/biz/ - Business & Finance

>>18326728
Unless you are very actively trading, always, always, always keep your shit on a Ledger or a Trezor. It somewhat depends on how invested you are, too. If you only threw in $100, which really is nothing, then don't bother, but if you are into thousands, or tens of thousands, you are doing yourself a disservice by keeping your stuff on exchanges.

I know, some exchanges are "insured". But they do not inure you tokens, they insure your USD (or whatever fiat) you hold there. Keep this in mind.

>>18326728
I've been meaning to move my shit off an exchange for like 2 years. How difficult is it to move everything to a Nano Ledger/how much risk is involved (let's say I'm a brainlet, hypothetically)?

>>18326728
I use a ledger constantly. I buy and move to ledger. Anything you keep on any exchange or site can be taken away at anytime and you'll just be left holding your dick in your hands whining and crying how you just got fucked.
One of the major appeals of tezos to me over eth was that I could hold it in my ledger and still use the tokens to "bake" and get interest, which is nice

>>18326809
Its just as easy as moving it to any wallet. Ledger live is very simple and easy to use, you install the wallet and go

>>18326809
I bought my first stack and put it on a Nano S. Its not that much work. I also have a fire safe. You coukd drop $100 between the two and be covered.

Im in on a long position so Im just gonna let it sit in there.

>>18326728
are there big diffrences in hardware wallets? what should a maybe brainlet watch out for?

>>18326849
Im a noob and did a google and up popped a dozen articles on the Ledger Nano S. I kept digging and it looked legit. Never heard of a Trezor until now.

>>18326879
Trezor is only $30 on Amazon. I did a bit of research a couple weeks ago. Probably going to order one soon. I've had my BTC stored on Coinbase for a little over a month now.

Every exchange will fuck you over eventually. Either they will get hacked, report you to your tax authority or shut down entirely.

Don't bother with margin trading. Just buy some alts and keep them in a hardware wallet. You'll be saving yourself a whole bunch of headaches and will probably end up with a lot more money in the end. All exchanges are garbage, especially Coinbase aka Fedbase.

I myself use Shapeshift's Keepkey hardware wallet

>>18326892
Why would you not just buy from trezor directly and not worry about the risk of it being tampered with. What's an extra $70

>>18326794
Fpbp

I am a ledger anon since 2017

>>18326809
Dude, just test the waters moving a few dollars worth before moving your entire stack. It's not difficult at all.

>>18326892
Trezor has been hacked via some voltage overload meme. Freetards btfo yet again.

>>18326920
>tampered with
I'm not that paranoid. I might end up getting the Coldcard Mk3 anyway.

>>18326920
This. Dont buy third party.

I just read a Trezor vs. Ledger comparison. Trezor was deemed slightly better as its more secure due to its code being open source whereas Ledgers is not. Still pretty much 50/50 though.

>>18327026
>>18326976

>>18327057
I have Ledger. Just relaying what I read.

>>18327026
Coldcard Mk3 sounds even better.

https://decrypt.co/24076/coldcard-mk3-wallet-review-maximum-security-for-your-bitcoin

https://coldcardwallet.com/

>>18327083
What you read is outdated information though and propaganda by freetards who will choose anything open source over closed due to mental illness.
https://blog.kraken.com/post/3662/kraken-identifies-critical-flaw-in-trezor-hardware-wallets/

>>18327101
K

>>18327095
Bitcoin only?

Stainless steel squares and letter punching kits using multisig wallets generated on an airgapped computer using a high security OS or bust. If you're too stupid and lazy to set this up you should stick to index funds because you arent gonna make it.

>>18327139
Yes

>>18327156
Also, OS is on a DVD, computer has no hard drive or wireless capabilities. You morons are trusting 3rd party companies and USB software WAY too much.

>>18327180
post link to dvd OS that comes with wallet software

>>18327208
TAILS.

