What is the point of hardware wallets?

[Anonymous No.26001433]

I purchased a Trezor, but upon setting it up I started wondering what is the purpose of it? You still need to write down and store a mnemonic seed, just like you would with a regular crypto wallet on your PC.

Is the point of a Trezor (or any hardware wallet) to make it so that you only have to keep track of one seed, instead of multiple seeds? Instead of having a Monero seed, a Bitcoin seed, an ether seed, chainlink seed, etc. you can just have one seed that restores all your crypto wallets? I can see the utility in that, but if you only hold one cryptocurrency then why use a hardware wallet?

[Anonymous No.26002068]

>>26001433
The point is that your private key doesn't directly interact with your computer.

[Anonymous No.26002125]

>>26002068
Bingo bongo, also your one seed is all u have to keep safe even if your ledger goes kaput.

[Anonymous No.26002311]

>>26002068
>>26002125
I got my trezor the other day and only have one seed yet I have a BTC wallet and an ETH wallet. Just now I am concerned, does that sound right?

[Anonymous No.26002334]

>>26002311
yes it's right

[Anonymous No.26002350]

1.) the private key stays only on the device.
2.) the buttons have to be physically pressed to send out your crypto. this stops a hacker in the same way as covering up your webcam with tape. there's no way around it.

[Anonymous No.26002378]

>>26002068
>>26002125
How do you know Trezor isn't logging the seed phrase it's generated?

[Anonymous No.26002413]

>>26002334
Thank you fren.
I started getting phishing emails about tokens in my metamask so I immediately ordered a trezor.

[Anonymous No.26002425]

>>26002378
they would be caught by nerds

[Anonymous No.26002495]

>>26002350
Thank you. Now it all makes sense.

[Anonymous No.26002529]

only pain is managing recovery seed if u mess up and lose ur trezor or it gets stolen u have to figure out where to hide it and if u want to engrave it on stainless or titanium

[Anonymous No.26002571]

>>26001433
I find the main benefit is price locking, but that's not available on the simpler or older models.

[Anonymous No.26002588]

>>26002378
Cause its code is open source and anyone can review it.
>>26002311
The seed is for multiple cryptos simultaneously. Nothing to worry about.

[Anonymous No.26002619]

>>26001433
>I purchased a
>I started wondering what is the purpose of it
This is what i don't understand. Why the fuck would you purchase something that you didn't know the purpose of??!?

[Anonymous No.26002675]

>>26002068
So it literally makes no difference if do the classic 'pull out the ethernet cable to disable internut' or not while setting up my trezor?

[Anonymous No.26002721]

>>26002334
Wallets are just for hodls?

[Anonymous No.26003027]

>>26002721
You mean hardware wallet?

[Anonymous No.26003076]

>>26002675
Don't you think a keylogger might be intelligent enough to wait for an internet connection before sending out buffered data anyway?

[Anonymous No.26003097]

>>26002675
To set up your trezor initially you need an internet connection to go to trezor.io to download the firmware. After that, you can create wallets offline to add to your Trezor. That's what I had to do with Monero. With the Monero wallet gui open and the Trezor plugged in, you "create a new wallet from hardware" and select Trezor from the dropdown menu and go from there. All offline

[Anonymous No.26004029]

>>26003027
My trezor is attached to MetaMask but it only works when the trezor is plugged in and you have to unlock and verify everything on the trezor. It's an added security when using metamask or brave's browser wallet.

[Anonymous No.26004073]

>>26002350
unless they luck out and guess your private key from brute forcing.

[Anonymous No.26004301]

>>26002068
Literally just get a dirt cheap used laptop and never connect it to the internet.