My dad got a Ledger from Best Buy.... - page 2.

Aanuoluwatofunmi

sr. member

Activity: 532

Merit: 390

Quote from: tread93 on December 03, 2022, 12:41:03 AM

After speaking with him about the current conditions in the market that he is well aware of I explained to him that even with a major retailer like Best Buy it’s not wise to take ANY chances. He’s returning it and ordering directly from the manufacturer Ledger in Paris now.

It's not all about returning it that matters but buying a hardware wallet from a decentralized source that will not by any chance demand you to fill in form for KYC, many have gone extremely wrong by making this mistake, they buy their hardware wallet from a centralized retail that got their information with them which is to an extent a shortfall in securing one, because hardware wallet was intended to keep you private and secured while some retail source violate this and demand your kyc, be vigilant.

m2017

legendary

Activity: 1792

Merit: 1296

keep walking, Johnnie

It seems to me that your dad did the right thing by returning the purchase back to the reseller. It is better to buy directly from the seller to be 100% sure that you have an original device. In this case, even minimal doubts can do harm if they are justified. Technically, ledger is still a safe place to store crypto, but the firm's reputation has been called into question several times due to lost user data leaked to the network. For many, this is a reason to buy trezor instead of ledger, which is not inferior in terms of reliability and by now has a better reputation.

Upgrade00

legendary

Activity: 1988

Merit: 2160

Professional Community manager

Quote from: tread93 on December 03, 2022, 12:41:03 AM

Can anyone else please confirm my hesitation with the Best Buy purchase?

Yes, your hesitation is appropriate.
Best Buy allows third party purchases and anyone can try to sell an item of theirs through the platform, this makes it possible for someone to sell a flawed device or one with a set of preset keys which can allow them possibly steal funds which are sent to it, if the user does not wipe the device first.

Quote from: tread93 on December 03, 2022, 12:41:03 AM

But who knows, how can you trust anyone? How can ledger not even be questioned? They have in the past but have continued to be one of the best cold storage hardware wallets. Recently the old micro 5 bit Nano S option isn’t even available on their site anymore. He also went with the bluetooth ledger one, which I also told him was much less secure. But it appears that they changed them all. Can someone tell me what is the currently the ledger wallet that is most secure? If not Ledger then what is the best cold storage wallet in your opinion & what facts do you have to back that up?

Ledger should infact be questioned. In crypto, you do not trust you verify.
• Question how their products are closed source and it is impossible for buyers to verify the code which it runs on, leaving risks for hacks,
• Also question the durability of their products.

I personally don't use ledger and refrain from suggesting a hardware wallet to use, as it's a delicate business.
Do your own research based on what you prioritize in a hardware wallet and make your decision.

Quote from: ?? on ??

I think ledger wallet is for those people have larger money I mean from 100k dollars plus value.

With a Bitcoin holding worth $1k, buying a hardware wallet is a shrewd decision, considering how much they are worth relative to it. If you go as high as $5k, then it becomes a necessity.

adzino

copper member

Activity: 2954

Merit: 574

www.Crypto.Games: Multiple coins, multiple games

Quote from: tread93 on December 03, 2022, 12:41:03 AM

My dad recently told me he finally got a ledger but not from where I told him to get it from 😅. After speaking with him about the current conditions in the market that he is well aware of I explained to him that even with a major retailer like Best Buy it’s not wise to take ANY chances. He’s returning it and ordering directly from the manufacturer Ledger in Paris now. Can anyone else please confirm my hesitation with the Best Buy purchase? At this point, it’s not worth betting on even a major retailer as we all know they can fail immensely, just like any company could. But who knows, how can you trust anyone? How can ledger not even be questioned? They have in the past but have continued to be one of the best cold storage hardware wallets. Recently the old micro 5 bit Nano S option isn’t even available on their site anymore. He also went with the bluetooth ledger one, which I also told him was much less secure. But it appears that they changed them all. Can someone tell me what is the currently the ledger wallet that is most secure? If not Ledger then what is the best cold storage wallet in your opinion & what facts do you have to back that up?

Hope everyone is doing great! Looking forward to seeing your response. Have a nice night.

Cheers,

TREAD

As far as I know they have physical security chip that helps you know the authenticity of the device. You can verify if the device is legit and if it has been tampered with or not. But still, since you will be holding your savings/investment, why take the risk or losing everything? Tell your dad to return it and order directly from the manufacturer. Might be few bucks for costly, but still worth buying from them. At least your dad won't be worried, paranoid and lose his sleep over the device.

tread93

hero member

Activity: 1077

Merit: 534

My dad recently told me he finally got a ledger but not from where I told him to get it from 😅. After speaking with him about the current conditions in the market that he is well aware of I explained to him that even with a major retailer like Best Buy it’s not wise to take ANY chances. He’s returning it and ordering directly from the manufacturer Ledger in Paris now. Can anyone else please confirm my hesitation with the Best Buy purchase? At this point, it’s not worth betting on even a major retailer as we all know they can fail immensely, just like any company could. But who knows, how can you trust anyone? How can ledger not even be questioned? They have in the past but have continued to be one of the best cold storage hardware wallets. Recently the old micro 5 bit Nano S option isn’t even available on their site anymore. He also went with the bluetooth ledger one, which I also told him was much less secure. But it appears that they changed them all. Can someone tell me what is the currently the ledger wallet that is most secure? If not Ledger then what is the best cold storage wallet in your opinion & what facts do you have to back that up?

Hope everyone is doing great! Looking forward to seeing your response. Have a nice night.

Cheers,

TREAD

Topic: My dad got a Ledger from Best Buy.... - page 2. (Read 266 times)