starting holding with an "old" hardware wallet

Wapfika

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Quote from: pm10 on February 20, 2023, 04:49:13 PM

Hi there! I bought a trezor t on march 2021 using some btc, i never opened it, now i'm thinking about starting investing a little bit, basicly holding some cryptos i like, but i don't know if it is worth to keep this trezor t or sell it and buy the new one or another kind of hardware wallet. Some advices are appreciated, peace.

Actually you don’t need the new version functionality if you will just hold Bitcoin in long term without accessing it often times because it’s security is just same once it no connected on an internet. The new hardware wallet cost twice or more compared to your old wallet.

I think it will just a waste to upgrade an unused hardware wallet because you will received less amount when you sell it.

AverageGlabella

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A old hardware wallet is not insecure unless there stated on the manufactures website but none of the popular hardware wallets are a problem. The newer hardware wallets offer more features but are not any more secure then your old hardware wallet. If you cannot remember where you bought the hardware wallet then I would recommend changing because you do not know if it came from a official reseller. If it did not it could be tampered with. If it has then it is as safe as the new models. Some of the new models have NFC and features that make the device to complicated imo. Stick with the old hardware wallet and save your money. Use the money you would buy the hardware wallet with and buy btc with it!

AakZaki

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As long as it works fine, use it. You only need to do some firmware upgrades which are definitely available on the trezor website. I am also using Trezor T and it is working till now. Make sure it is not physically damaged and kept in good condition, store phrases properly and easily accessible to you. And for some new types of devices, only the addition of more modern features.

NeuroticFish

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Quote from: pm10 on February 20, 2023, 04:49:13 PM

Hi there! I bought a trezor t on march 2021 using some btc, i never opened it, now i'm thinking about starting investing a little bit, basicly holding some cryptos i like, but i don't know if it is worth to keep this trezor t or sell it and buy the new one or another kind of hardware wallet. Some advices are appreciated, peace.

Well done! Really! Most just go head first into issues. Having a hardware wallet and also asking is a very good way to go.

As the others said, you should update the firmware. It's important, please don't miss this.
Also as others said, you should keep the backup seed safely. But I will say some more things:
1. Make sure it's you who generate a new seed on your device.
2. The seed must be written down and stored safely offline and preferably in at least two places, geographically separated.
3. Maybe it's overkill, but I've seen cases this could have been avoiding other issues: after everything is set up and you can see (write down/copy-paste) your first address or few addresses (I use my hardware wallet with Electrum and there this is easier) reset the hardware wallet again, restore from the written down seed and see if you've got the same addresses. Especially since it's expected you may play around a little with your Trezor it's better to be 100% certain the seed you'll be putting to safety is indeed the one the Trezor has in use.

salad daging

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If the Trezor T hardware is still working, why buy a new one on the grounds that you want to start investing again? Is the Trezor T damaged, if it's fine, then just use the hardware, the most important thing is that you keep protecting the seed phrases safely, then your hardware will be fine.

If you want to try with another device then you can see from the list above or you can use Ledger myself using it for a long time from the last few years and now it still works to store bitcoins as an investment.

Or you want to keep the old one then that's better than selling or buying a new one if the function is the same just keep the crypto you like.

dkbit98

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Quote from: pm10 on February 20, 2023, 04:49:13 PM

Hi there! I bought a trezor t on march 2021 using some btc, i never opened it, now i'm thinking about starting investing a little bit, basicly holding some cryptos i like, but i don't know if it is worth to keep this trezor t or sell it and buy the new one or another kind of hardware wallet. Some advices are appreciated, peace.

Why would you even think about selling a perfectly good unopened hardware wallet?
Trezor model T is open source device and you can use it for holding any of your coins, just make sure to use passphrase if you want to have better proetection of your assets.
Many people could find suspicious when someone is selling hardware wallets unofficially, because this devices can be altered and injected with some malware.
So my answer is NO, don't sell you Trezor wallet, use it wisely.

Sarah Azhari

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Quote from: pm10 on February 20, 2023, 04:49:13 PM

Hi there! I bought a trezor t on march 2021 using some btc, i never opened it, now i'm thinking about starting investing a little bit, basicly holding some cryptos i like, but i don't know if it is worth to keep this trezor t or sell it and buy the new one or another kind of hardware wallet. Some advices are appreciated, peace.

you must not sell or change to a new one. If you have more money, buy a new hardware wallet. and keep still your btc saved on trezor T.
some experts say is better for you to share the investment on not only 1 address or wallet for privacy and security.

Apart of trezor, maybe you should have one too another brand like Ledger, keepkey and etc.

https://bitcoin.org/en/wallets/hardware

sheenshane

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I didn't personally use this hardware wallet because I heard some mild issues but I think if it will work fine for you, why not.
if your hardware wallet didn't compromise there's no reason of changing your wallet.

There are various hardware wallets that you can choose from if you wanted to seek other hardware wallets.
Open Source Hardware Wallets

I only tried Ledger wallet which works fine for me.

BitMaxz

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Do you deposit and hold some coins from the wallet?
Then you are going to sell your wallet while coins are there?
I don't think it's a nice idea unless you already transfer them to a new wallet and fully reset and clean your trezor wallet.

Quote from: examplens on February 20, 2023, 05:15:30 PM

there are many who will tell you that Trezor is one of the best solutions if we are talking about hardware wallets.

Honestly, for me, it is not the best one due to the issue before someone tested that trezor can hack and extract seeds from this wallet sample the report below.

- https://bitcointalksearch.org/topic/kraken-security-labs-just-15-minutes-to-hack-both-of-trezors-crypto-hardware-5222188

pm10

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that's cool, thanks man, have a nice day!

examplens

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Trezor T is just fine. This is the current model and you don't need to change it. I use Trezor One, bought in 2017 and everything works almost perfectly. Just do the necessary update firmware and install the latest version of the Trezor suite app. be sure to download the application from their official site.

there are many who will tell you that Trezor is one of the best solutions if we are talking about hardware wallets.

pm10

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Hi there! I bought a trezor t on march 2021 using some btc, i never opened it, now i'm thinking about starting investing a little bit, basicly holding some cryptos i like, but i don't know if it is worth to keep this trezor t or sell it and buy the new one or another kind of hardware wallet. Some advices are appreciated, peace.

Topic: starting holding with an "old" hardware wallet (Read 144 times)