How many times did I say hardware wallet in this video? Too many, those words sound weird to me now haha

@NWforager

Жыл бұрын

almost 30 times. Now can we click heels together and go back before UST unpegged? 👠👠

@adamventure

Жыл бұрын

@@NWforager sounds about right I have its 31 times in my script! I'm down, let me grab my ruby slippers

@stevenffarah

Жыл бұрын

15

@graceandpanic9281

Жыл бұрын

Taxes? Am I wrong to think hardware wallets provide anonymity? They (gov) don’t know who or where the transactions came from. I can make transactions anywhere on the planet and remain anonymous. No?

@adamventure

Жыл бұрын

@@graceandpanic9281 they definitely do, but its not limited to hardware wallets. Crypto in general has anonymity as long as you have good hygiene with your addresses

Im so sick and tired of these hardware wallets. Every year for the last 5 years at around tax return time I consistently loose my wallet when I go out to international waters. Such a pain. They need to make these less loseable

@adamventure

Жыл бұрын

Lmao you had me in the first half - funny stuff!

@Burger0649

Жыл бұрын

🤣

@MsMelody

Жыл бұрын

Hillarious!

@Kamilmiarka

Жыл бұрын

Best comment of 2022

@t-birdmr.t7980

Жыл бұрын

sorry buddy. Hope you feel well after your boating accident. Get well

A VERY important advice to give to newcomers, is to always but always buy your hardware wallets from their official store, not from any 3rd party sellers like ebay or amazon, since they are most likely to have malicious software and or their security breached in a way or form to gain access to funds. Happens all the time.

@adamventure

11 ай бұрын

Yes be very careful of this! If it comes with a seed phrase its fake and/or compromised

you should mention a great tip: always do a first transfer with a minimum amount

@MatthewMcmullen-eh6ns

Жыл бұрын

I second this. Seriously great advice.

@thanevakarian9762

Жыл бұрын

100%

@Nahyoutrippin

9 ай бұрын

Biggest fact

@coomcake

5 ай бұрын

I've always done this even in the stone age. Better to lose $3 than $100k on a goof.

@tarrandavis2207

4 ай бұрын

I was just thinking of that a nice test run to see if they take the bait

Great video! Good job answering the most common questions, loves it😻🔒

Great educational video. Since the Ledger debacle I use Keystone.

@adamventure

4 ай бұрын

Awesome I'm glad this was helpful! Yeah that's totally fair

Fantastic video! In fact it answered many questions which I had in my mind for a long time. Thanks 🙏

@adamventure

Жыл бұрын

You're very welcome I'm glad it helped clarify things!

Thanks for sharing such great information 😊

Think you covered the most common questions, format and answers were great, well done

@adamventure

Жыл бұрын

Thank you I'm glad this was helpful and you liked the format!

I was looking for a while for a video to cover all questions I am getting from my friends. Glad I found it now :)

Good job Adam! Liked & Subscribed !

@adamventure

Жыл бұрын

Thank you Anthony glad to have you on board!

simple, easy to understand and entertaining, got my vote

@adamventure

Жыл бұрын

Thank you I appreciate that! Glad it was helpful

Good video. But you forgot one important thing. Hardware wallets are not necesarry for everyone. For example, a wallet costs $100 and you have like $100-300 in crypto for trying and small deals. In this case there is no point buying a hardware wallet, just use software like Electrum, Sparrow wallet, Trust wallet etc.

@adamventure

Жыл бұрын

Thank you! And that's fair, I mention the prices in all my hardware wallet review. But its not my place definitively tell people what's "worth it" since that a personal decision. For some folks it might be worth the peace of mind even if your crypto holding is less than the cost of the device

@froggyfr1972

Жыл бұрын

duh

Thanks for this it was really helpful

That's really detailed for newbies! Would love to see more explanations

@adamventure

Жыл бұрын

That's totally fair and I appreciate the feedback! For this to make sense it would be helpful to have an understanding of the absolute crypto basics. Which is why I'm working on that video right now!

Great video and information thank you.

@adamventure

Жыл бұрын

Thank you for the kind words! And you're welcome

Awesome video. Very informative.

