5 Things NO ONE KNOWS About Hardware Wallets

In this video, we're going to reveal the top 5 things no one knows about hardware wallets! Whether you're considering buying a hardware wallet or you already have one, it's important to be aware of common misconceptions about these devices. We'll be explaining how a hardware wallet is different from a software wallet, where your coins are stored, whether your crypto is safe from hacks, when to get a hardware wallet, and how multisig wallets work. Don't miss out on this valuable information that could help you protect your cryptocurrency investments - watch now to become a hardware wallet expert!

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#Bitcoin #Crypto #Hardwarewallet

Intro 0:00
What is a hardware wallet? 0:20
Where are my coins? 1:33
Are Hardware Wallets Safe? 3:40
When Should I Get One? 5:39
More Security 7:12

[exodus]

Hey, Rhett! Thanks so much for the shoutout and for being a part of the Exodus ecosystem 💙. There are many improvements coming in our bi-weekly releases 🚀 - BT

[slapstick_]

I have 3 different hardware wallets. No copies but all different seed phrases, stored in multiple locations. Funds is devided equally.

This might seem like an overkill, but it helps me sleep at night 👊🏼

[skyhackerfpv]

Great overview of hardware wallets! And the multi sig bonus content was top notch. Thank you!

[kevinswiney]

Thank you Rhett. Ive used Arculus a few years with zero problems but recently ordered the NGRAVE ZERO. Im an old school vet in the space but obviously still learning because I had no clue about multi sig. Will find out if Arculus and NGRAVE support it and look for a 3rd to implement a 2 of 3 setup! Thank you man!!!!

[vegasvato]

Now that Ledger has admitted there has always been a back door in their wallet, which is contrary to their claim to fame of being completely secure, , , Is anyone talking abouot getting refunds or taking legal action for consumer fraud???

[et]

1- how can avoid the FTX collaps while in Binance
2- how the whole ecosystem works?
if I want to buy more? or if I want to change to stable coin? how does the ecosystem of managing it

[gregt]

Thanks for the video. Just curious, how do you feel about having a single HW wallet but using multiple "25th words" to segregate funds for better security? I figure this is better than having everything in the same wallet, but maybe not as good as having multiple wallets. But, on the other hand, multiple wallets introduces a lot of complexity. Thoughts?

[DrinkTheCoolaid]

Hey Rhett. Here's a question about software wallets. So let's say a person has 2 software wallets on their phone, for example, exodus and trust wallet (these wallets have access to the same multi-coin wallet). Is that 2x as risky than using only one software wallet on the phone? Thanks for the great video!

[Fun-divm]

4:55 "Not your keys not your coins" lmfao as he holds a ledger nano get outta here 🤡

[rscott]

I am dumping my Ledger due to backdoor updates and the government could force Ledger to close or defend my crypto. BUT in the mean time I use the Ledger app to view my crypto. Since it is tied to internet, does it make it possible to use my app to trade/send my crypto?

[efbcinema]

when you say reading the balance on your hardware wallet from a companion app does that not compromise the hardware wallet? or are you just inputting the address online and not exposing it fully?

[CaliforniaLloydUK]

Thankyou bro for clearing this up. Thankyou

[AliSercanGüçlüler]

i had once wrote my seedphrase on iphone notes (2 years ago) but few days later i had deleted it. do you think i must change my hardware wallet?

[Josh-pyrq]

Rhett could you make a video please about ledger bitcoin university was talking about how ledgers code is private and not public which is concerning could you cover open source vs non open source and any issues that could come of this?

Thanks 🙏

[frankmajor]

Rhett great site just subscribed Im a newbie looking at a nano x good choice in your opinion??

[yourdailyblockchain]

Thanks for the vid - is it worth having multiple Trezors?

[sothatslindsey]

I’m still learning about this but when you put your crypto on the hardware Wallet like 1000 bitcoin That 1000 just stays on the Wallet ? And you can just keep adding more

[Renerator]

EXCELLENT vid my man! I don’t know how many times I’ve seen people make comments on Telegram where people say “I have all my Elephant Money safely secured in my Ledger.” When I tell them it’s not in ur Ledger it’s on the blockchain, they poo poo me. Funny shit. Again, loved ur vid! I’ll keep it as proof!

[JB]

I have never seen anyone talk about this, but your video made me think of it. Could someone just add their same seed phrases to three different ledgers? Then keep one at home, one with a relative, and the other in a safety deposit box? Then if anything happens to any one of them, you could use one of the others to transfer the funds to another wallet and start over with a new seed phrase. Seems like that would be more secure, increase availability, and lessen the stress of protecting seed phrases from disaster or theft. 🤔

[kaifae]

I generated private keys on a new keystone 3 hardware wallet, then used those private keys to recover the wallet on a software wallet, and was able to send and receive BTC without having to use the keystone device to sign transactions. what did I do wrong?