CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers. Stay safe 🙏🏻🙏🏻🙏🏻
The biggest scam here is your claim that a hardware wallet is to dumb to be hacked. Everyone who works in IT and deals with security knows that this is a horrible conclusion. In real life the opposite is often the case. Specialised devices with a small user base usually have far more undiscovered weak points than big software as long as said software has an open code base which anyone can review. Additionally if all you have is a hardware wallet you have no redundancy. 4 cheap run of the mill memory sticks storing your keys in a KeePass container or even on a partition with regular BitLocker encryption is as secure as any hardware wallet. Sure it may not have a fancy little screen where you can do the actual transactions, but that's not really relevant.
@@aBoogivogi and also: YOU should be the guy who gets hired to be one of the 'white hat' hackers who gets hired to test these cold-storage systems out. b/c this has been my similar concern/question: don't we have to be online, at some point, to shift our BTC, for instance, from an online wallet to an offline, self-storage wallet?? to a paper one *and/or* one of the offline hardware choices like a Trezor or Ledger option - or whichever one we might choose? and then to later send it via the internet somewhere else? because even if we go offline, we could still be sending some kind of an exploit straight to our hardware wallet. and I've no idea if this guy is getting PAID to endorse one or more of these wallet options - but he also endorses the nightmare that is the Coinbase exchange [the Coinbase Reddit page + other sites say it all, which I wished I'd known about before I recently 'gave in' and signed up with them 😖]. I also have no idea if you, yourself, are pro or con BTC/crypto..but point being: you bring up some very serious concerns, imho. and I had *at LEAST* one of your same signficant thoughts - and I can *appreciate* open source software, depending on the context/situation, of course..but re: THIS kind of scenario: it DEFINITELY seems that 'open source' means that any bad actor could exploit that factor and find a way in..through the back door? the side door?..you get my meaning? and I'm still working that crypto learning curve, for sure..but I'm not certain I agree with the video content that the hardware is safe. b/c it seems that being online, somewhere in the equation, is required in order to transfer funds *to* and *from* a cold-storage hard wallet..or that even a hard wallet, itself, is only minimally, potentially hackable? since it seems ANYTHING is hackable! as I believe Edward Snowden and the NSA have, for all intents & purposes, pretty much proven😐👩🏾🏫
Just wanted to say that was the best hardware wallet explanation video I've seen! Outstanding job on explanation and execution. I teach tracking and tracing Crypto and have seen a lot of videos get it all wrong. You video was spot on! Again, great job!
Tony Moore Just goes to show, today’s young geeks are ruthless criminals. Always trying to hack, steal money, sent viruses. What a generation of garbage people. Why? They were raised in divorced households. Never went to church, no religious training, no social values, no moral conscience. Geeks think steal several million dollars, then set for life. No thought for the human suffering they are causing. People worked hard all their life sweating, then the young geek comes along and robs them. Death to the criminal young geeks! Also, crypto is not easy to understand. Peter Schiff, a smart investor lost his key, hence all his crypto money. Now he hates crypto. Too bad. We need everyone to use crypto, not just the young geeks. We need trainers to show us what to safely and carefully do.
@@thomaspick4123 I completely agree with you, I spent almost a year on crypto currency before getting the heck of it and I have just one person to be thankful to and I'm sure most people are familiar with the great cryptomark 100%
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
man I've seen some of your videos and I just love how you approach these matters without feeding us advertisement, hype or shilling some shitcoin, like most youtubers do, really great informative work, thank you.
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
I need to watch these like 10 times. As soon as he brought up the example of stolen wallet, just use your phrase and move to a knew wallet I got anxious like wait how do you do that..... Ahhh... So much to learn.
