Thank you so much explaining in simple. Could you do a video on how to migrate from Ledger to Trezer with end result all coins now on Trezer and Ledger is reset ? I was concerned that if I make the mistake, I will loose all the coins.
Your videos are real and very informative. Excellent production value as well. I moved over to Trezor. Didn’t use the restore codes, setup new addresses. Just a bit paranoid about my private keys and for me, I am suspect of anything Ledger says at this point. I am also concerned about the nation state’s future access to my assets. We live in a time of great promise as well as totalitarianism empowered by technology.
Now that Ledger has admitted there has always been a back door in their wallet, which is contrary to their claim to fame of being completely secure,,, Is anyone talking abouot getting refunds or taking legal action for consumer fraud???
Good educational vid. I was shocked by the actions of Ledger …. Why would they be so stupid? I love my Ledger but am seriously considering a change to Trezor or similar.
It's good to mention for less savy crypto ppl that if they opt in they can easily create new address on hardware wallet and move funds to address that didn't opt in to recovery program. New address = new seed phrase.
The other most important advantage using Trezor over Ledger..is the management... they only made dumb and not thought through decisions with profits in their mind instead of putting customers at their heart. I will not trust them anymore. Lost trust in Ledger... Once a Legend, now a legacy. What a pity.
Consider this: How do you think it is possible for UI which runs on a separate chip to display the seed phrase during the setup without previously reading it in its raw form from key storage chip (called Secure Element in Ledger terms)? For your device to be able to display the seed phrase to you during the initial setup its main chip (responsible for UI and interfaces like BT/USB) has to be able to read the private key from key storage chip. So on the harware level this is how every hardware wallet works. Firmware capabilities and brand direction in general is another thing though. And I'm not a fan of the direction that Ledger seems to favor.
I am NOT planning to use the recovery option but I am concerned about this backdoor flaw. Would add the passphrase to the ledger will help eliminate this risk? I am not interested into the “plausible deniability” benefit of the passphrase but if the keys are extracted through a back door having a passphrase would prevent loss of funds?? And if this is the case would you attach a passphrase to a PIN, or not?? Ledger stated “If you decide to attach your passphrase to a PIN, the secondary seed and secret accounts' private keys will be secured within your device's secure element. But after the passphrase is used to generate the second seed, it's discarded and never stored.” But at this point I am not sure if I should trust this statement or not, thank you for your input
If the law gets involved, trezor will be forced to give your seed... if they don't have the option at the moment, the government will force all companies to comply. Best option is a paper wallet or a stell plate wallet.
I have no trust in Ledger after this move, they could have just created a new piece of hardware with training wheels for noobs vs pissing off their OG base
All hardware wallets can have firmware that extracts the key. The very fact that the firmware can sign transactions is proof that there is some data shared between firmware and the chip. There is no way around that. There are ways to make it extremely harder. And I hope that hardware wallets do that but I dont know for sure if they do or do not.
Actually, you don't need to trust, you can verify it. What I mean? Ledger firmwares are not public and we can't verify it. Trezor is open source and we can verify it. That's why I will switch to Trezor.
Very helpful. Sounds like Ledger messed up with the communication aspect of this rollout. I will not enroll in the recovery program but will continue to use my nano X and switch over to Trevor if needed in the future. Thanks again!
Question. Doesn't all other hot wallets like trust wallet, coinbase wallet, etc all have a icloud backup for your seed phrase as well? What is the difference with Ledger doing it now?
IMHO such a backup is ok for a hot-wallet, because it is a hot-wallet (you don't have a lot of crypto on it). But the private key should NEVER leave a cold-wallet. Also Ledger "lied" to us for years about the security.
@@runedust9875 oh I see. Thanks for the explanation. So what cold wallets are best now? I’ve always heard ledger. I’ve already been tied up with the voyager situation.
It always boils down to the weakest link. The mere fact that the company would have to reveal the seed phrase elements to comply with a subpoena brings us right back to square one. You're still trusting a third party, which is something that BTC was created to avoid. Engraving your seed phrase elements onto steel is still a more secure way to store seed phrase elements IMHO
open source is overestimated and also dangerous some times. ledger does this because third parties that secure and audit the firmware strongly recomend no to. i dont agree with what you said
Around minute 7 , the txt you highlight, says, pretty clearly : "inaccessible to malicious parties" I don't see, how the seed being accessible by friendly parties (firmware vendor) contradicts any of the previous or current statements.
