Should I get a hardware wallet ? - page 7.

darkangel11

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Don't let others control your BTC -> self custody

Quote from: bjbear123 on December 04, 2017, 05:06:23 PM

It better not get hacked :/ Angry

Chances for that are slim. If you really want a hardware wallet buy it, but don't think of it as the ultimate protection. You can keep your coins fairly safe without it, especially if you're planning to hold for a long time. Hardware wallets are more for people who are moving money around. If you're holding for 6 months or more you can either make a key offline and store it on a thumb drive or make a paper wallet without having to spend money on a device that you won't have to use for months.

bjbear123

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Quote from: FundFantasy on December 04, 2017, 04:58:37 PM

Quote from: bjbear123 on December 04, 2017, 12:49:17 PM

Im looking to hold crypto for the long term... I don't want to touch or spend it.

Should I get a hardware wallet ?

Im looking at the Ledger Nano S, Is it SAFE ? What hardware wallets to you use ? Is it possible Ledger has access to our private keys ?

At the present time, ledger wallet hasn't been hacked.
It considers as the safest wallet on the market.

It better not get hacked :/ Angry

FundFantasy

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Quote from: bjbear123 on December 04, 2017, 12:49:17 PM

Im looking to hold crypto for the long term... I don't want to touch or spend it.

Should I get a hardware wallet ?

Im looking at the Ledger Nano S, Is it SAFE ? What hardware wallets to you use ? Is it possible Ledger has access to our private keys ?

At the present time, ledger wallet hasn't been hacked.
It considers as the safest wallet on the market.

Kriptex

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Quote from: khaled0111 on December 04, 2017, 04:18:06 PM

Using a hardware wallet is a good choice to keep your Bitcoins safe for long time.
You can use a paper wallet too, it is safe as well besides it is free.

Ledger Nano S is one of the most secured hardware wallets and you can use it to store Bitcoin, Ethereum and altcoins. You can buy it for 58€.
after 5 years, the 1000$ you are planning to invest can become a fortune.

This is very true. Our investments may look small at the moment, but in the future they can be our fortune easily. They can let us improve our economical status easily. This was observed in the past of the crypto. The security is important too.

o_e_l_e_o

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As mentioned, both trezor and ledger are very good. They differ a little in which coins they can store - so buy the one that most closely matches your portfolio. For coins that can't be stored on them, a paper wallet is the next best thing.

khaled0111

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Using a hardware wallet is a good choice to keep your Bitcoins safe for long time.
You can use a paper wallet too, it is safe as well besides it is free.

Ledger Nano S is one of the most secured hardware wallets and you can use it to store Bitcoin, Ethereum and altcoins. You can buy it for 58€.
after 5 years, the 1000$ you are planning to invest can become a fortune.

Airdrop Manager

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I think that from the moment your earnings become important, yes it is essential to opt for a hardware. This is the best security

~Bitcoin~

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If you have small amount of bitcoin than you can keep it in paper wallet (print it out from offline computer).

Buying hardware wallet can be ultimate solution but you have to first make sure that you know all the steps and safety tips that comes with hardware wallet.

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Quote from: bjbear123 on December 04, 2017, 12:49:17 PM

Im looking to hold crypto for the long term... I don't want to touch or spend it.

Should I get a hardware wallet ?

Im looking at the Ledger Nano S, Is it SAFE ? What hardware wallets to you use ? Is it possible Ledger has access to our private keys ?

If you have an extra money to buy a hardware wallet, why not? Using a hardware wallet makes you coins more secured. I suggest you to a buy trezor wallet its a good and secured wallet especially if you will be putting your coin there for a long time. Its easy to set up

Roadly Support

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Hardware wallets are safe, so there’s no worry there... Only get one if you make a lot of transactions and need to keep entering your private keys

Iranus

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Quote from: bjbear123 on December 04, 2017, 12:49:17 PM

Im looking to hold crypto for the long term... I don't want to touch or spend it.

Should I get a hardware wallet ?

A hardware wallet is one good option, yes, but you could always go for a paper wallet.