@adamventure

Жыл бұрын

Thank you I'm glad it was helpful!

Keep it coming bro, just getting into crypto... need all the information i can get... Cheers

@adamventure

Жыл бұрын

You got it man, more of these are on the way!

Where do you recommend we keep our seed phrases? Like the physical paper? In a safe? Do you have any digital backup with them?

@adamventure

Жыл бұрын

There's a couple metal seed phrase cases that are very solid, here's the one I have: adamventure.link/metalseedphrase. You can keep it on that inside a safe or drawer inside a secure physical location (hopefully your home). There are options to store it digitally but these can open you up to hacks, like potentially what happened with LastPass. I have a digital copy encrypted and encoded but I don't recommend doing this unless you really know what you're doing (I do because I'm in software/technical architecture)

If your worried about hardware wallet companies going out of business/not being able to obtain a new ledger to restore, cryptos like ADA, ALGO, NEAR and possibly more won't be possible to restore onto a different wallet as it uses different paths/code from your recovery phrase. just keep an eye out on that!

@BIT-cp2ki

9 ай бұрын

What do you mean you will not be able to recover them? The wallet is just tool to acces them, it is not storing them

Great work! Thank you

@adamventure

Жыл бұрын

You're welcome, I appreciate it!

This channel is freaking awesome!

@adamventure

Жыл бұрын

Thank you again Ross! Glad you're still enjoying the content

Thanks for taking the time to create this informative video. 🚀

@adamventure

Жыл бұрын

You got it!

Another question. Might be a bit silly, but I’m still trying to get my head around the hardware devices. Is it possible to get the seed phrase that the device generates? If so is it shown on the hardware device or through the software (eg ledger live)? I asume that if it is through the software that would compromise the seed phrase.

@adamventure

Жыл бұрын

Great question, and your intuition is correct - no you cannot recover the seed phrase after you set it up. It also tells you this a couple times during the setup process

Hello Adam! Would you please make a separate video on what to do with your Seed Phrase? In other words, do you encode it? Does it go in a safe? Do you use manual encryption keys such as a spy does with a one-time pad and checkerboard? And where do you store that secret document(s)? If memorized and you have a stroke, then what?

@adamventure

Жыл бұрын

Hey I can add that to the list! That's kind of up to you and what you have available, and how much you have to work with. I generally recommend a metal seed phrase case like this one: adamventure.link/metalseedphrase. Stick that in a safe place and that will be good for most people. You could also look into storing it electronically but if you're not tech savvy might be more risky

@wallstreettrader1

Жыл бұрын

@@adamventure Thank you for adding that to your informative future presentations! For now, I'll improvise. Happy weekend! -Erik

Thank u very much for these valuebale information

@adamventure

Жыл бұрын

You're very welcome I'm glad it was helpful! PS - I removed 2 fake accounts that responded to you, please don't reach out to them. I will never ask that!

Thank you so much for the video. I have a question. I have my BTC and alt coins paired with BUSD. Does Ledger accept BUSD?And in case Binace collaps, will i lose my BTC and alt coins paired w BUSD? In this case , is it better to change busd to usdt? Do i lose anything by doing that? And also can i buy or sell cripto in a hardware wallet?

@adamventure

Жыл бұрын

You got it! If your crypto is on any exchange and it collapses then yes you will lose it. When you say paired, do you mean you used the currency pair BTC/BUSD on Binance to purchase it? If yes then its not actually "paired" in the sense that its price connected, it just means thats what you used to buy it. And 1 BTC will always = 1 BTC

Thanks for the good info sir.

@adamventure

Жыл бұрын

You got it! Glad its helpful

Hi Adam, New to your channel and just subscribed. Great video! Curious, are you familiar with the BC Vault wallet? If so, what are your thoughts?

@adamventure

Жыл бұрын

Hey JJ, thank you for the kind words and glad to have you on board! I'm a little familiar, I personally don't have one but I've researched them before. Seems like a decent device for holding the larger cap crypto, but they don't support as many blockchains as some other (like Cosmos). They also doesn't connect with as many wallets like MetaMask, Phantom/Solflare, Keplr etc. That's where it really loses points in my opinion. Hope that helps!

