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Topic: FOR NEWBIES, wallets to choose from and analysis by Veriphi - page 3. (Read 840 times)

newbie
Activity: 1
Merit: 1

I believe they were grading the wallet app on Trezor's website, not the Trezor hardware itself? But I'll try to talk to them and show the questions in the topic. It shouldn't be hard for them to reply, if they have the time.

Eventough this is a valid assumption, it doesn't take away the fact that newbies reading this list will most likely jump to the wrong conclusion that it's better to create a wallet with an online wallet provider than to invest $100 for a ledger or a trezor. If you're a legit company and you publish a spreadsheet like this, newbies can suffer the consequences of your actions.


You're nitpicking, but I can see your point. I already pointed Verihpi about said criticism, and this topic. I believe a simple clarification near the top of the spreadsheet would do.

Hi Everybody, This is Maciej from Veriphi, my twitter handle is @CepnikMaciej.

Thank you for starting this thread, we're happy this got so much traction. You were right about your presumption when we mention Trezor and Ledger, we are talking about their online platforms. This is specified in the related article when we point out this is a software analysis only. Indeed, in a perfect situation someone using a ledger or trezor with the electrum wallet has really strong security.

We agree this might not be clear enough, especially for people that fall upon the table without the associate article. We will be adding a comment specifying the difference. Thank you all for pointing this out.
legendary
Activity: 2898
Merit: 1823

I believe they were grading the wallet app on Trezor's website, not the Trezor hardware itself? But I'll try to talk to them and show the questions in the topic. It shouldn't be hard for them to reply, if they have the time.

Eventough this is a valid assumption, it doesn't take away the fact that newbies reading this list will most likely jump to the wrong conclusion that it's better to create a wallet with an online wallet provider than to invest $100 for a ledger or a trezor. If you're a legit company and you publish a spreadsheet like this, newbies can suffer the consequences of your actions.


You're nitpicking, but I can see your point. I already pointed Verihpi about said criticism, and this topic. I believe a simple clarification near the top of the spreadsheet would do.
legendary
Activity: 3584
Merit: 5243
https://merel.mobi => buy facemasks with BTC/LTC

I believe they were grading the wallet app on Trezor's website, not the Trezor hardware itself? But I'll try to talk to them and show the questions in the topic. It shouldn't be hard for them to reply, if they have the time.

Eventough this is a valid assumption, it doesn't take away the fact that newbies reading this list will most likely jump to the wrong conclusion that it's better to create a wallet with an online wallet provider than to invest $100 for a ledger or a trezor. If you're a legit company and you publish a spreadsheet like this, newbies can suffer the consequences of your actions.
legendary
Activity: 2898
Merit: 1823
How come hardware wallets like Trezor and Ledger are not recommended? they are making some desktop/mobile wallets look like a better option.

Couldn't agree more... I just read the table and was about to post the exact same thing when i saw you beat me to the punch.

I guess they're missing some factors when they're determining whether or not to recommend a wallet. If they'd take the fact that private keys never touch your computer into account and give these factors a high score, the table would look a tad bit different. But offcourse, if you create a scoring system that's focussed on a less secure wallet, and ignore the features of hardware wallets but still try to use the same scoring system for them, you'll end up "proving" desktop wallets are more secure (for newbies reading this: this statement is untrue... Hardware wallets like trezor or ledger are far more secure than any desktop wallet)


I believe they were grading the wallet app on Trezor's website, not the Trezor hardware itself? But I'll try to talk to them and show the questions in the topic. It shouldn't be hard for them to reply, if they have the time.
legendary
Activity: 3472
Merit: 1724
How come hardware wallets like Trezor and Ledger are not recommended? they are making some desktop/mobile wallets look like a better option.

Also not sure what do they mean when they say that Trezor has bad privacy? as it's always possible to run Blockbook and connect the wallet to your own node.

