Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[wilsnico]

Good day, this year we have experienced several times that keys and other important data from online wallets like Coinbase were stolen.
I myself have a satochip hardware wallet.(satochip.io)
I can open a lightning network connection with my wallet and think that this is also possible with other hardware wallets.
This option is why the excuse that the transaction take too much time, wiped off the card and my key is only accessible to hackers when the connection to the lightning network is open.
My question is, is it not good to change the system so that everyone should have a hardware wallet to avoid such massive hacks ?

 

[wilsnico]

My experience with wallet is quite different. I uninstalled the wallet from my smart phone and when i did install it back and fix in my keys, I could not find any of my coins again. Still don't understand what happened till date

Some wallets like the Atomic wallet have a key of the wallet as a whole (All coins) and you can also get the key of each single coin.
There is a great chance that you just got and introduced the key of 1 coin after re-installation and not the key of the complete wallet .??

 

[wilsnico]

My experience with wallet is quite different. I uninstalled the wallet from my smart phone and when i did install it back and fix in my keys, I could not find any of my coins again. Still don't understand what happened till date

One key for different coins ? ??
This cannot be and when this is the case, it means that the company of the wallet stores the keys of each coin on their server.
Not really hardware wallet, but a online software wallet on a super unsafe hardware support .
My hardware wallet doesn't have one key but 4 keys of the 4 coins that are on it and every new other coin gives its own key that is encrypted on the hardware.
It does not mean that when a software wallet is installed on smartphone or computer that it becomes a hardware wallet.
When you only have to enter one key for different coins on different blockchain networks that are totally different, it means that you have just received a key that loads the other keys form the online server of the company and then imports them into the wallet.
Not your key's not your money !

 

[highspeed]

Good day, this year we have experienced several times that keys and other important data from online wallets like Coinbase were stolen.
I myself have a satochip hardware wallet.(satochip.io)
I can open a lightning network connection with my wallet and think that this is also possible with other hardware wallets.
This option is why the excuse that the transaction take too much time, wiped off the card and my key is only accessible to hackers when the connection to the lightning network is open.
My question is, is it not good to change the system so that everyone should have a hardware wallet to avoid such massive hacks ?

In my opinion, the answer to your question is: Yes, there should be more hardware wallets. They definitely guarantee more security than any other free online wallet. At least that's what I think. Although I know that nobody likes to pay ...

 

[candybutcher]

Guys, can you recommend me some good hardware wallet, when storing multi cryptocurrency?

 

[Bousine00]

Good day, this year we have experienced several times that keys and other important data from online wallets like Coinbase were stolen.
I myself have a satochip hardware wallet.(satochip.io)
I can open a lightning network connection with my wallet and think that this is also possible with other hardware wallets.
This option is why the excuse that the transaction take too much time, wiped off the card and my key is only accessible to hackers when the connection to the lightning network is open.
My question is, is it not good to change the system so that everyone should have a hardware wallet to avoid such massive hacks ?

I think everyone should have the two of them. Reason being that no one knows what may happen anytime. You can't place all your eggs on one basket.

 

[microunit]

It would be actually hard for some people to get hardware wallets, and hardware wallets are susceptible to force of nature damages so it is not that convenient for some people

 

[highspeed]

Guys, can you recommend me some good hardware wallet, when storing multi cryptocurrency?

Hi my friend, You see that I haven't yet very clear the concept of hardware wallet. But in this period I heard a lot about Binance.

 

[SCAMEXPOSER]

Hi my friend, You see that I haven't yet very clear the concept of hardware wallet. But in this period I heard a lot about Binance.

Hardware wallet is not a wallet that operated with the use of internet but keys, they are secure to an extent compared to online wallet.

 

[highspeed]

Hardware wallet is not a wallet that operated with the use of internet but keys, they are secure to an extent compared to online wallet.

I see. I'm sorry but as you can see, I didn't quite understand the meaning of hardware wallet.
And then: Paypal is a payment method, while Binance, like Bitcoin and Payeer, are simple wallets.
Instead, these Hardware Wallets are offline electronic devices, which guarantee much more security with the use of encrypted keys.
Did I understand correctly now?
Thanks for your explanation ? ?

 

[SCAMEXPOSER]

I see. I'm sorry but as you can see, I didn't quite understand the meaning of hardware wallet.
And then: Paypal is a payment method, while Binance, like Bitcoin and Payeer, are simple wallets.
Instead, these Hardware Wallets are offline electronic devices, which guarantee much more security with the use of encrypted keys.
Did I understand correctly now?
Thanks for your explanation ? ?

Yeah, Binance is an exchange platform operated with the use of internet, PayPal is a software base wallet likewise Payeer too.

 

[highspeed]

Yeah, Binance is an exchange platform operated with the use of internet, PayPal is a software base wallet likewise Payeer too.

Indeed, then now I sould have understood better. And so neither of these two is a hardware wallet.
However I have also heard that, there are also hidden scams among these HW wallets!!
Perhaps the unknown ones.

 

[Borax]

In as much as these hardware wallet for keeping your cryptocurrencies coins and tokens are by far more secure than their online counterparts they often cost a fortune.

 

[wilsnico]

I see. I'm sorry but as you can see, I didn't quite understand the meaning of hardware wallet.
And then: Paypal is a payment method, while Binance, like Bitcoin and Payeer, are simple wallets.
Instead, these Hardware Wallets are offline electronic devices, which guarantee much more security with the use of encrypted keys.
Did I understand correctly now?
Thanks for your explanation ? ?

hardware wallet should not specifically be an electronic or other high-tech device. I have the key of a bitcoin paper wallet that anyone can create for free engraved on stone in hieroglyphics like the Egyptian pharaohs. The problem is not which support keeps the key, but witch support can like the crypto money itself keep the key forever safe against teft or natural decline/accident of the used support . Online wallets are only for lazy people that likes paying lots of fee's and security risks for small automated services machines do for them . ??

