14 votes

Is it safe to use a second-hand Trezor (like from ebay)?

If you update the firmware you are probably safe, but why take the chance? The Trezor itself (or even the included USB cable https://www.wired.com/2014/07/usb-security/) could have been corrupted/...
Nicole Olsen's user avatar
10 votes

How to make totally secure Bitcoin transactions?

If your machine connects to the internet at all, it should be considered potentially compromised. Consider what happens to it if you visit GMail, which happens to deliver an ad with compromised ...
Hannah Vernon's user avatar
  • 1,563
10 votes

What exactly is the benefit of buying a hardware wallet for Bitcoin?

Hardware wallets are generally designed to securely store your private keys in an always-offline environment ("cold storage"). This allows the user to have confidence that their coins will ...
chytrik's user avatar
  • 18.3k
9 votes
Accepted

How to make totally secure Bitcoin transactions?

The primary concern with Bitcoin security is where your private keys are stored. In your scenario the private keys are stored on a Linux laptop which is not unreasonable if you follow good internet ...
sipsorcery's user avatar
8 votes
Accepted

How do I use the new GPG signing feature with my Trezor?

GPG Keys "TREZOR can now securely generate GPG keys for signing of emails or documents (using the NIST256P1 and Ed25519 curves). Currently, this update does not allow for GPG decryption, a feature ...
prodigious's user avatar
7 votes
Accepted

Projections for reductions in price of hardware wallets

This data on Ledger production costs seems relevant: https://forum.daohub.org/t/ledger-proposal-for-the-dao-1-ethereum-hardware-wallet/1750 Significant price savings exist with orders as small as 6,...
Sebastian Ullrich's user avatar
7 votes

What is the controversy with Ledger's new recovery service?

Christopher Allen answered the question on Twitter. In large part because we didn't expect seeds to ever leave the Ledger device. As it turns out (as all hardware wallet designers already know), all ...
Michael Folkson's user avatar
7 votes

What is the controversy with Ledger's new recovery service?

Ledger Wallet users are concerned if their keys are actually cold and secure after the latest "feature" release and several tweets that have later been deleted by Ledger. The answer to ...
m1xolyd1an's user avatar
  • 5,646
6 votes
Accepted

Handwritten paperwallet or hardwarewallet to store Bitcoins?

True. There is a standard algorithm for generating the keys from the seed words (BIP 39 / BIP 32). Most hardware wallets follow this algorithm (check before you buy). So even if the hardware device ...
Nate Eldredge's user avatar
6 votes
Accepted

How do hardware wallets communicate with the outside world?

A hardware wallet only has responsibility for handling private keys. This includes generating addresses (when receiving), and signing transactions (when sending). It needs some sort of communication ...
torkel's user avatar
  • 446
6 votes
Accepted

What is the difference between PSBT support in Coldcard and Trezor?

The Coldcard handles PSBT directly and natively. A PSBT can given to the device by writing it to a microSD card and inserting the card into the device. It will be able to load the PSBT and process it ...
Ava Chow's user avatar
  • 70.4k
6 votes
Accepted

Can private keys be physically extracted from a Ledger hardware wallet?

There is currently no way I could find that someone could extract a private key out of a Ledger wallet. So if someone steals your Ledger today, they should not be able to spend your coins. However, ...
Vojtěch Strnad's user avatar
5 votes

How to make totally secure Bitcoin transactions?

Nobody else has made much of a mention of physical security, yet. You may also like to consider the possibility of: Fire; do you have another copy of your private keys if your building burns down? Of ...
Highly Irregular's user avatar
5 votes

How do I use the new GPG signing feature with my Trezor?

(trezor-agent developer here...) Please take a look at the latest trezor-agent version here. I'd be happy to fix any issue with the documentation, and extend it with more examples to make it more ...
Roman Zeyde's user avatar
5 votes
Accepted

Is it possible to design a hardware wallet that can allow operation of a routing Lightning node with the security level of a hardware wallet?

Yes, a hardware wallet could be designed for use on the Lighting Network, but no, there's no such thing as eliminating risk of theft. There is always risk of theft, no matter what you do. A hardware ...
Jestin's user avatar
  • 8,812
5 votes
Accepted

Can hardware wallets actually display the amount of funds leaving your control?

