With the TREZOR you should still have a paper wallet backup for it.
The TREZOR key generation is on the device though, so it avoids the situation where you generate your paper wallet on a compromised machine and therefore your keys are compromised. It's also easy to use the TREZOR if you want to spend from your cold wallet without compromising it.
Topic: Trezor or Paper Wallet? (Read 4594 times)
I wrote a thread about this and I personally prefer Trezor,
while my 'guide' is about Ethereum, I also mention various wallets and ways of security!
https://bitcointalksearch.org/topic/m.36439155
(if anyone has any input to what I wrote there, kindly comment it in the thread because I'm always looking to learn more for safety!)
while my 'guide' is about Ethereum, I also mention various wallets and ways of security!
https://bitcointalksearch.org/topic/m.36439155
(if anyone has any input to what I wrote there, kindly comment it in the thread because I'm always looking to learn more for safety!)
Hardware wallets, Paper wallets and Air-gapped, "cold-storage" wallets are generally considered the "safest"... Of course, they still require that you set them up and use them in a correct and safe manner for them to actually be "safe".
Desktop wallets can also be "safe" if used correctly and common sense is exercised with regards to computer security (don't download random software, check digital signatures of downloaded wallets, regular virus/malware scans etc)
Online (web) wallets and exchanges are generally considered the least safe.
Desktop wallets can also be "safe" if used correctly and common sense is exercised with regards to computer security (don't download random software, check digital signatures of downloaded wallets, regular virus/malware scans etc)
Online (web) wallets and exchanges are generally considered the least safe.
which wallet is the safest?
i can print multiple keys with paper and place it all the secure place for back up. i cant do that with hardware wallets.
Actually one of the Key advatages of trezor is that you can create multiple passphrases which essentially creates an entirely new wallet on the same device, with the pass phrase acting as an additional 25th seed word to the original 24 word seed generated on the device. Essentially then u would have different Keys for each wallet.
honestly i have a preference for paper wallet. They are safer because you can take multiple copies and store them in a different place in case someone comes to hunt you
How exactly does storing multiple copies in different locations protect you (or your bitcoins) if someone comes hunting for you? 
If they hunt you down and find you... they take the copy you have at your location and then transfer your coins. What use are the multiple copies?
The only thing that having multiple copies stored in multiple locations protects you from is accidental loss (fire/water damage, accidentally thrown away etc) of the copy you have with you. It isn't going to stop anyone who "comes to hunt you".honestly i have a preference for paper wallet. They are safer because you can take multiple copies and store them in a different place in case someone comes to hunt you
How exactly does storing multiple copies in different locations protect you (or your bitcoins) if someone comes hunting for you? If they hunt you down and find you... they take the copy you have at your location and then transfer your coins. What use are the multiple copies?
The only thing that having multiple copies stored in multiple locations protects you from is accidental loss (fire/water damage, accidentally thrown away etc) of the copy you have with you. It isn't going to stop anyone who "comes to hunt you".
honestly i have a preference for paper wallet. They are safer because you can take multiple copies and store them in a different place in case someone comes to hunt you
While a paper wallet could be considered safer, it primarily depends on how often u plan to hold your coins and use them, if u plan to transact from the paper wallet regularly then u risk your coin each time u transfer money out from the paper wallet as you have to out your keys online every time you want to make a transfer. You would then have to create a new paper wallet for full sfatey, and doing this constantly could get tiresome and expensive( constant transfer fees). In this case it would better to use a hardware wallet like the trezor or ledger. If however u dont plan to touch your coins for years than yes a paper wallet is technically safer provided you follow best practices.
paper wallet (i think its the ::)better option and safe so long no one steals it ) 
Now, its really getting confusing. I am not sure of the one to stick to or use anymore myself because I read in this thread; https://bitcointalksearch.org/topic/m.33348015 about how a guy descovered how unsafe it is to store cryptos in a hardware wallet. I have used both (Ledger and Trezor) but later chosed Ledger because of it metal nature.
And haven't really considered the paper wallet because of the tendency of fire outbreak (you never can tell what might happen) but with that recent discovery, I'm just confused of the one to stick to.
And haven't really considered the paper wallet because of the tendency of fire outbreak (you never can tell what might happen) but with that recent discovery, I'm just confused of the one to stick to.
Do not get to fired up
In the event of a fire, the hardware wallet might be destroyed, but you can just retrieve the seed from the secondary location and then buy a new wallet and retrieve the keys from the seed onto that wallet.
The paper wallet is just easier, because you can make duplicate copies and nothing needs to be replaced to retrieve those coins.
With the TREZOR you should still have a paper wallet backup for it.
The TREZOR key generation is on the device though, so it avoids the situation where you generate your paper wallet on a compromised machine and therefore your keys are compromised. It's also easy to use the TREZOR if you want to spend from your cold wallet without compromising it.
The TREZOR key generation is on the device though, so it avoids the situation where you generate your paper wallet on a compromised machine and therefore your keys are compromised. It's also easy to use the TREZOR if you want to spend from your cold wallet without compromising it.
I'm not sure if that's a good idea. I have seen multiple articles and people saying that Brain wallets are not safe and that you shouldn't use them.
And: https://en.bitcoin.it/wiki/Brainwallet#Low_Entropy_from_Human-Generated_Passphrases
Quote
It's not to do with length, but entropy. Humans are terrible at creating randomness, even what you think is hard to guess could in all probability be guessed with enough iteration.
Family names for example are easy to guess, there's a finite number of them and a vast portion of names are from a set of only a few hundred.
What's the chance of you remembering what names are, the spelling, punctuation and ordering? Fairly low I suspect, humans are also terrible at remembering explicit data like that.
As soon as people start trying to be clever, the probably shifts from theft to irrecoverable loss. Just use the cryptographic keys the way they are supposed to be used, 256 bits of entropy created with a CSRNG
https://bitcoin.stackexchange.com/a/41619Family names for example are easy to guess, there's a finite number of them and a vast portion of names are from a set of only a few hundred.
What's the chance of you remembering what names are, the spelling, punctuation and ordering? Fairly low I suspect, humans are also terrible at remembering explicit data like that.
