Why Bitcoin-Only Wallets Are Best

Get the "Ultimate Guide to Bitcoin" course:
Use the discount code YT99 to get the best price.

In this video, I discuss why Bitcoin-only hardware wallets are best.

Hardware wallets that support 6,000 shipcoins/altcoins need to have much more complicated hardware and software than wallets that support just BTC. This increased complexity results in a much wider attack surface, which makes the wallet less safe for ALL coins.

By contrast, Bitcoin itself has extremely good native security, both for single sig and multisig, which Bitcoin-only hardware and software wallets can leverage.

I cannot recommend any altcoin wallets, because I cannot recommend holding altcoins at all.

Not investment advice! Consult a financial advisor.

My favorite two hardware wallets:

Don't Use Ledger Hardware Wallets:

Ledger Pauses The Launch of Recover Service:

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.

#Bitcoin
#hardwarewallet
#altcoin

Disclaimer
Neither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.

[Bitcoin_University]

WARNING: There are a number of scammers who are using my image and
channel name to try to connect with my viewers on WhatsApp and other
platforms to scam them. Just so you know, I will never refer you to
"my personal trader" or try to connect with you personally to sell you
something. I am trying to ban these scammers as quickly as they pop up. You can
always recognize a scammer by clicking on the image and seeing how
many videos he has. All of these guys have zero videos, while I have
hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter

[rafaljarmuszkiewicz]

First layer of security is listening to Bitcoin University

[pama]

Matthew, I've done all my BTC purchases via KYC.... In a previous video you mentioned you cannot un-KYC your BTC...
Can you make a video around how to improve privacy once all your BTC is KYCd?

[nanunjay]

got myself a jade hardware wallet after watching your videos. thanksman!

[ApolloHubEZ]

I love the crack pipe analogy! Made my day with a good laugh, thank you Matthew!

[un-confiscate-able-money]

“What kind of pipe i should use to smoke crack” 😂😂😂😂

Just don’t smoke crack!!! Hahhaha

[peakoilnews]

A year or so ago I wanted to sell my ethereum because I could tell the market was about to tank. I had my Trezor on me as I was traveling. Well Trezor updated its ethereum wallet and wouldn't let me access it unless I installed the update. I did so and it crashed, bricking the Trezor. I could not access my bitcoin or anything else on that wallet. I eventually was able to get access back when.I got access to my seed -- after the market had already crashed. Stupid. Here is the thing -- the ethereum network is so complicated that it is constantly demanding these kind of updates. -- and with each one is a chance for something to go wrong.

[socalglassvideos]

Thanks for clearing up the questions about Bitcoin-only wallets. I'll be looking at your two suggestions as soon as I can. 👍👍

[jasonf]

He is ABSOLUTELY correct. I spoke with James Lopp and asked why couldn’t Ledger just have done a simple multi-sig service for the same price… two ledgers… still gets the service revenue…. Easy. But why didn’t they? Answer: COIN “SUPPORT.” If ledger did a multi sig they’d need to support the 1000s of shipcoins too. Operational risk. Security risk. Matt is correct - a BTC only wallet is actually significantly safer, literally. That said, would love to see BTC only wallets offer multi sig services at some point. Vertical integration would be a value-add to all for those slightly outside of being able to do it themselves fully.

[BobE_Nagesh]

Thanks for all of your great content Matthew! As of a couple of weeks ago, I am a Bitcoin Maxi (sold all of my eth). Now I just need a few Cold Cards!

[opaherbert]

If you don't want to invest in a HW wallet, just use Electrum or Sparrow wallet on a up to date OS and create the seed phrase while being offline from the internet and jot the 12 (24) words down on a piece of paper. To receive BTC, use the xpub of the wallet and create another watch-only wallet. This watch only wallet (xpub) allows you to generate new receiving addresses and can be online like a hot wallet. No risk to expose your seed! To spend, you can just go online while broadcasting a transaction signed with the wallet that has the seed phrase!

[OMGWUNSIU]

😂😅❤❤❤ Good info AND hilarious! I like this video so much I hit subscribe button twice! Just kidding, keep up the quality videos please. Thanks Matthew

[ExpensivePizza]

People seem to forget that the reason hardware wallets where created in the first place is so that you don't have to store your keys on your computer (or someone else's computer).
Why don't we want to store our private keys on our computer? Because our computer has lots of other crap on it that may or may not be safe.
You want your hardware wallet to do one job and one job only.

[jacquesdutoit]

Thanks Matt! Keeping the BTC community safe

[automated-yiux]

Matt, you should make a video on Quantum computers and how it will affect bitcoin, wallets and how to prepare

[summerbreeze]

Thank you sir❤
My blockstream jade delivery is one the way.
Coldcard MK4 is very complex for me😢

[summerbreeze]

Smoking m-ETH 😂😂😂😂😂
That part got me!!😂

[grey_cross]

What pipe to use to smoke crack 😂😂😂😂 love it. Also never heard the word mETH said out loud, despite me using it all the time on Twitter. I like how you pronounced it, I just pronounce it meth lol

[justinjohns]

Amazing content Matt. Can you please do a video on using Coldcard and Sparrow wallet? Is Sparrow the recommended desktop interface when using a Coldcard?

[MrFooChops]

Perfect timing. Ledger can change whatever plans they had but unfortunately for them they've already broken my trust. I'm in the process of switching to ColdCard. Mathew could you please do a video on entropy as once I receive my CC I plan to set this up since im now more paranoid then ever about any manufacturer ever trying to control my funds