That is correct, a hardware wallet does not have access to any information from the blockchain except that provided by the host computer. So it does not know anything about the amounts unless the host ...
Ava Chow's user avatar
  • 70.4k
5 votes
Accepted

Same seed on multiple hardware wallets

Yes, by using the same seed phrase (and derivation path), you can have multiple instances of the same wallet. A wallet does not 'contain your bitcoin', it just contains the keys that allow you to ...
chytrik's user avatar
  • 18.3k
5 votes

Why are n public keys needed for reconstitution of an x of n multisig?

The conditions for spending a coin (UTxO) are expressed using a small script. In order to be able to recover your coins, you need to back up both: The script template The private key(s) corresponding ...
Antoine Poinsot's user avatar
4 votes
Accepted

Hardware wallet teardowns and side channel attacks

The researcher Jochen Hoenicke has done some work on the Trezor. He was able to extract the private key by monitoring the power cable with an oscilloscope. Trezor has since updated the firmware to ...
Murch's user avatar
  • 75.3k
4 votes

How can I verify the authenticity of a ledger Nano s hardware wallet?

Found this just after asking the question. https://blog.ledger.co/how-to-protect-hardware-wallets-against-tampering-cad35cb72c1
Wilbur's user avatar
  • 81
4 votes
Accepted

How are Ledger Nano S private keys protected?

Ledger uses a secure element chip to store the private key. In simplified terms this means that the private key is stored on a special chip that is almost like a small computer with a Operating ...
user44404's user avatar
  • 546
4 votes
Accepted

If anyone with your seed phrase can generate your wallet private keys, what is the advantage of a hardware wallet?

Well, in both cases, your seed words are ultimately the key to the wallet. If you use a regular wallet, you open yourself up to a number of other attacks Malware on the device that runs the software ...
Raghav Sood's user avatar
4 votes
Accepted

If hardware wallet provider disappears, can I still manage my coins?

I understand these wallets only work with provider's mobile app, online interface or their computer software, correct ? No. Some of the most popular hardware wallets are supported by third party ...
Ava Chow's user avatar
  • 70.4k
4 votes
Accepted

How does a hardware wallet interact with the bitcoin network?

No. The hardware wallet company sometimes runs a node, but you could just as easily use a client like Electrum instead, and use Electrum nodes instead with your hardware wallet. All the node is used ...
ieatpizza's user avatar
  • 2,068
4 votes

Can I connect a hardware wallet to Bitcoin Core using HWI?

Yes, you can connect an external signer to Bitcoin Core. You can either use HWI (Hardware Wallet Interface), which is developed by Bitcoin Core developers but currently considered experimental, or use ...
Vojtěch Strnad's user avatar
3 votes

Do any hardware wallets / hardware platforms that rely on or allow open source firmware?

See here the latest list of 27 hardware wallets, many use open source software in the meantime - flagged with a (O). The other ones are flagged with a (N). For security reasons it is of course not ...
tempo's user avatar
  • 311
3 votes

Do any hardware wallets / hardware platforms that rely on or allow open source firmware?

The software of major hardware wallets (The top three are: KeepKey, Trezor and Ledger) are open source (and other hardware wallets are mostly open source) If you want to know whether their firmware is ...
MCCCS's user avatar
  • 10.2k
3 votes
Accepted

Is it safer to use one type of hardware wallet of several?

Personal, I would use multiple wallets just in case some exploit is found in the future. For the more paranoid/safety conscious person, I would also place the hardware wallet in a mini faraday cage, ...
Astad's user avatar
  • 212
3 votes

Encrypting wallet manually instead of using hardware wallet

The benefit of hardware deterministic wallets is that your keys are permanently kept offline and secret, as long as you don't leak your seed words. To spend bitcoin, the transaction signing is ...
Adam Millerchip's user avatar
3 votes
Accepted

What happens when a hardware wallet, like Trezor, suffers a hardware damage?

For Trezor specifically, just check their website for details. Essentially, you need to have: a new or wiped Trezor wallet. your Trezor recovery card, filled out correctly. a computer with the ...
Hannah Vernon's user avatar
  • 1,563

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