I use my device almost every day, and I have not worn it out or damaged it. So I don't think overuse is an issue. But underuse definitely is. I get comments and emails from people almost every day who are having issues because they are unfamiliar with the device and its use. I have also dealt with people who have lost life changing amounts of crypto because they "stuck it in a box or drawer for years" I had one gentleman pull his out after 5 years and found the firmware was hopelessly outdated. He had to buy a new device, but he could not find his seed phrase. So his crypto was lost. The device is not static, unfortunately. It needs regular updates to stay in good working order. Just like your phone and computer. That's why I do this channel, to teach good habits.
I have a problem with decent wallet. I confess I'm one of those who put it away and didn't open it much. Well, I tryed my pin and not letting me in after several trys. I know its right pen, now I only have 3 remaining trys left. I need real help. I have my seed phrases and device pin. I have a new decent wallet. Can I use same decent app. With it. I can see my coins but can't move them because of lock out. Please help, thank you. I can hire you to help. Hope you get this.
@@slw908 What hardware wallet are you using? If you have your words and seed phrases, then you are fine. If not, then you have a problem if you can't get your PIN to work.
@@Phantoma3 I heard you can still update the firmware through a process posted on the Ledger website, but Ledger Live no longer automatically prompts you to unfortunately.
@@Phantoma3 Make sure it's an approved reseller. At least move your money slowly over time to this device until this device has proven not to be nefariously tampered with.
🥇You ALWAYS have such great advice. It is obvious to see that YOU CARE GREATLY about your audience. I SOOOOOOOOOOOO appreciate you, your honesty, integrity and and ❤heart.
Hey Dad, you do great work. You hit the practical topics that most gurus completely avoid. Sincerely, it's appreciated. I believe a video on: What to do if your favorite exchange is down and you want to sell, and What banks are most crypto friendly would really be appreciated by many. I know I'd listen, take notes, and share.
@CryptoDad Awesome 👍! By the way, your videos have helped me in the past. I'll probably be revisiting some hardware wallet videos, because I haven't played with mine in a while! I hope everything still works 🤞
My Ledger Nano X works fine for maybe 3 years and give up last week. No battery problem. Strikes while install Apps. I bought an Nano S Plus. Cheaper. I have many Wallets with Batterys. Now i use Tangem. No batterys no adapters no cables and slim design. Right choice for me.
100% correct - I learned that the hard-way just recently when my Ledger Nano S suddenly failed, no display. I used the phone trick to view it but couldn't even get it to connect to the PC via USB the normal way. Finally, after trying seven different cables it worked, but don't want to repeat that again.
Awesome video. Some folks that are newer to crypto don't realize the wisdom or process or upgrading or replacing your wallet. It is a great lesson. I was a little confused by your comment that there was a problem moving your seed phrase to another wallet. It is a common practice and I have done it often. There is only one word list so there shouldn't be any issues. Maybe a subject for another video?
You’re totally correct that a 12 or 24 word seed phrase is an industry standard. However, there is also a thing called the derivation path which can be slightly different depending on the hardware wallet manufacturer. That’s why I generally recommend that it’s better to stick with the same brand that you use to create your back up phrase. Although I have done a few videos on how to import ledger seed phrases into other brands like Trezor, there are small little idiosyncrasies that can make this complicated for the average user. Such as the fact that a ledger Live will allow you to create multiple Ethereum accounts, but the Trezor suite will not. So if you have five Ethereum accounts in Ledger Live when you import your 24 word seed phrase onto a Trezor device, you will only see one of them. This is just only one of the possible issues with migrating seed phrases into various other hardware wallets.
I just went to Amazon half way thru this video and bought a nano s plus for 80 bucks. Thanks, Crypto Dad. I have been watching you for many years now you always have great videos.
@ not at all. All ledger devices have a cryptographic “genuine check” feature. When you connect to Ledger Live, you can rest assured that it is genuine and that it has not been tampered with. It is a misconception that buying a ledger device through a third-party is dangerous. Amazon is also an official distributor for ledger they partner together, so does Best Buy
Always buy two to start with, set the up the same as duplicates, then as one goes bad, gets lost, stolen, you can use the duplicate cold storage device while ordering a new replacement for the broken one. Cheers!
