Topic: Hardware Wallets Lifespan - page 2. (Read 309 times)

Loaded question.
Around here you can go to a local MicroCenter and get their house brand cheap ass USB drive, OR you can get a better one from a manufacturer like SanDisk or Kingston.
You would like to think that most hardware wallet makers are using a better grade of components. Higher quality circuit boards, components from name brand suppliers vs the cheap things you may find ao ali express and so on.

But I can say my cold card has survived drops and some spills with no issues.

YMMV based on brand and even luck.

-Dave

Probably the lifespan of a HW device will depend on how often you use it, as well as how you keep it (how careful you use it).

This is a common problem when flash drives fail (sudden and unpredictable).



Can you elaborate on this? OP is interested in exactly this (if I understand correctly). What is the probability that a hardware wallet will fail just as easily as a flash drive?

As far as I know, hardware wallets like Ledger Nano X, in terms of battery, will only last a few years (on their website, it says about five years). But of course, it depends on how the user uses it, where it is stored and other factors, including the quality of the product itself.

But what's more important than that is how you can keep the seed phrase safe and use it to recover to another wallet when whatever hardware wallet you are using is not functioning.

Regarding the SSD or hard drive installed on the computer, I usually use the time machine (macOS) feature to back up data on another hard drive. So that when an error or damage occurs on the main SSD, I can recover it from the backup hard drive.

You might be able to try some backup software that supports the OS you are using.

Ledger devices won't last very long, usually they start to fall apart after few years.
Old version ledger nano S had problems with screen fading out, but you can easily order cheap replacement screen from China.
Ledger nano X has many problems with battery, and plastic for all their models is really cheap and it breaks easily, so you have to be really careful.
Trezor devices doesn't have so much problems, but they are also made from cheap plastic, unless you make your own strong metal case (that is totally possible).
Electronics part for Trezor works just fine, and it's rear to hear they stop working like ledgers.

SSD drives are not the same as cheap USB flash drives, and they can last much longer if they are from Samsung (even older models), and if they have good controllers.
Hardware wallets have nothing in common with SSD or flash drives.

I live in a place where 1000 US is seen as a fortune. Under that perspective I'm kinda rich, compare it to the income of a middle European I go as below the poverty limits.

All is relative I guess.

Your hardware wallet gives you a seed phrase (a series of 12-24 words). You can import that seed phrase to a new hardware wallet or a non-custodial wallet and access your fund.
Note that all your private keys are derived from your seed phrase and that's all you need for recovering your wallet.

#taking too many backups are also very dangerous if you have serious amount, what if someone got one of you backup from 6 you have (i don't know how many backups are good because i don't have that much amount to worry about backups, just a tip to consider)

#and that temperature is safe, don't worry about that.

#also if you hold enough money in crypto and buying a new hardware wallet doesn't seems expensive to you (if you have investment worth buying hardware wallets) then also don't worry because, if you have seed phrase and private keys then you can import it on a new wallet.

These kind of things are designed to last for several years.
but it's important to note, no electronic device can last forever.as time passes, hardware components can degrade or fail, and this can impact the performance and security of the device.so it's good to periodically check for any signs of wear or damage to the hardware wallet and replace it if needed.
some tips to maintain the wallet and try and significantly increase the lifespan :

keep it in a safe place : to avoid accidental damage or robbed by someone, store your hardware wallet in a secure and safe place. Avoid leaving it in places where it have high chances to damage.
use protective casing: consider using a protective casing or cover to prevent scratches and accidental drops. Many hardware wallet manufacturers offer protective cases as an accessory(like phone have covers).
(a fun fact when i got a new phone i was kept that phone in a box for more than a year, you know that when we get new things then we do this type of kid like things, and the hardware wallet seems very cute like a small pendrive)
keep it away from extreme temperatures: exposure to extreme temperatures can damage the hardware components of the cute wallet. therefore, keep your hardware wallet away from direct sunlight, heat sources, or freezing temperatures.
Regularly update firmware: firmware updates can improve the functionality and security of the device. threfore, it's recommended to regularly check for updates and install them as soon as they become available.
use with care: when using your hardware wallet, handle it with care and avoid rough handling. don't use excessive force when plugging or unplugging the device from a pc or mobile device.
backup your wallet: make sure to create and store backup copies of your private keys in a safe and secure location. this will help ensure that you can still access your cryptocurrencies in case the hardware wallet fails or is lost.

I worry about using a harware wallet and once I need to sell the hardware fails. Flashdrives have failed. A non custodial wallet I can restore, can I restore a hardware wallet refusing to connect?

I work web, and have around different 6 Backup drives, some hidden, due to that policy some drives failed after a few years.
Our temps are around 30 to 35 degress celsius.  

Theft is another issue.

Mostlike the battery will be the weak spot on a hardware wallet.

I understand why you worried but it sounds like you did not have a good backup approach. Backups of your wallet can be in many formats, digital, on physical things like paper, metal sheet/ plate etc. and your issue comes from digital backup on SSD that is risky as it is unrecoverable when a SSD is broken technically.

You can do backups digitally but must have backups in other formats like paper, metal sheet/ plate like I said. It prevents issue you worried about. If SSD dies, you have others to use and you will be fine.

I have had my old Ledger Nano S for almost 2 years before I replaced the OLED screen because the brightness was slowly fading to the point where the display was barely visible^[1]. On the other hand, I have had my Trezor One for almost 1.6 years now without any software or hardware issues.

However, the longevity of any hardware wallet on the market still depends on how frequently it is used. Therefore, it is extremely important to always have your seed phrase backed up on secure storage in case something goes wrong or the hardware breaks.

Not pretty sure how the humidity could affect the hardware though..

[1] https://bitcointalksearch.org/topic/--5406622

I am not sure, but I think most hardware wallets should work for a long time, probably more than 10 years. I haven't ever heard of any hardware wallet no longer working.
What are you worry about? If you worry about your fund being lost, take note that you can recover your wallet at any time using your seed phrase.

Edit:
I just found an old topic discussing about the lifespan of hardware wallets. It may be helpful to you.
How long is the lifespan of the hardware wallet?

I wonder how long will hardware wallets, such as ledger, last.
For the time being I favour a non custodial wallet, pc and/or Phone based.

The reason being that SSD has a limited lifespan and I've lost a fair share of flashdrives due whatever mishap.