>>18327156
>>18327180
>>18327233
>THIS IS ADOPTION!!!

>>18327259
I'm too autistic to understand if you're mocking me.

>>18326969
But could a brainlet mess up and be unable to transfer money out of your ledger? Can you have multiple ledgers installed on the same computet?

Will a Ledger Nano X hold my unknown ERC-20 shittokens, like MetaMask?

>>18327316
He is. Also he has a great point.

>>18327351
Yes. You can do this by using MEW with your hardware wallet.

>>18327368
Re:the 'tism; is he saying this is too cumbersome for a normie to use? Cause that's the point. This is the price you pay for this kind of freedom over your money. There are legitimate uses for this tech but it's pretty small. Paying for VPN access is the only one I've seen so far, and if you're using a VPN you're not a normie.

I keep my link split between both my ledger and my Trezor. Having a good bit of experience with both, I prefer the Trezor. Mostly because my Ledger is pretty buggy when it comes to connecting sometimes.

>>18326794
kek holy shit really just the fiat amount? imagine getting fucked on that

moving all my CKB off exchanges now

>>18326728

I use a ledger nano x and meta mask.

It's the best combo atm

The nano X works wirelessly and that is really necessary I recommend you shell out for the X

These days, most of my crypto is on BlockFi and Celsius earning interest. Hopefully that shit doesn't get hacked.

For coins I can't get interest on I use a hardware wallet where possible.

>>18326728
>>18327538
I know I can probably google this but how do you store link on a ledger nano?

>>18327720
Are there any of these types of services out there that work with anything besides Bitcoin?

>>18328039
They also support ETH, LTC, stable coins. A few random ones on Celsius. They can only give interest on coins that people want to borrow so they might support a shitcoin that gets heavily traded over coins that are more serious.

Im planning to buy a safepal s1, and go balls out and putting my xrp on a paper wallet .. how fucked am I?

>>18327180
Now write this in bullet form step-by-step and I will bid thee one (1) luxurious hat tip.

Trezor solely for the locking feature which i use fairly often

>>18326728
Trezor with passphrase master race reporting in.

Only wallet resistant to wrench attack due to hidden wallet feature

>>18326809
It's so easy, definitely do it. As other anon said jst send like 1c worth first and then you can send more. Hide your private keys really well in a clever way, you'll need them if you lose your ledger.

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>>18326826
Thats what happened to all those people that remember the Mt Gox fiasco and didnt have their crypto on their own wallets.

>>18326728
if you dont hold all the keys
you dont hold the coin

Questions on paper wallets. How are you able to see it's balance? Is every coin capable of being stored on one? (You'd have to make a different one for each right?) Are they a viable option for long term storage? My plan so far is to either buy coin from coinbase, and transfer it to paper, or just earn some by doing odd jobs where I'll be able to circumvent kyc i hope. I'm a silver fag who is trying his hardest to understand crypto more, and this is my plan so far. Any input is appreciated.

Is Trezor (or something similar) able to hold different types of coins or are certain ones required for certain coins? For instance, if I had BTC, LTC, ETH, LINK, XRP, PNK could they all be on

>>18330788

Get a ledger nano x I have a trezor and its gathering dust because it takes to long to hook up and send/receive

The ledger nano X is wireless. It works with ur phone. I could not deal with a hardware wallet I regularly used if it wasn't as easy desu.

Only problem is the nano X is expensive. Still worth it by a long shot imho

>>18330770

Import the public key to a wallet app on ur phone. You need the private key to spend but everything else is easy to do with the public key

Paper wallet, dice, offline computer
Will move to brainwallet soon
I don't see why you would trust a company like ledger, it's basically the same as trusting a web wallet.

>>18330770

Also don't fall for the shills on here. Ethereum is the only reasonable hold and maybe Zcash.

Bitcoin used to be great but 80% of the network is controlled by China now so stay the fuck away even if it goes to the moon. CCP could shit on it any day it pleases them and ignore anyone who tells you otherwise they are a blind bitcoin maximalist.