@Jester33347

Жыл бұрын

@@adamventure Thanks! I’m pretty much only interested in BTC so the limited crypto options are perfect for me. I love the unique security features but am somewhat nervous about what would happen if they went out of business. There’s no seed phrase so I could end up in big trouble. Thoughts?

@adamventure

Жыл бұрын

@@Jester33347 ah I missed that they don't use a seed phrase. In that case it looks like you'd be out of luck if they went out of business, which is another red flag for me

@Jester33347

Жыл бұрын

@@adamventure thanks… I may need to start looking at something else with a seed phrase. I’ve been apprehensive due to the storage and remembering of the words. I know there are metal ways to back them up but don’t have the best memory. Haha

@adamventure

Жыл бұрын

@@Jester33347 yeah its definitely not ideal, but its kind of a necessary evil. For the metal case I like the one from Keystone: adamventure.link/metalseedphrase

Very informative thanks

how long will flash last on the ledger or trezor?

When say for example I have etherium and luna classic in my nano s ledger device, when those 2 coins rise and dip , will my ledger nano s follow the market movement ???? Please kindly advise

@adamventure

Жыл бұрын

So don't think of it in terms of USD, think of it as the coin amount. 1 ETH will always 1 ETH, and you can send that to any exchange to get the USD equivalent value of it. But short answer is yes

how do i set up my wallets like you? with a ledger nano x as primary, nano s as secondary etc. ? thanks

@adamventure

Жыл бұрын

You just create a wallet on one, make sure you keep that seed phrase safe, and restore the second device using the same seed phrase. Here's an in depth tutorial: kzread.info/dash/bejne/Zmio06luqsTJkco.html

Thanks Adam!

I have a question. In getting familiar with my cold wallet I transferred a test amount in to it no problems but then tried to send it to another address but after a week it hasn't arrived but gone from hardware wallet. Appreciate any feedback

@adamventure

Жыл бұрын

Smart move with the test transactions! That's odd, can you see the transaction on the blockchain explorer? Make sure it actually sent (and approved it on the physical device) and that it went to the right address

Great Video, So I got a Ledger nano X, set it up, downloaded the Ledger Live app on my computer, created the seed phase, but got paranoid about where i downloaded the ledger live app from. I haven't put any crypto on it yet. So I uninstalled the ledger live app from my computer and havent re-installed it yet. My question is, when i do reinstall it, how do I create a new seed phase? Is that something I can do from the hardware wallet itself without the Ledger Live app even being re-installed? or do I need to reinstall the app first? Thanks!

@adamventure

Жыл бұрын

Thank you! You can reset the device and regenerate a new one without Ledger Live, I actually show how to do this in my Ledger Nano X setup guide

@hooekoo9307

Жыл бұрын

@@adamventure thanks again, I’ll check it out!

@JunkBondTrader

Жыл бұрын

@@hooekoo9307 also the proper web URL should be in the instructions/manual somewhere.

3:48 - you don't need your private key for seeing the amount of funds on a wallet though, the public address is sufficient

@adamventure

Жыл бұрын

Yeah the private key is for sending/moving your funds, you only need the public address (key) for viewing a wallet and receiving funds. Hope that clarifies things!

Im confused. If my crypto is on the blockchain and my seedphrase gives me access to my keys whenever I enter it into a hardware wallet. That means I dont need a hardware wallet untill I want to transfer my crypto right?

@adamventure

Жыл бұрын

You got it, that's exactly right!

Hey keep up the good work..i purshased a Ledger and installed it correctely but i am having bluethoot issue not being able to connect the phone app to the ledger. Any suggestions ?

@adamventure

Жыл бұрын

Thank you I'm glad its helpful! Yeah I've ran into those issues. You might need to reset/forget the bluetooth settings on both the Ledger and the phone, and restart both

Appreciate you doing these videos. Very helpful. 👍🏻

@adamventure

Жыл бұрын

For sure I'm glad they are helpful! More on the way

2 thumbs up , very helpful

@adamventure

Жыл бұрын

Awesome glad to hear it!

if you accept a contract for example to allow a platform to use your usdc, can they drain your wallet after that if you are using metamask with hw?