Thanks for all your videos Nate. The BEST info abt crypto currency etc...on YT atm. Very grateful that I've found your channel. Will continue watching them daily to learn more abt this topic. Keep up ya great work! Much appreciated! Chuuurrrr!
hey Nr ks have you tried any of the of the hardware wallets yet ? if you havent tried any of the wallets yet then you must give a chance to walahala hardware wallet which is one of the most secure wallets ever. It provides so many features including direct connection to live exchange. Here is the link to their demo account : walahala.com/downloadDemoWallet
Two questions. 1. If the hardware wallet you are using generates the seed phrase at setup could this not be exploited by the producers of the said wallet? 2. In view of question one, would it not be more secure if the user (and not the manufacturer) chose their own 24 word seed phrase using the BIP39 word list? Especially in the case of certain manufacturers such as Ledger who don't provide fully open source code. Personally, call me old fashioned but I still feel paper wallets produced offline using a dedicated PC and printer provide the best cold storage option. KISS
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
Ok a newbie question : what good is a hard wallet if we have a ssed phrase? Anybody with this ssed phrase is able to take control. So why a wallet when we can just have a seed phrase memorized or written in a safe place??
#4 - Another very unusual, but possible, attack is the $5. Well this refers to when someone physically threatens to hurt you with say... a $5 Wrench if you don't hand over your hardware wallet and unlock it with your PIN Code. In order to protect from these kinds of physical attacks certain wallets come with another layer of protection called a "Loaded 45 Caliber 1911".
you've watched too may episodes of *"Homeland,"* [USA version], for sure!🙄🤦🏾♀️ but Carrie *DID* get her computer access back, LoLoL!! because she's too *'CRAY!!'* to be afraid [much more than the extortionist!] & she's brilliant!! *and* I've delayed it for far too long as: I'm about to watch the FINAL episode..and if you've never seen the show, then do yourself a *temporarily-distracted-fom-COVID-19-favor* & take the time to catch up on *all 8 seasons* of it & *buckle UP!* 😁
You obviously live in the USA. In Canada here where I am easier said than done. All though you can obtain a .45 it isn't easy that is for sure so most use bear mace, replica guns, brass knuckles and nunchucks. ✊
@@nicksvaik no, I think Satoshi Nakamoto is actually a group of very, very, veery intelligent people, probably some mathematics, cryptography and IT experts
great video - just wondering say a dude tampers with your wallet and tells you to enter a passphrase on a piece of paper ( 6:28 ) he has your key but how would he start a transaction in this case?? how would he know your account name etc??? is it as simple as entering the password on a new wallet to see what he has? I don't get that part. is the bitcoin address fixed too?
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
O.K., so many questions...forgve me for the dumb questions: 1) Are hardware wallets only for Bitcoin, or can any crypto be transferred to one? 2) How would I transfer my coins from, let's say, Webull, to a wallet? Is that even possible? 3) Once my altcoins are on the HW wallet, will they still be subject to market fluctuations? 4) How would transfer my coins off the hardware wallet & back onto an exchange, say Webull or Coinbase? Thank You!!!
Extremely helpful video. I kept waiting for some basic but key piece of information to be left out but that never happened. Perfect explanation, thanks!
I think its also important to understand that there is no 100% safe method to owning crypto. You still run the risk of losing this hard wallet. It will come down to personal preference in the end.
Great video!! I have one question. How would you fund the wallet with cash. Does the wallet have a platform to do the conversion? What would that fee look like ? Is there a transfer limit? Sorry I had more then one question 😃
This is a great explanation, the only additional question I have is if the coins are currently on an exchange like Coinbase or with a broker like Voyager, earning interest; does a hardware wallet "remove" them from that account? Or do they stay there still able to earn interest, but are only able to be sent from that account with access to the hardware wallet?
The coins change ownership from Coinbase (or whatever exchange) to you so they are withdrawn from the interest earning account. In my account you have to withdraw from the interest earning account to a trading account then withdrawn to your wallet.
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
Thanks for the forecast! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
So from what you are saying, if we have seed phrase, then we don't have to worry about private key at all, seed phase can regenerate private key even if we lost it. I'm I correct?
