So what happens if hardware wallet services get hacked or shut down?

[Anonymous No.52403881]

[Anonymous No.52403885]

>>52403881
all your e-money are gone

[Anonymous No.52403940]

broke:
mobile wallets, browser extensions, exchanges
woke:
hardware wallets, metal backups
bespoke:
clean laptops that never touch the internet

[Anonymous No.52404016]

>>52403881
Literally nothing except your Ledger Live app will stop working.

[Anonymous No.52404025]

>>52403881
Then your coins are gone dumbass

[Anonymous No.52404034]

>>52403881
I'm sure they will issue full refunds

[Anonymous No.52404120]

>>52403881
I can only speak for trezor, but I think they can't hack a hardware wallet since your private key never gets exposed.

So a hacker might hack the trezor app but with only the app he can't do shit.. he needs the private key OR physical access to the trezor itself to either physically hack it through electronic fuckery OR he could just pull your fingernails off one by one until you tell him your private key

[Anonymous No.52404133]

>>52403881
First you learn how hardware wallets work and second you don't make these mongoloid-tier threads, also sage

[Anonymous No.52404150]

>>52403881
>hardware wallet services get hacked
what do you mean by this. nobody can "hack" into your Ledger unless you give it to them.

>or shut down?
literally just recover your funds with something else, had to recover my Litecoin from my ledger the other day using my seedphrase because and Electrum because the ledger screen stopped working.

[Anonymous No.52404189]

>>52403940
>clean laptops that never touch the internet
how are you supposed to get crypto on it without at least a one time connection / preserving virginity ?

[Mr. Gaming No.52404234]

>>52404189
>he doesn‘t know hoe to generate keypairs offline
Ngmi

[Anonymous No.52404260]

>>52404189
if you don't know, you should stick to hardware wallets

[Anonymous No.52404336]

>>52404016
Can you sign transactions without the ledger software? Never used a ledger

Seems like a bad design if thats the case, imagine you want to access your coins in 30years and the company is gone with their software

[Anonymous No.52404375]

>>52403881
You import your seed in another wallet. They are all compatible (BIP39 format).

[Anonymous No.52404405]

>>52404336
If that's the case you still have your seed phrase so everything's all good

[Anonymous No.52404411]

>>52403881
>So what happens if hardware wallet services get hacked or shut down?
nothing, you still need to backup the mnemonic (24 words seed) on a steel plate, or a piece of paper, or memorize it
if you have those words you can recover your funds with another wallet

[Anonymous No.52404436]

>>52403881
If the ledger servers or app get hacked what can happen is that next time you try to send money they will sneakily switch the receiving address for the hacker's address. That's why you always need to check the address shown by the device before sending.

If the ledger itself is compromised then it's game over. But most likely you'll find out in the news before using it (assuming you don't use it on a daily basis.

[Anonymous No.52404503]

>>52403881
The jew can’t do shit without your seed phrase.

[Anonymous No.52404569]

>>52403881
>What is a block chain
Good to know I haven't missed anything good in the last 12 months I haven't been on here

[Anonymous No.52404604]

>>52404189
you generate the transaction on that computer, but broadcast it from an internet connected one

[Anonymous No.52405145]

>>52404189
the 'clean laptop' is a meme. Unless you soldered it together yourself, at some point it was connected to the internet.

[Anonymous No.52405293]

>>52404604
how

[Anonymous No.52405335]

>>52405145
Take your meds schizo

[Anonymous No.52405382]

>>52405293
You prepare the transaction and sign it with the gapped computer, there are different ways but transfer the information, qr codes for example, gets used a lot by cold Wallets

[Anonymous No.52405696]

Just get a multi-sig
Use your phone and PC to sign.
The hacker would need to simultaneously get a hold of both devices (very unlikely).
You could even have 3 signatures.

[Anonymous No.52405771]

>>52404405

>Expecting a couple pieces of paper to last thirty years.
>Not in a bank vault.

The shitty, unrecoverable way of storing this funny money that still hingrs on protecting pieces of paper over long periods of time is why crypto is clown tier.

[Anonymous No.52405985]

>>52403881
Retard

[Anonymous No.52406006]

>>52405771
Oh noooooooo. Not responsibility. Noooooooo

[Anonymous No.52406039]

>>52404336
You can type your seed phrase into 1000s of other wallet software newb

[Anonymous No.52406126]

>>52406039
If they used bip39 and you know the derivative paths

[Anonymous No.52406150]

>>52406126
I remember doing this on myetherwallet and they had the derivative paths selectable from a drop down menu

[Anonymous No.52406184]

>>52404189
>get crypto on it
The coins never leave the block chain.

[Anonymous No.52406239]

>>52405771
You twerp. I've seen notes on paper last longer than entire banking conglomerates.

[Anonymous No.52406630]

>>52403881
Both the Ledger and Trezor desktop apps do not need any live service to function. All that would potentially go away is updates/notifications.

Also, they are both completely open source anyway.
https://github.com/ledgerhq/ledger-live
https://github.com/trezor/trezor-suite

Also, you don't even need to use their apps. Both hardware wallets can be connected through Metamask or other wallet UIs, and you can even select a specific key derivation path if you need to.

Also, run your own node. Even if Infura/Alchemy goes down, I can send transactions just fine. I have exploited this in the past for profit, arbing NFTs when 99% of the world temporarily can't interact with the network because Infura is down.

[Anonymous No.52406776]

>>52406630
didn't know ledger live was open source. is there any fork without the spyware? it also seems to be the only way to update your device, otherwise one could just electrum as a wallet.