They're describing Trezor Wallet which isn't great, not the Trezor hardware wallet itself which can be used with other wallets.
HCP
legendary
Activity: 2086
Merit: 4361
Quote
Recommended? "No"... Why? "Shitcoins"

So... apparently choice is a bad thing now? Huh Especially given that the "shitcoins" that BRD wallet supports are BCH, ETH and ERC20 tokens... 2 of which are Top 4 on CoinMarketCap... hardly what you would call a "shitcoin" Roll Eyes

The metrics used in this "analysis" are very subjective. Undecided
legendary
Activity: 3584
Merit: 5243
https://merel.mobi => buy facemasks with BTC/LTC
One other thing just popped to mind when i read the spreadsheet for a second time... A new remark for both ledger and trezor: Both can be used together with electrum. If you use electrum together with a ledger or trezor, many of the "negative" features become "positive".

For example:
  • No shit coins (whatever that might mean)
  • no web app
  • open source backend
  • user can connect to his own node (he'll need an electrum node tough)
  • Python instead of javascript
  • multisig
  • 2FA
  • probably even coinjoin trough an electrum plugin???
  • most of the extra features supported by electrum
  • Tor enabled possible
  • complete fee selection
  • many price api's
  • RBF enabled
  • Coin control enabled
  • user can broacast any tx
  • message signing
  • batch spending
  • testnet
  • ...
copper member
Activity: 2940
Merit: 1280
https://linktr.ee/crwthopia
I think they should have included a summarized part who has the best feature, like what they do in comparing cars. Like of the most recommended feature highlighted, instead of having the 6 columns highlighted in Green, 5 in yellow, 9 in red, and 5 in black. It just seems biased.

So for example:
Open Source: Yes is highlighted in Green
Open Source: No is highlighted in Red

It's quite hard to understand what they are trying to say in that spreadsheet.
legendary
Activity: 3584
Merit: 5243
https://merel.mobi => buy facemasks with BTC/LTC
How come hardware wallets like Trezor and Ledger are not recommended? they are making some desktop/mobile wallets look like a better option.

Couldn't agree more... I just read the table and was about to post the exact same thing when i saw you beat me to the punch.

I guess they're missing some factors when they're determining whether or not to recommend a wallet. If they'd take the fact that private keys never touch your computer into account and give these factors a high score, the table would look a tad bit different. But offcourse, if you create a scoring system that's focussed on a less secure wallet, and ignore the features of hardware wallets but still try to use the same scoring system for them, you'll end up "proving" desktop wallets are more secure (for newbies reading this: this statement is untrue... Hardware wallets like trezor or ledger are far more secure than any desktop wallet)
staff
Activity: 3500
Merit: 6152
How come hardware wallets like Trezor and Ledger are not recommended? they are making some desktop/mobile wallets look like a better option.

Also not sure what do they mean when they say that Trezor has bad privacy? as it's always possible to run Blockbook and connect the wallet to your own node.
legendary
Activity: 2534
Merit: 6080
Self-proclaimed Genius
Post mistakes and disagreements, if there are any.
For Electrum:
Line 12: "Wallet is API, SPV or a Node?" : AFAIK everyone describe Electrum as an SPV wallet.
Line 22: "Can you add extra entropy?" : Yes, Electrum supports SEED extension.
Line 36: "Can you have many accounts?" : If it's about multiple wallet files, it should be yes.
Line 39: "Can the user broadcast any TX?" : Yes by using the console command broadcast(tx)

For clarification, some of these fields should be specific, not yes or no.
legendary
Activity: 2898
Merit: 1823
I found a thorough software wallet analysis from veriphi.io, https://www.veriphi.io/en/software-wallet-analysis

Here's a link to the table presenting all known wallets, https://docs.google.com/spreadsheets/d/1aZ1zbaUEzCo9NCctN8-eL2VLIiSdY009tTJvRXDUWEw/edit?usp=sharing

Post mistakes and disagreements, if there are any.

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