 

[highspeed]

hardware wallet should not specifically be an electronic or other high-tech device. I have the key of a bitcoin paper wallet that anyone can create for free engraved on stone in hieroglyphics like the Egyptian pharaohs. The problem is not which support keeps the key, but witch support can like the crypto money itself keep the key forever safe against teft or natural decline/accident of the used support . Online wallets are only for lazy people that likes paying lots of fee's and security risks for small automated services machines do for them . ??

Here ok, now everything is clear to me. So the two fundamental factors favorable to the hardware wallets are: security (in first place) and the almost absence of commission fees.

 

[SCAMEXPOSER]

In as much as these hardware wallet for keeping your cryptocurrencies coins and tokens are by far more secure than their online counterparts they often cost a fortune.

Definitely , Nano ledger wallet is a bit expensive though I can't recall the price then and currently but they are no doubt very secure and far from being hacked.

 

[wilsnico]

Here ok, now everything is clear to me. So the two fundamental factors favorable to the hardware wallets are: security (in first place) and the almost absence of commission fees.

Commission fee's hardware wallet:
You are not obliged to give a tip (fee), but if you do not give it, your transaction may remain in the pool and will not get on the blockchain network because miners do not earn anything from it and therefore do not check the transaction.
You don't pay extra expenses with hardware wallet that you have to pay with online and exchange wallets (minimum fee's)
With hardware wallet you are the bank, you decided what minimum tip (fee) you want to give and you are responsible for the security of your key.
Whichever support you choose for storing the security key of the hardware wallet is your personal decision. (Apparently security does not have the same values everywhere.)
These supports can be different types of support:
Paper, stone, wood, titan, your brain, satochip, nano ledger, .... .
In other words :
Not your key = not your crypto!
Your crypto will probably exist longer than yourself so securing and having this key is very important because probably it will still be there after you are gone. ??

 

[highspeed]

Commission fee's hardware wallet:
You are not obliged to give a tip (fee), but if you do not give it, your transaction may remain in the pool and will not get on the blockchain network because miners do not earn anything from it and therefore do not check the transaction.
You don't pay extra expenses with hardware wallet that you have to pay with online and exchange wallets (minimum fee's)
With hardware wallet you are the bank, you decided what minimum tip (fee) you want to give and you are responsible for the security of your key.
Whichever support you choose for storing the security key of the hardware wallet is your personal decision. (Apparently security does not have the same values everywhere.)
These supports can be different types of support:
Paper, stone, wood, titan, your brain, satochip, nano ledger, .... .
In other words :
Not your key = not your crypto!
Your crypto will probably exist longer than yourself so securing and having this key is very important because probably it will still be there after you are gone. ??

I see, therefore, the cornerstone of these hardware wallets is that they have a high safety factor.
You see, I was asking for information just to know, as of such hardware wallets, I hear a lot about them recently here But honestly, for the activities I perform online, for now I don't need these. Anyway, for now...
Thank you.

 

[wilsnico]

I see, therefore, the cornerstone of these hardware wallets is that they have a high safety factor.
You see, I was asking for information just to know, as of such hardware wallets, I hear a lot about them recently here But honestly, for the activities I perform online, for now I don't need these. Anyway, for now...
Thank you.

It's not only safety, but also money.
For example:
I open a lightning layer with my hardware wallet, make lots of small transactions and only pay a high miners tip (fee) when the lightning layer is closed and all transactions are placed on the blockchain network. This is very interesting for small transactions that are executed in the short term and in this way are brought together in 1 transaction when placed on the blockchain . Certainly something exchanges and online wallets don't want because they make good money (fee's) from those new crypto fanatics who send or trade 10$ or less crypto.
@ the end, it turns all about that they earn small amounts of crypto (minimum fee's you pay for using there sevice) that they sell to others New crypto fanatics for $$$$ to put on there bank account. ??
Use a non-crypto trading platform and see if such crypto banks like coinbase trade there shares with crypto.
You soon will notice that one can only buy there shares with fiat money. ??

 

[highspeed]

It's not only safety, but also money.
For example:
I open a lightning layer with my hardware wallet, make lots of small transactions and only pay a high miners tip (fee) when the lightning layer is closed and all transactions are placed on the blockchain network. This is very interesting for small transactions that are executed in the short term and in this way are brought together in 1 transaction when placed on the blockchain . Certainly something exchanges and online wallets don't want because they make good money (fee's) from those new crypto fanatics who send or trade 10$ or less crypto.
@ the end, it turns all about that they earn small amounts of crypto (minimum fee's you pay for using there sevice) that they sell to others New crypto fanatics for $$$$ to put on there bank account. ??
Use a non-crypto trading platform and see if such crypto banks like coinbase trade there shares with crypto.
You soon will notice that one can only buy there shares with fiat money. ??

i see. Let's say they are convenient, in the first instance for having the possibility to pay less commissions, for fast transactions, compared to other wallets.
Thank you.

 

[Razor1911]

i see. Let's say they are convenient, in the first instance for having the possibility to pay less commissions, for fast transactions, compared to other wallets.
Thank you.

Yes, the fees actually is very less in cryptocurrency. Unless you transact with Bitcoin or any ethereum chain wallet, rest of the coins have small transaction fees.