Topic: Which hardware wallet to buy? - page 7. (Read 1404 times)
Think I am going to go for the Nano S Plus - have watched a few review videos on it and sounds very good for crypto storage. I will only use it when plugged into a laptop so don’t need the Nano X, many say it is not worth the extra £70 as the Nano S plus does everything you need it to do.
I have an Iphone and have read the Ledger Nano S only supports Android so looks like I will need the Nano X?
I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
Then Ledger Nano S won't be an option for you. Most of us owners of Nano S are just accessing it through PC/Laptop via Ledger live and that update of connecting it to an android phone was likely their most recent update for an S version.I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
For the Nano X, it got some issues that have been found and I don't know if they're already fix. Still do some research towards it before buying.
I am leaning towards the Nano S plus but was just thinking I have a Chromebook , am I able to connect the ledger to this or does it have to be a different kind of laptop?
As long as it has a USB port then you can connect the S there and also you need to download Ledger Live on the Chromebook or any device(desktop/laptop) you use.
I am leaning towards the Nano S plus but was just thinking I have a Chromebook , am I able to connect the ledger to this or does it have to be a different kind of laptop?
Good to see you care about your assets. Storing your crypto on a centralized exchange or custodial wallet is highly risky. I have been using Ledger Nano X for Storing my cryptos. I haven't found any issue yet and it's user-friendly to use. I haven't used Trezor so no idea how it has been working. You may choose any from Ledger or Trezor. Both are the most popular on the market right now.
Remember, buying hardware wallets doesn't mean your crypto is safe unless you secure your seed phrase. It's more important than buying a device. Lossing or compromising your seed phrase means potentially you lost your assets, no matter which wallets you have been using. Write your seed on multiple pieces of paper and keep it in safe places. So you will have multiple backups. Also, maintain a handwritten note book to secure your wallet credentials.
Remember, buying hardware wallets doesn't mean your crypto is safe unless you secure your seed phrase. It's more important than buying a device. Lossing or compromising your seed phrase means potentially you lost your assets, no matter which wallets you have been using. Write your seed on multiple pieces of paper and keep it in safe places. So you will have multiple backups. Also, maintain a handwritten note book to secure your wallet credentials.
By Cold wallet, I guess you mean hardware wallet. Am I Right?
Note that a cold wallet doesn't necessarily have to be a hardware wallet. Any wallet created on an air-gapped device is also considered as a cold wallet.
If you want to to buy a hardware wallet, I recommend you to go for an open-source hardware wallet. Trezor is the most popular one.
I think the topic created by dkbit98 should be helpful to you.
[ LIST] Open Source Hardware Wallets
Note that a cold wallet doesn't necessarily have to be a hardware wallet. Any wallet created on an air-gapped device is also considered as a cold wallet.
If you want to to buy a hardware wallet, I recommend you to go for an open-source hardware wallet. Trezor is the most popular one.
I think the topic created by dkbit98 should be helpful to you.
[ LIST] Open Source Hardware Wallets
Yes hardware wallet , like I said above I am new to all this
How likely is it that Coinbase could get into trouble one day?
It can happen at any moment and you need to be mentally prepared for it. Better yet, prepare financially and withdraw all your crypto from there as soon as possible. Would also be interesting to hear who is for and against using cold wallets and the reason why?
For start, don't use any centralized exchanges for storing and holding your coins, they should be used only for trading.You can use some good old laptop and dedicate it only for usage of Bitcoin and crypto related, installing wallet, etc, that is good second step.
After that you can think about hardware wallets, but I would only suggest open source and reliable devices.
Best for your case is Trezor (use it with pasdsphrase), Bitbox or Keystone hardware wallet.
Will these all be ok to store on Ledge S plus?
Purchasing hardware wallet for storing shitcoins is like you are using a vault to store bunch of bananas 
I would never suggest ledger devices to anyone, they have closed source firmware, lot of issues with their firmare, display, and model X with batteries.
Ledger also have a habit of discontinuing their products a lot, and stop supporting them after few years.
First person I have seen who is against ledger, interesting.
I am a beginner and don’t want anything too complicated that is all I ask. Just somewhere I can store the crypto I purchase safely.
Would also be interesting to hear who is for and against using cold wallets and the reason why?
For start, don't use any centralized exchanges for storing and holding your coins, they should be used only for trading.You can use some good old laptop and dedicate it only for usage of Bitcoin and crypto related, installing wallet, etc, that is good second step.