[Anonymous No.52407399]

>>52405145
no, most manufactured laptops won't connect to the "internet", they'll simply run diagnostic software at the factory to do a basic test of the hardware.

[Anonymous No.52407671]

>>52403881
A hardware wallet is basically a paper wallet in digital form

[Anonymous No.52407696]

>>52405771
Do you think paper magically disintegrates after 20 or 30 years? lol

[Anonymous No.52408099]

>Trezor Model T
>Passphrase in paper locked in buried lockboxes in different locations
>Clean cheap laptop for only crypto
>Binance exchange accounts locked with Yubikeys
>Email used for crypto locked with google Titan security key

[Anonymous No.52408150]

>>52403881
nothing as you just install electrum wallet and link it to your hardware ledger and use your key as usual via electrum.

[Anonymous No.52408235]

>>52404189
>>52404336
How do you people not know how crypto works yet

[Anonymous No.52408382]

I do not have such problems with my fiat currency in a well regulated banking environment.

[Anonymous No.52408535]

>>52408382
american banks are a joke where it comes to security

[Anonymous No.52408583]

>>52408535
Thankfully, I'm not a mutt.
>american banks are a joke where it comes to security
American everything is a joke.

[Anonymous No.52408713]

>>52403881
Then they aren't hardware wallets.

[Anonymous No.52408836]

What do you guys think of paper wallets? Whats the best (most secure) way to get one?

[Anonymous No.52408853]

>>52407671
a paper wallet isn't a wallet, it's just a way to store a key
a hardware wallet is just a less secure clean / offline laptop with more convenience

[Anonymous No.52409352]

>>52403881
I make use of ORE ID for safety and security of my assets.

[Anonymous No.52409531]

>>52403940
>info on a piece of paper crammed behind an outlet face plate

[Anonymous No.52409572]

If they have actual money you can sure them for a breach of contract. But no on in crypto actually has so you are simply fucked

[Anonymous No.52409682]

>>52409531
that's only half the problem, you also need a secure way to sign transactions.

[Anonymous No.52409918]

Lets say I want to stake my Link on my Trezor through metamask - if my coins are still on my Trezor, then so long as my Trezor is secure my coins should be considered safe?

[Anonymous No.52410220]

>14 years after the creation of cryptocurrencies
>retards still dont understand the most basic aspects of how they work

[Anonymous No.52410317]

>>52403881
shutdown? it's a hardware wallet and you still have your wallet seed? what even is your question?

[Anonymous No.52410361]

>>52403881
coins are gone you are correct, hopefully you locked in the price with your ledger ar 68k tho

[Anonymous No.52410921]

>>52404120
>He was warning you, and you did nothing.
>It is nobody's fault but your own for getting tricked, Goy
>SBF had nothing to do with this outcome, if he hadn't tricked you, somebody else would have
etc...

[Anonymous No.52410955]

>>52403881
Retards be like
>HUURRR YOU CANNOT HACK A COLD WALLET
ok why?
>UUUUU YOU JUST CAN'T OK

[Anonymous No.52411833]

>>52410955
of course you can, but it's significantly harder when the software isn't designed to run or accept arbitrary programs

[Anonymous No.52411999]

>>52409918
Yes... unless you sign a scam Smart Contract or enable blind signing, you should be perfectly safu.

[Anonymous No.52412180]

>hardware wallet
>service
pick one

[Anonymous No.52412296]

>>52405771
If only we could copy things from one piece of paper to another.

[Anonymous No.52412314]

>>52404150
Some anons are so gullible that they give in to cheap scams, they need to connect their wallets to privacy protocols so that the bad actors will not have any information to work with

[Anonymous No.52412643]

>>52403881
Then at least YOU KNOW WHO.

[Anonymous No.52413799]

>>52403881
No proprietary server on open source trezor
Inb4 you only need a fully crypted Linux offline phone without broadband blob
Inb4 FCC targeted individual

[Anonymous No.52413989]

>>52405771
>bank vaults are unsecured from theft
lol
lmao even

[Anonymous No.52414098]

>>52405771
>Not laminating paper

[Anonymous No.52414199]

>>52410921
Biz should read more Pol desu

[Anonymous No.52414221]

If you don't store your wallet in a faraday cage you will lose everything if we get another CME like the Carrington Event of 1859

[Anonymous No.52414268]

>>52408235
because it's a meme not worth taking seriously

[Anonymous No.52414318]

>>52410921
Kanye was right.

[Anonymous No.52414357]

>>52405771
You can buy these metal stamping kits to preserve your seed prhase right on Amazon (in USD of course). You know, like how the first millionaires of the 1849 gold rush made their money from selling shovels and pickaxes.

[Anonymous No.52414558]

I have lots of Link tokens

[Anonymous No.52414782]

at its core, a wallet is basically a public/private key pair. (google pgp)

you use your private key to sign transactions using somebody else's public key.

the private key never has to touch the internet. you can keep it on flash drives, hard drives, etc. and simply sign transactions using an offline PC booted from a liveISO or whatever linux distro you want.

once a transaction is signed, move it to an internet-connected PC and do whatever bullshit your crypto requires to update the blockchain.

want your private key encrypted at rest in-case your media gets stolen? encrypt it using a passphrase before writing it to storage.

i don't even buy/trade crypto and I might be getting some details wrong but this shit is fucken asymmetric key encryption 101. If you can't in2 the basics of SSL, certificate signing, etc, you should stick to fiat and worship FDIC for the sake of your own dumb ass.