As soon as people start trying to be clever, the probably shifts from theft to irrecoverable loss. Just use the cryptographic keys the way they are supposed to be used, 256 bits of entropy created with a CSRNG
And: https://en.bitcoin.it/wiki/Brainwallet#Low_Entropy_from_Human-Generated_Passphrases
It's the same as saying passwords are not safe and we shouldn't use them. Of course, if your password is among the List of the most common passwords then you're in trouble.
You can create a secure brainwallet.
How these "24 words seeds" that are used everywhere happen to be secure ? Just use a similar seed for your brainwallet.
Sure, if you go like "whiskers is the nicest cat 2016" for your bitcoin seed, then it's like having "password1234" as a password.
There also something else : once you have spent funds from one address you shouldn't use this address to receive bitcoin to again. So it's hard to keep track of everything manually.
A little bit more about entropy :
(Source : https://www.howtogeek.com/195430/how-to-create-a-strong-password-and-remember-it/ )
I'm not sure if that's a good idea. I have seen multiple articles and people saying that Brain wallets are not safe and that you shouldn't use them.
And: https://en.bitcoin.it/wiki/Brainwallet#Low_Entropy_from_Human-Generated_Passphrases
Quote
It's not to do with length, but entropy. Humans are terrible at creating randomness, even what you think is hard to guess could in all probability be guessed with enough iteration.
Family names for example are easy to guess, there's a finite number of them and a vast portion of names are from a set of only a few hundred.
What's the chance of you remembering what names are, the spelling, punctuation and ordering? Fairly low I suspect, humans are also terrible at remembering explicit data like that.
As soon as people start trying to be clever, the probably shifts from theft to irrecoverable loss. Just use the cryptographic keys the way they are supposed to be used, 256 bits of entropy created with a CSRNG
https://bitcoin.stackexchange.com/a/41619Family names for example are easy to guess, there's a finite number of them and a vast portion of names are from a set of only a few hundred.
What's the chance of you remembering what names are, the spelling, punctuation and ordering? Fairly low I suspect, humans are also terrible at remembering explicit data like that.
As soon as people start trying to be clever, the probably shifts from theft to irrecoverable loss. Just use the cryptographic keys the way they are supposed to be used, 256 bits of entropy created with a CSRNG
And: https://en.bitcoin.it/wiki/Brainwallet#Low_Entropy_from_Human-Generated_Passphrases
Have you considered using a brain wallet ? You can store your bitcoin in your head => https://en.bitcoin.it/wiki/Brainwallet
These won't become technologically obsolete (as today's hardware wallet may become). Also, the technology to hack into your brain isn't here yet.
If you don't get Alzheimer's disease or brain cancer, well your coins are pretty safe in a brain wallet. No critical piece of paper that may burn, no hardware.
These won't become technologically obsolete (as today's hardware wallet may become). Also, the technology to hack into your brain isn't here yet.
If you don't get Alzheimer's disease or brain cancer, well your coins are pretty safe in a brain wallet.
No critical piece of paper that may burn, no hardware.
I think Ledger s Nano is more trustful instead of Trezor.
My Friend Bought it and told me its a more secure wallet rather than anything else. I also suggest to use Ledger S nano rather than any other thing
My Friend Bought it and told me its a more secure wallet rather than anything else. I also suggest to use Ledger S nano rather than any other thing
Haven't gotten to try Trezor or Paper Wallet yet. Maybe you wanna try Paxful.com? I've been cycling through the different wallets and I got on Paxful recently and it's pretty good so far as I'm concerned.
An online wallet is not comparable to a hardware wallet (trezor) or a paper wallet security-wise.
In an online wallet your private keys are stored (either encrypted or unencrypted) on the service providers server. This creates a lot of new attack vectors compared to hardware-/paper wallets.
With a hardware wallet you have a dedicated device which creates and holds the pivate keys in an airgapped device. It can be used on infected PC's without being exposed to theft.
A (properly created) paper wallet also is completely airgapped.
The whole security of a paper wallet relies on 1) the physical security and 2) the way it has been generated.
Haven't gotten to try Trezor or Paper Wallet yet. Maybe you wanna try Paxful.com? I've been cycling through the different wallets and I got on Paxful recently and it's pretty good so far as I'm concerned.
Its unfortunate we don't get notifications for replied post, my replies would have come sooner. I just thought i should check out this thread before I begin. Glad to see your reply
Just for future reference, if you click the "notify" link in the top right corner you can setup email notifications for comments and replies on a specific thread...Very useful if you want to keep tabs on a specific thread. Also, the "watchlist" feature is handy for threads you're interested in, but don't necessarily want immediate notification for.. you can then simply click the "watchlist" link in the top left corner to see a list of "watched" topics that have new posts
Well, there is no way to check and know if my device had previously been tampared with. The hardware has always been on my possession. I have never lossed it, though I have recklessly placed it on places i shouldn't. And I perfectly trust my family members. But I can't say for my colleagues whom I always travel with.
Anyway, I will follow your procedure. Hey HCP, thanks man for putting me through. Its unfortunate we don't get notifications for replied post, my replies would have come sooner. I just thought i should check out this thread before I begin. Glad to see your reply
Anyway, I will follow your procedure. Hey HCP, thanks man for putting me through. Its unfortunate we don't get notifications for replied post, my replies would have come sooner. I just thought i should check out this thread before I begin. Glad to see your reply
A great rule of thumb to go by which may be complete paranoia is if you think it could of been tampered with at anytime then you transfer everything as soon as possible and get a non compromised device. It's extremely unlikely that your work colleagues possess the skills to compromise the device but, always assume that whoever had access to it physically could well compromise it.
Well, there is no way to check and know if my device had previously been tampared with. The hardware has always been on my possession. I have never lossed it, though I have recklessly placed it on places i shouldn't. And I perfectly trust my family members. But I can't say for my colleagues whom I always travel with.
Anyway, I will follow your procedure. Hey HCP, thanks man for putting me through. Its unfortunate we don't get notifications for replied post, my replies would have come sooner. I just thought i should check out this thread before I begin. Glad to see your reply
Anyway, I will follow your procedure. Hey HCP, thanks man for putting me through. Its unfortunate we don't get notifications for replied post, my replies would have come sooner. I just thought i should check out this thread before I begin. Glad to see your reply
Be aware that simply resetting the device will not make you "safe" if your device had previously been tampered with... As there is a possibility that your current seed had been generated by a compromised firmware.
