I've had it a month and I still don't understand what it does
I've had it a month and I still don't understand what it does
It stores your private key. Even you cant get it out of it. It only spits out signatures with the right pin code.
do you even google, brainlet?
You use it to lock your price in
>he uses a hardware wallet
>I've had it a month and I still don't understand what it does
The state of most crypto.
You use it too price lock your bitcoins, I locked mine at 19k USD ea, I'll sell them soon to buy the dip thats coming up.
Save yourself and leave crypto.
Your coins get stored inside the ledger dude
Doesn't wallet encryption do the exact same thing?
>haven't locked in his bitcorn buy orders at $6k
Wow, you should seriously consider killing yourself, i have 2 of these and a trezor, the trezor is easier. but ffs if you can't figure this out you must be old or dumb, so much info online. I don't think you should be buying crypto! if you can't get this no hope at actually securing any of it!
Do you have the box your Ledger came in?
Carefully pack it back into the box and return it to the vendor. You're not allowed to own one.
How does the price locking work??
First, you have to install the blockchain during start up. After that is completed, you need to click the start button 3 times. Care must be taken when doing this, however, as the incorrect sequence will reset the entire blockchain.
Serious question, why not just use the free wallet software and encrypt your wallet?
>lock in bitcoin price
>come back 6 years later
fucking retard op
Why did I buy this piece of shit? I feel like I got trolled. I could barely even understand the French-English accent on the tutorial video.
Do I even need to download my coins to the Ledger? I have my coins on Independant Reserve, what the FUCK is the point of downloading them to the ledger? Nobody is going to steal my coins in the first place, I have a username/password and phone verification.
I was like that too user. But then I bought one and its actually very good.
i bought one 2 months ago but haven't even opened it lmao, i just keep everything on exchanges
Why not just encrypt your wallet on the free software though? Why pay all this money when it is a part of the free software?
I just keep most of mine on metamask. Is there anything wrong with doing that?
I just keep my private key engraved in a cave wall approximately 150 kilometers northwest of Cusco.
Great idea lmao
Why did you buy something you aren't even close to understanding?
You really should not be asking this question, you really need to do some reasearch!
What if you have a virus, keylogger, etc...
you can plug this into any computer and transfer funds around, just make sure that address is correct and not changed by a man in the middle attack. highest security, i would say that even linux MIGHT be compromied with the intel issue. All it does it store your private keys.
part of the reason why crypto is good is that you can control your own funds, you must deside the best way forward.
wrong, try again
Can l lock my IQ in it?
the worst kind of 2 factor
DUDE seriously your so fucked, you really need to stop posting here and use this thing called google. Your a 10/10 tard. ffs you don't know shit. Not sayin i know all, but DAM, you deseve to lose all your crypto. you are putting your trust in exchanges ovioulsy. you have no hope of encrypting anything if you cant figure a leadger out
I prefer to call it master-baiting.
This lmao, these retards actually think their funds are software on a fucking overpriced USB trash drive instead of on exchanges worth billions of dollars that have teams of security experts like binance and coinbase
I would also like to know
are safe, fucking autocorrect
harder to buy here in the EU than a decent GPU.
how new are you?
yes but a usb drive won't suddenly tell you "withdrawals suspended" for no reason
>put bitcoin in
>lock in price
Sell off bitcoin at Dec/Jan prices... What is so hard to understand?
It locks your prices dummy.
It lets you lock in your BTC price, you can now with ETH and LTC after the new update
pretty much the only thing it useful for
that's what everyone thinks that buys it and it's hilarious
No because if you have the correct password, anyone can access the private key. With a hardware wallet, you can't directly access the key.
You store them on the ledger, then the price gets locked in with it.
If you sell them a year later, you sell at the price you HAD when you stored them. It’s not that hard if you’re not a complete retard...
>why can't i use wallet encryption
>why can't i use a flash drive
>why can't i just use metamask
>locking price is just meme
the lack of understanding of blockchain and security in this thread are astounding. No wonder so many people get crypto stolen and scammed.
to late to lock mine in 19k ?
mine was on back order and took 4 weeks to get here. i think i should be honored the price i was deffinetly going to lock in if it just would have been here already
How does locking in even work?
You lock the price of your coins and it stays the same even if the market goes down.
Problems like these for normies are why I know they havent all flocked into crypto like most of biz believes other than trading exclusively on one of a few onboarding exchanges. Normies dont understand how to even use hardware wallets or send/receive funds without their hands being held.