@@heikkidoeleman7636 it depends on the device. The ledger only gives you three tries, so it’s pretty unlikely that someone is going to be able to guess your pin in three tries. But strictly speaking if the device is stolen, best practice is to consider it compromised and transfer your crypto somewhere else, reset your wallet, and start with a new seed phrase. But in this video we’re talking about worn out devices and the original poster of this comment was talking about a device being broken not stolen or lost.
@@reggieregg3799 don´t know which you are referring to, but Xumm / Tangem has a lot of dapps. Besides, wouldn´t you want a separate trading account anyways -- and only use the cold wallet for storage?
Its your seed phrase that is important. Have at least 2 copies written down and stored in different locations ( 1 away from your home in case of fire.) I left 1 word out in case someone actually finds it.
Serendipitous. I was just thinking about this. Always have a backup device ( or 2) just in case. Better to have it a not need it, than need it and not have it.
I agree go get a new one and don't cheap out on Nano's, but more importantly, I will say go get a Metal plate. Doesn't matter if Ledger fails on you or not, as far as you got Metal plates with yeah.
@CryptoDad so if all crypto is on block chain . Having a software wallet or a so called offline wallet there still online so to speak? So is there much difference? Obviously it's just about keeping your seed phrase safe ?
If my crypto is on Coinomi, I can buy a Ledger and store the access to my cryto on that device, but does the Bitcoin address which Coinomi has right now, become obsolete due to a new address being created on my new Ledger?
It’s true that the 24 words seed phrase is an industry standard. I did a video on migrating into a treasure device using a ledger seed phrase. It is possible, but there are some quirks involved. Your treasure may not see all of the accounts you created with your Ledger device, but usually it’s pretty seamless. ua-cam.com/video/j7l_9xAAIw8/v-deo.htmlsi=cF3DphNuAN05akzQ
i have nano ledger x in pretty new condition. When i try to put some of my coins. It ask for update. Is it safe to update? I heard that was risky. TIA!
Hi mate, really helpful video. With your keys stored on your old devices, whether working or not, what do you do to protect/remove the data before it's safe to throw them away ?
Hello Cryptodad! Appreciate all the easy to understand explanations. Question. .. my soon to be husband and I have separate crypto purchases..can we store all of our crypto collectively on one ledger wallet? Thank you for any assistance you can provide.
Thank you for the video. My Nano S is doing exactly what you said and the screen words are no longer visible. I am getting a Nano S Plus shortly. Thanks, again. :)
the other good thing about updating/upgrading your ledger is you get to retest you seed phase that you probably haven't tried since you brought the original ledger 5 years ago!! ..
This confusion is due to the name given to the device : "wallet", when it should be "key" Nano S : I think there are no more firmware updates anyway (not sure)
Please explain why the same seed phrase should stay with the original wallet manufacturer. I thought the 12 or 24 word seeds phrase was interchangeable regardless of who produced the wallet
It’s not impossible to import your seed phrase from one hardware wallet to another, but there are complications that newcomers might not be aware of. This mostly involves what’s called the derivation path. Not every hardware wallet manufacturer uses the exact same derivation path when they generate their wallets. For example, ledger Live allows you to create multiple Ethereum accounts, Trezor suite does not. So if you have three Ethereum accounts, and then you import into a Trezor, you will only see one of them. you would need a third-party wallet to access those additional Ethereum accounts. That’s just one example. You will always be able to access all your crypto from a seed phrase that you’ve created, but it might not be straightforward and seamless. This is why I do not recommend, importing seed phrases between hardware device manufacturers it just keeps things simpler.
i had a ledger that was a gift that i never used. I actually tried to use it again and it was like battery problem. I thought i had my bcc on it and i almost had a heart attack...... i agree, but i also do that with regular flash drives.
@@markusmaier2277 as far as I know, they are still supporting the Nano S with firmware updates. But I could be wrong. I haven’t used one in a while. However eventually they will stop supporting that device. I remember Microsoft only had to support Windows 7 for several years after they came out with windows eight. I think there’s some kind of law that governs that. But eventually, they will stop supporting the device. Probably better to spend $79 on a Ledger Nano S plus before that happens
My Trezor only has a 12 word recovery is better to upgrade to new trezor safe 5 would it be worth having a 24 word recovery phrase . what's the best way to change recovery phrase .thanks
This video is more about devices that are not working properly. But there is something to be said about upgrading to newer devices. Newer devices keep up with the times and support newer technologies and have improved interfaces.