But ya I recommend you get a ledger nano X hardware wallet and use a bitcoin atm or local bitcoins website to buy. Paper wallets are not as safe as a hardware wallet.

That's pretty much it. Don't buy anything 4chan tells you to and only hold Ethereum or some other project without paid shills like Zcash

>>18330770
>How are you able to see it's balance?
Just look at the address on etherscan or something, won't work with xmr obvs

>>18330888

Bro I am a blockchain dev and a ledger is open source. You can download the code on github and make your own ledger or trezor. These things are trustworthy and if you lose it unlike a paper wallet someone probably wont steal ur stuff

>>18327156
Ah, but how do you know you can trust your source of randomness?

>>18326728

I have my wallet encrypted with

openssl enc -aes-256-cbc

and stored on a google drives

>>18330914
There could be a backdoor in the hardware
You don't know that the firmware you flashed on it/have the source for is actually what's running on the device
You simply can't deny that you have to trust the company making the thing
Ah, but this blockchain dev on the chan said it's trustworthy, alright then

>>18330833
How retard proof is it? Could I load crypto on and then put it into a safe and forget about it if I just want to HODL?

>>18330986
In addition: you need a backup phrase in case it breaks, so now you have a fancy usb stick AND a paper wallet, might as well just have a paper wallet then from thr pt of security (disregarding convenience)

>>18331017
ledger & tresor is pretty much the go to for normies

just make sure to backup (on paper) the seed phrase the device gives you, and remember your pin (again can write it down)

and you should be good to hodl

>>18327687
What a stealthy shill post. Not really. You pajeets are easy as fuck to spot.

>>18330986

Lol everyone knows its possible to hack. Just use a password combo that way the key on the ledger or trezor is incomplete even if they hack it.

I keep the bulk of my funds on a password combo and just use the native key wallet as a hot wallet. Helps with 5$ hammer attacks

>>18331017

I HODL and still find myself needing to use my wallet for all kinds of shit. If you are really into Ethereum odds are you are loading stuff like ENS addresses on your wallet and stuff.

Kinda hard to live without metamask on a day to day basis

>>18331327
I'm a brainlet, not sure what most of what you said means. Could you point me towards some resources so I can better understand what you said?

>>18331513
ENS = www.myaddress.com for Ethereum
https://ens.domains/

Metamask is how most people interface with DeFi stuff like Uniswap.Exchange
Metamask is a open source wallet only for Ethereum. I can only recommend metamask desu as a hot wallet.

As for the ledger nano X. Using a password with your private key means you have a private key that is on your ledger nano X that holds your wallet. You can then make a completely new address using that private key on the ledger nano x by combining the private key with a password. This new address is temporary and only alive when you use that password with the private key. This makes it impossible to steal your funds if someone hacks your hardware wallet.

>>18331667
Do I generate the private key and password or will I be given each and must record them for future use? I assume if I lose both then my coins are gone, forever locked away.

Would I make the new address only if I knew somebody had hacked my wallet? What if the hack occurred without my knowledge? I imagine I would only be using my hardware on my own devices. Do I need to connect it to send funds out of it or can it be done without reconnected the wallet?

I'm just very paranoid about nuking myself by doing something dumb without realizing I'm doing it until it is too late. I have seen horror stories of people losing their funds because they have lost their private keys or something similar.

I was using hardware wallets till very recently.

My family is entirely non-technical. I left directions but I don't expect them to be followed.

In case anything happens to me due to the virus (I honestly think I got it guys), I moved most of my crypto to Coinbase and Gemini and gave my family instructions for how to get into my account and pictures of a signed letter telling the exchange to provide access to my family if I die, with selfies of me holding it and holding some of my IDs and passport.