When crypto gets adopted by the world banking institutions will just offer accounts for their customers to hold cryptos of their choice, effectively ruining the point of crypto. The jews will win again, because normies cant into learning.
So be a good goy, store your money with the banks
i am selling mine locked in at 19k if anyone is interested
Lol you bought something you don't understand? Can you please show us your portfolio, I need a good kek
not that user, but I'm still not understanding how you can lock the price in.
why would it not sell at current market price? does this mean that if people locked in @December's $20k they could sell btc now for $20k?
surely everyone can get rich with this, assuming new ATH on the horizon?
ledger seems creepy and weird
Yeah I don't get that either. Are we just dumb?
>surely everyone can get rich with this
It works both ways though, so some people actually missed the big rise from 6k to 20k because they locked in too early.
if it's anything like selling in a locked price on the exchange, you'd have to wait for someone to buy it. Nobody is going to buy bitcoin for 19K when it's 9K.
If I'm wrong anyone please educate my dumbass
But how can you sell the coin at a price point that buyers wouldn't be looking at?
the fucking state of Veeky Forums
The point is to never store (not even temporarily in RAM) you private key on your computer. With this, at no point ever your pk can be taken by a keylogger/ram scanner or whatever.
It's security by isolation.
JFC I cant tell anymore if people are larping or not. I dont know if I should even bother helping
Because im not a poorfag
If these people aren't larping it worries me that they've probably got a significant amount of their wealth invested in something they barely understand.
Do any of you actually enjoy this unfunny may-may?
this is literally the first I've seen this device, so I'm asking genuine questions.
Who is going to buy btc that was locked in @ 20k when the current price is 10k?
lmao do some fucking research on the topic
the value is retained BECAUSE of the locking process. why dont you buy some stocks or some shit numbnuts
You set the inherent price of the bitcoin you store in the hardware wallet to the price where you lock it at. You decouple them from market fluctuations.
leave him alone
>yah, but what does it do?
IT FUCKING MOONS, MOM. GOD!
You can't enter negative numbers
>locked in at 4k before dimon FUD
>updated to firmware 1.3
>can't unlock across different firmware versions
>can't downgrade to 1.2
It essentially converts your BTC to USDT keeping the price locked in until you transfer it back out.
So if it breaks you're fucked, correct?
thanks - that makes sense. appreciate it.
thanks for trying I guess
I always wonder this. It's purely to troll newfags i guess, but other than that you have to be retarded to find this meme amusing
No, you can buy a new one and recover your wallet with seed.
Ok let me be the nice guy here There is no such thing as a price lock. It is a wallet and that is it. No the coins/tokens are not on there, they are on the blockchain.
Nice Dunning-Kruger, brainlet.
Thank you, fucktard.
i fucked up and only locked my btc price at 16k but now i'm so far ahead
Holy shit are they really $120 now??? I bought mine for $60 a while back.
Lol yeah the price increase is real.
I bought for like 70 bucks including shiping.
They cranked it up real good when the hype started.
Are you fucked if you have 1 and it breaks or your house burns down or it gets stolen?
Now I've got to buy another one of these bitches
SHIT i haven't locked the price in on mine yet
You write down the seed phrase to restore it
You can also restore your coins to any non-ledger wallet just as long as you have the pass phrase handy.
Your coins are literally stored on that stick. You need to connect it every time you receive something. If you lose the stick all your coins will be gone! Also keep using windows, it's the most awesome system and make sure you are admin.
Yea you have to specify you want to lock the price by clicking the lock icon in the wallet manager
It gives hackers another vector to take your profits
if you understand how seeding works then you won't need a ledger
When will you be posting your Youtube review
>the absolute state of this board
And what vector is that?
the device gets wiped after 3 failed attempts
the only thing i can imagine you're suggesting is that the hardware is compromised , but then, your wallet software could also be compromised - or do you independently audit the codebase of every wallet you use?
Why not just buy a cheap laptop for $50 to store your keys tard boy
you'll be unable to use that computer to transfer funds as an internet connection would make it insecure. it's not portable. and have fun dealing with change addresses.
Do you understand how never exposing your private key works?
The seed is not what gives the ledger its utility.
Also, how exactly is a hacker going to attack it? Please enlighten us since you apparently hold some arcane cryptographic knowledge that the rest of us are not privy to.