Topic: Huge problem finding hardware wallet - do I only need it for 24 seedphrase? (Read 111 times)

Seed words stored in BitBox and most other devices are encrypted or/and stored in secure element, but there are some hardware wallets that don't store anything like in the case with Cypherock X1.
Generating words on any hardware wallet is not done online and you can also generate them with dices totally offline and then import in your device.
There are also DIY signing devices (SeedSignber or Krux) that deletes everything once the power is turned off, and importing seeds words can be done fast with QR codes or manually.

Ian Coleman lost all his Bitcoin in alleged hack... tadaaaa, so he is not so smart like people think.
If you think you are smarter than guy who created that website, than go ahead, experiment with linux, offline computers and other stuff like that.

Why would you even ask a question like this?!
Experiment for yourself, and tell us what happened when you lose money on Binance.

I've just replied to your post in the other thread regarding Javascript, so I won't repeat myself here other than to say I wouldn't recommend it.

Note that Electrum seed phrases are different from BIP39 seed phrases.

Bitcoin private keys provide "only" 128 bits of security. If a 12 word seed phrase was insecure (which provides 128 bits of security for BIP39 seed phrase and 132 bits for Electrum seed phrases), then by extension every private key in existence is similarly insecure. 128 bits is more than enough. Also note that Electrum can generate 24 word seed phrases if you want it to, as Maus0728 has outlined above.

If you specifically want a BIP39 seed phrase, then you can use Sparrow wallet on an offline Linux machine.

A hardware wallet seems like a waste of time to me in this scenario, provided you are sure you don't want to send from this wallet any time soon.

Can't vouch for BitBox but I encourage you to look through this post for several open source hardware wallets so you have options.
- Open Source Hardware Wallets

Among the list, Trezor is the most popular brand. But I've also read that Keystone and Passport also gains trust from the bitcoin community. I've had my Ledger Nano S and Trezor Model One for approximately two years, and they both still function flawlessly, with the exception of my previous Ledger Nano S, whose OLED screen I had to replace^[1] because it started to dull after a year of use.

My setup, on the other hand, is pretty straightforward. I only use Electrum in conjunction with Ledger Nano S. And so far, none of my bitcoin were lost or has been stolen. Never tried using an old offline laptop with an encrypted Linux OS and Electrum installed in it though.

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

You can but AFAIK, it is only applicable for Electrum wallet.

- Go to View --> Show Concole
- Type make_seed(256,"standard")

From there you'll be given 24 word seed phrase that you can copy and paste from the wizard. Select  File --> New/Restore --> Standard wallet --> I already have a seed

Hello!

From your use case (receive only) I think it makes more sense to generate it with iancoleman's tool. It would be a more cost-effective option than purchasing a hardware wallet and could be safer too as long as you keep your offline device secure.

It depends on your preference. If you're already using Binance and are comfortable with its KYC, then it would be more beneficial to stick with Binance as it typically has better exchange rates, liquidity, and lower spread compared to decentralized exchanges. However, if you value anonymity and privacy, then a decentralized exchange like Bisq might be a better fit for you.

Hello world!

I'm a Bitcoin beginner and have spent some time (over 100 hours) with a headache to find the right hardware wallet and still can't decide. Have already read a lot in the forum as well as on Google.

Because Ledger has not been without controversy in the past, I came across BitBox02, which is also open source. Official website: https://shiftcrypto.ch

But what bothers me again is that the 24 word seed phrase is stored on MicroSD, but I don't want to store anything digitally but just write the 24 seed phrase on paper and laminate it and hide it well. Also, it seems to be the case with all hardware wallets that I have to be online just to generate a 24 seed phrase. Such an offline generation at the 24 Seedphrase would correspond to an "ultracold wallet", which I would prefer.

Actually, I'm only interested in investing about 500 euros in Bitcoin every month and keeping it safe. That's why such a "receive-only" wallet would be enough for me, I don't really want to send anything at all - just the Bitcoin from the Binance savings plan to the cold wallet. Would like to keep the Bitcoin for many years and therefore have no need to send anything.

My question then goes to whether it is worthwhile to buy a hardware wallet at all and not just click on "Generate 24 words" at https://iancoleman.io/bip39/ and tadaaaa:

"BIP39 Mnemonic: random panda whale average appear toddler diary agent spell car pave immense front spend paper scare skate cube parade feel rocket unique saddle cattle"

Of course, only offline with Linux. But don't know because some have written here in the forum that Javascript is not to be trusted. I've already looked towards Electrum offline, but they only offer a 12 seed phrase and you can certainly do that as a Christmas gift but not for eternity and larger amounts. Unfortunately, I am not aware of any wallet software that I can run offline with Linux just to generate the BIP39 24 seed phrase, with which I then receive the public addresses to send my savings plan from Binance there.


Does anyone have an opinion on what is right for me and whether in my case a hardware wallet is worthwhile just to get a secure 24 seed phrase? If so, which hardware wallet? Would like to be able to sleep peacefully again before Easter.

Merci!

PS: In my case (saving for old age), is it generally better to use a decentralized exchange like https://bisq.network instead of Binance?