I just bought a nano s plus. I know I can add as much crypto as I want to this and daily if I wanted to but I was told I should only withdrawal one time from a cold wallet back onto an exchange to sell the crypto and then the cold wallet could be potentially compromised and should never be used again. Is this true?
hi, i am a new owner, I just found out that you need both hands for making transactions, as a stroke survivor i have the use of one hand only, do you think that I could get away pressing buttons with two fingers of one hand?
If the seed phrase is used to create a new wallet and retrieve your crypto. Where is it retrieving it from if it’s stored on the wallet? Is the seed phrase stored on the block chain or is it stored on the companies network? I’m not really clear on that.
Dear champ... can you tell me or guide me or maybe you have some video where you teach & speak about what I want to know... I wonder how to go from a private key to a seed mnemonic phrase.... could you tell me? Regards!
Is there a limit to how much crypto currency value you can store on a hardware wallet? How about the number of different crypto currencies you can store?
do i need a desktop or mobile wallet to be able to use the hardware wallet ? if so how do i put my crypto on the hardware wallet? im assuming you want to transfer it there pretty quick and keep it there accumulating right? also unrelated , is there any crypto banking system where u can build interest on your crypto? curious.
Pretty good video ! In fact it is the best of 5 I've viewed just because of the little graphics used to explain the transactions. Somehow they dropped the ball and quit with the graphics halfway through the video. Dammit! This was on the way to such a great video!
if I dont make a passphrase for a trezor, and someone has my 12-24 words of the wallet - will they be able to access it or will they also need my PIN?? thank you for the video!! very helpful
So if your hardware wallet gets damaged or stops working for whatever reason, you can put your seed phrase into another hardware wallet and it'll restore your crypto into that new wallet?
I'm a beginner in crypto and I do understand the functionality of the hardware wallets, but I still have some questions. Can someone please enlighten me? So, you transfer your crypto coin from an exchange to your wallet for safekeeping. I read that coin base charges you fee for transferring. So, how does that work when you want to trade? do you transfer the crypto back to an exchange so you can trade and at the end of it when you're done and want to secure your crypto you put it back on your wallet? Or do you keep it in your wallet, plug it, and you can trade in an exchange with your wallet plugged and transactions will still be executed and balance will be updated in the wallet?
Not sure if I got this correct. So by "transferring my coins" to my hardware wallet, I'm actually just changing my coins that was associated (not sure the terminology) to a private key/address on my trading company's system (which they maintains) to a new set of private key/address that is on my hardware wallet? And to send it back to the trading company's system, I would send my coins back to the original said address?
Do you need a different address when storing different coins? If you purchase Bitcoin today and then purchase Bitcoin tomorrow do you need an different address for each separate purchase?
7m18s "should be configured randomly.".. By me or the device? I'm confused. Do I choose the phrases or not? If the device chooses for me, how do I know manufacturer doesn't track that choice before sending. This also seems preconfigured to me. Thanks for posting!
Can you please help me understand how the seed of 24 word will restore my crypto(private keys) from a lost or damaged ledger to a new ledger ? 24 words its done at beginning when setup the new device....how restore know what u added on ledger? I am beginner in crypto. Thank you.
So...you generate the seed phrase yourself, by words of your own choice? Or it comes inside the device to be extracted upon 1st use? This point was not made clear.
Just one question which nobody seems to explain. Forgive me if it's dumb. But can you have your bitcoin on an exchange while at the same time storing them in your hard wallet.
Thanks for the vid. I have several hardware wallets but the only one I am aware of that does "not" store your private keys is the Bitfi.2. Can you confirm. Any device that stores your private keys is completely vulnerable to confiscation and attack. Thanks again for the content.
So when a address is created on a blockchain with a designated password or key, i dont get to see the key but the ledger software does and masks it. So i basically have to thrust Ledger for example that they dont read the real key trough the software, store it and have access at any time or simply have the alledged randomly created seed phrase stored. Is that right?