So, what you would need to do is reset it, reload the firmware and then to be completely sure you were "OK", you would need to create an entirely new seed once you were sure you were on a "clean" firmware and then move all your coins to the addresses generated by the new seed.
The problem with trying to move from one seed to another with only one device is that it can require a fair bit of time. Assuming you have already updated to latest "patched" firmware, the process would look something like:
1. Reset device
2. Set up new seed
3. Get new addresses for all the coins you need to transfer
4. Reset device
5. Restore OLD seed
6. Send all your coins to new addresses from Step 3.
7. Reset device
8. Restore NEW seed
9. Live happily ever after
So, what you would need to do is reset it, reload the firmware and then to be completely sure you were "OK", you would need to create an entirely new seed once you were sure you were on a "clean" firmware and then move all your coins to the addresses generated by the new seed.
The problem with trying to move from one seed to another with only one device is that it can require a fair bit of time. Assuming you have already updated to latest "patched" firmware, the process would look something like:
1. Reset device
2. Set up new seed
3. Get new addresses for all the coins you need to transfer
4. Reset device
5. Restore OLD seed
6. Send all your coins to new addresses from Step 3.
7. Reset device
8. Restore NEW seed
9. Live happily ever after
It isn't "unsafe"... There was a vulnerability discovered that had the potential to be exploited. However, there were a specific set of things that needed to be done for that "exploit" to be utilised. Specifically, the attack would need physical access to your device... and would need to load a custom firmware onto it.
Resetting the device upon delivery and updating the firmware would effectively remove a "bad" custom firmware that had been loaded using the exploit. Additionally, the vulnerability has since been patched as of version 1.4.1 of the Ledger firmware.
Oh! I see. At least the uncertainity is getting better than before. I was thinking the hardware could be attacked anywhere, anytime without any physical contact. I was meaning to transfer my coins but I guess I should leave it then. Resetting the device upon delivery and updating the firmware would effectively remove a "bad" custom firmware that had been loaded using the exploit. Additionally, the vulnerability has since been patched as of version 1.4.1 of the Ledger firmware.
Now, since I already have and using the hardware, I should probably reset it; this won't cause any danger right? (I know i am been paraniod but just want to be on a safer fence.) Though, this will be my first time of resetting it cause I never gave it a thought to reset it when I got it months ago.
ledger Nano is a great device. I can give it a try. But my advice will be to exchange you bitcoins for precious metals.
It isn't "unsafe"... There was a vulnerability discovered that had the potential to be exploited. However, there were a specific set of things that needed to be done for that "exploit" to be utilised. Specifically, the attack would need physical access to your device... and would need to load a custom firmware onto it.
Resetting the device upon delivery and updating the firmware would effectively remove a "bad" custom firmware that had been loaded using the exploit. Additionally, the vulnerability has since been patched as of version 1.4.1 of the Ledger firmware.
Resetting the device upon delivery and updating the firmware would effectively remove a "bad" custom firmware that had been loaded using the exploit. Additionally, the vulnerability has since been patched as of version 1.4.1 of the Ledger firmware.
Now, its really getting confusing. I am not sure of the one to stick to or use anymore myself because I read in this thread; https://bitcointalksearch.org/topic/m.33348015 about how a guy descovered how unsafe it is to store cryptos in a hardware wallet. I have used both (Ledger and Trezor) but later chosed Ledger because of it metal nature.
And haven't really considered the paper wallet because of the tendency of fire outbreak (you never can tell what might happen) but with that recent discovery, I'm just confused of the one to stick to.
And haven't really considered the paper wallet because of the tendency of fire outbreak (you never can tell what might happen) but with that recent discovery, I'm just confused of the one to stick to.
or i would do something similar like craving the key on metal or something like this.
There are already 'wallets' available which are made out from metal (e.g. ledger cryptosteel https://www.ledgerwallet.com/products/ledger-cryptosteel)
paper wallets are easy to deal with.
They may be easy to store. But its not intuitive to spend from them.
Especially not for new members. A lot of people have lost funds because of a change address which they havn't backed up.
on another hand hot storage like Ledger Nano S can be very expensive and vulnerable at the same time.
~60$ doesn't seem too much for me.
Especially if you consider all the pros it has. You get an isolated device.
The private key never leave the device. It is convinient and safe.
While it is true that vulnerabilities have found.. nothing is bulletproof safe.
Vulnerabilities will always be found. In each kind of wallet. This does not mean hardware wallets are bad.
i can print multiple keys with paper and place it all the secure place for back up. i cant do that with hardware wallets. though paper wallets serves best back up option.
Hardware wallets are initialized with a 12/18/24 word seed. This seed is used to restore all private keys.
This seed should be backed up in paper form. Not much different from a private key printed on paper?
Hello Folks,
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
Trezor(hardware wallet) and paper wallet bothe are secure abut Trezor is more secure than any of paper wallets. So i fyou think to hold some altcoins then i suggest you to use Trezore wallet.I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
1:- yes you can store your all funds into trezor wallet and spend it whenever you want it.
2:-Trezor is more safe than paper wallet.
3:-yes you can recover yoir wallet with your privat keys.so don't worry about it.
4:- Trezor is very safe and secure than any other wallets.
5:- yes ledger wallet supports more altcoins so if you want to buy more altcoins then i suggest you to buy it.
Always paper or alternate way of cold storage. i cant really trust with hot storage devices for certain reason. i will just print my keys, laminate them and place them fire secured place. or i would do something similar like craving the key on metal or something like this. paper wallets are easy to deal with. on another hand hot storage like Ledger Nano S can be very expensive and vulnerable at the same time. i can print multiple keys with paper and place it all the secure place for back up. i cant do that with hardware wallets. though paper wallets serves best back up option.
It's not "not okay"... but whether or not it is actually "safe" depends on a number of factors...
- How were the bitcoin private keys/addresses created? Created "offline" with sufficient entropy (ie. dice) or simply exported from a wallet on computer?
- How were the paper wallets generated? Written by hand or printed on a "smart"/networked printer?
- Is the safe really "safe"? fire proof? bolted down? water tight? air tight?
- What are you trying to prevent? Physical damage (ie. fire or water damage)? Physical theft?
- Quality of paper and/or ink used?
Having said all that, as long as your storage method satisifies YOUR particular requirements, then your solution should be "okay".