@adamventure

Жыл бұрын

Yeah that's what I warned about in the last point - if you connect to something that contains malicious code, then nothing can protect you unfortunately from that which is why you don't connect to random websites

I connected metamask to my ledger wallet is it good or bad? Because i couldn't find all the coins on the ledger(not supported by ledger). Thank you

@klingklangklong1719

Жыл бұрын

It's okey 😅 don't worry.

But you do know Ledger allows you to view your holdings through the ledger live feature on your phone through the app, right?

@adamventure

Жыл бұрын

Yes you can see them on Ledger Live! Just not on the physical device itself

But in order to use your hardware wallet don't you need to fire up your PC, or mobile phone and start a installed program on the PC or phone app? At that point, where is your wallet? On the PC, phone or still on your stick? Don't you have to enter passwords in the PC or mobile phone app as well? Could you technically say the wallet is actually on your PC/Phone but doesn't hold keys. You USB stick hardware isn't a wallet but holds your keys that is to be connected to your wallet installed in your phone or PC.

@adamventure

Жыл бұрын

Yeah you need those as a "front end" to your hardware wallet. And "wallet" can mean many things in crypto. Your assets are stored on the blockchain, but the keys to your assets are stored on the device

Once I have transferred my crypto to hardware wallet, can I sell it there or do I have to transfer in back to the exchange before selling? This will mean fees once again.

But why do you need hardware wallet if you can install trust or metamask wallet on your mobile device?

Very interesting video thanks

@adamventure

Жыл бұрын

I'm glad it was helpful, you're welcome!

Fantastic explanation

@adamventure

Жыл бұрын

Awesome I'm glad you enjoyed it!

Thanks for this video

@adamventure

Жыл бұрын

You got it!

You are funny I just subscribed. Gr8 content btw

@adamventure

Жыл бұрын

Haha thank you I try to keep it entertaining where I can! Appreciate the support

Hi, if you do put your crypto on a hardware ( ledger) does that mean it’s no longer been traded and you must manually put it back on an exchange if you decide to trade, how does it work?

@adamventure

9 ай бұрын

Yes exactly. You can still trade on decentralized exchanges but those come with additional fees

I've been around KZread for 15y now. Best subscribe pitch by far 🔥

@adamventure

Жыл бұрын

Haha thank you I'm glad you liked it! I worked real hard on it

What about using metamask then ledger with it ? Or is ledger safer on its own?

@adamventure

Жыл бұрын

Yes you can! Check this video out: kzread.info/dash/bejne/dWdh1txpdLSThsY.html

I sent crypto to me D’CENT wallet. ISO coins went fine but I have yet to see my harmony one or rsr show up on my D’CENT app. I checked the sent address and it matches. Where did it go?

@adamventure

Жыл бұрын

Where did you send from, was it native ONE and RSR or just a token? Also Harmony addresses have their own format (one....) that you might need to translate from the EVM format (0x....) so that could have something to do with it

Love the info, but, I highly disagree with having multiple hardware wallets for the same wallet. A general rule of thumb for me is 'absolutely ANY time that requires me to use my seed phrase to load it on any other wallet, it's a vulnerable seed phrase'. Write down your seed phrase, throw it in your fire box, and never mess with it again unless ABSOLUTELY necessary.

@adamventure

Жыл бұрын

Thank you I appreciate it! And that's a totally fair way to look at it. I do it for accessibility, but if you prioritize security above all else then you're correct. I would also suggest having a spare device ready as a backup, even if you don't restore the seed phrase until you need it

After creating a wallet address in the ledger and verified the address of the crypto by send a small amount , can i receive crypto payments from others directly to my ledger crypto wallet or do I need to get the payments to my exchanges and then to the ledger wallet ?

@adamventure

Жыл бұрын

You can receive payments directly to your Ledger addresses

I bought xrp from uphold. I bought a ledger nano s plus to store it in. What next do i down load uphold on my computer to transfer to nano?