>>18326912
>Every exchange will fuck you over eventually. Either they will get hacked, report you to your tax authority or shut down entirely.
>Don't bother with margin trading. Just buy some alts and keep them in a hardware wallet. You'll be saving yourself a whole bunch of headaches and will probably end up with a lot more money in the end. All exchanges are garbage, especially Coinbase aka Fedbase.


Based.

Anyone not using a ledger is a fucking brainlet. They're cheap, very easy to use (if you can handle crypto exchanges you can handle a ledger) and have NO CONFIRMED EXPLOITS so far. Exchanges WILL fuck you up sooner or later.

Take care backing up your seed phrase in a secure way and consider getting a whole spare ledger set up redudnetly.

>>18326728
trezor or ledger, anything else is at risk. No way someone can hack a ledger or trezor if its not plugged in.

>>18326826
>One of the major appeals of tezos to me over eth was that I could hold it in my ledger and still use the tokens to "bake" and get interest
Technically, that's what you'll be able to do with trustless staking via Chainlink

>>18331749

When you get a hardware wallet and set it up for the first time you will write your keys down and store them somewhere no one knows.

You can always recover your wallet later with the piece of paper you wrote your keys on if you lose the hardware wallet no worries.

As for someone stealing your wallet and hacking it this is pretty simple. They can learn the keys if they have physical access but only a pro hacker can do that in person. You have no risk of a computer virus stealing your funds.

In order to keep a hacker who has physical access from stealing your funds you use a password with the private key. This basically uses the private key that is impossible to remember because it's so long to generate a new wallet that is a combination of whatever password you pick and the private key. That way the private key alone will not be enough to steal your funds even if someone steals the hardware wallet and has l33t hacker skillz

Its simple once you do it but I would recommend sending around small amounts until you are completely comfortable with how it all works.

Use a ledger nano x as a cold wallet and metamask as a hot wallet. It's the most common combo general considered safe and reliable

>>18332198
Thanks for the help, fren. Should I purchase a Trezor instead of the Nano? Anons seem pretty adamant about Trezor.

>>18326728
Keevo

>>18326919
I use it as my daily driver. I really like it but trust Ledger with majority of my stack.

>>18330925
You can't, but you have to draw the line somewhere.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.cs.cmu.edu/~rdriley/487/papers/Thompson_1984_ReflectionsonTrustingTrust.pdf&ved=2ahUKEwiT4a_Oq9boAhVIRqwKHc72AyMQFjAAegQIAxAB&usg=AOvVaw3l6qaKBAkzJKAmykJoJ19R

>>18332342
I think it's a pretty big risk desu, if I were running a private key mining operation I would def look into some of these prng's with default seeds/a whole bunch of timestamps etc., especially on cold boot from an image.
The risk is pretty small I guess but I prefer dice.

>>18332730
>I think it's a pretty big risk desu
>The risk is pretty small I guess
I'm bad at calculating risks

>>18332730
There's probably a way to customize the seed generation, but the attack vector is way smaller than a hardware wallet

>>18332232

I have both and you want to pay for the more expensive Nano x

The both the ledger nano S and the trezor one are cheap wallets for Simps.

Trust me you want the Nano X over a trezor because it has bluetooth.

You have to hook the trezor up to ur phone with bulshit adapters and it's a pain in the ass.

Anons are just poor fags who can't afford a superior product. Both the ledger and trezor are open source and trusted the only difference is price

>>18332232
Also same guy as before my IP tag just changed

>>18327259
Kek

>>18332232

Also be do not buy the meme coin I repeat do not buy the meme coin.

Btc is ok but I sold all mine for Ethereum cuz china owns 80% of the network now. It's a risk even if it goes up ccp could shit on it.

Safe coins are Ethereum and Zcash. Both projects are favorites of the fortune 500 Corpo's. Never buy the meme coin buy the corporate overlords coin.

Chainlink is a scam

>>18333174
how about nem? japanese loves it

>>18327368
Flee mist. Wall of sea bass in ray port.