- How were the bitcoin private keys/addresses created? Created "offline" with sufficient entropy (ie. dice) or simply exported from a wallet on computer?
- How were the paper wallets generated? Written by hand or printed on a "smart"/networked printer?
- Is the safe really "safe"? fire proof? bolted down? water tight? air tight?
- What are you trying to prevent? Physical damage (ie. fire or water damage)? Physical theft?
- Quality of paper and/or ink used?
Having said all that, as long as your storage method satisifies YOUR particular requirements, then your solution should be "okay".
Honestly just go for the paper wallet. I own a Trezor and I still havent used it. I have an ordinary USB that I have encrypted and it contains all the wallet files and the private keys for my cold storage needs.
Backing up your private keys and storing them well is all you really need. I dont see the value of buying more than $100 for a hardware wallet.
Backing up your private keys and storing them well is all you really need. I dont see the value of buying more than $100 for a hardware wallet.
Is it okay if I keep all the bitcoin wallet addresses with paper and in a safe?
whats the benefits to having it vacuum sealed?
Basically, it is a form of laminating... the idea being to protect the paper inside a plastic covering to protect it from wear and tear, ink/paper breakdown and the danger of water etc. By vacuum sealing or laminating your paper wallet, you make it less likely to be damaged to the point that you can no longer read it. It is one of the major drawbacks of a "paper" wallet... while they are more "robust" in some ways that desktop or hardware wallets... they are vulnerable in others.
I have used trezor for a few months now and decided to move everything from electrum and paper wallets into trezor.
It‘s very user friendly and the myetherwallet integration is flawless.
I would recommend anyone to make this small investment, it saved me a lot of hassle with private keys. I also prefer this over desktop wallets because I have small kids who occasionally play with my stuff (and potentially push my notebook? Not concerned on them destroying my trezor)
It‘s very user friendly and the myetherwallet integration is flawless.
I would recommend anyone to make this small investment, it saved me a lot of hassle with private keys. I also prefer this over desktop wallets because I have small kids who occasionally play with my stuff (and potentially push my notebook? Not concerned on them destroying my trezor)
Paper wallet for ultra longterm storage. (vacuum sealed)
Trezor ore Ledger for all other needs, you will feel very secure with one of those. Copy youre 24 word seed and move them on 2 separated save places.
You can also add a large password on youre Trezor for extra security.
Trezor ore Ledger for all other needs, you will feel very secure with one of those. Copy youre 24 word seed and move them on 2 separated save places.
You can also add a large password on youre Trezor for extra security.
whats the benefits to having it vacuum sealed? and which is better Trezor or ledger?
Both Trezor and Ledger have pros and cons.
Ledger is cheaper, and, when you flip the cover to close it, it protects the screen.
Trezor is a little bit more expensive, but I feel that keys are stronger than the Ledger ones.
I would say, if you are a beginner and do not want to spend a lot, go for Ledger.
Alternatively, you can check on YouTube, it's full of videos which demonstrate their features and the supported tokens.
Paper wallet for ultra longterm storage. (vacuum sealed)
Trezor ore Ledger for all other needs, you will feel very secure with one of those. Copy youre 24 word seed and move them on 2 separated save places.
You can also add a large password on youre Trezor for extra security.
Trezor ore Ledger for all other needs, you will feel very secure with one of those. Copy youre 24 word seed and move them on 2 separated save places.
You can also add a large password on youre Trezor for extra security.
whats the benefits to having it vacuum sealed? and which is better Trezor or ledger?
Paper wallet for ultra longterm storage. (vacuum sealed)
Trezor ore Ledger for all other needs, you will feel very secure with one of those. Copy youre 24 word seed and move them on 2 separated save places.
You can also add a large password on youre Trezor for extra security.
Trezor ore Ledger for all other needs, you will feel very secure with one of those. Copy youre 24 word seed and move them on 2 separated save places.
You can also add a large password on youre Trezor for extra security.
I've always been a fan of a paper wallet. Trezor requires investment whilst a paper wallet is free. I've had several paper wallets which were created on a live Ubuntu cd and then stored in a secure location for many years. I've recently only opened them after around 3 years of inactivity and moved the funds around.
As long as you do the paper wallet right, and store it in a safe location from theft but also accidental damage. Then you really can't go wrong. Of course this only applies if you are not going to need constant access to the funds. So for holding Bitcoin it's a good investment. But, if you want to access the wallet and specifically send funds to others, then a trezor or a general wallet could be the best option.
As long as you do the paper wallet right, and store it in a safe location from theft but also accidental damage. Then you really can't go wrong. Of course this only applies if you are not going to need constant access to the funds. So for holding Bitcoin it's a good investment. But, if you want to access the wallet and specifically send funds to others, then a trezor or a general wallet could be the best option.
you also have other options like nano ledger and keepkey now, you should research them all !
Ordered ledger nano s last week and got it, just threw all my altcoins in it and leave there at least for few months.You wont be regret for having ledger trust me.
I actually prefer a paper wallet. Electronic wallets are good and nice and secure but like any other electronic gadget they are at risk of being damaged or corrupted. Some of them are also not future-proof and might not work on future systems. So keeping them forever as your sole bitcoin repository might not be a good idea.
In defense of these electronic wallets, they have more features than a simple paper wallet and allows one to spend directly from such wallets. They are also good cold storage wallets.
As for a paper wallet, you can keep multiples of the recovery phrases or private keys in a safe location or even ask family members to keep them in different places. A paper wallet is cheap but ultra secure.
In defense of these electronic wallets, they have more features than a simple paper wallet and allows one to spend directly from such wallets. They are also good cold storage wallets.
As for a paper wallet, you can keep multiples of the recovery phrases or private keys in a safe location or even ask family members to keep them in different places. A paper wallet is cheap but ultra secure.
As we know, the era is evolving with digital transactions, paper wallets are becoming obsolete patterns, and trezor offers safer storage, so far paper wallets are ineffective and thriving because people prefer to transact online and do not need physical paper, just wasting your time.
why would the TREZOR be so expensive? it not like it has NASA level hardware (neither software)
it not like it has NASA level hardware (neither software)There are not a lot of companies that specialises in creating and developing cryptocurrencies hardware wallets. Both Trezor and Ledger have great support. Research and development cost a lot of money, we have to be aware of that. Just look at Ledger company, they have just released Ledger Blue which is kinda advanced technology for such small company.
they both have their benefits. i'm of the belief that trezors are more secure
I actually prefer a paper wallet. Electronic wallets are good and nice and secure but like any other electronic gadget they are at risk of being damaged or corrupted. Some of them are also not future-proof and might not work on future systems. So keeping them forever as your sole bitcoin repository might not be a good idea.