Trezor isn’t focused on adding new coins though, it wouldn’t be good for non btc maxis who’re new to the market buying newer coins and coins such as ICP and Hbar
Opt in doesn’t matter imo.. the firmware update already creates the back door. Opting in is just you taking their word that they will only share your secret phrase when you opt in. But their word isn’t a security feature.. it can be broken at anytime.
Well, the "backdoor" is still there on your Ledger for potentially malicious third-parties to expose, regardless if the opt in is offered to you or not.
Thank you so much explaining in simple. Could you do a video on how to migrate from Ledger to Trezer with end result all coins now on Trezer and Ledger is reset ? I was concerned that if I make the mistake, I will loose all the coins.
Also note that Ledger had a MAJOR issue with their customer information not long ago. They leaked personal identity info quite well so why not your private keys?
Your private keys shouldn't be given to ledger custodians. Literally just use an online wallet atp. Ledger never has access to the seed phrase otherwise
Ledger reste un des meilleurs portefeuilles physiques et le plus sûre. Ledger a fait une erreure cela arrive aux plus grandes compagnie mais la qualité demeure toujours.
@@digger5521 not to mention most people can't read code, and need to trust other people can, and to a good extent. And include that fact that anybody can copy it and change it, you need to know you are using the right one! Multiple slip ups and attack vectors for everyday users can actually make it worse. The irony of people now banging this open source mantra while watching on devices with closed source chips!
Goodbye, Solana! I'm switching gears and going all-in on WinpToken in the presale. This dragon-themed meme coin has got me hooked, and I can't wait to see where it takes us!
I will be very happy to send you mine I just wiped it when i heard a bout the backdoor... Sell it to you cheap if you want it??? I moved everything to Tangem
@@coocluckclanmusic and I keep my crypto in various wallets, I dont keep them all in one place. I do like safepal since they are quite secure and have the most crypto tokens you can store in. and probably the best security.
So if I'm understanding right as long as you don't use online key back up/recovery you're perfectly safe from this backdoor concern. Correct? I've been firm with only keeping hard copies of my seed phrase and really don't want to replace my ledger as I just got it lol
Nobody is safe from the back door concern. The ledger developers Promised that No one has the ability to access your secret words. They shouldn't have the capability to have a back door. This affects all ledger owners regardless of whether you opt in or not.
Solana, it's been fun, but the allure of WinpToken in the presale is too strong to resist. I'm flipping my Solana for a chance to soar with the dragon of meme coins! Let's make some fiery moves!
I guess I’m just worried about that password app to check my seed phrase. I used it and now afraid some rouge ledger employee will steal my seed. How safe is that seed phrase app
Solana, you've served me well, but the WinpToken presale is calling my name. I'm swapping my Solana for a chance to join the meme coin revolution. Let's make some legendary moves!
Russia Russia Russia, another msm brainwashed individual lol. Russia is actually fighting these same globailist elitist pigs that want to take us down, and have no problem changing the dollar to digital.
Flipping Solana to WinpToken in the presale? You bet I am! Say goodbye to frogs and hello to dragons. It's time to unleash the power of this epic meme coin!
Are you still going to use your Ledger? Let me know!
Thank you so much explaining in simple. Could you do a video on how to migrate from Ledger to Trezer with end result all coins now on Trezer and Ledger is reset ? I was concerned that if I make the mistake, I will loose all the coins.
I'm keeping my NANO S. Ledger are too big a company to let this slip go by without fixing. All wallets have had issues even Trezor
As of now yes! I'm still using nano x ledger and I'm worry about the news😁 2hat is the best alternative method of this issue bro?
You are spreading false information.
i got one but i never used it.
Your videos are real and very informative. Excellent production value as well. I moved over to Trezor. Didn’t use the restore codes, setup new addresses. Just a bit paranoid about my private keys and for me, I am suspect of anything Ledger says at this point. I am also concerned about the nation state’s future access to my assets. We live in a time of great
promise as well as totalitarianism empowered by technology.
Now that Ledger has admitted there has always been a back door in their wallet, which is contrary to their claim to fame of being completely secure,,, Is anyone talking abouot getting refunds or taking legal action for consumer fraud???
I hope so.
How to destroy a reputed company in a few days
Good educational vid. I was shocked by the actions of Ledger …. Why would they be so stupid? I love my Ledger but am seriously considering a change to Trezor or similar.
They want to be KYC compliant for Europes potential regulations most likely….
