Hardware Cold Wallet vs Paper Cold Wallet - page 2.

BitGoba

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Quote from: MarvinHagler on June 27, 2024, 12:44:09 PM

Hi Guys,

I'm looking at purchasing a Cold Wallet to store some of my crypto (currently on an exchange).

I am not interested in trading or accessing it, I just want to HODL.

I have done my research and am leaning towards the latter.

To the more experienced crypto bros, would you recommend a hardware wallet or a paper one?

Thank you.

I recommend a hardware wallet, but choose only Bitcoin wallets like Blockstream Jade, Coldcard, or Foundation Passport. Stay away from wallets that support scam altcoins like Ledger. Such wallets are not focused solely on Bitcoin and its security; they have too many shitcoin applications, which increases the attack vectors. Usually, such wallet manufacturers lack ethics because they add apps for various scam shitcoins even though they know they are scams. For example, Ledger publicly stated that no one could extract the seed phrase, and then they announced that it is actually possible. Use only Bitcoin open-source wallets.

Catenaccio

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Quote from: MarvinHagler on June 27, 2024, 12:44:09 PM

I'm looking at purchasing a Cold Wallet to store some of my crypto (currently on an exchange).

To the more experienced crypto bros, would you recommend a hardware wallet or a paper one?

Hardware wallet is the best, if you can have money to buy a hardware wallet to use. Don't consider a paper wallet that is not safe. Especially if the fund is big, a hardware wallet is more like a must condition.

Hardware wallets are many brands, you must choose open source hardware wallets to buy and use.

[LIST] Open Source Hardware Wallets

crwth

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I personally would prefer to have a hardware wallet instead of a paper one because it's not going to be as safe as having an actual device. I have 2 different devices for different purposes so it depends on how you are going to use your wallets.

Quote from: Sim_card on June 28, 2024, 12:21:54 AM

Quote from: nelson4lov on June 27, 2024, 04:56:57 PM

Paper wallets and hardware wallets are almost the same imo. Foe instance, Ledger wallets. Yes it's a hardware wallet

It is not advisable to use any Ledger wallet product because they can access your private keys.

Can you point me to evidence where they can access the private keys? I'm really interested in your claim. I wouldn't be buy Ledger if that's the case.

Sim_card

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Quote from: nelson4lov on June 27, 2024, 04:56:57 PM

Paper wallets and hardware wallets are almost the same imo. Foe instance, Ledger wallets. Yes it's a hardware wallet

It is not advisable to use any Ledger wallet product because they can access your private keys.

Quote from: BlackHatCoiner on October 22, 2023, 09:45:40 AM

Nobody should be using Ledger to begin with.

- Closed-source.
- Their email database was leaked in the past, and phishing emails were sent across the globe.
- They support centralized shitcoins.

Recipe for disaster. Now I'm reading they can access private keys? Is that confirmed? Hopefully not. Otherwise, it is officially the worst piece of Bitcoin hardware you can get.

If you have an old PC, it is better that you set up electrum cold storage wallet on an airgapped device a d use watch only wallet to monitor, track and broadcast your transactions.

https://electrum.readthedocs.io/en/latest/coldstorage.html

However, if you know how to set up a paper wallet and keep it safe from damage, you should go for it.

adaseb

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Honestly if you are going to hold it for many many years and you are just going to hold bitcoin, you can get away with a paper cold wallet.

Back in 2015 or 2016 or so I basically downloaded the HTML code for Bitaddress (no idea if it still exists) and just ran it on an offline computer, did the randomness by moving the mouse and printed about 20-30 address, multiple copies and later on I threw away that printer just in case. It was basically a $10 printer which had a sample ink cartridge so it wasnt a big loss. Honestly throwing away the printing was a little over board but I didnt know if there was any memory storage on the printer so why risk it.

I loaded the addresses up and years later they worked when I sweeped them. Only issue is that you can only use each address once when you spend it, then you need to move everything to a new address since that private key was exposed. So for holding long term you can just get away with a paper cold wallet.

EL MOHA

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Quote from: shield132 on June 27, 2024, 02:44:22 PM

If you save it properly and are confident that you'll take care of it and it will be extremely safe in a place where you'll store it, then you can go to it but I personally suggest you use a hardware wallet. Hardware wallets have hundreds of benefits, it's more secure, you can plug-in into your computer, and you can securely send and receive Bitcoin while still using an air-gapped wallet device. Definitely go with a hardware wallet.

I wouldn’t say the the hardware wallet is more secure than the paper wallet, the only thing that stands out is the way the paper wallet is generated. People do mistake and generate it poorly and later could get it compromised but if the whole process is done on an airgapped device then it is definitely save, the convenience will be if you wish to regularly send funds that’s where hardware wallet comes in handy, but should you only want to receive you can simply set up a watch only wallet for that paper wallet to monitor the wallet.

The backing up of the seed phrase is basically the same, even hardware Wallets needs its seed phrase and private keys to be stored offline and on a metal too, so that it doesn’t get damaged

nelson4lov

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Paper wallets and hardware wallets are almost the same imo. Foe instance, Ledger wallets. Yes it's a hardware wallet but when the time comes where you'd have to store your seed phrase, you'll be asked to write those words down in a paper and store offline. That said, a hardware wallet is more or less a paper wallet with convenience. So for OP, you should get a hardware wallet since it offers much more than a regular paper wallet.

