Topic: They say hardware wallets are the safest - page 2. (Read 1185 times)

Well if your hardware wallet is lost, stolen or damaged, you can easily and securely recover all of your cryptoassets, as long as you have access to the 12, 18 or 24 word recovery seed. ... In this case, you can just recover your cryptoassets by importing the recovery seed into the replacement hardware wallet.

A hardware wallet such as Trezor and Ledger have secured wallets that it will be difficult for hackers to access your wallet. As long as you don't download any malware and viruses on your computer, you avoid clicking phishing sites or links. That is why all you need to do is keep your private keys and hardware wallets safe so that no one can have access to your portfolio.

At the perspective of storing offline which is away from potential hackers that spread on the internet, yes using hardware wallet is what we can claim to be the safest wallet compared to the online wallets. Well actually both online and offline wallets can be both safe as long as the owner or holder is responsible enough on storing his/her information and account. It is really nonsense to just depend all on the type of wallet you were currently using if you were not the responsible to take good care of your wallet's information. The safety of the account and wallet starts from its owner and holder. Wallets are tangible and intangible things that has no life so it is really dependent on the owner to take good care of its safety. Whether what wallet you are up to, the safest way you can protect it must start up on you. Whether online or offline (hardware) wallet you are using, it will remain safe if you take good handle on your personal and private information and secure that all things are keep in tack.

Hiding all personal information about wallet, e-mail and other addresses is possible. But the use of devices that are not careful and are always connected to the internet will certainly still be risky to be hacked. There are many ways that hackers can do to hack the device you have.

Using an online wallet, desktop wallet or hardware wallet is indeed everyone's choice. Good security depends on the user. But at least the use of hardware wallet is safer than other wallets. the most important thing is to stay careful and be vigilant so it is not easily hacked

Hardware wallets are really much safer This can be complicated if your computer is compromised by malware or viruses designed to steal your private keys through Keylogger They are also useful against phishing scams who steal your private keys. But if you're using a hardware wallet you won't even see your own private keys These are actually stored on the device itself then you can access your wallets through the PINs that physically enter the device The pin is of course your own choice.

But security doesn’t stop there If your wallet is ever lost stolen or damaged you'll be able to easily recover it using a list of seed words you created when you set up the device. You will be provided with a card for this purpose The transaction is much easier.

Your statement about if the hardware gets broken or missing, you can still recover your account. How? Through your recovery phrases, you can still use it to open your wallets.

What I like about using a hardware wallet is when we are transacting, some other types of wallet allows us to view our private key and information that are critical. Hardware wallets don't allow that. So, many malware couldn't screenshot this critical information. Lastly, you cannot make transaction easily if you don't have the hardware ready. There are tons of other features with hardware wallet, it isn't just the security that makes it top of the line, but also, they have softwares made for the hardware itself and I find it User friendly because it is easy to use from desktop to mobile.

If we will be talking about the safest wallet, no doubt it will be the cold storage or the hardware wallets.

A lot of hacks happened with a lot of hot storages and I don't know why they never learn to save them in a storage not connected to the internet. As I always says it, the flaw of the most secure and safest wallet is its users since they are the one taking care of it. Hardware wallets dont have their own thought of taking care of itself.

Standard currency!! What do you mean? Please explain to me what standard you are telling about. AFAIK, Bitcoin has a criteria to be a currency and its goal is to be an electronic currency exactly, you can see it on Bitcoin whitepaper: https://bitcoin.org/bitcoin.pdf. About private key, "safe or not" it completely depends on the user. If you can manage it correctly, then there is no problem with the security. FYI, I have stored my Bitcoin for years both on hardware and online wallets, until now there is no problem at all.

If your hardware stops working, there is an option where you can restore your wallet from the recovery phrase. Maybe you don't fully know hardware wallets that's why you don't like it or maybe you still don't get one to try if it is really the safest or not.

Hardware wallet has the capacity to generate the private keys offline while others can't do for security purpose. This wallet is the best anyone can have to store up their holdings, either on a short-term or on a long-term purpose. Currently, am using this same wallet because its saves me the stress from watching over my holdings every time I heard about a breach of security on exchanges.
Though, other wallets are good for use only if the holdings won't be more than 1bitcoin.