Both devices will still work. They both access the same wallets. In other words we call them mirror backups, of course in the case of the older device you might want to set it back to factory and dispose of it. You can set it back to factory by entering the pin incorrectly three times if it’s still working enough for that, otherwise just crush it and throw it away.
Good advice; however, besides the "seed phrase", the soft-wallets for each type of crypto stored on the device have to be installed on the new device for Ledger Live to be able to "see" all the crypto related to the Ledger. Just doing the "seed phrase" restoration won't automatically let you see other crypto coins you previously put on your old device. These "soft" crypto wallets that were on the old device have to be re-installed on the new device and then the crypto that was visible before on the old device will be visible again on the new device. This is my understanding. Please confirm.
Absolutely correct. Now if you already have ledger live set up with accounts from your previous device, after the restore, you just need to plug in the device and Ledger Live will check if the appropriate app is installed when you go to manage each account. If it does not find it, (the bitcoin app for example, which you describe as the soft wallet) Ledger Live will install it automatically. Or you can install the ones you need manually before you start managing your accounts. If you are starting clean on a new computer, then yes you will need to add each account manually from memory.
The only drawback to this is if you wait until the market is running to send to exchange to possibly sell they KILL YOU with the gas fees!!! I got a Tangem and I like it but just beware of the gas fees moving to and from!
@JS-nt3el it depends on your needs and your budget. If you’ve got thousands of dollars worth of crypto it shouldn’t be a big deal to spend another $79 on a better device. The ledger Nano S Plus has a lot more app storage space. But by the same token, if you’re only storing a few cryptos, it’s not strictly necessary for the extra space. My only consideration is the ledger S will eventually lose support since it’s no longer being sold. So sooner or later you’re going to need to migrate.
I use my device almost every day, and I have not worn it out or damaged it. So I don't think overuse is an issue. But underuse definitely is. I get comments and emails from people almost every day who are having issues because they are unfamiliar with the device and its use. I have also dealt with people who have lost life changing amounts of crypto because they "stuck it in a box or drawer for years" I had one gentleman pull his out after 5 years and found the firmware was hopelessly outdated. He had to buy a new device, but he could not find his seed phrase. So his crypto was lost. The device is not static, unfortunately. It needs regular updates to stay in good working order. Just like your phone and computer. That's why I do this channel, to teach good habits.
@@CryptoDad Yes, I think you are right. I work away a lot and forget about the device. I think we should all do something on them at least monthly.
Losing your recovery words or seeds is just plain dumb. (If u have to buy a new device, no big deal. )
@Successfully_Unemployed1520 i would say once a quarter or 3x a year is probably still okay. (Sorry if I'm splitting hairs.)
I have a problem with decent wallet. I confess I'm one of those who put it away and didn't open it much. Well, I tryed my pin and not letting me in after several trys. I know its right pen, now I only have 3 remaining trys left. I need real help. I have my seed phrases and device pin. I have a new decent wallet. Can I use same decent app. With it. I can see my coins but can't move them because of lock out. Please help, thank you. I can hire you to help. Hope you get this.
@@slw908 What hardware wallet are you using?
If you have your words and seed phrases, then you are fine. If not, then you have a problem if you can't get your PIN to work.
That was one of the most logical things I have ever heard anybody say And your sincerity
Love the way he explains things with no jargon it really helps older investors, always keep it monkey simple 👍
Really felt that it was my Dad patiently explaining stuff to me, in a logical structured manner. I just subscribed to this channel.
Love my Ledger Nano S its been incredible for 7 years and going strong
That's great because I just bought a new Nano S from a store with old stock and should get it in a few days
@@Phantoma3 I heard you can still update the firmware through a process posted on the Ledger website, but Ledger Live no longer automatically prompts you to unfortunately.
@@Phantoma3 Make sure it's an approved reseller. At least move your money slowly over time to this device until this device has proven not to be nefariously tampered with.