Stalker22

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Quote from: re-start on June 27, 2024, 02:21:31 PM

If you have a paper wallet, the risk of losing it is high. On the other hand, I feel more secure with hardware wallets since they are less likely to be hacked. While you may use a paper wallet for years without any issues, hardware wallets are a wiser choice.

Hardware wallets offer convenience, but paper wallets can be just as secure, if not more so, for long-term storage. Since paper wallets are an offline storage method in a non-digital medium, they cannot be hacked. There are some other vulnerabilities (such as loss, theft, physical damage, etc.) but hacking is not one of them.

Antotena

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Quote from: MarvinHagler on June 27, 2024, 12:44:09 PM

Hi Guys,

I'm looking at purchasing a Cold Wallet to store some of my crypto (currently on an exchange).

I am not interested in trading or accessing it, I just want to HODL.

I have done my research and am leaning towards the latter.

To the more experienced crypto bros, would you recommend a hardware wallet or a paper one?

Thank you.

You can use your hardware wallet as cold wallet and you can use paper as cold wallet but the question is, can you properly back up your paper wallet seed phrase and still keep the paper in a safe place just in case your back up have problem in the future. If you can, then go for the paper wallet, do back up recovery in a safe place and should not be in paper but a metal plate and deposit the amount of Bitcoin you want and you may import the wallet address on online device as watch only just to monitor your wallet.

However, if you have large amount of money, why not just go for the hardware wallet because if you can invest some KS of dollars into Bitcoin, I don't think hardware is going to be your problem. Remember, safety comes before your investment, if not Bitcoin investment might be compromised later in the future. As long as you don't trade or connect your wallet to anything, your hardware wallet will remain in cold state and nothing will happen to your funds.

shield132

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Quote from: MarvinHagler on June 27, 2024, 12:44:09 PM

Hi Guys,

I'm looking at purchasing a Cold Wallet to store some of my crypto (currently on an exchange).

I am not interested in trading or accessing it, I just want to HODL.

I have done my research and am leaning towards the latter.

To the more experienced crypto bros, would you recommend a hardware wallet or a paper one?

Thank you.

HODL means long-term holding. Good quality paper stored in good conditions will last you a long time but you have to consider that it can easily get wet or cut or you can easily lose it. If you save it properly and are confident that you'll take care of it and it will be extremely safe in a place where you'll store it, then you can go to it but I personally suggest you use a hardware wallet. Hardware wallets have hundreds of benefits, it's more secure, you can plug-in into your computer, and you can securely send and receive Bitcoin while still using an air-gapped wallet device. Definitely go with a hardware wallet.

re-start

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If you have a paper wallet, the risk of losing it is high. On the other hand, I feel more secure with hardware wallets since they are less likely to be hacked. While you may use a paper wallet for years without any issues, hardware wallets are a wiser choice.

Z-tight

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If you are a newbie, then you probably wouldn't know how to generate a paper wallet in a safe enviroment and that could cost you your funds. A paper wallet is secure if you know what you are doing and if you generate your keys in an offline machine, and if you also use a recommended tool to generate your keys.

However, hardware wallets are more popular than paper wallets these days and they are easier to use, especially for a newbie, i would recommend you buy a good hardware wallet, or just run electrum in an airgapped device and back up your seed phrase in a safe location.

mk4

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Hardware wallet. So you know it'll actually be done correctly, and so you can transact with your bitcoin if you need to. Contrary to popular opinion, paper wallets aren't secure if you just print them out using your personal computer and your printer. For a paper wallet to be secure, you need to generate your wallet on an air-gapped device.

read: https://chainsec.io/wallets

BitMaxz

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If you can keep the paper wallet safe from anyone and safe from any damage why not use a paper wallet?
If you want to spend you can also do a cold storage instead of buying a hardware wallet.

This is just me but I am more safe to have a wallet on a offline or cold wallet than buying a hardware wallet.

Charles-Tim

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Hardware wallets are more useful for frequent transactions but in a way your private keys are safe than on online wallets. If you do not want to spend the coins but hold it instead, you can create an airgapped device and install Electrum on it. Electrum is preinstalled on Tails OS. Create your wallet on the airgapped device, delete and reinstall the OS after you created and backup the wallet seemed phrase offline.

Quote from: OmegaStarScream on June 27, 2024, 01:02:27 PM

You can create the paper wallet and go for stainless steel or Titanium seed phrase backup option together with laminated seed phrase backup in different locations.

OmegaStarScream

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My advise to you is to just go with a hardware wallet if the amount is big. I personally would be too paranoid with a paper wallet, even with all the safety precautions one could take. Paper wallets are also easier to damage or lose.

Hazink

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My recommendation will be based on which one you can keep very safe and allow you to hold your bitcoin for a long time without losing it due to carelessness. All that matters is if you can keep it safe from hackers.

For a large amount of holding hardware, wallets have been the most recommended since they're more secure in terms of security, and not just any hardware wallet but those of open source, whose code can be checked and verified by other developers.

MarvinHagler

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Hi Guys,

I'm looking at purchasing a Cold Wallet to store some of my crypto (currently on an exchange).

I am not interested in trading or accessing it, I just want to HODL.

I have done my research and am leaning towards the latter.

To the more experienced crypto bros, would you recommend a hardware wallet or a paper one?

Thank you.

Topic: Hardware Cold Wallet vs Paper Cold Wallet - page 2. (Read 302 times)