard millions of customers still using︃ software wallets and exchanges but this is hard to believe no matter what
how much ledger and trezor more secure than a usb key with keepass2 encrypted vault of private keys in it? let's say we zip a keepass file, and put it into another keepass, both with strong master passwords. who can hack it and how? especially if this is kept offline on a usb stick. pretty inconvenient to open the vault each time you need to use the wallets (whatever wallets are installed on the pc) but almost the same process as initializing the ledger/trezor, isn't it? enter pin︀ code, yada yada
the main difference and reason why to spend money︀ on hw wallet (instead of hundred times cheaper usb stick) is the fact that your︁ private keys are never accessible from any online (potentially compromised) device when signing the transaction︂ and the display (which is an absolute must for hw wallet) allows you to verify︃ everything the software like Trezor suite wants to do
There are websites where it's possible to test the︀ strength of passwords and with the current computing power it's impossible to break a strong︁ password in a short amount of time (it will change with quantum computers).
For BTC︂ and ETH (it should be the same for the other blockchains) it's possible to generate︃ offline a wallet, store the private key in an encrypted file, sign a transaction offline︄ and that way you can transfer your crypto without exposing online your keys, just like︅ a hardware wallet.
So yeah, it's the same process but tedious and error prone, I'd︆ say that hardware wallet is more secure because it's not possible to expose the private︇ keys online by mistake.
At the same time, after watching the video I think a︈ hardware wallet is not perfect.
For BTC︂ and ETH (it should be the same for the other blockchains) it's possible to generate︃ offline a wallet, store the private key in an encrypted file, sign a transaction offline︄ and that way you can transfer your crypto without exposing online your keys, just like︅ a hardware wallet.
So yeah, it's the same process but tedious and error prone, I'd︆ say that hardware wallet is more secure because it's not possible to expose the private︇ keys online by mistake.
At the same time, after watching the video I think a︈ hardware wallet is not perfect.
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