@@andreizaika3775 lol wrong, I'm not saying this is a good idea to keep your wallet on an old phone, but it's impossible to gain access without some sort of connection.
dude i loved your video... the thing is that these companies want the most out of you.. they trick you into buying their hardware wallets, not saying trezor or ledger is bad.. its just that i was hesitant to spend $100 on a device which ill have to renew every 5 or 10 years.... i even tried making a DIY hardware wallet using the a pendrive.... you opened my eyes man... the answer was right in my hand.. thank you !!!!
Wait if i was a criminal looking to steal I would probably take the things that i could easily conceal- which would be all three the ledger trzor and iphone
When you get your seed it's displayed on the screen while connected to the internet. That's hackable by malicious softtware. Ledger & Trezor don't have this issue.
Yeah I learned my lesson the hard way this week keeping too many profits on a laptop with Metamask and no cold storage for Ethereum. Money stolen from two addresses and likely the machine is compromised. There's also a fair chance that the exchanges won't cooperate to return the stolen funds (~21k USD equivalent) that were given to Binance by the hacker and legal actions may have to be taken.
@@antoinejameson2683 jesus christ dont scare me but one question, the machine that was hacked or compromised was a WINDOWS MACHINE? MAC MACHINE? OR LINUX MACHINE?
Shiiiiit 21k dam thought I was bad when I transferred 500 to a random address I now triple check btw any exchange are rip offs btc was looking good a month ago it’s now dropped severally Alt coins are now the way forward just a waiting game on them to blow (Eth) Dodge ect
Sponsored by Monarch and I just lost my 6:47 min of my life lol And yes its not safe on old iPhone, every live iPhone is traceable, think bout that... atc... hmm.. long story short, its not safe belive me.
there's not perfect answer really, if you have enough crypto to keep in cold storage may want to renew that medium every 5-10 years, whether it be paper or hardware.
If they hack your Phone they can steal your crypto. If they steal your ledger and they dont have the pin code or seed phrase its usless to them... People Who are smart wouldnt steal your ledger or trezor But they steal your seed written down if found. Leave the device where it is, you dont susspect something until they load your wallet on their own ledger etc... Then you lost...
I agree with you, I tried Monarch. Still like the concept but had trouble withdrawing and depositing into the interest account. The support was average. I managed to get most out and now use Celsius, which Monarch uses but puts their skin on it. Had no problems with Celsius. Wanted Monarch to work, but these withdrawal issues have put me off tbh.
Turn of “emergency services” too because phones that are totally offline is still connected to the 911 emergency network and I fear a government entity like NSA could use this as a BACKDOOR I to the phone. The BEST thing is something with ZERO connections like an old laptop or computer with the network connections GUTTED OUT with a clean linux OS installed.
Thanks for sharing such valuable information! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
This man doesn’t know what the hell kind of “advice” he is giving. These phones have more vectors of attack vs a ledger nano S… phones are only good for watch only wallets or hot wallets with pocket change.
At 1 min mark. How would a robber hack the ledger though without the pin or recovery seed. That you store elsewhere. Plus the thing is besides the ledger or trezor , who knows if the other ones secretly have the recovery seed without you knowing. So far a lot of people trust ledger who says they have no way of knowing the recover seed as it generates without them knowing. Also if that wallet you advocate is an app on your phone then by definition it is not COLD hardware storage.
Cold storage is an offline wallet used for storing crypto. With cold storage, the digital wallet is stored on a platform that is not connected to the internet, thereby protecting the wallet from unauthorized access, cyber hacks and other vulnerabilities to which a system that is connected to the internet is susceptible. - It fits the definition, and serves the purpose.
Do not listen to this guy... Using a phone is leaps and bounds less secure than almost any dedicated crypto hardware wallet. Do not succumb to the virus of "convenience" when it comes to your crypto assets.
I'd remove the SIM card...no cell access. No wifi. No bluetooth. Turn off automatic OS and app updates. VPN internet access only. Lock down the phone as much as possible.
Paper Wallet.... Then fold it up and put it under your dresser... and have the Key Phrase on another bit of paper and hide that somewhere else or memorize it. Safest option
Cold wallet stores crypto with it being able to have no data connection... Deleting the wallet off your phone still has the wallet constantly connected to the blockchain
Perfect idea, download install, turn off data / WiFi generate your keys and uninstall app, and never use phone again. Question is now, how do I install on an old phone that I wiped without re adding my account to it 🤔
Now that you said they won’t expect a broke ass iPhone to have a crypto wallet on it, they will, also what happen when that broke ass iPhone decides to not work anymore
Only thing is malware old stuff ya may have gained cuz I thought of thre same idea to use an old tablet and I was like well there's already most likely a lot of things that are not meant to be there so idk I'd rather have a less known things but I dont have ppl over or friends or anything. to worry about lol
he said iphone for a reason, even the FBI can't get into phones. the storage is automatically encrypted when its off or locked. androids... easily hacked into.