If I have multiple accounts (BTC and ETH for example), do I still use 1 private key for both accounts? Or does it require a private key for each of the accounts?
This may go unseen, but i have a question. I can still access my Ledger app without the nano s plugged into the computer. if i want to send or recive bitcoin i need to plug my wallet into the computer than i can process the transaction correct?
so i use a wallet on my phone at the moment. If i was to buy a Trezor one would i be able to enter the seed phrase to transfer the currencies or would i have to send it through a transaction?
CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
Stay safe 🙏🏻🙏🏻🙏🏻
u ur right.
I subscribed in the hope that you make a video explaining how it can be that the pass phrase can allow access to your coins through any device?
The biggest scam here is your claim that a hardware wallet is to dumb to be hacked. Everyone who works in IT and deals with security knows that this is a horrible conclusion. In real life the opposite is often the case. Specialised devices with a small user base usually have far more undiscovered weak points than big software as long as said software has an open code base which anyone can review. Additionally if all you have is a hardware wallet you have no redundancy. 4 cheap run of the mill memory sticks storing your keys in a KeePass container or even on a partition with regular BitLocker encryption is as secure as any hardware wallet. Sure it may not have a fancy little screen where you can do the actual transactions, but that's not really relevant.
@@aBoogivogi and also: YOU should be the guy who gets hired to be one of the 'white hat' hackers who gets hired to test these cold-storage systems out. b/c this has been my similar concern/question:
don't we have to be online, at some point, to shift our BTC, for instance, from an online wallet to an offline, self-storage wallet?? to a paper one *and/or* one of the offline hardware choices like a Trezor or Ledger option - or whichever one we might choose? and then to later send it via the internet somewhere else? because even if we go offline, we could still be sending some kind of an exploit straight to our hardware wallet.
and I've no idea if this guy is getting PAID to endorse one or more of these wallet options - but he also endorses the nightmare that is the Coinbase exchange [the Coinbase Reddit page + other sites say it all, which I wished I'd known about before I recently 'gave in' and signed up with them 😖].
I also have no idea if you, yourself, are pro or con BTC/crypto..but point being: you bring up some very serious concerns, imho. and I had *at LEAST* one of your same signficant thoughts - and I can *appreciate* open source software, depending on the context/situation, of course..but re: THIS kind of scenario:
it DEFINITELY seems that 'open source' means that any bad actor could exploit that factor and find a way in..through the back door? the side door?..you get my meaning?
and I'm still working that crypto learning curve, for sure..but I'm not certain I agree with the video content that the hardware is safe.
b/c it seems that being online, somewhere in the equation, is required in order to transfer funds *to* and *from* a cold-storage hard wallet..or that even a hard wallet, itself, is only minimally, potentially hackable? since it seems ANYTHING is hackable! as I believe Edward Snowden and the NSA have, for all intents & purposes, pretty much proven😐👩🏾🏫
Nice one man. Can you please do one for Privi Protocol?🔥🔥🔥
Give this man a pay rise... He explains everything so well.
Here here 🍻
He probably got one with Bitcoin
Truly. He is doing the lord's work
He explains it in 10 minutes when it takes everyone else it take 40 minutes. . . . like I want to sit that long.
This guy is already has VIP seat in heaven with Jesus
Just wanted to say that was the best hardware wallet explanation video I've seen! Outstanding job on explanation and execution. I teach tracking and tracing Crypto and have seen a lot of videos get it all wrong. You video was spot on! Again, great job!
Tony Moore Just goes to show, today’s young geeks are ruthless criminals. Always trying to hack, steal money, sent viruses. What a generation of garbage people. Why? They were raised in divorced households. Never went to church, no religious training, no social values, no moral conscience. Geeks think steal several million dollars, then set for life. No thought for the human suffering they are causing. People worked hard all their life sweating, then the young geek comes along and robs them. Death to the criminal young geeks! Also, crypto is not easy to understand. Peter Schiff, a smart investor lost his key, hence all his crypto money. Now he hates crypto. Too bad. We need everyone to use crypto, not just the young geeks. We need trainers to show us what to safely and carefully do.