After that you can think about hardware wallets, but I would only suggest open source and reliable devices.
Best for your case is Trezor (use it with pasdsphrase), Bitbox or Keystone hardware wallet.
Will these all be ok to store on Ledge S plus?
Purchasing hardware wallet for storing shitcoins is like you are using a vault to store bunch of bananas I would never suggest ledger devices to anyone, they have closed source firmware, lot of issues with their firmare, display, and model X with batteries.
Ledger also have a habit of discontinuing their products a lot, and stop supporting them after few years.
I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
Can you list them here? It might be that some are tokens on other networks (like erc20 for ethereum).
What wasn't mentioned above was that if you do want to move your coins to an exchange from a wallet (particularly bitcoin) you might end up waiting an hour or two for the transaction to confirm - that might not be long but it might be worth remembering.
I have just watched a few comparison videos on the different ledgers available and I am leaning towards the Nano S plus. Yes the nano X has bluetooth but don't feel I need it.
This is my list:
Bitcoin
Quant
Algorand
Cronos
Decentraland
Gala
Polygon
Enjin
Shiba Inu
LCX
Will these all be ok to store on Ledge S plus?
I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
Can you list them here? It might be that some are tokens on other networks (like erc20 for ethereum).
What wasn't mentioned above was that if you do want to move your coins to an exchange from a wallet (particularly bitcoin) you might end up waiting an hour or two for the transaction to confirm - that might not be long but it might be worth remembering.
I have an Iphone and have read the Ledger Nano S only supports Android so looks like I will need the Nano X?
I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
Currently, most of the hardware wallets do not support IOS devices except on MacBooks or any MacOS devices.
Do you have other devices like laptops or a PC? Hardware wallets like ledger nano mostly support Windows OS and Android OS but not in IOS devices.
Only safepal s1 and ellipal hardware wallets that I know support IOS devices but these are not well-known HW wallets, unlike Ledger and Trezor.
I have a laptop but have mainly used my phone up till now with crypto. Is it not convenient being able to use Iphone or do you just get used to using laptop?
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You can verify beforehand if Ledger is going to support those 10 different coins/tokens you mention here: https://www.ledger.com/supported-crypto-assets/coin
I have just typed in the 10 cryptos I hold and only Algorand showed - does this mean I will not be able to store the other 9?
I have an Iphone and have read the Ledger Nano S only supports Android so looks like I will need the Nano X?
I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
Currently, most of the hardware wallets do not support IOS devices except on MacBooks or any MacOS devices.
Do you have other devices like laptops or a PC? Hardware wallets like ledger nano mostly support Windows OS and Android OS but not in IOS devices.
Only safepal s1 and ellipal hardware wallets that I know support IOS devices but these are not well-known HW wallets, unlike Ledger and Trezor.
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It seems so, if we look at the following comparison chart, where Ledger Nano X connected via Bluetooth seems to be the solution for IOS (apparently, IOS 9 or above).You can verify beforehand if Ledger is going to support those 10 different coins/tokens you mention here: https://www.ledger.com/supported-crypto-assets/coin
Even if you were able to use Ledger Nano S with your topology, you could still support having hundreds of different coins/tokens custodied by the device, but likely needing to play the remove and add app game to manage them. The said game is not necessary on the other Ledger devices (they support around 100 different apps), due to their larger capacity.
I have just been looking at the different ledgers available.
They range from £55 to £155. - are the cheaper ones good or is it better to spend more on the expensive ones? This is something I plan to have for a long time after all.
I would like something that is easy to transfer my crypto to and from exchanges with less hassle as possible.
The Ledger S still works perfectly for me. Read on the subreddit of Ledger for you to have an idea of what current problems have the more expensive ones which is the Ledger X: https://www.reddit.com/r/ledgerwallet/They range from £55 to £155. - are the cheaper ones good or is it better to spend more on the expensive ones? This is something I plan to have for a long time after all.
I would like something that is easy to transfer my crypto to and from exchanges with less hassle as possible.
The subreddit: /r/ledger is the older version and there's a pinned post there that everyone should go to the /r/ledgerwallet.
And while you're thinking of what you must buy, move your assets out of the exchanges as soon as possible. You'll never know when those exchanges will do an unexpected halting of withdrawals and transactions. That's a thing today in the news if you're following it.
I have an Iphone and have read the Ledger Nano S only supports Android so looks like I will need the Nano X?
I also am invested in 10 different crypto not just 1 or 2, does that also mean I need the Nano X?
