Is a ledger nano x still a safe cold storage wallet to use - page 2.

m2017

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Quote from: Meuserna on October 26, 2024, 03:20:34 PM

Ledger is not safe.

There is no direct evidence of this. From a technical point of view, HW ledger is reliable and hacking from the outside is almost impossible (no one has succeeded so far, of course, with an allowance for Salim Rashid

). Another point is Ledger itself, which is accused (again, without direct evidence) of possibly having access to user's seed phrases.

What we get as a result: there have been no facts about the theft of crypto by Ledger so far, but this doesn't mean that in the future this will not happen (or will happen).

I would say that this is more a question of trust in this company (which in the past had unpleasant incidents and lied to its clients).

Meuserna

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Quote from: ImThour on October 26, 2024, 09:55:22 AM

Nothing to worry as it doesn't connect to the internet at the time of making a new wallet and it's offline process.

Prove it.

You can't. No one can prove what Ledger's code can or can't do, since Ledger's code isn't open for you or anyone else to fully review.

Ledger added key extraction code to the firmware for their devices, and Ledger is selling that as a feature called Ledger Recover. Key extraction means Ledger and/or their partner companies (let THAT sink in!) or anyone who hacks their code has the ability to extract the keys from your device, over the internet.

Ledger is not safe.

Period.

It's probably fine for storing small amounts, but you should not use it to secure anything you'd be upset about losing.

The only safe use for a Ledger hardware wallet is as a decoy.

Kd29

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Thanks for the slide I was just confused as I thought that’s the whole reason people were upset with ledger that there was an option for the seed to be backed up so even if you didn’t agree to the back up there was still a way for there to be. So I thought nunchuck also having that option may be the same like I said I’m not that tech savvy so don’t want to stuff it up cheers 👍

Charles-Tim

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Quote from: ImThour on October 26, 2024, 09:55:22 AM

You can also look for Trezor, I think it's open source if I am not wrong.

Trezor is open source. The hardware wallet company continue to be open source when they begin to create wallets that have secure element, unlike Ledger Nano wallets that their secure elemens are close source. If he has Jade, I will still prefer it because it is airgapped which is one of the reasons I am recommending Foundation Passport.

Quote from: Kd29 on October 26, 2024, 10:07:39 AM

Hi charles, I have a jade which I set up with nunchuck wallet airgapped but I have heard people saying not to use nunchuck because it also has a back up inheritance plan option which could be compromised.

I have tested how Nunchuck wallet is before. I have posted before in one of your trades that the inheritance is not for single signature wallet but for multisig.

I have also posted that you can connect other wallet with Jade. Not necessary to use Nunchuck. This is the third time I posted this image on another of your post. This is the image:

https://help.blockstream.com/hc/en-us/articles/9601453403801-Download-a-companion-app-for-Jade

You can connect any of the listed wallets in the image above with Jade.

One of the advantages of airgapped wallet is that you are completely sure that your seed phrase and private keys are not connected online. You have the option to use QR code for making transaction.

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Quote from: Kd29 on October 26, 2024, 09:30:26 AM

Is ledger nano x hardware wallet still a safe wallet to use

Listen, I really recommend sticking with your Ledger Nano X if you're using it; it's a solid hardware wallet. Just make sure to keep your recovery phrase stored safely—that’s super important. Also, remember to update your device regularly to benefit from the latest security features. Be cautious of phishing attempts; always check links before clicking on them. Avoid connecting it to public computers or unsecured Wi-Fi networks. If you follow these tips, you can confidently use it to manage your cryptocurrencies

Kd29

newbie

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Hi charles, I have a jade which I set up with nunchuck wallet airgapped but I have heard people saying not to use nunchuck because it also has a back up inheritance plan option which could be compromised. Have been trying to figure out how to set up the jade with sparrow wallet with a watch only wallet put just watched a video that says if you set up the watch only wallet the wallet could be compromised so it’s starting to scare me if I set it up wrong

ImThour

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I have used Ledger before and I do not think why you would not consider it safe, it's a hardware wallet and it's pretty okay if you keep your secret phase actually secret.
Nothing to worry as it doesn't connect to the internet at the time of making a new wallet and it's offline process. You can also look for Trezor, I think it's open source if I am not wrong.

Charles-Tim

legendary

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I thought you bought Jade which is far better.

If possible you do not share your seed phrase with those third parties that Ledger gave as an option to backup your seed phrase. Provided if you have it and not yet ready to buy a good hardware wallet.

I thought hardware wallet should be an offline wallet. How is the wallet offline when it is sharing people's seed phrase with third parties online. It is not an offline wallet and I can not recommend it.

If you want to get yourself a hardware wallet, stay away from Ledger Nano wallets.

Kd29

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Is ledger nano x hardware wallet still a safe wallet to use

Topic: Is a ledger nano x still a safe cold storage wallet to use - page 2. (Read 388 times)