@@thomaspick4123 I completely agree with you, I spent almost a year on crypto currency before getting the heck of it and I have just one person to be thankful to and I'm sure most people are familiar with the great cryptomark 100%
Have finally found a trusted investor I met him 0ň !ňśtą . I invested 500 $ and got 900$ within 24 hours.Thanks to keypoint101
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
I earn 4% interest for holding bitcoins on the axisoption,com wallet service.
I’m so glad I stuck around for the bloopers at the end! As a fellow content creator I’ve got to give you props for not cursing haha
He seems to be that guy that doesn’t curse.
Clear and easy to understand explanations. Thank you.
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
man I've seen some of your videos and I just love how you approach these matters without feeding us advertisement, hype or shilling some shitcoin, like most youtubers do, really great informative work, thank you.
This channel should have millions of subscribers. 1 stop shop for everything crypto. Im completely crypto literate now thanks to this channel
My preferences: Trezor for transactions on the PC and big amounts to hodl, Safepal if you need to pay for a coffee with your phone small amounts
Ive skimmed over you're vids a few time. Glad I watched this one.
Thank you so much I am new in this world of BTC, and this video is awesome! 😃
Greetings from Spain!
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
Straightforward explanation in layman‘s terms. Fantastic job.
Have finally found a trusted investor I met him 0ň !ňśtą . I invested 500 $ and got 900$ within 24 hours.Thanks to keypoint101
@@Zyrobeatz OK take my credit card number. I am DM’ing it to you right now. 😏
I need to watch these like 10 times. As soon as he brought up the example of stolen wallet, just use your phrase and move to a knew wallet I got anxious like wait how do you do that..... Ahhh... So much to learn.
Thanks for all your videos Nate. The BEST info abt crypto currency etc...on YT atm. Very grateful that I've found your channel. Will continue watching them daily to learn more abt this topic. Keep up ya great work! Much appreciated! Chuuurrrr!
I've just finished the The Complete Beginner's Crypto Crash Course :) It was awesome! Thank you!
hey Nr ks have you tried any of the of the hardware wallets yet ? if you havent tried any of the wallets yet then you must give a chance to walahala hardware wallet which is one of the most secure wallets ever. It provides so many features including direct connection to live exchange. Here is the link to their demo account : walahala.com/downloadDemoWallet
You give me 99 Bitcoins? Wow. Generous. Had more on my wallet back in the days.
Two questions. 1. If the hardware wallet you are using generates the seed phrase at setup could this not be exploited by the producers of the said wallet? 2. In view of question one, would it not be more secure if the user (and not the manufacturer) chose their own 24 word seed phrase using the BIP39 word list? Especially in the case of certain manufacturers such as Ledger who don't provide fully open source code. Personally, call me old fashioned but I still feel paper wallets produced offline using a dedicated PC and printer provide the best cold storage option. KISS
Thanks Nate... Happy New Year !!! Great video again mate... !!!
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
Thanks Ned, really well articulated educational video on hardware wallets!
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
Thank you so much. You explained it perfectly. I watched 2 other videos and had no clue what EXACTLY it was. Not it’s so simple. Thank you again!
You’re a great teacher thank you! Teaching is it’s own skill...
Ok a newbie question : what good is a hard wallet if we have a ssed phrase? Anybody with this ssed phrase is able to take control. So why a wallet when we can just have a seed phrase memorized or written in a safe place??
Man .. you guys really explain it very well. Covering all scenarios and common questions
Great info, fun bloopers passing this along to family, for better understanding👍🏼thx!
#4 - Another very unusual, but possible, attack is the $5. Well this refers to when someone physically threatens to hurt you with say... a $5 Wrench if you don't hand over your hardware wallet and unlock it with your PIN Code.
In order to protect from these kinds of physical attacks certain wallets come with another layer of protection called a "Loaded 45 Caliber 1911".
