/biz/ - Business & Finance

>>56765915
Get a new one and use your recovery phrase

>>56765920
but if your crypto is on the old ledger?

>>56765915
then you're shit out of luck because recovery phrases don't actually work on these.

>>56765924
>he thinks his crypto is actually on the device.

>>56765924
Your crypto is on a blockchain, retard.

>>56765938
mines in a Chinese database

>>56765934
>>56765938
not if you put it on a hardware wallet (cold storage)

>>56765915
then you buy another

You don't think the crypto is "in" the ledger right, anon?

>>56765930
What do you mean? When I lost my old one, I bought a new one and it worked. All I had to do was type in:
pray trash divide car four historic lush head spooky juice peel clip hole dog afraid smooth excite abstract tender knowing protect collar learn sigh

>>56765959
it stores your private keys brainlet. not the actual crypto.

>>56765924
>>56765959
you are a retard

>>56765973
I used aledger ones and you use a windows program to literally transfer bitcoin to the ledger

You can buy a new ledger, but it will come in empty

>>56765982


*once

>>56765924
Your crypto is on a wallet which exists online. Anyone who can guess your 20 words recovery phrase can access your coins. It's not even that hard i hacked several bitcoin wallets so far.

>>56765982
this has to be the top signal. how the fuck are we still early? it's been over 10 years...

>>56765982
Bad bait retard. But just for the possibility of you not joking. The Blockchain is like a book that keeps track of how many bitcoins you have. Only your private key can move those funds. They are not lost as long as you have the seed phrase

>>56765990
If you keep it on shit like binance or metamask this is a hot wallet and its online


If you buy a ledger (from official store, not from amazon) and then put the crypto on a ledger this is called COLD STORAGE

>>56766000
Your skin MUST be brown. Post Hands and Nose

>>56766000
it's considered a hot wallet because you don't have the private keys when it's sitting on an exchange, anon. the exchange does.

>>56765998
Yes, but you need the fucking ledger. You cant just buy a new one because the new one does not hold your fucking crypto

>>56766012
Exactly. Which is why you put it on a ledger. Nobody can steal your crypto as long as they do not have the fucking ledger, because it is offline (AKA COLD STORAGE)

>>56766000
>>56766017

The ledger has a copy of your seed phrase, which you save somewhere safe.

It uses this key to sign transactions on the blockchain. If you lose the ledger, you can get another and simply type your seed phrase back in.

The SEED PHRASE, not the device itself is the key to your cryptocurrency.

>>56766022
no anon. if i have your private key or recovery phrase, i can get all your crypto instantly without your ledger.

>>56766024
If that were true why the fuck would they send you the USB stick to store your ledger one? They could just email you the words you fucking retard

>>56766029
*To store your crypto on

sorry i'm a bit tired repeating myself

>>56766028
I dont use any of that since I use a fucking ledger, all I need is plug it in, enter pin, then I can take the crypto out of cold storage and send it back online

>>56766029
You've gone too far anon

>>56766029
okay I thought you were trolling but you're just a retard or a noob who thinks he knows everything.

https://www.ledger.com/academy/glossary/seed-phrase

Whatever you say fags, even if you do know where I live, good luck finding the usb drive

>>56765959
Kek

>>56766000
lmao nice troll
but for retards
hot wallet = someone other manages your seedphrase (cuck option)
cold wallet = you know your seedphrase

>>56766054
gg retard, i've seen that pic before. solid bait.

>>56766065
That's not mine. This one is.

>>56766029
Jesus Christ you are fucking retarded
>"Reeeeeeee Im so stupid I get angry when I have to think outside my assumptions reeeeeee!"

>>56765924
The magic internet money never leaves the internet. You own words.

>>56765959
There is a vishnu living in the blockchain

>>56766000
Trips of truth. I downloaded my coins to a paper wallet back in 2017.

>>56766062
Incorrect.
Hot wallet = seed is online or has touched a device connected to internet.
Cold wallet = seed is completely offline and hasn't ever touched an online device.
If you store your crypto on an exchange or someone else "manages" it for you, you most likely don't have keys to the wallet. Not your keys, not your coins.

>>56765959
How cold should it be?

>>56766140
I keep mine in the freezer

>>56765959
You have to be indian. Theres no way you aren't indian.

>>56765991
Idk. I think if you asked most people they wouldnt have a fucking clue how crypto works or the financial implications of the tech.

>>56766029
>the retard poo starts to realize the pricey usb sticks are a scam

>>56766041
>since I use a fucking ledger

anon its really not the brag you think it is.

You got got.

>>56766054
Lame bait.

>>56766071
Its funny though because you probably own one and you got scammed with a fancy usb drive so now you post ledger bait.

Sure. You got me. But i didnt buy an overpriced usb stick.

>>56765924
average metamask user

>>56765962
Yes, it holds it, which is why it's called a cold wallet. It's not hot (online).

what's the difference between this and keeping the seeds on an old phone that is disconnected from the internet?

>>56766525
How do you sign your txs? The airgapped linux method works well for time insensitive txs like Bitcoin, but what about DeFi txs where the tx might need to be signed within seconds or it fails (e.g. price movement)? And you can't assume everyone knows how to airgap a PC properly.

>>56766071
tried this seed, didn't work guys

>>56766470
This is why I store my crypto private key on a stone tablet where it is ciphered using my brains eeg.
That way when I reincarnate my funds are still safu

>>56766589
Who says im sending money from my wallets?

>>56766630
Who says HW wallet owners aren't?

>>56765959
>all these replies from people that don't know how to take your coins off the blockchain
ngmi

i just got a new wallet off ebay, but how do i keep it from turning into a hot wallet?
do i buy a fan?

>>56767213
store it in your refrigerator

>>56765915
Email yourself the recovery phrase so you never lose it.

>>56766041
If I enter your seed phrase in my ledger I can access your shit because its fucking online you imbecile. The point of having a ledger is so you don't have to enter your seed phrase on your PC which might be compromised with a keylogger or something. Ledger can't hold the whole fucking blockchain on its memory.

>>56765924
I hope you get BOOPED

>>56765924
Nice bait to uncover why these are useless.

>he’s not using metamask
NGMI

>>56765924
t.

>>56767957
the point is your private key is never on any other device retard

>>56767960
Lol, Metamask is a good option for holding. My friend is keeping his XTP in the wallet since the Tap platform isn't available in the US yet. If it becomes available, he might consider transferring, but the timeline is uncertain.