5 Things NO ONE KNOWS About Hardware Wallets

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  • Опубликовано: 22 дек 2024

Комментарии • 283

  • @William0271
    @William0271 14 дней назад +3

    Reported and downvoted for clickbait title. Everybody remotely interested in the topic knows every single one of those. Why don't you try to teach us how to turn on a computer while you're at it.

    • @RhettReisman
      @RhettReisman  День назад +3

      How to Turn On a Computer
      1. Find the Power Button (this could be hard for you but you'll figure it out if you are very patient)
      • Look at the computer. The power button is a small button on the front or the side. It might have a circle with a line on it: ⏻.
      • If it’s a laptop (the kind you can fold), the button is near the keyboard.
      2. Press the Button (in this context the word press means to apply pressure which is like when you hit something)
      • Use your finger to press the button one time.
      • Just a quick press, not too hard. You don’t need to hold it down.
      3. Wait a Little Bit
      • After pressing the button, the computer will start to make noise or lights will turn on. This means it’s working.
      • You might see the screen light up, but it could take a few seconds. Be patient, even if it takes a while - I believe in you!
      4. Check the Screen
      • If the screen stays dark, make sure the computer is plugged into the wall or the charger is connected (for a laptop).
      • If it’s plugged in and still doesn’t work, ask someone nearby to check it for you.
      5. Log In (If Needed)
      • If the computer asks for a password, type it in VERY slowly and carefully.
      • If you don’t have a password, you might just see the desktop (the background with icons and pretty pictures).

    • @fatlip8315
      @fatlip8315 8 часов назад

      ​@@RhettReisman security tip for preventing the PC from being turned on - and it looks really cool. Pull off all of the buttons, protective PC covers, and don't mark as On Button or Off Button. Had an actual IBM PC and stripped everything off that wasn't needed. Including buttons. Looks like garbage, but if they can't turn it on, they can't access it.

  • @exodus
    @exodus Год назад +18

    Hey, Rhett! Thanks so much for the shoutout and for being a part of the Exodus ecosystem 💙. There are many improvements coming in our bi-weekly releases 🚀 - BT

    • @RhettReisman
      @RhettReisman  Год назад +3

      Thanks for making a great product 🔥🔥🔥

  • @kevinswiney1195
    @kevinswiney1195 9 месяцев назад +3

    Thank you Rhett. Ive used Arculus a few years with zero problems but recently ordered the NGRAVE ZERO. Im an old school vet in the space but obviously still learning because I had no clue about multi sig. Will find out if Arculus and NGRAVE support it and look for a 3rd to implement a 2 of 3 setup! Thank you man!!!!

    • @RhettReisman
      @RhettReisman  9 месяцев назад

      Epic!! Sounds great - happy to help :)

  • @RhettReisman
    @RhettReisman  Год назад +31

    Do you guys use hardware wallets?

    • @MykeMellow
      @MykeMellow Год назад +2

      Looking for a solid wallet to store Cardano. I heard the air gap term before but you are the first person to explain what that is.

    • @patrick_mactan
      @patrick_mactan Год назад +2

      Is it safe to use the same auto-generated address to receive multiple crypto withrawals from a third party platform to the cold wallet?

    • @RhettReisman
      @RhettReisman  Год назад +4

      You can receive funds to that address generated by the hardware wallet multiple times, but youll lose some privacy. If someone puts that public key into a block explorer they’ll see every transaction you’ve ever made there

    • @patrick_mactan
      @patrick_mactan Год назад +1

      @@RhettReisman Thanks! Just ordered an additional wallet for that.

    • @debbiepolak4183
      @debbiepolak4183 Год назад

      @RhettReisman what wallet do I need to get my money off of the trust wallet! Please, can lease help me. Which cold wallet do I need? Please

  • @jefferygarcia2011
    @jefferygarcia2011 18 дней назад +5

    This is one of the few videos I've found that actually explains how the wallets/crypto work. Appreciate you!

    • @RhettReisman
      @RhettReisman  День назад

      Cheers Jeffery happy to help let me know if there are other questions you have :)

  • @_.Alucard._
    @_.Alucard._ 10 дней назад +5

    The most important part is about making an offline backup of your SEED, hide it somewhere, don't share it with anyone and don't take digital copies.
    Even if the cold wallet stops working, it is possible to restore it on another cold wallet entering the SEED.

    • @PIXELSURPRISE
      @PIXELSURPRISE 9 дней назад +1

      Yessssss. ❤

    • @exelmans8855
      @exelmans8855 3 дня назад

      As usual people never talk about the derivation path. You need it, not only the seed phrase.

    • @_.Alucard._
      @_.Alucard._ 2 дня назад

      @@exelmans8855 Most people are going to use the very same cold wallet there is no need to make everything even more complicated than already it is.
      The average person just needs to know how to store the SEED offline.

    • @RhettReisman
      @RhettReisman  День назад

      Exactly!

  • @skyhackerfpv7104
    @skyhackerfpv7104 Год назад +7

    Great overview of hardware wallets! And the multi sig bonus content was top notch. Thank you!

    • @RhettReisman
      @RhettReisman  Год назад +2

      Thanks man 🙏 Glad to help 🧠🚀🌙

  • @rscott3086
    @rscott3086 9 месяцев назад +2

    I am dumping my Ledger due to backdoor updates and the government could force Ledger to close or defend my crypto. BUT in the mean time I use the Ledger app to view my crypto. Since it is tied to internet, does it make it possible to use my app to trade/send my crypto?