He's absolutely right.....all my wallets come with one
you've watched too may episodes of *"Homeland,"* [USA version], for sure!🙄🤦🏾♀️ but Carrie *DID* get her computer access back, LoLoL!! because she's too *'CRAY!!'* to be afraid [much more than the extortionist!] & she's brilliant!! *and* I've delayed it for far too long as:
I'm about to watch the FINAL episode..and if you've never seen the show, then do yourself a *temporarily-distracted-fom-COVID-19-favor* & take the time to catch up on *all 8 seasons* of it & *buckle UP!* 😁
You obviously live in the USA. In Canada here where I am easier said than done. All though you can obtain a .45 it isn't easy that is for sure so most use bear mace, replica guns, brass knuckles and nunchucks. ✊
a 2nd amendment ppl! :)
Satoshi really went crazy. Can’t believe how ingenious this tech is.
Do you think he came from the future?
@@nicksvaik no, I think Satoshi Nakamoto is actually a group of very, very, veery intelligent people, probably some mathematics, cryptography and IT experts
@@Kitulous this is my first stop when memes make it to youtube.
@@Kitulous Possibly each initial of "Satoshi Nakamoto" is the initial letter of the name of each person of the group :D
👽
great video - just wondering say a dude tampers with your wallet and tells you to enter a passphrase on a piece of paper ( 6:28 ) he has your key but how would he start a transaction in this case?? how would he know your account name etc??? is it as simple as entering the password on a new wallet to see what he has? I don't get that part. is the bitcoin address fixed too?
Easily the best crypto learning site out there!! Clearly explained without a lot of garbage in between. Good job, Nate!
8:30 Does it work with $1 stick attack?
What a great job! Thank you so much for your information!
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
@@HAFBeast91 You obviously didn't buy it directly from Ledger. Stupidest customer purchase ever.
This is one of the best explanations of any crypto-related concepts I've ever watched.
O.K., so many questions...forgve me for the dumb questions:
1) Are hardware wallets only for Bitcoin, or can any crypto be transferred to one?
2) How would I transfer my coins from, let's say, Webull, to a wallet? Is that even possible?
3) Once my altcoins are on the HW wallet, will they still be subject to market fluctuations?
4) How would transfer my coins off the hardware wallet & back onto an exchange, say Webull or Coinbase?
Thank You!!!
Thanks for all this valuable information Nate. I understand the whole process better with your help and our oldest son Nick. 💕
Have finally found a trusted investor I met him 0ň !ňśtą . I invested 500 $ and got 900$ within 24 hours.Thanks to keypoint101
Extremely helpful video. I kept waiting for some basic but key piece of information to be left out but that never happened. Perfect explanation, thanks!
Most concise and comprehensive explanation on YT
@@Bitcoins-dw5wc Yeah, just wait for me by the phone...I'm dialing you now😎😎😎
Great Video!!!! Informative and easy to understand. I will look for more of your episodes!!! Sent a Brave tip!!
I think its also important to understand that there is no 100% safe method to owning crypto. You still run the risk of losing this hard wallet. It will come down to personal preference in the end.
Great video!! I have one question. How would you fund the wallet with cash. Does the wallet have a platform to do the conversion? What would that fee look like ? Is there a transfer limit? Sorry I had more then one question 😃
Really like this no brainer simplified explanation about hard wallets!💪
Glad it was helpful!
This is a great explanation, the only additional question I have is if the coins are currently on an exchange like Coinbase or with a broker like Voyager, earning interest; does a hardware wallet "remove" them from that account? Or do they stay there still able to earn interest, but are only able to be sent from that account with access to the hardware wallet?
I had the same exact question. Do you allready have an answer to it?
I was wondering the same thing 🤔
The coins change ownership from Coinbase (or whatever exchange) to you so they are withdrawn from the interest earning account. In my account you have to withdraw from the interest earning account to a trading account then withdrawn to your wallet.