What if ledger has weak seeds and stores all the “newly” generated keys in an table upfront. It’s just waiting for that one moment in time to Push the Button and All of your ledgers will be empty
It’s all fun and games until your legacy iPhone battery dies.
I encourage everyone to watch the interview with edward snowden at joe rogan channel and decide if you want to store stuff on your phone...
This.
Even if it has no sim, factory wiped and no comms enabled?
@@JustifyJustin yeap
Link?
@@andreizaika3775 lol wrong, I'm not saying this is a good idea to keep your wallet on an old phone, but it's impossible to gain access without some sort of connection.
dude i loved your video... the thing is that these companies want the most out of you.. they trick you into buying their hardware wallets, not saying trezor or ledger is bad.. its just that i was hesitant to spend $100 on a device which ill have to renew every 5 or 10 years.... i even tried making a DIY hardware wallet using the a pendrive.... you opened my eyes man... the answer was right in my hand.. thank you !!!!
So this is all a big ad for monarch for ur gain. Got it
Wait if i was a criminal looking to steal I would probably take the things that i could easily conceal- which would be all three the ledger trzor and iphone
gotta save the codes on a brick carved in and delete the app lol
When you get your seed it's displayed on the screen while connected to the internet. That's hackable by malicious softtware. Ledger & Trezor don't have this issue.
Yeah I learned my lesson the hard way this week keeping too many profits on a laptop with Metamask and no cold storage for Ethereum. Money stolen from two addresses and likely the machine is compromised. There's also a fair chance that the exchanges won't cooperate to return the stolen funds (~21k USD equivalent) that were given to Binance by the hacker and legal actions may have to be taken.
@@antoinejameson2683 jesus christ dont scare me but one question, the machine that was hacked or compromised was a WINDOWS MACHINE? MAC MACHINE? OR LINUX MACHINE?
@@antoinejameson2683 any updates on this?
Shiiiiit 21k dam thought I was bad when I transferred 500 to a random address I now triple check btw any exchange are rip offs btc was looking good a month ago it’s now dropped severally Alt coins are now the way forward just a waiting game on them to blow (Eth) Dodge ect
@@johnarigi11 99.99% it was Windows. Why do you think they call it Windows? So Gates can see everything.
i thought that guy was the ufc fighter cowboy cerrone
Sponsored by Monarch and I just lost my 6:47 min of my life lol
And yes its not safe on old iPhone, every live iPhone is traceable, think bout that... atc...
hmm.. long story short, its not safe belive me.
Plz explain the reason! 🙏
Montana Taken intresting, where’d you get the info?
@@trtrhr thats why he said turn wifi off bro 🤣
there's not perfect answer really, if you have enough crypto to keep in cold storage may want to renew that medium every 5-10 years, whether it be paper or hardware.
Actually a Ledger is good too but I use my unlocked Android phone for cold storage.
Basically, you are storing in Monarch not in your old phone.
And then your phonebattery is dead and your 10k$ worth of bitcoins is gone.
😂 trust a smartphone instead of a ledger???!!!! You must me kidding me.....
If they hack your Phone they can steal your crypto. If they steal your ledger and they dont have the pin code or seed phrase its usless to them... People Who are smart wouldnt steal your ledger or trezor But they steal your seed written down if found. Leave the device where it is, you dont susspect something until they load your wallet on their own ledger etc... Then you lost...
@@Boredisme223 it’s actually better
@@Boredisme223 And no SIM card. The phone is an island. Just use VPN for all communication
I agree with you, I tried Monarch. Still like the concept but had trouble withdrawing and depositing into the interest account. The support was average. I managed to get most out and now use Celsius, which Monarch uses but puts their skin on it. Had no problems with Celsius. Wanted Monarch to work, but these withdrawal issues have put me off tbh.
Celsius? This aged like fine milk
Turn of “emergency services” too because phones that are totally offline is still connected to the 911 emergency network and I fear a government entity like NSA could use this as a BACKDOOR I to the phone.
The BEST thing is something with ZERO connections like an old laptop or computer with the network connections GUTTED OUT with a clean linux OS installed.
I don't trust the phone companies lol they watching somehow
especially apple
Ya ne!
What of no sim card installed safe from phone companies then?
Remove the SIM card and use VPN access only
Thanks for sharing such valuable information! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Im staying with ledger where I am from even the poor will steal a broken iPhone
This man doesn’t know what the hell kind of “advice” he is giving. These phones have more vectors of attack vs a ledger nano S… phones are only good for watch only wallets or hot wallets with pocket change.
At 1 min mark. How would a robber hack the ledger though without the pin or recovery seed. That you store elsewhere. Plus the thing is besides the ledger or trezor , who knows if the other ones secretly have the recovery seed without you knowing. So far a lot of people trust ledger who says they have no way of knowing the recover seed as it generates without them knowing. Also if that wallet you advocate is an app on your phone then by definition it is not COLD hardware storage.
