Now, todays video may be a little controversial as I have never heard anyone come out with this opinion on Bitcoin hardware wallets. But hey, it's my opinion. I think hardware wallets for cryptocurrencies are scams. And in todays vlog I talk about why. Release the trolls!
Enjoy!
Maybe they are not scams but I don't like them.
Tre gone say what he wanna say......
Wrong. If you are storing more than a few thousand dollars in crypto assets, they are definitely the smartest way to keep your keys safe.
A hardware wallet simply stores your private keys on a secure hardware device. Unless you are keeping the only copy of your private key on a piece of paper. Nothing is more secure.
The whole point is the private keys don't leave the device.
They are immune to viruses or anything along those lines. The keys can not be removed from the secure element. Even if you use a paper wallet to keep your private keys, you have to import them into software at some point.
Even if you break your hardware wallet, and you have the key phrase you are completely secure. You lost your money because you failed to have a recovery method. Keeping your BTC on your offline computer
They are not a scam...
Your also not including the fact that at least for the trezor, it has an on board real random number generator chip. This ensures that the signatures do not expose your private keys. Most software uses a psudo random number generator, which has caused many people to lose coins and causes people to generate keys that sometimes already have crypto on it! To date no one has hacked the coins from a Trezor device when used properly. It offers more redundancy then a simple paper wallet as well, especially if you use a safe deposit box.
Well yeah mostly.
There is no such thing as a real random number generator.
Followed ya. You know what your talking about. Need more of that on steem.
So following this logic wouldn't it be just as fair to say, "I lost my bitcoin private key - bitcoin is a scam." -
They are not a scam.
I was recently wondering about purchasing one for me and I asked myself the same question "What if it breaks or becomes outdated". Thank you for the video, I will have what to think on even more! :)
If it breaks you can get another one and restore it with your personal passcode and seeds.
Thanks for the heads up!
Been thinking about getting a hardware wallet recently. I'll give it more thought
Hardware wallets are the best /sarc😂😂😂
Sorry dude...don't agree with this one AT ALL.
I believe the safest way to keep your private keys safe are in a hardware wallet where even you don't know them.
Even if your laptop/PC is infected with malware, my understanding is that the wallets are supposed to protect your private key info because they're stored on the wallets themselves and not copied or cached to the laptop/PC when you're making a transaction.
Just in time as I was just thinking about buying one. But you made it clear I don't need it. You are a moneysaver!
Thanks for clearing that up. No need to be paying extra for a false sense of security, especially when a paper wallet serves the same purpose. I had been going back and forth about it but you just convinced me to go the paper route and just secure my codes.
Yes, you are controversial!!! But thats what i like and that why i follow you!!. Keep posting from your heart and mind.
Controversy without logic is not what you should be looking for.
Now I'm confused should I buy a hard wallet or not??
If you have a significant investment in crypto.
Thats true!!
Mind Blown
I'm usually using an online wallet, because the hard wallet is expensive and I prefer to invest in crypto
Well that is very insecure.
expensive to compared to what? compared to the amount of cryptos you own? kinda shooting yourself in the foot with that reply.
Agreeded about the hardware wallets tre and good analogy about the vca cords 😝 "Can't find one anywhere".
Wow that's crazy. Glad I never went through with getting a hardware wallet
I am glad to here someone in your position ask all the same questions I have about hardware wallets !
Frankly I'm not even sure what a hardware wallet is, so I'm not really worried about it, I'm not about to use something I don't even know what it is, and with this video I don't want to know what it is.
Hardware wallets for <$2000 of BTC is probably not worth it but if you are using more i think you should use 2nd level security tier like hardware wallet.
Store BTC in the Da Cloud ~ i agree with trev too!
a rising tide lifts all boats
THANKGOD. i was going to buy one to store my future investments.
Watching and learning. Thank you for this information!
i don't understand the prophesy or your hieroglyphic shirt? does it mean Tre will be a millionaire in 2018?? ;) BTC: 1EVSwPE3J5KJLBuYZ6jzqRzscPSL21QCMa
Electrum and paper wallets!! Just gotta hold those keys thas right! looks like you saw a hot girl on the side of the road at the end of that vid lol
or a naked man.
Yeah, I see. If it gets broken, that will be a problem.
Totally agree.. hardware wallets are pure scams... best alternative option would be a paper wallet...
blockchain.info itself has gone down .
Wow, i see so many different opinions on this matter... Really have to dig deeper...
I see both sides of the argument.... currently most exchanges you have to use their wallet... but if your holding... then you want viruses and hackers to not be able to get your keys... but if your in a hardware wallet ... you cannot back it up if its keys are completely locked inside.. if you can get the key then you can also do without it... if it breaks your out of luck... when they get out dated you can just get a new one though... really its about keeping your keys out of reach... a lot of peoples computers are just to vulnerable to loosing them... personally most of my keys I store in my encrypted password manager... with a few offline... if I was going to hold or privately trade a large amount then I'd probably get a hardware wallet or invent one that works they way they should... where I can recover it but only I can... and where if it breaks or gets old im good... and i rarely pull the key off it... let the wallet send the transactions.. but yeah most hardware wallets are a slight bit of a scam
I always use online wallets just because hardware wallets cost a good bit and even though they are offline I'd rather be able to quickly trade using an online wallet.
I've had my ledger wallet since last year and have sold a couple as well. This gives me the security that I have the funds available with me and that no one can hack it by any means nor do I have to rely on some other method. I personally love it and I recommend them as well. The ledger blue also uses bluetooth technology.
If you're interested, buy yours here: https://www.ledgerwallet.com/r/efb3
Please upvote,reply,resteem and follow @victorvazco , thank you for being awesome!
@trevonjb another banger ,great vlog video. Keep it fresh. 😉
P.s i wondering why these guys coment straight away after your post upload. that means ,they even doesnt seen the video ,haha 😀😀 show some respect .
yo im a youtube follower. Good steemit q and a. ill upvote your stuff
I don't think they're a scam. I do think that the design of them could use some work and people's understanding of them and how to use them definitely needs some work.
Very interesting. I'm just going to keep all my BTC and other cryptos diversified on hardware and online wallets
Just heard somebody who purchased one. I Am not realy fond of it i got to say. Have a bit of the feeling like with carkeys.. where Did i leave my carkeys again? Just 5 minutes ago I left them on the table.. or didn't I??
GOOOD OLEEEEEEEE INTANGIBLE COIN TALK! :)
Makes my day! lol
Some good points, some bad ones. Nice video anyways :)
Lol gotta make sure you are wearing deodorant for your Video!!! Can't wait to learn more!
I love your post! Good job! Please follow me @martinst
Daaaamn. Tre went there! :)
To your point on if you drop your ledger in water or if usb's are not available in 10 years, as long as you have your seed you can recover your coins.
You can enter your seed into a Bip39 Mnemonic Code Converter which will generate all private and public keys along with addresses where you can then check for the balance of your coins. And then import the private keys into any wallet of your choosing.
Dude, are you trolling?
useful info
Says the guy who lost 3 BTC due to negligence.
Wait a minute@trevonjb....What about the wallets on your phone. Are they even safe ??
@trevonjb I agree completely with you. Nice contente!
hey bro good info
i like your post, thanks for sharing
Thank you for your opinion, definitely something to consider!