How safe is a hardware wallet?

[Gogol]

Yes and you can delete and reinstall applications easily, you need the app to receive and send. Your coins are saved even though you do not have the application installed.

Nano X is with large storage to have more applications installed and have Bluetooth and the phone app I think.

yepp correct.

 

[awesomewebsites]

Bad guy breaks into your home. Wakes you up with a handgun to your childrens head.

"What's the hardware wallet password"

That's how secure it is.

Thus I keep my money at real banks.

And you will not give them ATM card and pin is they point the handgun?

 

[R4v3nbl4ck]

And you will not give them ATM card and pin is they point the handgun?

If a thief went to the ATM with my card and PIN and saw my bank account balance, he would probably end up giving me money.

 

[achiever2011]

All the big whales use hardware wallets only. If they can store their millions worth crypto in hardware wallets, you should also not be scared.

 

[bartosimpsonio]

And you will not give them ATM card and pin is they point the handgun?

Yea but then they get caught. With crypto they just walk out.

 

[Gogol]

Yea but then they get caught. With crypto they just walk out.

Sure. Have two Ledger nano Ses. One with $1 and one with $1m. When the burgler asks for it, give him the $1 one.

 

[bartosimpsonio]

Sure. Have two Ledger nano Ses. One with $1 and one with $1m. When the burgler asks for it, give him the $1 one.

Robberies are often inside jobs. Folks who know how much you have.

 

[lotsofmoney]

As safe as a locker. Just keep the key of the lock safe.

 

[b1tc0in3r]

I've been a little worried lately since everything is going great imo and find myself perturbed by the fact that so many people are relying on these hardware wallets to store their ETH. These ETH will be potentially worth X times what their worth now and I don't want imagine if a group of black hat hackers find some type of exploit to these wallets. That's why I recommend keeping your ETH out of exchanges and in cold stored paper wallets. If anybody could share their opinions on this it will be greatly appreciated and maybe I'm not the only one.

The only thing bad with crypto is that if your seed gets compromised then all the funds can be accessed from anywhere, so the paper wallet is also not secure, quite a few years back there used to be brain wallets and the security that they provided was also worthless.
The best thing to do now would be to lock your funds distributed in more than one place and keep on moving them from time to time so that if a wallet gets compromised then at least you would still be having other wallets and not all the coins would be lost forever.

 

[bartosimpsonio]

lock your funds distributed in more than one place and keep on moving them from time to time so that if a wallet gets compromised then at least you would still be having other wallets and not all the coins would be lost forever.

That's an interesting idea. I might sell some of my real world shit and get back into crypto in the near future.

 

[eyespy]

it is safer than a software wallet, sw wallets can be accessed if there are information links to where it is saved i.e. a hacked device

 

[shadow2015]

If a thief went to the ATM with my card and PIN and saw my bank account balance, he would probably end up giving me money.

you said you keep around 2g in your account, if I may call on one of your previous posts somewhere in this BHW forest

 

[shadow2015]

That's an interesting idea. I might sell some of my real world shit and get back into crypto in the near future.

I assumed you were already and gave some really profitable hints back in day

 

[R4v3nbl4ck]

you said you keep around 2g in your account, if I may call on one of your previous posts somewhere in this BHW forest

I was joking when I said the thief would give me money.
Yes, it's true: I never keep more than $2k in my bank account.
Everything else is in crypto, including stablecoins.
I'm not rich by any means, but I own more crypto than fiat.

 

[bartosimpsonio]

I'm not rich by any means, but I own more crypto than fiat.

You're on your way to being rich tho

 

[Elvlin]

as secure as your real wallet.
but still better than put your crypto one exchange. if your crypto is not for trading never put it on exchange.

 

[R4v3nbl4ck]

You're on your way to being rich tho

That's my plan!

 

[Elie101]

It's pretty safe, safest thing IMO. Just make sure to not forget your key phrase

 

[SonOfBhw]

Robberies are often inside jobs. Folks who know how much you have.

That's why you don't tell everyone you meet, how much crypto you hold. Act poor, live rich.

 

[R4v3nbl4ck]

That's why you don't tell everyone you meet, how much crypto you hold. Act poor, live rich.

I agree. I know a rich couple who posted pics of their luxury cars on Facebook, and then when they posted pictures of their vacations someone robbed their house because they knew there was nobody home. Never post such things on social media.