@@sunchips5 Yep, I will and Ledger have info on checking the Nano for integrity. 👍👍
@@Phantoma3I would only buy it from ledger
Always buy your devices directly from the manufacturer. Never through a 3rd party.
Not true 3rd party is better. Ledger lost its data they probably get targeted much more.
Not even Best Buy?
Except from Best buy. They are autorized sellers.
The manufacturer will leak your data
I'm too paranoid to not buy directly from the manufacturer firsthand. Why take any chance otherwise?
🥇You ALWAYS have such great advice. It is obvious to see that YOU CARE GREATLY about your audience.
I SOOOOOOOOOOOO appreciate you, your honesty, integrity and and ❤heart.
Rex rules! The best educational videos imo- have been watching and learning for the last four years!
Don’t forget to store it in a faraday bag
Explain
@@mikef6063 protection from EMP
@@mikef6063 faraday bag blocks EMP and electric shock for your electronic devices
A waterproof case inside a faraday bag!
Along with a phone linked to your wallets and charger
Terrific analogies - really hit home!
Hey Dad, you do great work. You hit the practical topics that most gurus completely avoid.
Sincerely, it's appreciated.
I believe a video on:
What to do if your favorite exchange is down and you want to sell, and
What banks are most crypto friendly
would really be appreciated by many.
I know I'd listen, take notes, and share.
Great suggestion! I'll look into covering those subjects.
@CryptoDad Awesome 👍! By the way, your videos have helped me in the past.
I'll probably be revisiting some hardware wallet videos, because I haven't played with mine in a while! I hope everything still works 🤞
I love your content. Thank you so much for all the work you do. ❤️
I gotta be honest... I like it when Rex gets pissed off...... :) :)
LOL I was just going to make the same comment!!! 😂🤣
Bought a new ledger a couple years ago. But got scared to move it over. Thx for this. Ill do it now
Screens go dim on the nano s. Amongst many other issues with ledger.
Thank you very much, CryptoDad!
mate your a legend,remember watching your vids in 2018!!
Definitely an OG ,you included lol.
Always great content - a go to guy
My Ledger Nano X works fine for maybe 3 years and give up last week. No battery problem. Strikes while install Apps. I bought an Nano S Plus. Cheaper. I have many Wallets with Batterys. Now i use Tangem. No batterys no adapters no cables and slim design. Right choice for me.
Thanks for explaining that , more people need to watch this video. I always wondered myself what I would do if something happened to my wallet.
100% correct - I learned that the hard-way just recently when my Ledger Nano S suddenly failed, no display. I used the phone trick to view it but couldn't even get it to connect to the PC via USB the normal way. Finally, after trying seven different cables it worked, but don't want to repeat that again.
I’ve said this before…love your videos. Thanks again for your consistency and informative posts.
Awesome video. Some folks that are newer to crypto don't realize the wisdom or process or upgrading or replacing your wallet. It is a great lesson. I was a little confused by your comment that there was a problem moving your seed phrase to another wallet. It is a common practice and I have done it often. There is only one word list so there shouldn't be any issues. Maybe a subject for another video?
Yes! Please do a video about about this
You’re totally correct that a 12 or 24 word seed phrase is an industry standard. However, there is also a thing called the derivation path which can be slightly different depending on the hardware wallet manufacturer. That’s why I generally recommend that it’s better to stick with the same brand that you use to create your back up phrase. Although I have done a few videos on how to import ledger seed phrases into other brands like Trezor, there are small little idiosyncrasies that can make this complicated for the average user. Such as the fact that a ledger Live will allow you to create multiple Ethereum accounts, but the Trezor suite will not. So if you have five Ethereum accounts in Ledger Live when you import your 24 word seed phrase onto a Trezor device, you will only see one of them. This is just only one of the possible issues with migrating seed phrases into various other hardware wallets.
@ Thanks, that explains it very nicely. That last point, especially. 👍
@@CryptoDad Thank you for this answer and ETH example.
Thank you crypto dad. I’ll be upgrading my device.
I just went to Amazon half way thru this video and bought a nano s plus for 80 bucks. Thanks, Crypto Dad. I have been watching you for many years now you always have great videos.
