Hardware Wallets Explained, Reviewed and Compared

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Stay safe 🙏🏻🙏🏻🙏🏻

Great vid man! Thank u! A never ending debate among Ledger users.....Some say you can put your crypto, any crypto, on your Ledger. I say your crypto is always on the blockchain it purtains to. The Ledger is only there to allow secure transactions and movement of your crypto. Therfore your crypto is not sitting in the device. I would love to have all my crypto sitting in the Ledger if this is possible. Your opinion?

question when all the bitcoin has been mined who does the work when all the miners have gone?

💝💝💝

Ledger is no better , their website is still hacked regularly and when you lose your life savings their automated costumer “help” will leave you high and dry..

Is seed phrase essentially another form of private key?

Really like this no brainer simplified explanation about hard wallets!💪

Unless the additional "passphrase" is always required, one would assume that the $5 wrench attackers would know that wallets have a dummy account function. However, if it's always required, you could plausibly say that it's your only account, and maybe they'd believe you.

Cant it be emulated by a flipper?

Ive skimmed over you're vids a few time. Glad I watched this one.

A great explanation. I was able to understand the hardware wallet concept in one video.

Does safepal is good hardware wallet?

It's safe to connect hardware wallet to laptop which is used to download torrents

The $5 wrench attack is my fav

Hi Nate, So, I'm surmising that I have to have a computer to plug my Trezor in to to do a transaction and that it's not really like a wallet that you take into a store and purchase items, right? Is there such a wallet that is like a credit card for crypto? Thank you!

Hey Nate, Great video, cheers mate!

Have you any opinion/perspective on Safepal Hardware wallets, or more to the point, the Safepal App that used to connect/scan the QR codes between the cold storage and their online application?

Some of the Google Play reviews about the App seem to throw up Red Flags - I didn't look at the reviews until after the device arrived yesterday.

Thoughts?? Thanks in advance!

@99bitcoins I'm searching for experts to brainstorm with me. I have never hesitated about the potential of crypto. But I have never invested in it for 1 reason: I believe that when it gets too successful, banks an governments will go to extremes to attack it as a legal payment method. Take the war between the EU and Russia as an example. There are financial sanctions, which Russia wants to bypass via crypto. The EU has now forced Binance to prevent Russians from trading crypto. And that worked. So your assets are not safe on Binance or any other online wallet. If governments can attack the Russians via the company that created the wallet or the ledger, they can also attack you and me. Imagine a panick on financial markets (inflation), and people running to bitcoin on a global scale. Which they will store on a ledger device. Governments/banks will attack ledger with regulation. But can they succeed? We store our crypto offline, but what is it worth when the company ledger is taken out of business via government regulation? I assume that for my ledger to work, and to accept the password, it depends on external software/hardware of the company ledger itself. When the company is taken down, so are our assets. Or am I wrong?

Thanks for a clear explanation

WHat if someone’s computer is infected with a virus and they connect their cold wallet to that computer?

Thank you 👍

God bless you

So the private key is generated by hardware wallet and interacts directly with the blockchain and the seed phrase is just a derivative of the private key?

So when a address is created on a blockchain with a designated password or key, i dont get to see the key but the ledger software does and masks it. So i basically have to thrust Ledger for example that they dont read the real key trough the software, store it and have access at any time or simply have the alledged randomly created seed phrase stored. Is that right?

Hi! If I transfer my crypto to a cold wallet while am in the red and wait until the market comes back, am I going to be in the green by then or does it stay in red until I transfer the crypto to an exchange? Thank you!

Years later and still so useful

Joe Grand managed to hack a Trezor hardware wallet with $2 million. Really interesting video!

Clicked the like half way through. Quality material.

Whats the diffrent on Hard wallet and cold wallet

I just bought a nano s plus. I know I can add as much crypto as I want
to this and daily if I wanted to but I was told I should only withdrawal
one time from a cold wallet back onto an exchange to sell the crypto and then the
cold wallet could be potentially compromised and should never be used
again. Is this true?

O.K., so many questions...forgve me for the dumb questions:
1) Are hardware wallets only for Bitcoin, or can any crypto be transferred to one?
2) How would I transfer my coins from, let's say, Webull, to a wallet? Is that even possible?
3) Once my altcoins are on the HW wallet, will they still be subject to market fluctuations?
4) How would transfer my coins off the hardware wallet & back onto an exchange, say Webull or Coinbase?
Thank You!!!

How can I get hardware wallet

Thanks man that’s what I wanted to know 😊

Fantastic video

Two questions. 1. If the hardware wallet you are using generates the seed phrase at setup could this not be exploited by the producers of the said wallet? 2. In view of question one, would it not be more secure if the user (and not the manufacturer) chose their own 24 word seed phrase using the BIP39 word list? Especially in the case of certain manufacturers such as Ledger who don't provide fully open source code. Personally, call me old fashioned but I still feel paper wallets produced offline using a dedicated PC and printer provide the best cold storage option. KISS

Someone tried to use the $5 wrench attack on me. I asked him to provide a receipt showing that the wrench was indeed $5 and when he turned around to reach his back pocket for it I pulled out my $6 wrench and domed him. Check and mate.

I have question,,,how many btc can fit in that wallet,??

Answered every single question I thought of. Even the last one awesome

I'm thinking anyone smart enough to know you have a hard wallet and what one is would also know that a Trezor can have dummy pin codes, for this reason, is it possible for 1 person to have more then 1 seed phrase in order to keep different cryptocurrency's in different accounts under different seed phrases?

Great video, thank you! Those bloopers were hilarious at the end too! Lmao! XD

I'm confused, sorry. If it's possible to reconstruct my private key out of the seed phrase - even without physical access to the hardware wallet ... Couldn't a hacker just string together 12 random words and see if he finds a wallet that fits the generated keys? It's unlikely that someone would be able to guess the seed phrase of one specific wallet, but it seems surprisingly easy to guess the seed phrase of a random wallet (that could just happen to be mine). Or am I missing something crucial? (Considering the amount of computing power people put into Bitcoin mining, "seed phrase mining" seems like a feasible attack vector...)

You explain everything incredibly well. Thumbs up!

Just wanted to say that was the best hardware wallet explanation video I've seen! Outstanding job on explanation and execution. I teach tracking and tracing Crypto and have seen a lot of videos get it all wrong. You video was spot on! Again, great job!

Give this man a pay rise... He explains everything so well.

Excellent explanation! Some videos take 40 minutes to accomplish the same thing with even less detail.

Hello… How long does it take to export your offline crypto coins from a “usb” wallet to another wallet or let’s say to make it online again?

Very clearly explained and the visual aspect of the video also helps a lot. Great video.

7m18s "should be configured randomly.".. By me or the device? I'm confused. Do I choose the phrases or not? If the device chooses for me, how do I know manufacturer doesn't track that choice before sending. This also seems preconfigured to me. Thanks for posting!

Thankyou!

Im so confused.