It's good to mention for less savy crypto ppl that if they opt in they can easily create new address on hardware wallet and move funds to address that didn't opt in to recovery program. New address = new seed phrase.
I still have the first Ledger. The Ledger Nano. I don’t think they even have that update on that one.
I can’t find mine 😭 I don’t think there was a ton on it but probably $2000 ETH now 😂 🤦♂️
Safepal is the best. Everything is literally offline. Even transferring from hot wallet to cold wallet. All offline.
The other most important advantage using Trezor over Ledger..is the management... they only made dumb and not thought through decisions with profits in their mind instead of putting customers at their heart. I will not trust them anymore. Lost trust in Ledger... Once a Legend, now a legacy. What a pity.
Consider this:
How do you think it is possible for UI which runs on a separate chip to display the seed phrase during the setup without previously reading it in its raw form from key storage chip (called Secure Element in Ledger terms)? For your device to be able to display the seed phrase to you during the initial setup its main chip (responsible for UI and interfaces like BT/USB) has to be able to read the private key from key storage chip. So on the harware level this is how every hardware wallet works.
Firmware capabilities and brand direction in general is another thing though. And I'm not a fan of the direction that Ledger seems to favor.
I am NOT planning to use the recovery option but I am concerned about this backdoor flaw. Would add the passphrase to the ledger will help eliminate this risk? I am not interested into the “plausible deniability” benefit of the passphrase but if the keys are extracted through a back door having a passphrase would prevent loss of funds?? And if this is the case would you attach a passphrase to a PIN, or not?? Ledger stated “If you decide to attach your passphrase to a PIN, the secondary seed and secret accounts' private keys will be secured within your device's secure element.
But after the passphrase is used to generate the second seed, it's discarded and never stored.”
But at this point I am not sure if I should trust this statement or not, thank you for your input
Ledger is safer than cash in banks and Ledger isn't part of any social credit scoring. Very informative video, thank you! I just subscribed and liked.
Thanks for joining Tony! Welcome aboard
If the law gets involved, trezor will be forced to give your seed...
if they don't have the option at the moment, the government will force all companies to comply. Best option is a paper wallet or a stell plate wallet.
i keep thinking....its just time before regulatory steps interfere with seed security...
Hey mate, Love your videos and content. So what did you do? Been liking the look of the Trezor Safe 3, Tangem, and Keystone 3 Pro.
What$app’
Great video! Thank you! What will be your recommendation for the secure migration of Solana, Polka dot, Ada, and such from the ledger?
I have no trust in Ledger after this move, they could have just created a new piece of hardware with training wheels for noobs vs pissing off their OG base
Took the leap and invested 1k during the WinpToken presale. Feeling optimistic about its future prospects!
All hardware wallets can have firmware that extracts the key. The very fact that the firmware can sign transactions is proof that there is some data shared between firmware and the chip. There is no way around that. There are ways to make it extremely harder. And I hope that hardware wallets do that but I dont know for sure if they do or do not.
Actually, you don't need to trust, you can verify it. What I mean? Ledger firmwares are not public and we can't verify it. Trezor is open source and we can verify it. That's why I will switch to Trezor.
bro I didn't know all about this, I did update the firmware , now i don't know what to do. i spend like 200$ on ledger , now have to buy trezor 200$
Very helpful. Sounds like Ledger messed up with the communication aspect of this rollout. I will not enroll in the recovery program but will continue to use my nano X and switch over to Trevor if needed in the future. Thanks again!
Question. Doesn't all other hot wallets like trust wallet, coinbase wallet, etc all have a icloud backup for your seed phrase as well? What is the difference with Ledger doing it now?
IMHO such a backup is ok for a hot-wallet, because it is a hot-wallet (you don't have a lot of crypto on it). But the private key should NEVER leave a cold-wallet.
Also Ledger "lied" to us for years about the security.
@@runedust9875 oh I see. Thanks for the explanation. So what cold wallets are best now? I’ve always heard ledger. I’ve already been tied up with the voyager situation.
So if I just have an old nano S and I’m not opting for anything and I’m just holding onto my bags. Am I safe?
Yes
It always boils down to the weakest link. The mere fact that the company would have to reveal the seed phrase elements to comply with a subpoena brings us right back to square one. You're still trusting a third party, which is something that BTC was created to avoid. Engraving your seed phrase elements onto steel is still a more secure way to store seed phrase elements IMHO
The fact still remains that anybody can inject malicious firmware to get your private keys.