@@williamjver great news. Please check back here if you have any problems with your new device congratulations on joining the self custody Revolution.
@@CryptoDad Isnt it risky to buy a Ledger on Amazon?
@ not at all. All ledger devices have a cryptographic “genuine check” feature. When you connect to Ledger Live, you can rest assured that it is genuine and that it has not been tampered with. It is a misconception that buying a ledger device through a third-party is dangerous. Amazon is also an official distributor for ledger they partner together, so does Best Buy
@@CryptoDad Thank you!
@@sickafusno. Just make sure it is an official STORE SETUP BY THE MANUFACTURER itself!!!!!!!
Always buy two to start with, set the up the same as duplicates, then as one goes bad, gets lost, stolen, you can use the duplicate cold storage device while ordering a new replacement for the broken one. Cheers!
Yes 🙌 sound strategy
@@CryptoDad absolutely not ! if it gets lost or stolen you should consider it compromised -- the pincode won't protect you
@@heikkidoeleman7636 it depends on the device. The ledger only gives you three tries, so it’s pretty unlikely that someone is going to be able to guess your pin in three tries. But strictly speaking if the device is stolen, best practice is to consider it compromised and transfer your crypto somewhere else, reset your wallet, and start with a new seed phrase. But in this video we’re talking about worn out devices and the original poster of this comment was talking about a device being broken not stolen or lost.
@Cryptodad, what is the latest Ledger device? Is it called ledger flex?
@@athenabarcelo9094 yes
Thanks. This might sound stupid but I wish I realised that the seed phrase worked on new devices of a different type.
As soon as the screen went dim on my ledger x I up graded straight away...NO WAY I'm gonna mess with this device...
And if your excuse is you've lost your seed phrase, BUT you can still access your old device, GET A NEW DEVICE
Tangem is my favorite no buttons or charging
Tangem can't connect to a whole bunch of dapps 🤦🤦
@@reggieregg3799 don´t know which you are referring to, but Xumm / Tangem has a lot of dapps. Besides, wouldn´t you want a separate trading account anyways -- and only use the cold wallet for storage?
It’s not the fact of spending money - it’s more the security
Hi on the flex device is it made a lot easier restoring from seed because on the previous devices it is fiddly.
Totally agree!
Good advice 👍 Do you have a video on how to move from old ledger to New?
Hi there.. So, all these keys, what they do is just saving the seed phrases?
Very helpful info, thank you.
Its your seed phrase that is important. Have at least 2 copies written down and stored in different locations ( 1 away from your home in case of fire.) I left 1 word out in case someone actually finds it.
@@mwalker52 yes 🙌
Where is a good place away from home?
@@mikef6063 At work, at a trusted friend's or family member's house. A deposit box at a bank. In your car. Under a rock. whatever works for you.
Remember that word. I have one seed phrase with .02 btc on it where I left out one word and forgot and lost it. Oops. Yeah. Big mistake.
Serendipitous. I was just thinking about this. Always have a backup device ( or 2) just in case. Better to have it a not need it, than need it and not have it.
😂🤣😂🤣😂 Rex you are the best, Sir!!! 100% Right !!!
I agree go get a new one and don't cheap out on Nano's, but more importantly, I will say go get a Metal plate. Doesn't matter if Ledger fails on you or not, as far as you got Metal plates with yeah.
You are awesome. 🎉Gen X dominating with common sense .Thank you Rex!
Go Wolverines!
Tangem no screen no buttons no battery
Good point. Less points of failure.
@CryptoDad so if all crypto is on block chain . Having a software wallet or a so called offline wallet there still online so to speak? So is there much difference? Obviously it's just about keeping your seed phrase safe ?
Careful with Tangem. I once watched a video where 1 of the cards did no work. Apparently was a magnetism issue when it was near a credit card.
@@jayyelland8289 Same principle. The hardware wallet keeps keys separate from the software wallet.
But still chip inside with 20 years guarantee.
Great advice, CryptoDad!
Appreciate this video. My Ledger Nano S screen has almost died so just ordered a Ledger Nano S Plus.