@adamventure

Жыл бұрын

It's going to be a similar process to what I show here: kzread.info/dash/bejne/eH2Cw6Scn5S_j9Y.html

Hello what's the best way to get started with biction investment cos I've been making personal research for a while now.

@salmakenzie6870

Жыл бұрын

3 months Ago i was skeptical about trading bitcoin until i was introduced to Mrs Annabelle and i must say i was impressed by her understanding and politeness

@britney_david

Жыл бұрын

Thanks a lot for the recommendation guys and I'm looking forward to earn from my first investment with her

Hi Adam have you got any thoughts on getting a nano s to work when it won't connect to either iPad or iMac

@adamventure

Жыл бұрын

Nano S wont work with iPads. Should work with Macs

@adamcotton9657

Жыл бұрын

@@adamventure found out nano s will work with ps4 controller cable it is thicker maybe data transfer is better not sure with iPad but with iMac 2011

@adamventure

Жыл бұрын

@@adamcotton9657 as long as it has the right ports it should work with your mac

forever is a long time. nice shirt!

Hi I can't add note to send crypto to stake algorand on my ledger

OK I am moving my bitcoin Balance to Coinbase Wallet. Is this safer? I am not crazy about the idea of moving it to a separate cold storage because of the nature of hardware. It could get scratched or damaged in some way . That seems very vulnerable to me. Any thoughts?

@adamventure

Жыл бұрын

That's not a bad idea, but a hardware wallet is also safe. Even if it malfunctions, as long as your have your seed phrase, you will always have access to your fund by restoring onto a new device (like I discussed in the video)

What do I do if I lost my seedphrase, but can still access my wallet and Ledger?

@adamventure

Жыл бұрын

Send everything out to somewhere you do have access to the seed phrase, its very risky to not have it - there's a non-zero chance you could get locked out

Lol... Good video, maybe the stax will display holdings. Where was this back in 2017 when I was asking these questions? Hah! I used a paper wallet after MtGOX until I bought my first ledger.

@adamventure

Жыл бұрын

Thank you I appreciate it! Unfortunately no it wont for the same reasons I covered in the video. Better late than never haha

Question: I have some altcoins on my hardwallet. Herefore i used the binance smartchain. What happens with my coins if binance would role over. Could I still have access to my coins on my hard wallet, they are on the binance smartchain 🤔. If yes: where to could I send him to convert to USD 🤷‍♂️. Thank you in advance. I searched alot on the internet but never found an answer.

Will I be able to connect my ledger nano s to the new lace wallet when it comes out

@adamventure

Жыл бұрын

The integration would need to be built first but its possible

Still the most important question did not appear in your search? How does the Hardwarewallet create a Phrase? And how can i be sure f.e. Ledger as a Company does not transfers it secretly, since i have to use ledger live to use the wallet?

@adamventure

Жыл бұрын

Its created with the BIP standard and thru hierarchical determination of derivation paths. If that sounds difficult and highly technical, it is. All that should be a whole other video in itself which I can add to the list!

@christoast5028

Жыл бұрын

@@adamventure please do so. Because at this point I have to blindly trust my hardware wallet.

Can I convert my fund in bank to USDT and store them on ledger with or without trading for ever?

@adamventure

Жыл бұрын

Yes you can! You will need some ETH to convert back to fiat in your bank tho

Hello what do you think about safepal s1 Wallet. Is it safe ?

@adamventure

Жыл бұрын

Yeah the SafePal wallets are pretty solid from what I can tell!

If I have coins on two different glockchains, does my HW wallet create the same looking wallet addresses on both glockchains?

@adamventure

Жыл бұрын

No it ultimately depends on the network that the token is on

The device acts as a key and the only time you really need it is when you go to sell or send crypto

@adamventure

Жыл бұрын

Yes that's correct

I downloaded Trust wallet, I set up a PIN and a seedphrase and I uninstalled it. Now I simply send BTC to that address. For storing, is that safe? It seems so. I do not intend to spend it any time soon. Thanks!