In defense of these electronic wallets, they have more features than a simple paper wallet and allows one to spend directly from such wallets. They are also good cold storage wallets.
As for a paper wallet, you can keep multiples of the recovery phrases or private keys in a safe location or even ask family members to keep them in different places. A paper wallet is cheap but ultra secure.
In defense of these electronic wallets, they have more features than a simple paper wallet and allows one to spend directly from such wallets. They are also good cold storage wallets.
As for a paper wallet, you can keep multiples of the recovery phrases or private keys in a safe location or even ask family members to keep them in different places. A paper wallet is cheap but ultra secure.
why would the TREZOR be so expensive? it not like it has NASA level hardware (neither software)
it not like it has NASA level hardware (neither software)There are not a lot of companies that specialises in creating and developing cryptocurrencies hardware wallets. Both Trezor and Ledger have great support. Research and development cost a lot of money, we have to be aware of that. Just look at Ledger company, they have just released Ledger Blue which is kinda advanced technology for such small company.
they specialize in stability of the security of user assets, they offer different things and are the safest wallets ever, we need to support them as they propose exclusivity at a cost that suits the security system on offer.
i prefer paper wallet. because trezor is hardware too and it can be hacked one day.
How can it be hacked if it is off-line and in safe storage?
The Trezor operates with (A) a hardware Trezor device (B) a cable (C) a computer that has the Trezor wallet software (D) a router (E) the Trezor web site (F) the Internet
Data flows are at least (A) periodic connection to the computer for access (B) block chain inquiries (C) downwards Trezor firmware updates
It's unreasonable to exclude as impossible, all possible attack modes.
I would recommend trezor but the sheet with your recovery word should be divided into sections and keep them under lock in different sites.
Paper wallet from my point of view is too risky but there is no safer way to protect against hackers.
In the end you must manage risk and spread it into several kind of holding methods.
PS: if you don't have your private keys those bitcoins aren't yours!
good luck
Paper wallet from my point of view is too risky but there is no safer way to protect against hackers.
In the end you must manage risk and spread it into several kind of holding methods.
PS: if you don't have your private keys those bitcoins aren't yours!
good luck
I own a Ledger Nano and it is one of the best buys of the year.
I think the pros are the same than the Trezor.
- you can have multiple wallets (BTC, ETH, etc) without messing with private keys
- you can "transfer" your wallets on another device, if lost or stolen, using the sequence of words provided to you
- the signature of the message is done on the device, hence it is more secure
Then I think the choice is also linked to whether you are an organized person, or not. Having all the wallet in a unique place could save a lot of time, if you are a messy person.
I think the pros are the same than the Trezor.
- you can have multiple wallets (BTC, ETH, etc) without messing with private keys
- you can "transfer" your wallets on another device, if lost or stolen, using the sequence of words provided to you
- the signature of the message is done on the device, hence it is more secure
Then I think the choice is also linked to whether you are an organized person, or not. Having all the wallet in a unique place could save a lot of time, if you are a messy person.
i prefer paper wallet. because trezor is hardware too and it can be hacked one day.
How can it be hacked if it is off-line and in safe storage?
Trezor has been compromised. Here's the link:
https://blog.trezor.io/fixing-physical-memory-access-issue-in-trezor-2b9b46bb4522
However it was fixed in the recent software update. That's why I recommend Ledger Nano S. There were no issues yet and there are many coins supported on Ledger. About 4 are going to be added this month! Hardware wallets are great because they don't expose your private keys but they might be hacked someday.
4) What are the pros and cons of using a Trezor wallet?
i prefer paper wallet. because trezor is hardware too and it can be hacked one day.
How can it be hacked if it is off-line and in safe storage?
I would go with Ledger too. Ledger Nano S is cheaper, smaller and in my opinion looks better. However, its build quality is not as good as I thought. Even though my Ledger is on my desk all the time, it has a lot of scratches after 1 month but you have to look closely to notice them. Paper wallets are a good choice if you are going to hold your funds for a long time without moving them anywhere. Hardware wallets are easy to use in terms of sending and receiving transactions.
Ledger is easier to use then Ledger. Ledger more secure.
What is your preference? Ledger or trezor ?
i prefer in Trezor better than paper wallet.
If we talk about a larger value or let's say more than 10BTC, I think that we should use more than one safe storage. Divide your coins and put them into 3 Trezor and 3 Paper Wallets, leave some on Ledger too. Buy one PC just for paper wallet and other transactions, make it safe, don't watch porn on that pc bro lol. Invest in your own security, that's a good investment.
I would select trezor and paper wallet but it in a safe place. In case I lost hardware wallet and my memory
Can Trevor be used for other crypto currencies or is only for BTC?
Hmmm... it seems that neither Google nor the Trezor website are down... so I'm not sure why you could not find this information 
http://doc.satoshilabs.com/trezor-faq/overview.html#which-coins-are-currently-supported
Can Trevor be used for other crypto currencies or is only for BTC?
When it comes time to spend your paper wallet, you need to load that private key into some kind of device (eg. Computer, phone, table) and sign a transaction. At this stage, you have to worry about the security of that system. Is it compromised? Does it have a hacked/buggy RNG? Will it leak your keys through a side channel? The trezor does the signing securely on the device. The keys never leave it and never need to be loaded onto another device.
ONE argument for Trezor vs paper wallet for the long term is what happens if BTC goes to 500k. Suppose you were the lucky guy that had an old paper wallet with 20BTC.....
To use them, you must load the entire sum into some computer and at that moment it is exposed to possible compromise. Because of the "NO CHANGE" property of paper wallets, the entire sum must be swept or imported into a wallet.
A Trezor with 20BTC in that situation, you could pull out say 0.01BTC and only that would be exposed to possible compromise.
I think it would be wise with the Trezor to verify the operation of the HD word sequence restore in one or another wallet, say the Electrum, then to save a copy of that particular program on a flash drive and put it with the Trezor in a safe. You proved it worked with that one wallet, not with any or some wallet that might exist in ten years.
