/biz/ - Business & Finance

>>49386777
checked.

ledger live is pretty cool. and the device is pretty easy to use. i bought one after i got a moonbirds nft. ended up selling it. now i have about $40k usdc sitting in it til i figure out what to do. i will keep it offline

overall recommend!

and to prove im not a shill. i hate fags and jews.

>>49386777
i want one but i've read horror stories about packages being intercepted and bugged/hacked etc checked

>>49386777
their Bluetooth is complete shit and its next to impossible to connect to my iphone

>>49386868
I always wondered, when you have so much money in crypto can you just sell it and withdraw it to your bank account with a two clicks of a button? Surely there must be more to it

>>49386777
I don't get hardware wallets.
How is it better than Electrum wallet on my separate PC? In both cases, I just need to keep my seed phrase safe.

>>49386922
i honestly have no idea. im scared to withdraw it all. i feel like the gates will close on me and lock my money up. so i'm going to use half to DCA. And the rest will be for taxes, and just pulling out small amounts like 200-300 whenever i need it for bills in the mean time.

>>49386895
i've heard that too. but they say to just get it from the website. and before doing anything, make sure it works, run the diagnostics, then reset the mnemonic phrase, and you should be good. keep it completely offline.

>>49386971
probably extra paranoia? marketing? if you have a good system and keep your electrum wallet PC and private key safe. you should be good. i like the ledger so far though.

>>49386971
The upside to using a hardware wallet is you never have to type your seed phrase onto your computer to sign transactions. Theoretically this makes it more secure as if you have keyloggers or your system is compromised in some other way you can still safely sign transactions without risking your private key.

>>49386895
they're tamper-proof. when you hook it up to ledger live it does a authenticity check and tells you the device is genuine.
If someone says they got a "hacked" ledger, what they're actually telling you is that they are a retard and gave their keys out, or they put keys from a hot wallet into it

>>49386922
Most of the time yes, as long as not over $10k it's just two click away
Above $10k they might call and ask whatthefuck but if you use a good exchange like Coinbase they might not even call or calm down after you tell them where you got that deposit from
If it's a shit exchange you'll have to come with proof of funds and shit, and as long you didn't sell drugs it's easy to prove

>>49387316
wow thanks for that. So I can pull $10k from coinbase, and they won't fuck with my bank account?

>>49387342
a lot of countries have a 10k red flag system built into their banking systems. any deposit or withdrawal of 10k is automatically flagged for checking by the authorities, or consideration for checking at least. deal in quantities below the 10k mark if youre trying to avoid attention.

Leaders are a waste of money. You can turn any usb into an encrypted hard wallet. Buying ledger is for lazy people to waste money

>>49386777
Device unneeded.

Ledger Live is trash on the desktop

If you forget to turn off bluetooth you can become an easy target for criminal since they can see there's a ledger near by.

Swaps from the ledger require KYC unless you connect it to metamask. Sometimes this leads to stuck transactions.

Feels cheaply made

If someone has over 10k in crypto it is probably worth it

>>49387133
Can you not do this with a tails live usb + a gui wallet?

>>49388791
I'm 6 figures worth and I never even considered the idea of investing in a ledger but I probably should. I'm just too lazy to do it, but I never had any issues with metamask

>>49388914
retard. imagine feeling safe when your private key is literally stored in a computer connected to the Internet.

>>49386777
Ledger is solid. The only thing I don't like is how they got hacked for customer info, I get phishing emails constantly eversince.

>>49386777
it leaked all my personal info in a globally-available database
my phone number compromised, my full name compromised, my address compromised, my email compromised

in the worst days i would get multiple calls a day, dozens of emails a week (including threatening ones)
also i would get notifications from my email app, i was getting dozens of brute-force attempts on my email daily (all IPs from india)
caused me lots of stress, now it's better but i still get the occasional pajeet call

honestly regretted falling for this meme
just be careful with your crypto computer and don't use shady sites or download weird shit
software wallets can be pretty safe

>>49388849
Yes you can. You can keep your Seed on an encrypted USB and then whenever you wanna send out crypto you would have to physically plug the USB into your computer. Same exact thing as a hardware wallet. They just keep your seed on them and when you wanna use it you need physical access.

>>49388914

Give me access to your computer for 30 seconds and I can steal your Metamask off it and then decrypt it later to steal your crypto.

>>49388967
Same. Wallet is still good but the leak is inexcusable

>>49388958

Ledgers are not solid. They have been hacked already. If your ledger falls into the wrong hands it is not safe.

> But ledgers have been hacked before bro

Nothing is 100% safe and never will. Ledger is the safest thing you can have in crypto if you know how to safely use it. The problem is that most people are stupid, so they always do something stupid that compromises their crypto and then start crying on forums on why they got “hacked” which was not really hack but more like scammed.

>>49388914
yikes, so you are just asking to get hacked huh?