Your decision should primarily be based on how significant the price of a hardware wallet is relative to your total investment. There's no need to spend an excessive amount on a hardware wallet if a paper wallet is very easy and viable for you.

Quote from: bjbear123 on December 04, 2017, 12:49:17 PM

Im looking at the Ledger Nano S, Is it SAFE

It's almost certainly safe, because it's open source code and thousands of users have the ability to review that code.

Caesar-Giulius

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I have both ledger and Trezor. They are both safe. If you want to keep your coins for the long term. It is recommended to buy a hardware wallet.

Mister1k

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Quote from: bjbear123 on December 04, 2017, 12:49:17 PM

Im looking to hold crypto for the long term... I don't want to touch or spend it.

Should I get a hardware wallet ?

Im looking at the Ledger Nano S, Is it SAFE ? What hardware wallets to you use ? Is it possible Ledger has access to our private keys ?

For the safety concerns you can have the hardware wallet or paper wallet but in cost wise paper wallet is preferable for the users who do not want to invest on the wallet purpose and all. As you asked Ledger nano and trezor are the widely used hardware wallet which can be used and keep safe your bitcoins.
Are you want to use the private key to import your wallet to hardware or you want to know that whether it can be export or not? If you can explain it clearly we can provide the steps to understand your expectation.

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Quote from: bjbear123 on December 04, 2017, 01:01:58 PM

is Ledger trustworthy and have no back doors ?

Ledger uses open source code, which makes this pretty much impossible unless literally no independent person has reviewed their code from recent updates. I'm pretty sure they also sign messages for new updates so that you can verify it's them.

Quote from: bjbear123 on December 04, 2017, 12:49:17 PM

What hardware wallets to you use ?

I use a TREZOR, and I've been very satisfied with it.

The Ledger looks like it has relatively similar features, so I see nothing wrong with getting it instead.

bjbear123

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I don't have much, around $1,000... However I want to store the crypto for 5 years at least, and storing this on an exchange may not be safe for 5 years ?

I can buy a Ledger nano S from a authorised Ledger reseller for $80... would this mean that the crypto stored on it is safe, what im trying to say is Ledger trustworthy and have no back doors ?

Does any one here use one ?

Mometaskers

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Quote from: bjbear123 on December 04, 2017, 12:49:17 PM

Im looking to hold crypto for the long term... I don't want to touch or spend it.

Should I get a hardware wallet ?

Im looking at the Ledger Nano S, Is it SAFE ? What hardware wallets to you use ? Is it possible Ledger has access to our private keys ?

How much bitcoins are you planning to store and how much is the hardware wallets you've looked into. Obviously the more you have the more vigilant you have to be in securing it.

I myself don't have a hardware wallet but from most I heard from people they are safe and a bit harder to hack in compared to software wallets.

bjbear123

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Thanks, What amount of $$ or amount of BTC would you consider buying one necessary ?

Do you use one ?

pawanjain

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Nothing lasts forever

Well that depends on the amount you are holding and if you have some extra money to spend. Hardware wallets are great for proper security but it adds cost to purchase it. If the amount you are holding in crypto is large enough that it needs such security then you should definitely buy a hardware wallet and ledger nano and trezor are a good choice for that. If you don't have a large amount of crypto then you should probably try some paper wallet or private wallet that you can download in your smartphone or PC and save the private key in a safe place.

Quote from: bjbear123 on December 04, 2017, 12:55:48 PM

Thanks, What amount of $$ or amount of BTC would you consider buying one necessary ?

Do you use one ?

I would prefer buying it if I have more than 1 BTC. I currently don't have that much and that's why don't have the need to buy one now.

bjbear123

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Im looking to hold crypto for the long term... I don't want to touch or spend it.

Should I get a hardware wallet ?

Im looking at the Ledger Nano S, Is it SAFE ? What hardware wallets to you use ? Is it possible Ledger has access to our private keys ?

Topic: Should I get a hardware wallet ? - page 7. (Read 1156 times)