Pages:
Author

Topic: Seed and hardware wallets - page 2. (Read 269 times)

legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
March 02, 2024, 02:05:41 AM
#5
I haven't tried every wallet on the market. According to my latest tests, you can't check your seed with the ledger, for example, but you can with a bitbox. (handy if you've lost the words, for example, but have access to your wallet and want to write them down somewhere). It seems to me that being able to review restoration words is very important for a beginner, as you don't always have the right reflexes at first. What do you think? This information (whether or not recovery words can be accessed) is never found in wallet descriptions. (unless I'm mistaken)

I think that this "lack of a feature" can be seen as an extra security measure. The first thing that comes into my mind is what if somebody has multiple wallets, based on the same seed and very few standard English words. While, if knowing the PIN, only one can be emptied, with this "feature" and a dictionary based attack, all the wallets can be emptied.
But maybe I am thinking too far and was just seen as an unnecessary feature, since people should properly save their seed words somewhere else.
hero member
Activity: 1554
Merit: 880
Notify wallet transaction @txnNotifierBot
March 01, 2024, 06:56:30 PM
#4
but you can with a bitbox. (handy if you've lost the words, for example, but have access to your wallet and want to write them down somewhere). It seems to me that being able to review restoration words is very important for a beginner,
It's crucial if other people get the hold of that HW wallet with your pin. Hardware wallets should only work on creating wallets, sending/receiving, restoring the wallet seed and a malware-proof that it will not get affected when making transactions on malware-infected device (at least that was advertised). Nothing more, recovery depends on the user's practice as it always recommends to have backup.
legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
March 01, 2024, 06:44:46 PM
#3
About Bitbox hardware wallet yes they do have advantage features that you can't find on the ledger wallet like "show BIP39 Mnemonic" and take
I do not see it as an advantage because we should think about the senario of a hardware wallet owner not backup the seed phrase and the wallet got damaged or stolen.

A good wallet will recommend its users to backup the seed phrase. Also letting the users know the importance of the seed phrase and the reason not to misplace it.

Although, not that I am recommending Ledger Nano wallets.
legendary
Activity: 3472
Merit: 3217
Playbet.io - Crypto Casino and Sportsbook
March 01, 2024, 05:07:05 PM
#2
You are supposed to save the seed phrase backup anywhere somewhere safe if you don't save it or lose and forgot the seed phrase you don't have other choice but to transfer funds from the ledger to a new wallet and reset the ledger hardware device to generate a new seed phrase backup and transfer all funds back to your ledger wallet.

About Bitbox hardware wallet yes they do have advantage features that you can't find on the ledger wallet like "show BIP39 Mnemonic" and take note Ledger doesn't have an open-source code we do not know how safe the ledger wallet is.

All open-source hardware wallets are much safer than closed hardware wallets like Ledger check other open-source hardware wallets from this link below.
- https://bitcointalksearch.org/topic/list-open-source-hardware-wallets-5288971
hero member
Activity: 1820
Merit: 775
March 01, 2024, 04:48:45 PM
#1
I haven't tried every wallet on the market. According to my latest tests, you can't check your seed with the ledger, for example, but you can with a bitbox. (handy if you've lost the words, for example, but have access to your wallet and want to write them down somewhere). It seems to me that being able to review restoration words is very important for a beginner, as you don't always have the right reflexes at first. What do you think? This information (whether or not recovery words can be accessed) is never found in wallet descriptions. (unless I'm mistaken)
Pages:
Jump to: