Topic: Hardware Wallets Lifespan (Read 309 times)

People used it mostly as portable device in combination smartphone connection, and for that you need battery.
You can't use it normally without battery unless you remove the battery and/or cover the contacts inside..
That means you have to be ready for warranty to be voided in this case, but I think they are sending replacement devices while in warranty.

I still have my Trezor One, which I bought probably five years ago? I bought it about one year after it was first released for public use. But I never used it that much because my main wallet is in cold storage in an offline computer. My other wallets have small amount of Bitcoin which don't really need a Trezor. I'm plugging it in right now, and the lights still go on. I believe it will continue to function for five more years.

 

why is the battery on the Ledger so necessary, does it become completely useless without it?
Can't the device be used without batteries, just connected to the computer and using the power required to work from there?

It's worth noting that "used" hardware wallets ^{[in general]} don't have a resale value ^{[selling an unused HW is hard, let alone a used one (I'm referring to normal people, as opposed to an official reseller of a certain brand)]}!
^{- Considering that there's a very high chance of getting a modified version in secondhand markets, most buyers tend to stay away from that route!}

You shouldn't ^{[for the most part (unless you own a customized version)]} if you're going to only buy one!

It's not logical how you think. And I have no intention of passing insults here  
A higher price does not guarantee a better quality, that is, unfortunately, not the case.

If they can afford to implement a titanium casing they should have no problem to also include proper electrical isolation between the casing and the electronics. I do not have a corazon and I doubt anyone would open one just to check if it has actual isolation, though.

I just wish Trezor could sell some steel casing without adding a premium price tag to them. Granted, their business model highly depends on the selling of hardware (their software is free), but charging hundreds of dollars for an aluminum casing is rather silly. 

However, titanium still is slightly electrically conductive unlike plastic. So the argument could be made that static electricity or other shock type events that would not happen with a plastic case have a greater chance of happening with titanium.

Not something that you would really have to loose sleep over worrying about, but it still has the potential to happen.

I still think more comes down to the board and general circuit construction then just physical aspects of the case.

-Dave

Of course it's luxury, but still, the titanium case will protect the electronics much better than ordinary plastic, although I can't say if it justifies such a high price. For someone who has a lot of money and may be a public figure who deals with cryptocurrencies, a device like this is certainly something that can set him apart from the rest.


A few years ago, there was a case where the T model survived a fire and the extinguishing of that same fire, i.e. it was still working after that. I know of one case when one of these was used as a toy for a dog, and in such a case the metal housing would definitely come into its own.

I was also aware of the Corazon products and spite of the apparent high quality, I think the usage of titanium and fancy colors for a HW casing is a little bit too exotic, it is rather a luxurious product rather than one aiming to protect the electronic part of the wallet.

I would be happy with a simple stainless steel casing which added sturdiness and weight to the Trezor. Actually, I would love to know if there is some CNC shop or provider who would be willing to machine steel casings and ship them internationally.  That is something I would pay for, however I have got the feeling it would also be quite expensive to hire a CNC company to do something that specific.


Also, I think even though Trezor is not water-proof, they seem to have some inherent resistance towards moisture.

https://www.reddit.com/r/TREZOR/comments/7hkb1i/trezor_can_be_used_to_launder_money/

It’s true that for 90% of Bitcoin holders it should be as cheap as possible to not completely ruin their bitcoin investment. If we talk about durability we should also think that there are companies that store billions of dollars in bitcoin and they would probably don’t mind to even pay way more than 2 grand.

I have had a Nano S for about 5 years and it still works like the first day it was bought, but I can say for myself that I am a person who takes care of my things much more than the average person. Technical problems are always possible, but many malfunctions of electronic devices are the result of incorrect handling, inadequate storage, and sometimes a bad power network that can damage such devices due to sudden and frequent voltage changes and power outages.

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You forget that the use of higher quality materials means a higher price, and that many still complain that hardware wallets are too expensive, even though you can buy them for less than $50. Manufacturers have to adapt to what the market is looking for, which is cheaper devices that are therefore made of lower quality materials.

Unfortunately, this quality decreased even more after the material prices skyrocketed, but I think that everything has its price, as well as that every product has its buyer. There is HW that costs as much as $2000, and it seems to be sold out.

I would also love the aluminium version but I think that it would basically add nothing to durability since the worst enemy would be moisture. Still I would like more high quality hardware wallets, as many are made of cheap plastics. I think even high quality plastics could already make a huge difference.

I tend to see it the same way.

I have seen reports of people who have keep their Trezors Ones up to 5 years without problems, while also others who claim some problems with the screen started to appear around the 2-3 years period.

In my personal case,I have had one for around 2 years and it everything seems to be normal, still works as a charm. If I was in my power I would have gotten the aluminum version of the Trezor, but the price (in my opinion) is/was out of proportion.

It is rather a collectible than a wallet people would want to use and keep for its durability.   

Even if the theoretical lifespan of your hardware wallet would be infinite, you would have to make a metal beackup or something similar. Because every hardware computer device can be easily destroyed by moisture or electricity. This can even happen on the first day of ownership, so it is better to be safe then sorry in this matter.

I'm sorry to be a little OFFTOPIC, but has anyone made reviews? Just like this tests ----> https://jlopp.github.io/metal-bitcoin-storage-reviews/
Or are there any accessories that enhance the durability of these devices, as we find in smart phones.

Generally, you should not trust an electronic device when it comes to your coins, always keep several backup copies.

This is why you have a backup that consists of 12 or 24 words, which, if stored correctly, ensures that you can perform a wallet recovery at any time in the future. Of course, everyone would like HW to last as long as possible, but buy any electronic device and there is a high probability that it will break within 5 years or even earlier. In the past, such devices were made to last, today they are made so that their duration is limited, and all in order to buy a new device as soon as possible.

Yeah and imagine you need a little from that treasure and once you plug it in you see nil which will make for a happy cold feeling.

Most of its parts are compared with the flash drive, so in normal room conditions and away from heat and dust, it is supposed to give you an average of about twenty-five years at least, during that period you may need to change the battery and screen several times.
I think that the heat and shocks are the ones that will shorten its life significantly

Extactly you nailed it.
I don 't own a entire BTC and I wish not too loose any due to a non recoverable sector.

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.