I have bitcoins since 2016 and I used different bitcoin wallet especially online wallet since then. I still do not experienced any issues like hacking or losing my bitcoin so I conclude that online wallet are also safe but make sure that if the online wallet that you will use popular, reliable and have high security that you can ensure that your funds are safe.

For those people who actively accessing their bitcoins, online wallets are what you need because it is easy to access but if you are a long term hodler or when you are passively accessing it then hardware wallet is what you need.

Just use whatever you think works for you, as long as you understand very well how it works. And for someone to hack your wallet they will need some vital information on you, they don’t just mysteriously figure out everything about your address and wallet and then bump in like magic, no it doesn’t work that way. That’s why you have to be careful with the ways you deal with things online.

You have to be careful about where you post your info like email, crypto address, replying spam emails/ unsolicited mails, etc. Just stay on your line and you will be safe.

Yes, that's right .. We are always looking for the safest way to save our encrypted currencies, but there are always pros and cons for each type of hot or cold wallets .. I consider the advantages of cold wallets somewhat more than their negatives, unlike hot wallets that can be penetrated and stolen easily.

But what about the case that tackled recently here?that His hardware wallet is being Hold by authorities?
i know that this is isolated case yet alarming right?

But no doubt that this is the safest wallet cryptonian ever had.

In this wallet we are totally secured because we are holding our funds in our own way,not like software wallets that hackable.

 creators of those software already think of that before they produce it and before you think of those possibilities .

 never used one but i think they allow several backup options like cloud transfer something like that so that when the hardware got damage or lost , you can be able to restore your keys/coins but most brands are sturdy enough and can handle almost any damages throw to them so lets not be paranoid  and dont buy the generic brand ones   .

The safest wallet is a (stamped) Cryptosteel wallet.
They are safer then a Paper wallet because a paper wallet can burn and probably will not survive being in a liquid for long.
But Paper wallets are safer then Online wallets.
Then there are the Hardware wallets of the USB type i also do not like those they can drop into a liquid or the hardware can get damaged beyond repair.
I see many people on here defending online wallets, but it's all just bullocks.
Many times they will get hacked and the result coin's stolen / lost , these stories pup up all the time.
Sometimes they even get robbed by the ones behind the service.
Other then that remember your keys your coins, not your keys not your coins.
I have seen an instance where some service provider had send out the transaction twice and as a result the party that ordered the coins got funded the double amount they ordered.
This happened to several of their customers which got funded twice their order.
But because these customers had online wallets with the service provider, the selling party then quickly took matters into their own hands and hijacked or 'froze' all their wallets ! until the buying party had deposited back the coins that were overpaid.
Can you imagine this situation ?
You have a rock solid and safe crypto currency system yet because you have online wallet with a service that service can intervene and control your coins.
Just don't take the risk, ever, or you will find yourself in trouble at some point.
It's like disabling the best available security layer and handing out control over your funds to some external party which is a recipe for disaster.
A disaster will be inevitable.

If you are having good security on your computer and having your keyboard keystrokes encrypted then your passwords can't be stolen even when you type in your password on a computer with a keylogger installed. So that won't matter much. The main problem that can happen with a software wallet installed on your computer is that if it gets attacked then your wallet.dat file can be downloaded by the attacker which he can compare with the dataleaks from other sites or can even bruteforce the password if it is weak enough.

Hardware wallets are much better than software wallets. The hardware wallet security system is much more modern and improved. It always keeps your private key secret during the transaction. Your private key is opened during the transaction in the software wallet. This is one of the biggest problems to scam your wallet. For this reason hardware wallet is much better than software wallet.





 

Although hardware wallets are the safest types of wallets I prefere to combine multiple types of wallets and not to keep all coins at one place. I think that is the best way to secure my coins. I only avoid online wallets because they have too much security issues.
It's all about your preferences and how much you are aware of vulnerabilities but since scams and attacks become more and more sophisticated we all need to know that there is no absolute security.

You control your funds on software wallets as well. This is not why a hardware wallet is better! It's better because your computer can be attacked by malware.

A clean and well maintained computer with a software wallet is almost as safe as a hardware wallet.


There are more cases of exchange hacks because there are 0 cases of hardware wallet hacks.

Hard wallets are hard for a reason.