They can’t inject malicious firmware without knowing your pin code.
And 3 failed attempts its a wipe.
How do we go migrating from Ledger to Trezor? Time for new video? Ledger just pulled a Bud Light move
Yea we need that
open source is overestimated and also dangerous some times. ledger does this because third parties that secure and audit the firmware strongly recomend no to. i dont agree with what you said
Any updates on this topic?
Hi, do you use any seed phrase storage device? Any advice or recommendations?😊
Can you make an update video on which hardware wallet to recommend, pls! Thank you!
Around minute 7 , the txt you highlight, says, pretty clearly : "inaccessible to malicious parties"
I don't see, how the seed being accessible by friendly parties (firmware vendor) contradicts any of the previous or current statements.
What about tangem hardware wallet. What do you think about it is it secure.
Basically, Ledger lied about their “secure element”
Trezor isn’t focused on adding new coins though, it wouldn’t be good for non btc maxis who’re new to the market buying newer coins and coins such as ICP and Hbar
Tangem 2.0 cards are not firmware upgradable. This prevents them from being susceptible to new firmware injection attacks.
So, if a ledger owner does not opt in for the seed recovery is ot still safe to use? Not opting in seems like the best bet that I would use.
Opt in doesn’t matter imo.. the firmware update already creates the back door. Opting in is just you taking their word that they will only share your secret phrase when you opt in. But their word isn’t a security feature.. it can be broken at anytime.
What about the Elipal titan pro 2? What are your opinions on that?
So if I don’t opt for it , is it still secure ?
Never heard of it . They say there is no such posibility, where do you habe the info from ?
Do you have any warning about Ellipal air-gaped wallet? Thanks
Does this affect the nano s plus?
Great info.... I'm using a CoolWallet X for alt coins. Can you comment on that how safe is it?
Bro this is only affect in new nano x program not old nano x? Am I correct?
Nano S not effected . All cold wallets are suspect, even open source relies upon them giving you the ACTUAL code....
What if you don't opt in and you are in far far away land where opt in isn't even offered? How safe is your ledger in that scenario ?
Well, the "backdoor" is still there on your Ledger for potentially malicious third-parties to expose, regardless if the opt in is offered to you or not.
Thank you so much explaining in simple. Could you do a video on how to migrate from Ledger to Trezer with end result all coins now on Trezer and Ledger is reset ? I was concerned that if I make the mistake, I will loose all the coins.
Could go through an exchange
Send from ledger to exchange…then exchange to new cold storage
I was hacked 2 weeks ago o ledger , my whole portfolio was stolen. I need advice , would you be able help me figured this out ?
Also note that Ledger had a MAJOR issue with their customer information not long ago. They leaked personal identity info quite well so why not your private keys?
Your private keys shouldn't be given to ledger custodians. Literally just use an online wallet atp. Ledger never has access to the seed phrase otherwise
Ledger reste un des meilleurs portefeuilles physiques et le plus sûre. Ledger a fait une erreure cela arrive aux plus grandes compagnie mais la qualité demeure toujours.
What do you think about Ngrave?
Pulled everything from ledger to Dcent
Ledger announced today they're becoming opensource too
very engaging with the infographics too
why@-VirtuaIBacon__
@-VirtuaIBacon__ why tf
Ledger already had our trust on a cliffhanger because they are closed source code. Now a backdoor?! It feels like a kick in the nuts!
Open source relies on you trusting they are giving you the ACTUAL full code...not secure really
@@digger5521 not to mention most people can't read code, and need to trust other people can, and to a good extent. And include that fact that anybody can copy it and change it, you need to know you are using the right one! Multiple slip ups and attack vectors for everyday users can actually make it worse.
The irony of people now banging this open source mantra while watching on devices with closed source chips!
So keep using ledger just don’t opt in for the recover program?
yep. no worry, just dont subscribe,
@@victortancheongweethanks man
Ledger will be a hardware wallet that can broadcast keys to the internet? Then what's the point of using a "Hardware Wallet"🤦♀
Because it is a key only you have access to 2
Any thoughts on Tangem?
I stopped using tangem. I still can't get into one of my wallets with them. The app and cards have been glitching after over a year of owning them
What if the same story will be with the other cold wallets (for example in one year)?
Is your ledgr nano X safe when you don't update to the the ledger recover update?
Yes for now. But you will eventually need to update your firmware or your device will not work properly in the future.