@adamventure

Жыл бұрын

As long as you keep that seed phrase safe it will probably be good enough

@cesuntbanii

Жыл бұрын

@@adamventure Yup. I will get a harware wallet when spending bitcoin is commonplace - and basically the first tranzaction will be to move it fromTrust wallet to a Trezor. For now I just stack sats in that address.

Hi has anyone asked if you can store your crypto from 2 or more exchange platforms to the same ledger device together?

@adamventure

Жыл бұрын

Not besides your other comment on a different video, which I answered yes you can!

Here is why people are confused… Question #1 you specifically say crypto, is not stored on your hardware wallet. But then you proceeded to say many times throughout the video, “storing crypto on your hardware wallet,” “transferring crypto to your hardware wallet,” etc. Do you see how people can be confused? Several good points in the video but you added to the confusion of your answer to Question #1. Good effort though….

In terms of prices and fees, do you think is better to transfer money to a centralized exchange and buy or buy directly from your hard wallet in a dex? Thanks!

@adamventure

Жыл бұрын

Yes that is the optimal way to get the most bang for your buck! DEXs are great but when going straight from fiat like USD they usually hose you on fees

Great video Adam. I’m surprised you didn’t get asked about whether or not the crypto amounts showing on your ledger app are actually accurate? I mean, ftx was able to trick users into thinking they had x amount of Bitcoin in their account but on the back end, that number was just a dummy and the real Bitcoin was being leant out. How do we know ledger doesn’t have the ability to do that to users?

@blurry2k353

Жыл бұрын

You can always check the amounts held on the addresses generated by a hardware wallet independently by using a block explorer. Those are showing data that's directly from the blockchain. It's Etherscan for Ethereum, for example.

@thomasinaction

Жыл бұрын

@@blurry2k353 thanks for that explanation! What would a good one for Bitcoin and XRP be? Those are my other main positions

@adamventure

Жыл бұрын

Thank you my man! Glad you liked it and that's a great question that I haven't heard yet. So the amount that you see in the Ledger app is 100% exactly what you own. It's pulled straight from the blockchain and you can verify this yourself on the official blockchain's explorer like @Blurry2k said. For BTC (and a couple others) you can use www.blockchain.com/explorer and for XRP you can use xrpscan.com/. Plenty of other options if you want to use a different one

Been using Nano X for a while, amazes me how one can create multiple addresses and it’s retrievable with one seed phrase. Care to shed some light on this?

@adamventure

Жыл бұрын

That's the magic of the BIP standard + derivation paths! Here's some more in depth info without getting too technical: learnmeabitcoin.com/technical/hd-wallets

What about the trust wallet on an old smart phone that is turned off and stays under lock and key?

@adamventure

Жыл бұрын

That's a middle ground if you already have the old smart phone and don't want to buy a hardware wallet. Still not as safe since you have to connect to the internet at some point

I'm looking to buy nano s plus..I only use an android phone can I update firmware on android phone..thank great video.

@adamventure

Жыл бұрын

Good call that's a great device for you! And you're very welcome

What hardware wallet you recommend.

@adamventure

Жыл бұрын

I made a video about that! kzread.info/dash/bejne/eo2jqpSje8bMhbg.html

Thank you. But I had a scenario last week. My phone crashed, and I tried restoring my TW with XRP (and some other random cryptos that did show )on it on my desktop chrome extension. NONE of my XRP showed ( 1.25$ balance) even after ticking XRP to "on" in settings. Does binance want to eradicate the XRP. I lost faith because of this

@adamventure

Жыл бұрын

Sounds like you may have gotten hacked (or used a different seed phrase)

You mentioned, one can use his/her seed phrase from one wallet to another. Is that right? For example i have trezor, can i use trezor seed phrase to use ledger wallet?

@CaseDadToo

Жыл бұрын

He doesn’t just mention it, he says it straight out. “If all of a sudden, all Ledgers cease to exist……..”

@adamventure

Жыл бұрын

@@CaseDadToo thank you for helping out! And yes that correct Allan, in fact I have my Ledger, Keystone, and Trezor all on the same seed phrase

@allanroska

Жыл бұрын

@@adamventure thank you.