>>49388967
>don't use shady sites or download weird shit
Whelp, time to buy a new PC

>top of the line security company
>doesnt allow shipping to a po box

Yeah, great lol

how can anyone trust a company with their crypto when they leak customers home address to criminals? using ledger is an iq test. If you fail it you deserve what happens.

>>49386777
What happens if I lose my ledger? Do I also lose my coins?
I have my gems there like QANX MOVR ETH

>>49389973
>leak

Inside job, somebody sold the information to the criminals.

>>49390168
No not if you have your seed phrase

>>49389973
I bought mine from Wal mart, nigger

>>49390239
>I bought mine from Wal mart,

That means it could be tampered with and you wont know till they drain the account.

>>49390413
Oh fug for real?

>>49390465
Ya you are not supposed to buy from 3rd parties because they can put hacks inside them and resell them. Then you start using it and put your crypto in there and one day it just vanishes.

out of all the hardware wallets, ledger is definitely one of them

>>49390498
But it’s Walmart I assumed they would not resort to this. I get not buying from random Amazon sellers for this reason.

>>49386900
using with iphone 11, everything fine.
>>49386971
many reasons. your computer can be hacked, hard disk can fail, the motherboard can roast itself for no reason. hardware wallets are safe because in many ways, starting from application level security to seed phrase security. you can use ledger with infected computer and nothing happens because you also need to verify tx's on ledger screen etc.

if ledger device is stolen, they cannot open the device etc.

and of course, new vulnerabilities are found from time to time, but most of them require access to a device with all the passwords, etc.

>>49388967
use yubikey + strong password, but i guess best option is just to use another email.

for address, if you can relocate to somewhere else, it's definitely worth it.

The real answer is don't put all your eggs in one basket. Diversify both the WHAT and the WHERE.

>>49388260
That's hilarious that a few month's rent is worth fucking flagging. What a fucking rigged game this world is, you can't move a muscle without getting lit up.

>>49388967
just buy off amazon and confirm it's legit through ledger live, ez returns and no data leaks (except to amazon but for most people it's too late for that)

>>49388967
>got pwned in the ledgie leak
>getting physical crypto spam mail to my new address
jeets are literally going to hunt me for life because of this piece of shit company

>>49386777
checked & pass. I prefer an android device like pixel 6 with graphene installed. For wallet app it's either Bluewallet or Blockstream Green.

>>49390612
You trust walmart workers ? lmao

>>49386777
It works alright.

>>49386971
Convenience mostly. And that you can easily carry the Ledger around or put it in a fire safe, then later pull it out and use it on an untrusted PC and your seed never gets compromised.

>>49386922
i cashed out 100k through coinbase and i just called my bank beforehand and told them to expect a large transfer
had no issues

>>49391494
I generated my own seed phrase and it was verified with ledger live. How could it possibly not be safe?

>>49389020
The difference is that the private key has to leave your USB stick to pc hardware to sign transactions. The first time your pc reads the USB stick (or you write on it), the data is compromised. All it takes is one second of contact to internet and there's risk. A hw wallet signs txs without the sensitive data ever leaving the device, only unsigned and signed txs move through the USB cable. Paranoid or not, trusting your pc memory to store your private keys, permanently or temporarily, has a very fat risk of losing it all. If you have a decent amount in crypto you NEED a hw wallet or a an airgapped linux dedicated only to signing and storing keys. The $100 hw wallet is a lot easier option than a new laptop. Don't let one autoupdate make you lose all your crypto.

The obvious threat is that your pc has malware that steals the private keys. Some users could be confident that their pc is clean but there could be attacks like a DeFi app or metamask interface getting hacked and when a user does a transaction it shows the tx data the user expects but actually asks you to sign a tx that drains your wallet. With a hw wallet you can verify the tx data like amount sent and receiver address before sending it.

>>49386777
I dig it.

>>49386971

You have to keep an entire PC offline to store your crypto. You can do the same thing with a USB. USB's are offline and only go online when you plug into a PC to send the crypto.

>>49386922
It's that easy

>>49391561
>The difference is that the private key has to leave your USB stick to pc hardware to sign transactions.

No it does not. I know how to leave my Private Key on the USB and still interact with my wallet on the PC.

If you dont know how to do it the way I do it then maybe you would have to take your private key off the USB and put it onto the PC temporarily. But I can just leave it on the USB and sign any transaction from the USB

>>49386777
if you don't have a ledger you're probably poor and ngmi. it's the best way to HODL your bitcoin. all shitcoins can fuck off bc they're useless anyway

>>49386971
they let you access what is essentially a cold wallet and spend with it without having it go hot.
to use an electrum cold wallet, you have to type or paste your private key to spend funds, which makes it a hot wallet. therefore, you have to create a new wallet every time you spend

>>49391554

They crack open the USB and solder in a very tiny board that can bypass its security. Then they seal it back up and sell it to people like you.