Hardware wallets like the Trezor or Ledger Nano S are much more convenient than paper wallets if you intend to send your coins at all. It is annoying to create new paper wallets everytime you spend coins. For long term storage where you aren't spending the coins, paper wallets work well though and don't cost anything to use.
You could also consider the Ledger Nano S. I believe that it will be supporting NEO in the near future.
For long period of hodling, i think paper wallet is best, but trezor is better if you use your coins everyday.
I would go for an encrypted cloud storage and a written private keys on paper. Why don't I like a Trezor its electronics if it breaks everything is gone and paper wallet what if your house burns down you lose everything? There are ways to avoid it with a fire safe for example. Every has their personal choice. I am hoping that most wallets in the future will have f2a authentication added so you can't lose any crypto even if they can guess something. Yea it won't stop a private key hacker that's why I say write that on paper. If then your house burns you can still log in on new pc with 2fa and get the private key out again.
if you dont wanna spend extra money, paper wallet is the best option.
This implies that you have to trust that the manufacturer doesn't have any rogue employees.
Much like you have to trust your OS maker doesn't have any rogue employees... or Intel/AMD... or the hard drive manufacturer... or the USB manufacturer... or the WiFi chipset manufacturer... or the RAM manufacturer... or the Ethernet manufacturer... or the Router/Modem manufacturer... or the Trezor do their best, and you can verify the publicly viewable code is the one on your device...: https://github.com/trezor/trezor-mcu/blob/master/README.md#how-to-get-fingerprint-of-firmware-signed-and-distributed-by-satoshilabs
With Electrum, you run it on an offline computer or bootable USB and you sign the transaction there. Then you take the transaction to the online computer and broadcast the transaction. The private key never leaves your offline computer.
And what makes you think that a rogue version of Electrum wouldn't encode your private key in the OP_RETURN section of your transaction prior to signing it? What guarantee do you have that the version of Electrum you downloaded is the same as the code on Github?You'll NEVER find a 100% secure solution... there are ALWAYS attack vectors... especially when humans are involved.
why would the TREZOR be so expensive? it not like it has NASA level hardware (neither software)
it not like it has NASA level hardware (neither software) 
When it comes time to spend your paper wallet, you need to load that private key into some kind of device (eg. Computer, phone, table) and sign a transaction. At this stage, you have to worry about the security of that system. Is it compromised? Does it have a hacked/buggy RNG? Will it leak your keys through a side channel? The trezor does the signing securely on the device. The keys never leave it and never need to be loaded onto another device.
With Electrum, you run it on an offline computer or bootable USB and you sign the transaction there. Then you take the transaction to the online computer and broadcast the transaction. The private key never leaves your offline computer.
When it comes time to spend your paper wallet, you need to load that private key into some kind of device (eg. Computer, phone, table) and sign a transaction. At this stage, you have to worry about the security of that system. Is it compromised? Does it have a hacked/buggy RNG? Will it leak your keys through a side channel? The trezor does the signing securely on the device. The keys never leave it and never need to be loaded onto another device.
This already has been discussed before.
"You can read the trezor-mcu source code on github. Compile the code yourself using the docker build script and check that the hash matches. The bootloader also displays the hash on firmware update." - /u/-johoe
https://www.reddit.com/r/Bitcoin/comments/4u7y3j/is_trezor_really_that_secure/
https://bitcoin.stackexchange.com/questions/32544/how-can-trezor-update-firmware-but-never-receive-malware
"You can read the trezor-mcu source code on github. Compile the code yourself using the docker build script and check that the hash matches. The bootloader also displays the hash on firmware update." - /u/-johoe
https://www.reddit.com/r/Bitcoin/comments/4u7y3j/is_trezor_really_that_secure/
https://bitcoin.stackexchange.com/questions/32544/how-can-trezor-update-firmware-but-never-receive-malware
From your first link:
Quote
AFAIK, there is no such thing as checking the signature or hash value of a piece of hardware.
From your second link:
Quote
Assuming all this is implemented correctly and has no bugs or defects, that leaves only the possibility of malicious firmware signed by the manufacturer so that it would be accepted by the security firmware without tripping the safeguards. So to some extent, you have to trust the manufacturer.
This implies that you have to trust that the manufacturer doesn't have any rogue employees.
Can anyone explain how he knows for certain that a rogue employee at Trezor (or any hardware wallet manufacturer) have not and will not put in nefarious code into the firmware?
This already has been discussed before."You can read the trezor-mcu source code on github. Compile the code yourself using the docker build script and check that the hash matches. The bootloader also displays the hash on firmware update." - /u/-johoe
https://www.reddit.com/r/Bitcoin/comments/4u7y3j/is_trezor_really_that_secure/
https://bitcoin.stackexchange.com/questions/32544/how-can-trezor-update-firmware-but-never-receive-malware
Can anyone explain how he knows for certain that a rogue employee at Trezor (or any hardware wallet manufacturer) have not and will not put in nefarious code into the firmware?
i prefer paper wallet. because trezor is hardware too and it can be hacked one day.
I just saw a very interesting video of John McAfee talking about safety concerns on Cryptowallets - pointing out that nearly everyone who visits some porn sites sometimes has a key- and/or screenlogger on their computers without knowing it. He says it's just a matter of time that hackers will implement observation for example if you download or open certain wallets to trigger an alert for them that you might typing in interesting data like your private wallet keys.
Kind of opend my mind a bit more and I will definitly try to switch as much as possible to hardware wallets.
See the full talk here: https://www.youtube.com/watch?v=syI9X_uKvUA
Kind of opend my mind a bit more and I will definitly try to switch as much as possible to hardware wallets.
See the full talk here: https://www.youtube.com/watch?v=syI9X_uKvUA
If you're going to attempt to use sites of that nature that put viruses or trojans onto your computer, I'd suggest you download Tor Browser to still view the sites but as a version that means things are more restricted such as downloads and cookie saving (from torproject.org).
I would prefer trezor because it is also safe, when it is stolen. The thief doesn't have access but you can recover your wallet with a seed. Paper Wallet shows all needed data for capering the wallet.
You do have to store the seed as a format similar to a paper wallet. You can store your paper wallet on a sandboxed computer just as you can store your seed. You can encrypt your paper wallet private key as mcuh as you want and using as many different techniques of encryption as possible (the same as you can do with your seed from a trrezor), though the trezor gives faster access to your coins.