@CaseDadToo

Жыл бұрын

@@adamventure This is the first time I’ve listened to you, and I learned a bit, which is a good thing. Allan’s question was about one of the bits I had learned that you reiterated at least 3 times during the vid. I like your approach, and the way you answered questions I’ve thought but not voiced. By repeating certain things in different words like you did here brings clarity, and helps remove vagueness! I’m unsure about a lot of things but just this one vid has given me a much better understanding of wallets in relation to crypto blockchains. Thanks.

@adamventure

Жыл бұрын

@@CaseDadToo I'm glad you learned something from me! Helping people understand how hardware wallets work (and blockchain as a whole) was the goal. Definitely going to use repetition and rephrasing in future videos

So what's the goal of hardware wallets if you have to store the seedphrase yourself? It seems to me like hardware wallets ONLY protect against malware/key logger attacks, and because of this I find the hardware wallet deal kinda overhyped. It's very useful for people who don't get the tech very well but for someone more tech savvy a hardware wallet can be replaced by a $5 USB device using encryption.

@blurry2k353

Жыл бұрын

That's not the same because hardware wallets also sign transactions offline. Private keys are never exposed to the device you're using for a transaction (e. g., your PC), which minimizes the risk of an attack. In the $5 USB scenario, you could theoretically do that, too. But you'd need to do it manually somehow with an additional device that gets never connected to the internet and never was (otherwise, malware could already be present) to achieve the same level of security.

@thijsf395

Жыл бұрын

​@@blurry2k353 Well okay but that's kinda what I said in my original comment, besides malware/key logger attacks they don't provide extra protection. Nowadays it is rare that people lose their crypto through malware attack, rather they will have been social engineneered to give up their seed phrase or malicious smart contract (which means they are inherently less tech savvy). Obviously still a risk, but realistically pretty low. But I understand the appeal for non tech savvy people, it just seems like people think that it offers way more protection than it actually does.

@blurry2k353

Жыл бұрын

@@thijsf395 I'd say one can just sleep better knowing there's absolutely no chance of a malware attack. You never know whether your device might be infected with something. To me, that's still a pretty big advantage. I wouldn't buy a hardware wallet for $500. But $80 or something? That's a good price.

@thijsf395

Жыл бұрын

@@blurry2k353 Yeah fair enough, I would say that it's the right choice for like 98% of the people since they are not tech savvy enough to setup their own key signing setup. Although, I would think that you could simply buy a $100 refurbished laptop (or new chromebook), completely hard wipe it of course, install linux on it and use it for signing transactions through live wallets like metamask and xdefi. If you never use it for anything else than signing transactions, you should be as safe as using a hardware wallet I would guess. It's not as convenient because you have to have the laptop (bulky), but it's more flexible because hardware wallets can be a pain in the ass to use for certain chains and with certain dapps. Regardless, my main point would be that hardware wallets don't protect against everything, rather it's mostly good against malware which is relatively rare nowadays. People shouldn't feel completely safe with hardware wallets because bad smart contracts or social engineering can still steal funds. It can give a sense of oversecurity.

@cryptopartnerships

Жыл бұрын

It's also because of Centralized Exchanges. If you hold your crypto on a centralized exchange and that exchange goes bust, you lose everything. Just like FTX, 3 Arrow Capital, etc.

I appreciate the fact that hardware wallets. How is the mobile wallet as an app? Are they compared to the hardware wallets? Thank you.

@adamventure

Жыл бұрын

Think of the mobile wallet is a user-friendly front-end to your hardware wallet

I’m having problems with my ledger, doesn’t work unless it’s plugged in (battery problems) help pls

@adamventure

Жыл бұрын

Assuming you have the Nano X, yeah that happens sometimes. You may have left it in the box for a while before setting it up? I'd reach out to Ledger customer support for a new one

Adam , big fan. Question, I am about to move my Bitcoin from coinbase to my Ledger nano S, when i do this will my coinbase account show 0? And how will I continue to see gains/loses like coinbase shows me? Thanks

@adamventure

5 ай бұрын

Hey happy to help! Yes you are correct, your Coinbase account will show 0 but your Ledger Live will start tracking your profit/loss. However come tax time, you will likely want to use a service like Koinly to aggregate all that data into an actual tax form (you can also use it to track across accounts for free without buying a tax report)

@myasgur

5 ай бұрын

Thank you so much for the answer. Will the transfer of money become a taxable event? @@adamventure

Adam can you show how it's done? Or do y have a video about that? I'm new and I need to move it from the exchange to my ledger.