Thanks for sharing my man
I had a problem with the nano x screen, I bought a replacement screen to reset it by entering the wrong password, and bought a new device
If my crypto is on Coinomi, I can buy a Ledger and store the access to my cryto on that device, but does the Bitcoin address which Coinomi has right now, become obsolete due to a new address being created on my new Ledger?
Underrated sir
Appreciate that
Love this guy. Says every way possible not to say “dont be a dumb tight ass “ 🤣 I get it!😂
I don't like ledger...
Thank you for everything you do for the crypto community!
Love this guy!
You just shared your seed phrase online holding it up ?
I don’t necessarily have to get a ledger to restore my old ledger. Can’t I use something like trezor
It’s true that the 24 words seed phrase is an industry standard. I did a video on migrating into a treasure device using a ledger seed phrase. It is possible, but there are some quirks involved. Your treasure may not see all of the accounts you created with your Ledger device, but usually it’s pretty seamless.
ua-cam.com/video/j7l_9xAAIw8/v-deo.htmlsi=cF3DphNuAN05akzQ
Great rant nuff said!!
Those Hardware Wallet can store a few coins, Do you know any wallet that can store Altcoins such as : Shib, Pepe, bonk etcc..? Thanks
Buy a 2nd phone and use it with parity signer. That makes a great hardware wallet.
What’s that
Great needed vid....thanks.
Thanks Rex
hi dad, I like the Tangem wallet idea and price but I want a usb c connection ,not an rf connection. is there any thing like that?
There some important he no can explain : where is the private key hide?
i have nano ledger x in pretty new condition. When i try to put some of my coins. It ask for update. Is it safe to update? I heard that was risky. TIA!
So what the exchange has is your password not the btc itself?
Great video.. just subbed!!
Hi mate, really helpful video. With your keys stored on your old devices, whether working or not, what do you do to protect/remove the data before it's safe to throw them away ?
Will the tokens be accessible from both devices? Or just the one you transferred it to?
From both. The devices will be interchangeable. Just like when you make a spare key for your car. They both work in the ignition.
Hello Cryptodad! Appreciate all the easy to understand explanations. Question. .. my soon to be husband and I have separate crypto purchases..can we store all of our crypto collectively on one ledger wallet? Thank you for any assistance you can provide.
Hey crypto dad, is using a Tangem generated seed phrase safe?
Thank you for the video. My Nano S is doing exactly what you said and the screen words are no longer visible. I am getting a Nano S Plus shortly. Thanks, again. :)
Awesome
Very helpful, thank you
Bro u have revealed your seed phrase at 8.30, blurr it. 😢
fake seed dude, You must think I'm pretty dumb
great video
Great advice 😀👍
Can you replace an old ledger device with a different manufacturers device?
as long as you got your 12 word recovery phrase..
@@subrotoxing8214 Thank for the info.
24 word
Great video, thank you!
Great advise....
so you're telling me the band is not in my 📻
the other good thing about updating/upgrading your ledger is you get to retest you seed phase that you probably haven't tried since you brought the original ledger 5 years ago!! ..
I noticed my lights getting more dim. What do I do if I can’t see the numbers anymore before I can get a new one?
This confusion is due to the name given to the device : "wallet", when it should be "key"
Nano S : I think there are no more firmware updates anyway (not sure)
Thank you😊
Please explain why the same seed phrase should stay with the original wallet manufacturer. I thought the 12 or 24 word seeds phrase was interchangeable regardless of who produced the wallet
It’s not impossible to import your seed phrase from one hardware wallet to another, but there are complications that newcomers might not be aware of. This mostly involves what’s called the derivation path. Not every hardware wallet manufacturer uses the exact same derivation path when they generate their wallets. For example, ledger Live allows you to create multiple Ethereum accounts, Trezor suite does not. So if you have three Ethereum accounts, and then you import into a Trezor, you will only see one of them. you would need a third-party wallet to access those additional Ethereum accounts. That’s just one example. You will always be able to access all your crypto from a seed phrase that you’ve created, but it might not be straightforward and seamless. This is why I do not recommend, importing seed phrases between hardware device manufacturers it just keeps things simpler.
@@CryptoDad I see,, that explains a lot, thank you , good shows
Lol, ethereum.