>>49388967
what has ledger done to prevent this from occurring now?

>>49391630
Wouldn’t this be detected on ledger live verification? I guess it’s probably not worth the risk.

>>49388260
For ABOVE $10k a report must be generated, but they can report suspicious transactions under $10k and under.
Guess how purposely avoiding reporting requirements looks.
ALL KYC is bad. ALL financial surveillance is bad. All of it. It's your money, just moving it around should not be a crime, if there is a crime it is on the other side of the transaction.
Fuck the financial panopticon.

>>49387270
>they put keys from a hot wallet into it
Can you explain this please? Does this mean I shouldn't withdraw my metamask funds to my Ledger?

>>49391605
Your pc reads the USB's data. If the pc is compromised, malware could read this data too. The data has to "touch" your pc to do the computation of signing a transaction. The USB can't do the signing itself like hw wallets do. HW wallets are built in a way that prevents the keys from leaving the device, ever. You are having false sense of security because you think malware can't see your keys as long as you don't move it to your pc's mass storage.

>>49391575
But you’re not going to store many cryptos offline right? I know of bitcoin wallets, but that’s it.

>>49391830
There are lots of crypto's you store offline in cold storage. You dont wanna leave them sitting on an exchange anyway because anything could happen to the exchange. When you have them offline you are doing self custody.

>>49391801
>put your keys from hot wallets in it
He means that you shouldn't reuse the same seed phrase (12, 24 words) that were generated by metamask because this seed is already contaminated. Only use ledger with a seeds that it generated itself (it gave you new random 24 words). You can (and should) send your crypto to your ledger with transactions. Don't move your crypto to ledger by inserting the seed phrase from your metamask wallet.

>>49391942
Yeah but all I want aren’t available offline. Maybe I’m just ignorant.
It seems only established cryptos can be stored on PC.

>>49391998
It depends on how you acquire the coins. Some exchanges like Uphold wont let you move some coins.

>>49386868
i hope you have a backup of your keys

>>49391605
> Your pc reads the USB's data. If the pc is compromised, malware could read this data too.

its a public knowledge already when you sign a tx, so it does not matter. seed phrase stored on device and signing done by secure element chip. only signature is transferred(that's your tx). even everything hacked on computer, you cant change signature content, you cant do anything with that, it only proves that as address holder, you signed that tx.

>>49391494
you guys are paranoid schizos huh and i thought /x/ was worse, bought one from wal mart and nothing happened yet, cashed out 68k already

>>49392076
Yeah bro just don’t be paranoid so you can kill yourself when your six figure portfolio just vanishes just chillax LMAO

>>49391801
>>49391969
Exactly, this anon got you covered fren

>>49392034
i have written it down on paper and made a few copies. i also made a stainless steel washer ring key. figuring out a way to further hide it. was thinking of putting it in a glass bottle and burying it somewhere. or put it in a false book.

>>49392024
Aren’t there wallets like for ERC20 tokens or is it just for specific cryptos.
>uphold
Wouldn’t that just have you transfer them to another wallet that allows to use cold storage?

Ledger fucking rocks, the price lock feature alone will have you sleeping easy during bear markets. I still have a bunch of Bitcoin locked at $60k and ETH around $4000. I smile knowing I can sell at any time for these prices thanks to Ledger.

>>49391754
This
>inb4ledditreeee
https://old.reddit.com/r/nokyc/comments/rwltpg/why_kyc_and_aml_are_the_worst_policy_in_human/

>>49392198
So it only allows you to sell during those prices? What if you change your mind?

>>49392149
dont bury it outside. there could allways someone finding it.

>>49392198
based bro, the "blockchain bookmark" feature I think they call that, right?
I locked some AVAX at $100 earlier, going to hold off selling though, hoping we can pump past that eventually

>>49386777
>>49386868
How do I upgrade?

I got the old one and it has like 80kb of memory. KILOBYTES.

>>49392798
uh. does it not work with ledger live? do you have the seed phrase? just buy another and enter in your old seed phrase.

>>49392326

You can sell anytime and Ledger has to buy it at your price lock cost. It's literally a cheat code against the bear market.

>>49394268
That sounds like absolute bullshit.. unless i don't understand, how tf does ledger afford to do that.

Also general question, wtf happens when Ledger goes out of business? And Ledger Live dies?

>>49392139
didn't you read I held, around 68k and cashed out no problem

>>49394922
I’ve had mine from Walmart for almost two years and haven’t had it stolen yet.

>>49395128
exactly it's just anons on here who are a little paranoid, don't get me wrong, i don't blame them, but let's not overreact

>>49392198
This, if it wasn't for locking I wouldn't have one

I have near-sighted eyes and Ledger fontsize is too small. I'm forced to wear glasses so it's not comfy to use Ledger. I prefer naked eyes because it's comfy.

>>49395478
Nerd

>>49394659
>tfw you locked your link at $51

I don't trust them.