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53950083 No.53950083 [Reply] [Original]

finally decided that storing my life savings in a browser extension probably isnt the best idea. Have gotten away with it for years now and worked my way to six figure hell, I would rope if I got hacked at this point.

What am I in for? What kind of limitations does using a hardware wallet impose on accessing DeFi vs using a hot wallet like metamask? Or is everything basically the same except for signing the transactions?

>> No.53950121

>>53950083
bro u can literally use ur ledger w/ metamask ... ive been doing it for years
it is the same exact thing but you need to sign tx's physically on the device (adds maybe 2 seconds)

>> No.53950229

>>53950121
good to know. How do you backup the seed phrase? I guess I need to write it down or something and put it in my parents house or something, in case of a fire?

>> No.53950303

>>53950083
it will take centuries for someone to just guess your seed phrase. You're fine, I have 1 Mil in my mm.

>> No.53950360

>>53950303
>centuries for someone to just guess your seed phrase
right I'm not worried about that, it's just the browser security that I'm concerned about. If someone sniffed out the encrypted PK from my local data they could probably crack the password I have on it within a few days/weeks/months.

>> No.53951283
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53951283

>>53950229
personally its in a box lol

>>53950303
same

>> No.53951327

>>53950083
whats your seed phrase?

>> No.53951417

>>53950303
>>53951283
yeah, it's fine to keep bitch money in software wallets
but if you actually end up with real wealth (8 figures+) you'll want something secure.

>> No.53951470

>>53950303
that's retarded

>> No.53951479

>>53951417
I don't know about you lightweights, but when you get to the big leagues (9+ figs) you'll want to start thinking about steel etchings and multiple locations

>> No.53951498

>>53950303
Metamask is literally unhackable as long as you don't open the front door.

>> No.53951516
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53951516

>>53951417
i am literally using a ledger
reading comp not taught in the village rajesh?

>> No.53951523

>>53951498
fren of mine had their computer give out on them ... rip 400k lmao
i told them to get a ledger for months and they said >noooo i dont need it
they had their seed only saved on that pc so obvi retarded, but still rip 400k

>> No.53951531

>>53950083

I’ve never purchased any digital coin currency. I don’t understand the technology. But is their seriously no one smart enough to some how.. create additional bit coin out of thin air? And before everyone goes saying… anon… it’s impossible… if there is anything I have learned, nothing is impossible with computers.

>> No.53951572

>>53951479
you should be thinking about that even if you only have 6 figures because backups are always important.

>>53951516
>same
>reading comprehension

>> No.53951594

>>53951479
and anyone that has 9 figures has probably left hardware wallets behind and uses the same security protocols exchanges and custodians do. at best hardware wallets are one part of a multisig, but in reality you'll almost never see retail toys in institutions.

>> No.53951598

>>53950083
>finally
OP you didn't lock in your prices? Kek my BTC is locked in at roughly $40k because I got a ledger years ago. Best thing I ever did

>> No.53952359

>What kind of limitations does using a hardware wallet impose on accessing DeFi
Use a burner wallet for that, never use your main hardware wallet for anything but cold storage.
You should never do anything with the main wallet but send and receive, never approve any contract or sign any message whatsoever. Whenever you want to interact with any dApp, you then send funds from your main cold storage wallet to a burner wallet and then mint whatever jpeg or participate in whichever DeFi ponzi you want etc. That way the majority of your money stays safe no matter what.

Stuff like this should be absolute common knowledge with self custody, but people just don't care until they get fucked I guess

>> No.53952463

>>53951523
nice horror story, everyone needs a backup but most wont be assed to spend 5 fucking minutes to set one up

>> No.53952487

>he got the doxx wallet

>> No.53952493

>>53951531
Sure, its possible, but that same capability would extend to cleaning out bank accounts, hacking corporate/government accounts, accessing military assets etc. All at the same time. If SHA-256 was cracked, then its prob just a small step away from cracking AES2. At that point, bitcoin failing would be the least of our worries. But the probability of this occurring is so fucking low it may as well be impossible.

>> No.53952608

>>53950083
>Nigger steals your sneed phrase
>Nuffin personal cracka

>> No.53954142

>>53950229
But a steel wallet on Amazon for $35. Have your seed phrase etched in metal and put it in a safe