James walked me thru the staking process,, it was easy peasy! Now i am a proud daddy of a baby neuron,, 8YearGang! 🐬non disolving. The future looks so bright i gotta wear 😎,, oh and yes, hard wallet controled, Ledger Nano X
One thing worth mentioning is that the most recent Ledger hack was a their Javascript library that allowed DAPP interaction. Almost $500k was drained from people. IMHO interacting with DAPPS for web3 kind of defeats the purpose of having a cold wallet but thats just me. I keep my HODL $ICP bag on the ledger and interact with no DAPPS, but staked amount is linked to single device because I don’t want to be a victm of another Ledger connect kit exploit
first, if you lose your internet identity and you can recreate your neuron later using your ledger on another internet identity account, you technically have one layer of security, not two. second, the ledger has a closed source firmware, unlike trezor. who knows what surprises they have in store for us. third, the ledger recovery phrase option is a back door to extract your private and public keys, as far as I understand. it doesn't sound good to me. forth, you can use an external passkey, e.g. a Yubikey, so that no passkey is stored on your phone or your computer. in this regard, it's no different from your ledger device. so, the jury is still out as to which way is more secure. btw I'm staking using both nns and ledger just to avoid putting all the eggs in one basket. thank you for the video!!! p.s. a yubikey might be even better than a ledger device. the probability of forgetting your pin code is higher than getting your fingerprint disfigured, bike accident, concussion, amnesia, lost piece of paper on which you jotted it down...
I really want you to explain to me how your first remark make sense. The statement that "just because you can restore your neuron using ledger means one layer of security". Tell me how does it make sense because last I check, you always need an Internet Identity one way or another
@@cxc this is the original comment that you're referring to in this video " @ptr738 6 days ago When you stake ICP on a Ledger and you lose acces to your NNS you just can make a new NNS identity account. You will then have acces to your ICP again. " if someone hacks your ledger, he can create a new identity and restore your neuron. this means that he or she has to overcome only one layer of security, namely your ledger. i hope this makes sense now.
@@cxc But I do agree with the comment about exposure on Ledger's side. If the Ledger is compromised (and if it can be used to access the staked funds via a new internet identityt), then you don't really benefit from NNS security. I personally split my funds between ledger and NNS to spread the risks.
Firstly i think both nns and ledger are solid options. I dont believe though that you can say the 2 layers of security is better, you could also say now there are 2 vectors attack, i.e. if your ledger is compromised someone can make new iid and move your stuff there. Personally i believe if you are heavily invested in icp it should be because you believe the nns provides better security solutions than current solutions. Mine are staked in the nns, to each his own! Wish everyone the best!!! #8YG Love your content, subbed!
And to add for the community, each II is unique and has its unique anchor number. Once access is lost it cannot be restored without a back-up method i.e recovery phrase, Ledger, Yubi Key or other device. Best security is to have multiple back-ups. I'm assuming the guy established a new II with a new anchor, but original NNS holdings/access would be lost. The only way to regain access with a Ledger is if he had it as a backup device
I believe this is correct, Dfinity requires a ledger nano to manage NNS neuron to complete onboarding steps for node providers, so it must be the best solution for security.
@@cxc no I'm not but still planning on looking into it more and at the very least contacting dfinity to ask questions, just been so busy lately hard to find time to get settled into getting the info.
I have used both ledger and trezor and have had a lot more issues with my ledger wallets vs my trezors. Random battery drain, screen errors that went away on reboot, finicky Linux desktop support, etc. Quite literally have never had an issue with any trezor. Just my .02.
Hello James, thank you for your videos that I always follow. I have a question: I have two staked NNS for 8 years, one is controlled by my ledger and the other is not. Is there some way to merge this two Neurons? Thank you.
Yubi key is the superior way IMO. Ledger is third party dependent and require updates to firmware. Better to buy back-up Yubi Keys and store them away like a recovery phrases.