I would prefer trezor because it is also safe, when it is stolen. The thief doesn't have access but you can recover your wallet with a seed. Paper Wallet shows all needed data for capering the wallet.
I just saw a very interesting video of John McAfee talking about safety concerns on Cryptowallets - pointing out that nearly everyone who visits some porn sites sometimes has a key- and/or screenlogger on their computers without knowing it. He says it's just a matter of time that hackers will implement observation for example if you download or open certain wallets to trigger an alert for them that you might typing in interesting data like your private wallet keys.
Kind of opend my mind a bit more and I will definitly try to switch as much as possible to hardware wallets.
See the full talk here: https://www.youtube.com/watch?v=syI9X_uKvUA
Kind of opend my mind a bit more and I will definitly try to switch as much as possible to hardware wallets.
See the full talk here: https://www.youtube.com/watch?v=syI9X_uKvUA
If you plan to hold it for years without touching the funds, use a paper wallet. Trezor is a cold storage wallet, where your bitcoins are stored in a safe & strong environment with the ability to send & receive, unlike a paper wallet that needs to be redeemed if you want these funds.
Honestly just go for the paper wallet. I own a Trezor and I still havent used it. I have an ordinary USB that I have encrypted and it contains all the wallet files and the private keys for my cold storage needs.
Backing up your private keys and storing them well is all you really need. I dont see the value of buying more than $100 for a hardware wallet.
Backing up your private keys and storing them well is all you really need. I dont see the value of buying more than $100 for a hardware wallet.
Great advice - I've been thinking about buying one of these too.
i would say paperwallet + Laminate or carve on steel + SafeBox , shock , fire , water proof
Paper wallets are quite safe but there is always the risk for example that you will have a keylogger trojaner or something like that on your computer that steals your input once you type it in to get acces - where a hardware wallet stores the keys encrypted in an enviroment that will never be exposed to such a risk when you acces your wallets.
Thanks, that really makes sense. I am avoiding Bitcoin core as I have issues with over 145 GB bandwidth and I am not sure if electrum is going to take that much of space or not. I was planning to use Trezor with the chrome extension and above-mentioned plan sounds perfect as 5% holding on the web wallets is not an issue at all.
Just FYI, Electrum is a SPV wallet, which means that you don't need to download the whole Blockchain before using it. You will probably be able to manage your coins instantly after downloading the wallet.What is a SPV wallet:
A Bitcoin implementation that does not verify everything, but instead relies on either connecting to a trusted node, or puts its faith in high difficulty as a proxy for proof of validity. BitCoinJ is an implementation of this mode.
I would still recommend you to just store your coins in Trezor. It is meant to be a hardware wallet that allows you to spend your coins in the day-by-day if you need to. And not necessarily to be a locked cold storage.
You still need a wallet like electrum that is compatible with the trezor in order for the trezor to ever be at a state where it is able to sign transactions. I'd suggest a web wallet only if the transaction fees are 0 (I'm not sure if there are still some wallets online that enable this but it means you bypass treansaction fees). These can exist by using the bitcoins you input as an investment to produce an income for themselves that's fairly stable (I'm not sure if there are wallets that still do this, coinbase used to).
Thanks, that really makes sense. I am avoiding Bitcoin core as I have issues with over 145 GB bandwidth and I am not sure if electrum is going to take that much of space or not. I was planning to use Trezor with the chrome extension and above-mentioned plan sounds perfect as 5% holding on the web wallets is not an issue at all.
Just FYI, Electrum is a SPV wallet, which means that you don't need to download the whole Blockchain before using it. You will probably be able to manage your coins instantly after downloading the wallet.What is a SPV wallet:
A Bitcoin implementation that does not verify everything, but instead relies on either connecting to a trusted node, or puts its faith in high difficulty as a proxy for proof of validity. BitCoinJ is an implementation of this mode.
I would still recommend you to just store your coins in Trezor. It is meant to be a hardware wallet that allows you to spend your coins in the day-by-day if you need to. And not necessarily to be a locked cold storage.
Hello Folks,
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
Ledger is said to be of a higher security than trezor, although, the trezor allows you to control it from the handset (but it has to be plugged into a computer). I don't know if the new ledger is any good (they have a touchscreen version they've just brought out), but the previous ones are said to have more altcoin support. However, it is said that the previous ones need you to uninstall one wallet to install the next one.
Paper wallets are quite secure (unless they're physically stolen) but they have to be poduced on a computer that will eventually touch the internet. You can try to use actual wallets like the bitcoin version of electrum and any altcoins that are made that copy a similar code and run that on a cheap/old offline computer.
If you're wanting to use the trezor or ledger, note that it will definitely fail at some point so you'll have to ensure you write down and store the seed somewhere safe (though, that's just 12-13 random words that need storing). If your trezor fails/breaks/gets stolen, these words are used to regenerate your wallet for you. I think you should be able to use the same seed across the different altcoins as they should all use BIP39.
Thanks for your thoughts, As I mentioned above, I have generated paper wallets securely for Bitcoin and altcoins and even maintained a backup in soft as well as in hard copies and kept in a secured place.
That makes less flexible when it comes to the spending Bitcoins, and as of now, I am using web wallets to make regular transactions which are not so secure as we know thus I think I will go with both the options.
Hodling Bitcoin and altcoins in paper wallets (which I mentioned above) for the longer period such as 5 to 10 years and using the Trezor wallet for storing Bitcoins for short term/regular transactions.
If I am not wrong then hodling coins in the paper wallet for the long term and hodling in Trezor wallet for the same term is almost similar. I have to keep paper wallet secure in the first option and seed/passphrase in another option for that period as I am not going to touch it in between.
Trezor would help me to work with similar characteristics as that of the paper wallet but in a more flexible way to mitigate the risk of hodling the funds on web wallets.
It might be an idea to store your day-to-day use coins on your actuall computer in a wallet such as electrum - instead or as well as the trezor (most likely, you'll be using electrum with the trezor anyway - though it has said not to be working with the latest versions of electrum).
Say you buy 10 bitcoins, you hodl 50% like you said onto your paper wallet, you hodl another 45% on your trezor, and then put the other 5% on the other wallet (either electrum or a web wallet) as 5% would be a reasonable amount of money you'd need. And you can keep on topping that up from the trezor if necessary.