Thank you for such a comprehensive, yet easy to follow explanation!
Very clearly explained and the visual aspect of the video also helps a lot. Great video.
Glad it was helpful!
A great explanation. I was able to understand the hardware wallet concept in one video.
Thank you, we are glad it was helpful!
The best cryptoworld teacher ever.. love you man 👍
Thanks for all the warnings. It really helps to know what to look out for.
Can you do a video where you use seed from ledger and restore the funds in other company hardware wallets?
Don't buy a Ledger Wallet. I bought a Ledger Nano S and X and my X is defective, I requested a refund and they want me to pay $50 for shipping back to fucking France. Stupidest customer service ever.
@@HAFBeast91 What about Trezor?
Great video explaining complex concepts in a simple way. Thank you so much!
Great job... Can i keep more than one currency in the same wallet?
Thanks for the forecast! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
Absolutely wonderful video. A ton of information in a very simple language. Thank you so very much!
great video! really well put together and informative
Clear and easy to understand video! Thanks for your information.
My MENTOR! Thanks for educating me the right way and for breaking the facts into simple,plain to the point where I can understand it easily. THANKS
Thanks a lot for the feedback! Glad to help :)
W*H*A*T*S*A*P*P ** M*E****°°°°°
+1*9*1*6*2*2*9*6*3*0*4*
F*O*R M*O*R*E D*E*T*A*I*L*S*°°°°°
Can you transfer XRP from BSC wallet stored on Nano X ledger to Uphold, or does it all have to be ERC-20?
So from what you are saying, if we have seed phrase, then we don't have to worry about private key at all, seed phase can regenerate private key even if we lost it. I'm I correct?
ViShNu ViZz Correct
I just bought a nano s plus. I know I can add as much crypto as I want
to this and daily if I wanted to but I was told I should only withdrawal
one time from a cold wallet back onto an exchange to sell the crypto and then the
cold wallet could be potentially compromised and should never be used
again. Is this true?
Enjoyed the bloopers, You make it look easy but it is a lot of work.
I'm still wondering, are hardware wallets compatible with any software wallets? Can we move coins from an exchange to a hardware wallet?
Thank you for a clear to the point explanation!! Finally cryptocurrency lingo in plain English!! Lol
Great explanation! Thank you!
Subscribed! This is the explanation I'm looking for. Will buy bitcoin tomorrow. Excellent video
hi, i am a new owner, I just found out that you need both hands for making transactions, as a stroke survivor i have the use of one hand only, do you think that I could get away pressing buttons with two fingers of one hand?
If the seed phrase is used to create a new wallet and retrieve your crypto. Where is it retrieving it from if it’s stored on the wallet? Is the seed phrase stored on the block chain or is it stored on the companies network? I’m not really clear on that.
thanks you very much for putting out very quality content. easy to understand
Dear champ... can you tell me or guide me or maybe you have some video where you teach & speak about what I want to know... I wonder how to go from a private key to a seed mnemonic phrase.... could you tell me? Regards!
Very eloquent presentation. Well planned and thought out. Thumbs up done.
Is there a limit to how much crypto currency value you can store on a hardware wallet? How about the number of different crypto currencies you can store?
Best tutorial ever. Respect!
do i need a desktop or mobile wallet to be able to use the hardware wallet ? if so how do i put my crypto on the hardware wallet? im assuming you want to transfer it there pretty quick and keep it there accumulating right?
also unrelated , is there any crypto banking system where u can build interest on your crypto? curious.
Pretty good video ! In fact it is the best of 5 I've viewed just because of the little graphics used to explain the transactions. Somehow they dropped the ball and quit with the graphics halfway through the video. Dammit! This was on the way to such a great video!
So far best video explaining hw wallet.. Great
if I dont make a passphrase for a trezor, and someone has my 12-24 words of the wallet - will they be able to access it or will they also need my PIN??
thank you for the video!! very helpful
The man who always breaks down things which previously perplexed me .