@adamventure

Жыл бұрын

I have lots of videos about Ledgers, here's one that would help: kzread.info/dash/bejne/eH2Cw6Scn5S_j9Y.html

Subscribed. Where have you been

@adamventure

Жыл бұрын

I appreciate the support! Just been hanging out but glad you found me

I wish you had answered the important question as no.3: where does the crypto goes if my wallet is not connected to the software of the wallet? You just mentioned that you can receive it when the wallet is. Not plugged in but did not say where it goes

@daahoo

Жыл бұрын

It goes to your walley "address".

@adamventure

Жыл бұрын

@@daahoo thank you for responding! Yes it goes to your wallet address on the blockchain

Can you explain the seed phrases in detail? Because the seed phrase is not stored on the blockchain correct? And if it’s not stored on the blockchain then where does it come from? A company? How does the seed phrase access bitcoin wallets when it’s not part of the blockchain? Or is it? I haven’t found anyone to explain this yet.

@adamventure

Жыл бұрын

I can make a separate video on how they work! Basically the seed phrase is fed thru a widely used industry algorithm to generate the public and private keys. The seed phrase is not stored on the blockchain, and ideally should only be stored in a place that is 100% safe. Its randomly generated from the software/hardware itself

It would be nice if you could do a review about Tangem

ELI5 please. Why does the wallet give you new address after every deposit? Isn't all the accumulated deposits stored on one address?

@adamventure

Жыл бұрын

Some blockchains are designed that way to give you better privacy. Each time you receive to a new/unused address, it will generate you a new one. But all the old addresses still work and show up under the main wallet!

Thanks, very useful :) any video how to backup Nano X to Nano S?

@adamventure

Жыл бұрын

Just make sure you keep your seed phrase safe! You can purchase a backup device just in case the first one breaks

@jorgferr1

Жыл бұрын

@@adamventure I bought directly from ledger a pack with X and Nano S. I would like to backup X to Nano S, I will try to follow Ledger instructions. I believe you mentioned in the video you have the same setup (same 24 key in both Ledger).

@adamventure

Жыл бұрын

@@jorgferr1 yes that's correct! Once you set up the first device, you can recover the seed phrase you receive onto the second device

anyone else notice the upbeat minecraft music in the backround😂good video btw

@adamventure

Жыл бұрын

Its an absolutely classic haha I put a lot of video game background music in my videos. And thank you!

Storing your cryptocurrency on a hardware wallet is akin to stashing your money into a mattress.

If my Ledger that holds all of my Solana is destroyed, it cannot be recovered on an Trezor because Trezor does not support Solana, what do I do then?

@20ISH-TRUCKDRIVER

Жыл бұрын

Buy a new ledger wallet n recover it

I don't not know that it was on the blockchain, I thought it was on the wallet. Sounds like the same thing with Gold and Silver, if you physically don't hold it, you DON'T own it.

@adamventure

Жыл бұрын

Think of the hardware wallet as a key, like to your house; it gives you access to what's inside. Instead of your house, its your wallet/address on the blockchain

Is there any chance that the company that provides hardware wallet have the private keys ?

@klingklangklong1719

Жыл бұрын

No. Only if the HD Wallet is compromised. Some hackers tested Ledger but there were no signs. The HD Wallet creates your Private Keys. And if you buy one, you're the first person who use it.

@Deadbolthead

Жыл бұрын

Always a chance. No matter what the company says. Let the government file a lawsuit against them….they’ll magically figure a way to get your seed phrase guaranteed.

how big a nano wallet one needs to store very large amount of crypto or USDT.