Should You Convert Your Ledger To A Paperweight?

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In this video, I discuss the latest Ledger security breach, as well as Ledger's long history of hacks and poor security practices.

Avoid altcoins and their scammy ecosystems.

Also avoid hardware wallet companies like Ledger that provide support for scammy altcoins and thus increase their own attack surface.

Serious Bitcoiners should never use a Ledger, but instead consider a Bitcoin-only hardware wallet like the Blockstream Jade or Coldcard.

Not investment advice! Consult a financial advisor.

Blockstream Jade hardware wallet:

Coldcard hardware wallet:

Don't Use Ledger Hardware Wallets:

Ledger still supports a lot of garbage coins:

Celsius founder arrested:

Ledger data hack:

Ledger Live Tracks and Sends ALL User Information to Outsourced Data Harvesting Service:

Ledger firmware is not fully open source:

Ledger Connect Kit Exploited:

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#ledger
#crypto
#bitcoin

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[RONIN_SATS]

One could potentially use the Ledger as a decoy device. Leave small amount on it. If you are robbed / threatened then you give them the Ledger.

[YouTubeDon]

Great topic, I was looking at my ledger live last night thinking why do I have it here when I just bought Blockstream Jade. The stickiness of learning how to use a new product is real. I am going to get it over there, thank you and Happy Holiday to you and your family.

[Tizou]

That’s my issue with Crypto. First I was told ledger. Than I was told trezor. Then I was told cold storage wallet that you can only order on the dark web and make sure that you sell your soul to keep your BTC. It becomes so complicated. And everytime I end up getting on of them, they somehow get exploited. I know you’ve put a video up before. But it would be great to have an update video on the best way to HODL/protect your BTC. Something step by step that can help us.

[rsheridan]

I do so look forward to my Daily Dose of Bitcoin University videos, not only do they contain serious, informative and valuable educational material. I often laugh out loud at the wry SOH that they contain. Well done and big thank you Matt🙏👋

[AAPNL]

I bought a ledger right before the ftx implosion. Then the news came out ledger launches a service for seed phrase recovery. I never opened the box the moment it arrived. Looking forward to your blockstream jade and coldcard videos since my btc is in a hot wallet atm.

[Jay-szvz]

Just ordered my Jade today. I will wait for your set up video before I open it! Thank you for all your videos!

[michaelhume]

I asked for a Coldcard for Christmas. As a Ledger & Ledger Live user, it couldn't come soon enough. Appreciate the recommendations for Sparrow and Coinkite.

[DestructorEFX]

Good morning Mattew, how are you? I have a question about Blockstream Jade, it doesn’t have a secure element and uses oracle-enforced PIN protection that connects to a server, that sounds weird to me. So if Blockstream goes bankrupt, would the Jade HW stop working?

[marymyers]

Do one on how to transfer from Ledger to Jade. I'd like that! Keep up the great work.

[weepz]

I look forward to you Blockstream Jade video, I have a Ledger, Bitcoin only. But now slightly concerned... Also moving funds from one wallet to another I've seen quite big fees. 😬😅

[robbieatkinson]

Easy for you in Canada and US to buy another device. Here in europe Croatia they sale only Ledger and Tresor 1.. They both send analytic data as confirmed by same source. When I connected Sparrow to import 2nd account from ledger HW it gave me different receive addresses than in LL. This is all getting more and more complicated to own and keep safe.

[sburke]

The sarcasm 🤣 we need more of this spicy flavor from you Matt

[InAVanByTheRivr]

I picked up a coldcard but found it a bit intimidating to set up. Looking fwd to this up coming vid as i hqve been procrastinating moving my btc

[omarlopez]

I bought the block stream jade and the Bluetooth connectivity was very bad every time I tried it would not connect after purchasing Bitcoin and trying to send it to my jade I do not like that feeling of making quick moves in a emergency and being stalled out it happened over and over again even waited almost a day until it worked to much time to think about my money . Still have it . But not off to a good start .

[danielsmith]

I’ve always found Ledgers material in the box saying “trust yourself” really odd based on their product.

[Rein______]

There is no way the chip in the ledger can access your private key without confirming by pressing buttons. Once confirmed on the device, the chip gains temporary access and simly performs the requested cryptographic operation, whatever operation that is. It could be signing a transaction, or generating the shards for ledger recover. So is there a backdoor? No, it simply does what you want it to do after confirming. It cant spontaneously do something, not even when your PC is hacked or is taken over. At least, this is my current understanding of the situation.

[pshyeah]

I bought the Blockstream Jade! Thanks! Switching from Ledger for good! 👍🏻

[jaegyugwak]

Your sarcasm is of a top notch. Wonderful

[muruks]

How does one use the ledger hardware wallet with sparrow wallet instead of ledger live?