Is a hardware wallet a must? Or is leaving my crypto all on Coinbase OK?
Hardware wallet is not a must if you technically know what to do to keep your funds safe.
Keeping them on exchange is usually not a good idea: their policy may chance, they can get hacked or go bankrupt and so on. People keep telling: not your keys, not your coins.
3k pounds is, however, not a life changing amount (or maybe not yet) and I can understand that you may not want to invest more, especially now with the bear market. Plus the exchange will get a withdrawal fee off you.
However, on long term you have to find a safe way for storing your coins. Good luck in finding the best solution for you. As many said, it may be that this solution is a cheap hardware wallet.
I have just been looking at the different ledgers available.
They range from £55 to £155. - are the cheaper ones good or is it better to spend more on the expensive ones? This is something I plan to have for a long time after all.
I would like something that is easy to transfer my crypto to and from exchanges with less hassle as possible.
The Ledger S still works perfectly for me. Read on the subreddit of Ledger for you to have an idea of what current problems have the more expensive ones which is the Ledger X: https://www.reddit.com/r/ledgerwallet/They range from £55 to £155. - are the cheaper ones good or is it better to spend more on the expensive ones? This is something I plan to have for a long time after all.
I would like something that is easy to transfer my crypto to and from exchanges with less hassle as possible.
The subreddit: /r/ledger is the older version and there's a pinned post there that everyone should go to the /r/ledgerwallet.
And while you're thinking of what you must buy, move your assets out of the exchanges as soon as possible. You'll never know when those exchanges will do an unexpected halting of withdrawals and transactions. That's a thing today in the news if you're following it.
I have just been looking at the different ledgers available.
They range from £55 to £155. - are the cheaper ones good or is it better to spend more on the expensive ones? This is something I plan to have for a long time after all.
I would like something that is easy to transfer my crypto to and from exchanges with less hassle as possible.
They range from £55 to £155. - are the cheaper ones good or is it better to spend more on the expensive ones? This is something I plan to have for a long time after all.
I would like something that is easy to transfer my crypto to and from exchanges with less hassle as possible.
Cold storage is a way to ensure the security of your coins if you have basic experience of how to do it and it is almost free.
if you do not know how to do cold storage you may put your coins at risk.
Since you are a beginner and you have the money, I suggest you buy a hardware wallet, it is true that it costs a few dollars, but it gives you high security and requires you to take reasonable care, such as not sharing the seeds with anyone, make sure that you bought the product from the company and that it is not counterfeit, make sure that you generated Fresh seeds and that your computer does not have viruses or is physically connected to another device (this includes USB, etc.)
if you do not know how to do cold storage you may put your coins at risk.
Since you are a beginner and you have the money, I suggest you buy a hardware wallet, it is true that it costs a few dollars, but it gives you high security and requires you to take reasonable care, such as not sharing the seeds with anyone, make sure that you bought the product from the company and that it is not counterfeit, make sure that you generated Fresh seeds and that your computer does not have viruses or is physically connected to another device (this includes USB, etc.)
I have £3,000 on coinbase so its getting to a stage where I feel I need to move this over to something more secure.
Your feeling is right. It's not secure to keep your coins on an exchange. I am just totally new to this so would just like an easy to use wallet that isn't too complicated.
You can also use electrum. It's open-source and give you full control over your fund. (Download electrum only from its official website and do not forget to verify your download.)
Note that electrum only supports bitcoin and if don't create your wallet on an air-gapped device, it wouldn't be as secure as a hardware wallet.
For 100% security, you should use electrum on an air-gapped device or as already said, use a hardware wallet.
I have a question, if I was to move my crypto off of Coinbase and onto a hardware wallet - what if the price of a crypto I hold shoots up and I want to cash out profits?
Then you will have to a make transaction and move your coins to an exchange.
I have £3,000 on coinbase so its getting to a stage where I feel I need to move this over to something more secure.
I am just totally new to this so would just like an easy to use wallet that isn't too complicated.
I have a question, if I was to move my crypto off of Coinbase and onto a hardware wallet - what if the price of a crypto I hold shoots up and I want to cash out profits?
How easy is it to trade when your crypto is not on an exchange but in a wallet of some kind?
I am just totally new to this so would just like an easy to use wallet that isn't too complicated.
I have a question, if I was to move my crypto off of Coinbase and onto a hardware wallet - what if the price of a crypto I hold shoots up and I want to cash out profits?
How easy is it to trade when your crypto is not on an exchange but in a wallet of some kind?
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