Just to clarify, when you say "staked icp" do you also mean our icp not staked ? I guess yes but as you re always saying "staked" I m wondering if it s the same process
If I understand you, you charge USD 1.50 an hour, how much hours does this take one to stake those coins BTW: I am not sure why ICP is not offering help to stake, it is in their interest as well
Thanks for answering 🙂 I already set up my passkey onto the ledger. Satisfying to know it is not only on chrome and edge. So on e new phone I have to use recovery phase to put it on? And how to delete from the old phone? Have a great day 😀. BTW. What are the exact steps to stake with ledger?
When I saw the title I though “uh oh” but you did a good job explaining.
Personally I still trust the NNS more but I see your logic.
James walked me thru the staking process,, it was easy peasy! Now i am a proud daddy of a baby neuron,, 8YearGang! 🐬non disolving. The future looks so bright i gotta wear 😎,, oh and yes, hard wallet controled, Ledger Nano X
My man! Hope life is good!
One thing worth mentioning is that the most recent Ledger hack was a their Javascript library that allowed DAPP interaction. Almost $500k was drained from people. IMHO interacting with DAPPS for web3 kind of defeats the purpose of having a cold wallet but thats just me. I keep my HODL $ICP bag on the ledger and interact with no DAPPS, but staked amount is linked to single device because I don’t want to be a victm of another Ledger connect kit exploit
Tangem wallet is adding ICP to its ecosystem in a few months. It’s the best and safest hardware wallet out in my opinion and also the most convenient
first, if you lose your internet identity and you can recreate your neuron later using your ledger on another internet identity account, you technically have one layer of security, not two.
second, the ledger has a closed source firmware, unlike trezor. who knows what surprises they have in store for us.
third, the ledger recovery phrase option is a back door to extract your private and public keys, as far as I understand. it doesn't sound good to me.
forth, you can use an external passkey, e.g. a Yubikey, so that no passkey is stored on your phone or your computer. in this regard, it's no different from your ledger device.
so, the jury is still out as to which way is more secure.
btw I'm staking using both nns and ledger just to avoid putting all the eggs in one basket.
thank you for the video!!!
p.s. a yubikey might be even better than a ledger device. the probability of forgetting your pin code is higher than getting your fingerprint disfigured, bike accident, concussion, amnesia, lost piece of paper on which you jotted it down...
I really want you to explain to me how your first remark make sense. The statement that "just because you can restore your neuron using ledger means one layer of security". Tell me how does it make sense because last I check, you always need an Internet Identity one way or another
@@cxc this is the original comment that you're referring to in this video "
@ptr738
6 days ago
When you stake ICP on a Ledger and you lose acces to your NNS you just can make a new NNS identity account. You will then have acces to your ICP again.
"
if someone hacks your ledger, he can create a new identity and restore your neuron. this means that he or she has to overcome only one layer of security, namely your ledger. i hope this makes sense now.
@@cxc But I do agree with the comment about exposure on Ledger's side. If the Ledger is compromised (and if it can be used to access the staked funds via a new internet identityt), then you don't really benefit from NNS security.
I personally split my funds between ledger and NNS to spread the risks.
@@ArsenedeBienne Yeah I see your point now. Touche
@@user-en6xl2xu8p Yeah I agree. I guess the key is not to lose that seed phrase of your ledger
Firstly i think both nns and ledger are solid options. I dont believe though that you can say the 2 layers of security is better, you could also say now there are 2 vectors attack, i.e. if your ledger is compromised someone can make new iid and move your stuff there.
Personally i believe if you are heavily invested in icp it should be because you believe the nns provides better security solutions than current solutions. Mine are staked in the nns, to each his own! Wish everyone the best!!! #8YG
Love your content, subbed!
Much love, much respect.
Thanks for the invaluable info. I'm still left with the question how to waver access to a device we've already granted access for NNS.