What if all companies who use the BIP39 system close their business? Do soft wallets support the BIP 39 seed phrase?
Answered every single question I thought of. Even the last one awesome
So if your hardware wallet gets damaged or stops working for whatever reason, you can put your seed phrase into another hardware wallet and it'll restore your crypto into that new wallet?
I'm a beginner in crypto and I do understand the functionality of the hardware wallets, but I still have some questions. Can someone please enlighten me? So, you transfer your crypto coin from an exchange to your wallet for safekeeping. I read that coin base charges you fee for transferring. So, how does that work when you want to trade? do you transfer the crypto back to an exchange so you can trade and at the end of it when you're done and want to secure your crypto you put it back on your wallet?
Or do you keep it in your wallet, plug it, and you can trade in an exchange with your wallet plugged and transactions will still be executed and balance will be updated in the wallet?
Not sure if I got this correct. So by "transferring my coins" to my hardware wallet, I'm actually just changing my coins that was associated (not sure the terminology) to a private key/address on my trading company's system (which they maintains) to a new set of private key/address that is on my hardware wallet? And to send it back to the trading company's system, I would send my coins back to the original said address?
You explain everything incredibly well. Thumbs up!
You make such awesome instructional content
Do you need a different address when storing different coins? If you purchase Bitcoin today and then purchase Bitcoin tomorrow do you need an different address for each separate purchase?
7m18s "should be configured randomly.".. By me or the device? I'm confused. Do I choose the phrases or not? If the device chooses for me, how do I know manufacturer doesn't track that choice before sending. This also seems preconfigured to me. Thanks for posting!
I finally understand seed phrases and hardware wallets, thank you.
Can you please help me understand how the seed of 24 word will restore my crypto(private keys) from a lost or damaged ledger to a new ledger ? 24 words its done at beginning when setup the new device....how restore know what u added on ledger? I am beginner in crypto. Thank you.
can i continuously add to the hardware bitcoins that i periodically buy? or is it a one time addition?
Love your videos. So simple and easy to understand. :)
So...you generate the seed phrase yourself, by words of your own choice? Or it comes inside the device to be extracted upon 1st use? This point was not made clear.
I am really glad to find this video i was really worried about security until i watched this video thank you very much
What wallet allows storage of every crypto and works with every exchange? Is a desktop wallet considered cold? Safer or less safe?
Just one question which nobody seems to explain. Forgive me if it's dumb. But can you have your bitcoin on an exchange while at the same time storing them in your hard wallet.
Thanks for the vid. I have several hardware wallets but the only one I am aware of that does "not" store your private keys is the Bitfi.2. Can you confirm. Any device that stores your private keys is completely vulnerable to confiscation and attack. Thanks again for the content.
Best way to educate folks ever.... Thank you
Is there a video on ,How do you shift crypto ,e.g Bitcoin , from exchange Wallet such as Coinbase to a cold storage like Nano S.
So when a address is created on a blockchain with a designated password or key, i dont get to see the key but the ledger software does and masks it. So i basically have to thrust Ledger for example that they dont read the real key trough the software, store it and have access at any time or simply have the alledged randomly created seed phrase stored. Is that right?
If I have multiple accounts (BTC and ETH for example), do I still use 1 private key for both accounts? Or does it require a private key for each of the accounts?
Is the seed phrase the same as private key? thanks in advance for answering my question.
Great video, thank you! Those bloopers were hilarious at the end too! Lmao! XD
This may go unseen, but i have a question. I can still access my Ledger app without the nano s plugged into the computer. if i want to send or recive bitcoin i need to plug my wallet into the computer than i can process the transaction correct?
9:00 - FINALLY, THIS IS WHAT I WAS LOOKING FOR
Using your public key, you can transfer crypto from your online wallet to your offline wallet right?
so i use a wallet on my phone at the moment. If i was to buy a Trezor one would i be able to enter the seed phrase to transfer the currencies or would i have to send it through a transaction?
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