Thoughts on these for storing ETH?

Thoughts on these for storing ETH?

Just ordered this Nano Ledger S and wonder how easy it is to recieve/send from Coinbase. Is it safe to store a fairly large supply or ETH or BTC? Is there a set gas fee?

Other urls found in this thread:

coindesk.com/information/paper-wallet-tutorial/
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I've never understood the allure of these

If you really need security, your wallet should be cold, which you can do with a piece of fucking paper

If you need it to be a hot wallet then just use your computer and don't be a moron

Sounds like you have no idea what this even is. Literally the whole point of this device is saving the info on a piece of paper.

actually I know exactly what it is

It's supposed to bridge the gap between a hot and a cold wallet

giving you the security of a cold wallet with the convenience of a hot wallet

My point is that it's fairly trivial to have both a hot wallet and a cold wallet

They look sorta cyberpunk so I kinda want it

>mfw i stored my ETH stash on this bad boy and wear it around my neck with the included keychain/straps

I like mine, fairly easy to send back and forth, just need to put your pin number in whenever you send from the ledger. As far as storage its probably the safest option out there, right alongside a paper wallet, definitely safer than keeping your coins on exchanges.

Reminder to always have an offsite backup somewhere lest you get mugged and lose it all like this guy

I just use coinbase

that's what's great about it, somebody can steal it from me but without the pin code or my 24 word recovery passcode, they can't access my wallet.
basketball americans wear fat gold necklaces to demonstrate their wealth, us neets wear ledgers filled with cryptos

> gold ledger necklace

>not using Poloniex
I don't trust my hard drive, is all.

encrypted vps + multiple encrypted local copies

Can anyone tell me what sending is like? Can I move my stash from Coinbase to this thing? There's no complications with gas fees or contracts or any of that mess? Is it that easy?

it associates with a local wallet program like electrum or jaxx

so I have to send it to electrum of jaxx before sending it to the ledger wallet?

Implying they couldn't beat it out of you. You'd just have to hope the nigger doesn't know what he's looking at, which to be fair is probably a safe bet.

what about mist? and im on linux not windows.

please respond. Do I need to send it from Coinbase to Jaxx to Nano ledger wallet and vice versa; Nano wallet to jaxx to coinbase?

I would smash your little faggot stick if you didnt give me the password. Deal with that shit, retard. No big deal though, cuz you broke af anyway amirite.

yea ur right, nothing on my ledger at all tyrone :)

yes you need a program on your computer to send and receive

the wallet is stored on the hardware device

so sending btc to electrum (for instance) will cause the btc to go directly to the device wallet since the electrum wallet IS the hardware device

I thought it comes with some kind of wallet when you first plug it into your computer.

Yeah, doesn't it come with the ledger Chrome wallet? Why would I need a hardware wallet?

Got one for the past 6 months, love it! The team is fast and responsive, they introduce lots of new stuff over the months and the device itself is rock solid! There's a new password manager in beta (use at your own risk for now) and everything is available for inspection on Github. I highly recommend it. I don't trust keeping my keys on a computer anymore.

This:

Is the ledger chrome app the wallet that it uses when you install it? or do you need to download a hardware wallet seperate from it like Electrum or mist and the app just manages it?

Dude you download a chrome extension, plug in your device, enter passcode, select wallet, then the device and chrome extension connect. You press the receive tab and it will show a qr code and address. Copy add. Goto coinbase, find send coin, paste add, confirm, done.

So a hardware wallet is not required then? No mist or jaxx? The wallet is the chrome app itself connected to the device? I just want to mAke sure cause I ordered one and don't want to mess anything up.

No you dont need any other software wallet just the chrome extension. Also i forgot to mention there is a little setup involved in setting up the ledger but it is very straight forward. You are given a list of words you have to copy down and then re enter into the device, it takes 5-10 min, but it is necessary in case you loose your ledger , you use the list of words to recover your coins.

Everything uses the chrome apps. You can install the chrome app on any computer and plug the ledger right away no other config required. You don't need any other software wallet. You can use electrum if you do lots of tweaks but you don't need any extra software.

Can someone explain the piece of paper thing?

So my crypto is on Coinbase currently. How do I "store" my crypto on a piece of paper?

why don't you just use an ordinary flash drive with encryption?

The hardware wallet is the device in the OP picture.

Go watch a intro video of how a blockchain works. You never have a coin, you have a key pair that proves you are the owner of the "coin" that lives on the blockchain. So in essence a paper wallet is a long password printe on a piece of paper usually in the form of a qr code.

google is your friend son
coindesk.com/information/paper-wallet-tutorial/

Your private key never leaves the hardware wallet. It signs the transaction on the device. It decreases the likelihood of a copy paste attack by showing the send address on the device. It auto wipes after three failed passwords.
There is three very good reasons why.

Thanks bros

So I can just send ETH directly from the chrome all to coinbase and vice versa? No complications I need to know about like syncing a blockchain or anything like that?

I know it's spoonfeeding but I really don't want to mess this up.

No worries. You dont have to wait for any syncing. And its extremely simple. If you can copy paste a string of text you can use this device.

If you smash it he can still recover his coins, he'd be out $80, not his crypto.

I'm going to snag one of these next paycheck. I don't like leaving my ETH on exchanges

Is it safe if i just have wallets on my computer? DO i really need one of these devices? I plan to backup onto usb, 2 hard drives and just forget about it for a few years. Will that be ok?

That is a huge relief. Thank you for this. Also do you have experience sending to and from exchanges and how long did it usually take? Should I send small increments at a time or send the whole load?

Yes I do. Its always a good idea to send a test tx. If you are buying from coinbase i would recomend buying LTC or ETH because it will be much faster and the tx cost wil be much much lower.
The screenshot is me sending ETH from Coinbase to my ledger You'll be able to see how easy it is.

So if I have a desktop wallet like Electrum. Is it easy to send the coins from coinbase to wallet and vice versa?

How do you do it?

>do not send ETH directly to an Ethereum contract

What does that mean?

I Dont have a desktop wallet, but it would be just as easy.
I assume it's more prudent to send to a contract from a addr. you locally own.

I just ordered mine, should be getting it mid June. This has been after holding my crypto on coinbase for a year now.

as easy as it is to do any bitcoin transaction
send from an address to another address
learn2bitcoin

same actually. All these horror stories convinced me to go cold storage.

No it's not you dumb shit.
Looks cool as hell.
Who else do yoou know with a crypto wallet?

I still don't understand what happened to the guy desu, I figured 2FA and an encrypted password would be fine barring the actual site getting hacked.

what happened?

Lost like 6 figs worth of coins on CB

kill yourself, you aren't helping anyone