Moving to a new Ledger- will i need to.insert the phrase list to transfer? As if i lost my oringer nano?
Exactly!
How to Restore a Ledger Device from 24-word backup phrase (Latest Version 2024) | CryptoDad FAQ: ua-cam.com/video/KaITQDsbUSU/v-deo.html
Ledger live is not letting me update firmware for nano x. Any advice? Banner on ledger live says software will update after shutdown, but doesn’t.
i had a ledger that was a gift that i never used. I actually tried to use it again and it was like battery problem. I thought i had my bcc on it and i almost had a heart attack...... i agree, but i also do that with regular flash drives.
What can someone do if their NEW ledger x stops charging ??? Also they can’t access control center
Is ellipal titan good and what exchanges is it compatible with?
No updates anymore for Nano S. Means I have to replace it anyhow?
@@markusmaier2277 as far as I know, they are still supporting the Nano S with firmware updates. But I could be wrong. I haven’t used one in a while. However eventually they will stop supporting that device. I remember Microsoft only had to support Windows 7 for several years after they came out with windows eight. I think there’s some kind of law that governs that. But eventually, they will stop supporting the device. Probably better to spend $79 on a Ledger Nano S plus before that happens
My Trezor only has a 12 word recovery is better to upgrade to new trezor safe 5 would it be worth having a 24 word recovery phrase . what's the best way to change recovery phrase .thanks
How good is Trezor
What's the deal for replacing it for a new one if everything works well?
This video is more about devices that are not working properly. But there is something to be said about upgrading to newer devices. Newer devices keep up with the times and support newer technologies and have improved interfaces.
I have an old 12 phrase nano s. Can I buy a new nano s plus and just use my old 12 word phrase?
Yes you can
How does it work if I use a new ledger with that new seed phrase? Does the old seed phrase become irrelevant ?
Both devices will still work. They both access the same wallets. In other words we call them mirror backups, of course in the case of the older device you might want to set it back to factory and dispose of it. You can set it back to factory by entering the pin incorrectly three times if it’s still working enough for that, otherwise just crush it and throw it away.
Can I access my wallet/money with my Ledger seed phrase, but without new hardware device? Is there some online service?
Good advice; however, besides the "seed phrase", the soft-wallets for each type of crypto stored on the device have to be installed on the new device for Ledger Live to be able to "see" all the crypto related to the Ledger. Just doing the "seed phrase" restoration won't automatically let you see other crypto coins you previously put on your old device. These "soft" crypto wallets that were on the old device have to be re-installed on the new device and then the crypto that was visible before on the old device will be visible again on the new device. This is my understanding. Please confirm.
Absolutely correct. Now if you already have ledger live set up with accounts from your previous device, after the restore, you just need to plug in the device and Ledger Live will check if the appropriate app is installed when you go to manage each account. If it does not find it, (the bitcoin app for example, which you describe as the soft wallet) Ledger Live will install it automatically. Or you can install the ones you need manually before you start managing your accounts. If you are starting clean on a new computer, then yes you will need to add each account manually from memory.
How would I locate lost BTC on the block chain? I have my seed phrase. What else is used to identify my crypto?
They’re a legally authorized cybersecurity company that aids victims track down and retrieve lost assets
This is the first time I have heard that I should stay in the same ecosystem, I thought my seed phrase would work on any wallet.
Sir, How about Tangem?
I just bought a new Nano S Plus because Coinbase was charging higher fees because the Nano S was out of date.
The only drawback to this is if you wait until the market is running to send to exchange to possibly sell they KILL YOU with the gas fees!!! I got a Tangem and I like it but just beware of the gas fees moving to and from!
Very good explained
If you have the S and it’s 2 years old and hardly used would you still change it and get a new one to the s plus?
@JS-nt3el it depends on your needs and your budget. If you’ve got thousands of dollars worth of crypto it shouldn’t be a big deal to spend another $79 on a better device. The ledger Nano S Plus has a lot more app storage space. But by the same token, if you’re only storing a few cryptos, it’s not strictly necessary for the extra space. My only consideration is the ledger S will eventually lose support since it’s no longer being sold. So sooner or later you’re going to need to migrate.
@ how soon should you do it? And you keep your same seeds correct?