Thanks, that really makes sense. I am avoiding Bitcoin core as I have issues with over 145 GB bandwidth and I am not sure if electrum is going to take that much of space or not. I was planning to use Trezor with the chrome extension and above-mentioned plan sounds perfect as 5% holding on the web wallets is not an issue at all.
Hello Folks,
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
Ledger is said to be of a higher security than trezor, although, the trezor allows you to control it from the handset (but it has to be plugged into a computer). I don't know if the new ledger is any good (they have a touchscreen version they've just brought out), but the previous ones are said to have more altcoin support. However, it is said that the previous ones need you to uninstall one wallet to install the next one.
Paper wallets are quite secure (unless they're physically stolen) but they have to be poduced on a computer that will eventually touch the internet. You can try to use actual wallets like the bitcoin version of electrum and any altcoins that are made that copy a similar code and run that on a cheap/old offline computer.
If you're wanting to use the trezor or ledger, note that it will definitely fail at some point so you'll have to ensure you write down and store the seed somewhere safe (though, that's just 12-13 random words that need storing). If your trezor fails/breaks/gets stolen, these words are used to regenerate your wallet for you. I think you should be able to use the same seed across the different altcoins as they should all use BIP39.
Thanks for your thoughts, As I mentioned above, I have generated paper wallets securely for Bitcoin and altcoins and even maintained a backup in soft as well as in hard copies and kept in a secured place.
That makes less flexible when it comes to the spending Bitcoins, and as of now, I am using web wallets to make regular transactions which are not so secure as we know thus I think I will go with both the options.
Hodling Bitcoin and altcoins in paper wallets (which I mentioned above) for the longer period such as 5 to 10 years and using the Trezor wallet for storing Bitcoins for short term/regular transactions.
If I am not wrong then hodling coins in the paper wallet for the long term and hodling in Trezor wallet for the same term is almost similar. I have to keep paper wallet secure in the first option and seed/passphrase in another option for that period as I am not going to touch it in between.
Trezor would help me to work with similar characteristics as that of the paper wallet but in a more flexible way to mitigate the risk of hodling the funds on web wallets.
It might be an idea to store your day-to-day use coins on your actuall computer in a wallet such as electrum - instead or as well as the trezor (most likely, you'll be using electrum with the trezor anyway - though it has said not to be working with the latest versions of electrum).
Say you buy 10 bitcoins, you hodl 50% like you said onto your paper wallet, you hodl another 45% on your trezor, and then put the other 5% on the other wallet (either electrum or a web wallet) as 5% would be a reasonable amount of money you'd need. And you can keep on topping that up from the trezor if necessary.
Hello Folks,
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
Ledger is said to be of a higher security than trezor, although, the trezor allows you to control it from the handset (but it has to be plugged into a computer). I don't know if the new ledger is any good (they have a touchscreen version they've just brought out), but the previous ones are said to have more altcoin support. However, it is said that the previous ones need you to uninstall one wallet to install the next one.
Paper wallets are quite secure (unless they're physically stolen) but they have to be poduced on a computer that will eventually touch the internet. You can try to use actual wallets like the bitcoin version of electrum and any altcoins that are made that copy a similar code and run that on a cheap/old offline computer.
If you're wanting to use the trezor or ledger, note that it will definitely fail at some point so you'll have to ensure you write down and store the seed somewhere safe (though, that's just 12-13 random words that need storing). If your trezor fails/breaks/gets stolen, these words are used to regenerate your wallet for you. I think you should be able to use the same seed across the different altcoins as they should all use BIP39.
Thanks for your thoughts, As I mentioned above, I have generated paper wallets securely for Bitcoin and altcoins and even maintained a backup in soft as well as in hard copies and kept in a secured place.
That makes less flexible when it comes to the spending Bitcoins, and as of now, I am using web wallets to make regular transactions which are not so secure as we know thus I think I will go with both the options.
Hodling Bitcoin and altcoins in paper wallets (which I mentioned above) for the longer period such as 5 to 10 years and using the Trezor wallet for storing Bitcoins for short term/regular transactions.
If I am not wrong then hodling coins in the paper wallet for the long term and hodling in Trezor wallet for the same term is almost similar. I have to keep paper wallet secure in the first option and seed/passphrase in another option for that period as I am not going to touch it in between.
Trezor would help me to work with similar characteristics as that of the paper wallet but in a more flexible way to mitigate the risk of hodling the funds on web wallets.
Hello Folks,
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
Ledger is said to be of a higher security than trezor, although, the trezor allows you to control it from the handset (but it has to be plugged into a computer). I don't know if the new ledger is any good (they have a touchscreen version they've just brought out), but the previous ones are said to have more altcoin support. However, it is said that the previous ones need you to uninstall one wallet to install the next one.
Paper wallets are quite secure (unless they're physically stolen) but they have to be poduced on a computer that will eventually touch the internet. You can try to use actual wallets like the bitcoin version of electrum and any altcoins that are made that copy a similar code and run that on a cheap/old offline computer.
If you're wanting to use the trezor or ledger, note that it will definitely fail at some point so you'll have to ensure you write down and store the seed somewhere safe (though, that's just 12-13 random words that need storing). If your trezor fails/breaks/gets stolen, these words are used to regenerate your wallet for you. I think you should be able to use the same seed across the different altcoins as they should all use BIP39.
Hello Folks,
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
I am looking to invest in some top alt coins along with my Bitcoin holding for the long term. I have stored my Bitcoins on paper wallet now but I would like to give a try to the Trezor wallet.
Can you please help me with my queries,
1) Assume, I am going to hold 50% and spend rest 50% of my cryptocurrency fund on a regular basis, so should I keep all the Bitcoins in a single trezor wallet and spend using that wallet? or should I move savings in the paper wallet?
2) Which is better? I am worried about Trezor's sustainability for years. I can keep paper safe but worried about the electronic device.
3) What if I lose my hardware wallet or if it is accidentally destroyed? Can I recover my funds using the PIN and recovery phrase?
4) What are the pros and cons of using a Trezor wallet?
5) Any other suggestions for a Trezor noob?
P.S - As I am looking to hold at least top 10 alt-coins, I have heard that Trezor has limited support whereas ledgerwallet supports more alt-coins. Please guide in this regard too.
Best,
Dudeperfect
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