Cold storage is an offline wallet used for storing crypto. With cold storage, the digital wallet is stored on a platform that is not connected to the internet, thereby protecting the wallet from unauthorized access, cyber hacks and other vulnerabilities to which a system that is connected to the internet is susceptible. - It fits the definition, and serves the purpose.
A Mobile phone is always connected even if sim or wifi aren't connected through sos system
@@aadityasonwane7067 How?
People will steal the phone... even if it's an older phone...
exactly.
Do not listen to this guy... Using a phone is leaps and bounds less secure than almost any dedicated crypto hardware wallet. Do not succumb to the virus of "convenience" when it comes to your crypto assets.
So the only advantage to an old phone vs a ledger is for intruders or not having to do updates? Both need to have seed words saved somewhere......
I'd remove the SIM card...no cell access. No wifi. No bluetooth. Turn off automatic OS and app updates. VPN internet access only. Lock down the phone as much as possible.
IF you use the old iphone make sure it never goes online
Setting up the desktop exodus & then storing the keys & file on the iPhone is prob best plan. Make sure computer is free from spyware 😅
Love that idea & thinking outside the box. Not trust Apple's poorly aging software for my bitcoin tho!
True
Paper Wallet.... Then fold it up and put it under your dresser... and have the Key Phrase on another bit of paper and hide that somewhere else or memorize it. Safest option
How can you memorize it if you need a QR code with it?
baboo popa import option in wallets allow this.
whats the difference between having a cold wallet and just deleting the wallet off your phone?
Cold wallet stores crypto with it being able to have no data connection... Deleting the wallet off your phone still has the wallet constantly connected to the blockchain
@@dustindrerup2232 store your crypto in a cold storage and give me your seed phrase, I still open it... just saying
you shoukdve explained how you get cryptos off the old offline phone.
you get back on wifi and login and send them
@@that1kidkaiden yeah is really that simeple
Perfect idea, download install, turn off data / WiFi generate your keys and uninstall app, and never use phone again.
Question is now, how do I install on an old phone that I wiped without re adding my account to it 🤔
A small Gedankenexperiment: today I know you know nothing !!!
Now that you said they won’t expect a broke ass iPhone to have a crypto wallet on it, they will, also what happen when that broke ass iPhone decides to not work anymore
Nano has a pincode why didnt you mention that?
And what are the other wallets? Yeah sure, you're promoting monarch, but there must be others?
there are a ton of other wallets... dyor
Monarch promotion.
This is not safe at all. There is a change it wont turn on if its old and broken already.. fireproof, waterproof ? Nah
Losing millions is a pain in the ass, compared to put some effort in updating a wallet.
what if monarch company close or shutdown.. can you still recover your crypto?
if the iphone brokes?
Bro my xdc vanish from my ellipal wallet but my other coins is still there wtf has happend?
Awesome! I am looking for one since I started trading. Thank God for this upload. Watching now
can you do proof of stake from a cold storage wallet or does the crypto have to be on a cryptocurrency exchange
Hello.. what about Samsung???
or if you aren't familiar with crypto you'll probably just think its just s flash drive and not bat a eye
so i say BS on that point.
Only thing is malware old stuff ya may have gained cuz I thought of thre same idea to use an old tablet and I was like well there's already most likely a lot of things that are not meant to be there so idk I'd rather have a less known things but I dont have ppl over or friends or anything. to worry about lol
I got a second iPhone and I just turn off WiFi and take the logic board out 😅😅😅
Bahaha then you have to install logic boaed everytime you nees wallet!!
but a smart phone is smart...you don't want your crypto keys on a smart device
??
lol - only having an old phone, so some hardware wallet´s gonna be the cheapest option but keepin´ it in mind for the future !! 👌
How much does a damn cell phone cost compared to a ledger???
Only iPhones not android
Does it have to be an I phone??
6:37 yeah you are the hacker now days everyone trying to suggest this for your own life and call you weird or crazy for making your own decisions
so can monarch get hacked?
If your smart you carry those things with you on Vacations, to prevent house theft risk of loss while you are gone.
The best cold wallet is my brain wallet try me without any cost 🤪
a lil accident and amnesia and your money is gone...
a lil blow of scopolamine and you spill the beans
What if monarch ceases operations? Or their app is removed? What if their servers crash
the app has nothing to do with the server. it's stored on the phone and works without internet.
Is monarch open source?
exodus and trust work
Nah
Thank you for this. I have a broken screen pixel 2. I'm going to use that. 1 video like from me 👌
he said iphone for a reason, even the FBI can't get into phones. the storage is automatically encrypted when its off or locked. androids... easily hacked into.
What if ledger has weak seeds and stores all the “newly” generated keys in an table upfront. It’s just waiting for that one moment in time to Push the Button and All of your ledgers will be empty
LAME PROMO FOR MONARCH I HOPE YOU SEE THIS COMMENT FIRST AND DOWNVOTE THIS INFORMATION-LESS VID.
too late - yours is the penultimate comment - which means I've scrolled down the lot!
I THOUGH THAT!!!