And to add for the community, each II is unique and has its unique anchor number. Once access is lost it cannot be restored without a back-up method i.e recovery phrase, Ledger, Yubi Key or other device. Best security is to have multiple back-ups. I'm assuming the guy established a new II with a new anchor, but original NNS holdings/access would be lost. The only way to regain access with a Ledger is if he had it as a backup device
very helpful 👍 .... thanks mate
I believe this is correct, Dfinity requires a ledger nano to manage NNS neuron to complete onboarding steps for node providers, so it must be the best solution for security.
Are you a node provider by any chance? If not do you know any
@@cxc no I'm not but still planning on looking into it more and at the very least contacting dfinity to ask questions, just been so busy lately hard to find time to get settled into getting the info.
@@thorazine0076 Let me know if you land on one, I'll like to talk to him or her
@@cxc absolutely!
@@thorazine0076 Thanks for looking out. I really want to put out a node operator tutorial for the community.
I have used both ledger and trezor and have had a lot more issues with my ledger wallets vs my trezors. Random battery drain, screen errors that went away on reboot, finicky Linux desktop support, etc. Quite literally have never had an issue with any trezor. Just my .02.
Ugh, Ledger is thankfully out of my life now. What nonsense. ICP is on NNS, and the rest of my stuff on Tangem.
Sold my ice ledger nano s+ for £24 on fleabay as I only hold icp now. Glad it's gone.
How do u stake using your Ledger Nano?
Hello James, thank you for your videos that I always follow. I have a question: I have two staked NNS for 8 years, one is controlled by my ledger and the other is not. Is there some way to merge this two Neurons? Thank you.
Only Ledger Nano S makes sense, Ledger Nano S Plus and X have seed recovery options. This is a risk potential.
Yubi key is the superior way IMO. Ledger is third party dependent and require updates to firmware. Better to buy back-up Yubi Keys and store them away like a recovery phrases.
i prefer to use several "backup" devices! simply use another phone or computer device and inject the seed phrase, right!
Congratulations
Can you secure a neuron already created with ledger ?
I’ve staked my ICP in a neuron but haven’t done so using my ledger.
HI! what about losing your Ledger? If you buy another one and restore it with your seed, can you acces NNS again? Thanks from Romania
Yes you can indeed!
Just to clarify, when you say "staked icp" do you also mean our icp not staked ? I guess yes but as you re always saying "staked" I m wondering if it s the same process
Can you attach a ledger to an ii that already has a staked neuron(s)?
If what you're asking is can you retrospectively turn a staked neuron into a hardwallet controlled one the answer is no unfortunately :(
What if I already locked using the NNS only? Can I add a ledger?
no
@@pm4995 I saw this question before on the dfinity Reddit and the answer was no. please Google it yourself. idk if this is still true.
If I understand you, you charge USD 1.50 an hour, how much hours does this take one to stake those coins
BTW: I am not sure why ICP is not offering help to stake, it is in their interest as well
$150.00
I Staked on NNS ... can I get my Staking to a ledger?
I was wondering the same. I JUST locked mine up yesterday, but I believe once they're locked, they're locked.
I got my identity passkey on my mobile phone
What i have yo do when i have a new phone?
You're gonna have to port it over to the new device using the seed phrase the NNS gave you. This device porting issue is also why I recommend a ledger
Thanks for answering 🙂
I already set up my passkey onto the ledger.
Satisfying to know it is not only on chrome and edge.
So on e new phone I have to use recovery phase to put it on?
And how to delete from the old phone?
Have a great day 😀.
BTW. What are the exact steps to stake with ledger?
Sold my ice ledger nano s+ for £24 on fleabay as I only hild icp now. Glad it's gone. Got my nns login on s23 ultra. No one else has access.
Ok but can you earn 15% if you stake using a ledger?
ICP doesn’t show up anymore
James neegus III
Ledger nano is not safe
Too late!!!!!!!!
I keep hearing ledger is the most compromised
ditto!
not touching anything except the NNS! 😎👍🏾
@@binkydamaulersame
Hiya CityXcape, I need to schedule an hour call. What is the process? Do you have a discord? Thanks 1,000,000
Hit me up on instagram (JamesAllan0) we can set up a time there via chat
Good content. Ty.