@@The-Bengal-Boys what if you got a nano s
How do you pass crypto to a steel wallet
Make a video about air-gapped hardware wallets 👌🏻
What about Tangem cold wallets?
I've been closely watching WinpToken gain traction in the meme coin scene. Exciting times ahead!
Can you make a list on unreleased projects you are looking to invest in , people like these kind of videos😉,thank you
this is why metamask is king lmao idk whats the obssession with hardware wallets
The seed phrase was never supposed to leave a hatdware device. Metamask is more vulnerable to attacks and is always connected to your pc
Always interesting 👍👍👍thanks a lot...The French Bro 🇨🇵
Sounds to me that this is one step closer to owning nothing and being happy!
Goodbye, Solana! I'm switching gears and going all-in on WinpToken in the presale. This dragon-themed meme coin has got me hooked, and I can't wait to see where it takes us!
it will take you to lose your money
I will be very happy to send you mine
I just wiped it when i heard a bout the backdoor...
Sell it to you cheap if you want it???
I moved everything to Tangem
I use a safepal , also use a ledger but safepal has never been hacked. easy to use too.
Can you really trust binance tho with what shady shit they are in right now?
@@coocluckclanmusic everyone is doing shady shit, including the SEC.
@@coocluckclanmusic and I keep my crypto in various wallets, I dont keep them all in one place. I do like safepal since they are quite secure and have the most crypto tokens you can store in. and probably the best security.
So if I'm understanding right as long as you don't use online key back up/recovery you're perfectly safe from this backdoor concern. Correct? I've been firm with only keeping hard copies of my seed phrase and really don't want to replace my ledger as I just got it lol
Nobody is safe from the back door concern. The ledger developers Promised that No one has the ability to access your secret words. They shouldn't have the capability to have a back door. This affects all ledger owners regardless of whether you opt in or not.
Solana, it's been fun, but the allure of WinpToken in the presale is too strong to resist. I'm flipping my Solana for a chance to soar with the dragon of meme coins! Let's make some fiery moves!
I guess I’m just worried about that password app to check my seed phrase. I used it and now afraid some rouge ledger employee will steal my seed. How safe is that seed phrase app
I think the ledger is easy to lose. I have been using the Arculus, and I guess it hasn’t had a lot of time but as a card. that makes sense to me.
Looking forward to your wallet review.
Solana, you've served me well, but the WinpToken presale is calling my name. I'm swapping my Solana for a chance to join the meme coin revolution. Let's make some legendary moves!
How about ledger s plus?
The combination of memes and real-world utility in WinpToken has me intrigued. Looking forward to its future growth!
Open source is not necessarily good. Esp if you can't read code.
Does metamask works like this😢
They doesn't have secure chip ?
They are securing our SP automatically?
Idk.. Trezor is owned by a country in close relations with Russia.
Russia Russia Russia, another msm brainwashed individual lol. Russia is actually fighting these same globailist elitist pigs that want to take us down, and have no problem changing the dollar to digital.
so if u just simply opt out of KYC there is 0 issue with any leak whatsoever ?
apparently not, government can still subpoena them for seeds
Yup, our so called gooberment can take away our rights as a private citizen, just look at how they regulated crypto in some states.@@olliee2353
Don’t use a third party keep your keys safe and have back ups…
The unique blend of memes and utility in WinpToken has caught my attention. Looking forward to seeing how it unfolds!
it will unfold as rug pull
if you have a ledger s and you wipe it clean then it will up upo lode the recovery phrase
Man every couple of months the crypto world has a major problem
Flipping Solana to WinpToken in the presale? You bet I am! Say goodbye to frogs and hello to dragons. It's time to unleash the power of this epic meme coin!
already planning to migrate to a differnt device, like NGRAVE.
Amazing info
I've got a strong feeling that WinpToken is the next big meme coin on the rise. Exciting times ahead!
Is ledger now open source ?
What$app’
Please do a review on BC VAULT
on the other hand, trezor has been hacked, ledger has not... for now.
WinpToken has piqued my interest with its innovative approach. Can't wait to join the meme race!
Ledger has stated there recover program hasn’t been released yet. There also going provide all there code to be open source
Clearly explained👍🏼
What about metamask
Ledger is also going opensource soon
Trezor have partner up with the goverment, its a no
trezor also has a backdoor.
Love your videos, but you need to get the scammers off of your comments. Very unsafe for newbies. Please do this immediately