    • @RhettReisman
      @RhettReisman  9 месяцев назад +2

      Ledger live can’t trade your crypto - it is just a window into the addresses of your wallet. You (or a malicious government) would need access to your physical ledger to sign a transaction

  • @et778
    @et778 Год назад +1

    1- how can avoid the FTX collaps while in Binance
    2- how the whole ecosystem works?
    if I want to buy more? or if I want to change to stable coin? how does the ecosystem of managing it

    • @RhettReisman
      @RhettReisman  Год назад

      1. You can automatically withdraw your coins every week to a hardware wallet using a method like we've built here: ruclips.net/video/0FvnTtbz4cA/видео.html
      Not sure what the ecosystem questions mean.

    • @et778
      @et778 Год назад

      @@RhettReisman
      are there any fees that I need to consider?
      about the ecosystem
      example:
      buy crypto from an exchange then store it to a cold wallet and then sell it
      as you can see buying>storing>selling there are steps and is it worth it? Are there fees or huge fees that I would be considering not doing or not worth the effort? or I'm doing it incorrectly or inefficient

    • @RhettReisman
      @RhettReisman  Год назад +1

      Buying -> storing -> moving back to exchange -> selling
      Or
      Buying -> storing -> selling directly to another person / buying something
      There are fees every time you send it associated with the blockchain. There are fees everytime you buy or transfer from the exchanges. The fees are all small for the most part except on ETH and ERC-20 tokens.

  • @frankmajor7384
    @frankmajor7384 Год назад

    Rhett great site just subscribed Im a newbie looking at a nano x good choice in your opinion??

    • @RhettReisman
      @RhettReisman  Год назад

      Ledger makes me a little uncomfortable after the new ledger recovery feature but if you’re really technically challenged it might still be a good option.
      Check out this trezor tutorial, if you’re able to follow, I’d go with a trezor. ruclips.net/video/whFsn8KxFkA/видео.html

  • @gregt301
    @gregt301 Год назад +4

    Thanks for the video. Just curious, how do you feel about having a single HW wallet but using multiple "25th words" to segregate funds for better security? I figure this is better than having everything in the same wallet, but maybe not as good as having multiple wallets. But, on the other hand, multiple wallets introduces a lot of complexity. Thoughts?

    • @narwhaltacos2197
      @narwhaltacos2197 Год назад +1

      I’m toying with the same question. I heard NVK (from Coinkite/Cold Card) mention that multi-sig is likely too much complexity for most individuals, and that a significant degree of additional security can be achieved via a 24-key passphrase w/ and added 25th secret password that is stored only in memory. Looking for more background info about this….

    • @RhettReisman
      @RhettReisman  Год назад +3

      There's an idea in the security community that you should use a setup that a lot of other people are also using (because usually those setups are the most robust).
      You can contrast this to what Luke Dash Jrs supposedly very complex very unorthodox setup for holding his bitcoin (that eventually led to him losing all his bitcoin).
      I personally would prefer just setting up a multisig because I haven't messed around with creating multiple 25th word passwords, but as long as you understand the process and have it documented in a way that whoever you want to inherit your bitcoin can ultimately understand it - I think it's fine.

    • @gregt301
      @gregt301 Год назад +3

      @@RhettReisman Thanks for the reply! Totally agree about eliminating unnecessary complexity (which is partly why having multiple wallets seems risky). Personally, I find the "25 word" approach very simple. When I plug in the wallet, the software just asks if I have a "hidden wallet", and I enter a passphrase (which is the "25th word"). I could literally have an unlimited number of different wallets by just using different pass phrases. But as you said, understanding the process and documenting it for others is the important thing. For me this seems easier, but "to each his/her own".

    • @aussieman8738
      @aussieman8738 Год назад +2

      @@gregt301 I agree. I find the best and simple way is the 25th word passprase Unlimited accounts. There is the best

  • @fightthebully3331
    @fightthebully3331 Год назад

    Muti sig. Is like 3 factor authentication right?

    • @RhettReisman
      @RhettReisman  Год назад

      It’s like Voldemorts horcruxes. You can’t kill him until you find them all

  • @glendaminarcin7819
    @glendaminarcin7819 Год назад

    When a usb ledger wallet is first time activated, do you have 24 hours to use it, before activating it again?

    • @RhettReisman
      @RhettReisman  Год назад

      No, you can use it whenever you want there are no time limits

  • @GoodieGomez
    @GoodieGomez Год назад

    Any Suggestions of Tangem wallet if their APP stops working how to transfer crypto to another wallet??

    • @RhettReisman
      @RhettReisman  Год назад

      I haven’t used Tangem but hopefully you have your 12/18/24 words and you can just upload that seed phrase to a ledger or a trezor

    • @GoodieGomez
      @GoodieGomez Год назад

      @Rhett Reisman - Level Up Your Brain So far, Tangem does not provide Seeds or Private Keys. They act like reloadable cards

    • @RhettReisman
      @RhettReisman  Год назад +1

      Sounds like a good reason not to use them in the first place - not knowing anything else about the product.
      Sounds like if they lock you out of their app you don’t have a lot of recourse.

  • @nicoyaresearch
    @nicoyaresearch 11 месяцев назад

    Is Sharmir backup just as good as multi-sig or similar in terms of security?

    • @RhettReisman
      @RhettReisman  11 месяцев назад

      Theyre similar but they make different tradeoffs. Multisig is more complicated but also more robust.
      If you’re wondering which one to go with I would just do a multisig given how easy certain software has become.

    • @nicoyaresearch
      @nicoyaresearch 11 месяцев назад

      Which? You mean with Casa or Unchained?@@RhettReisman

  • @yourdailyblockchain
    @yourdailyblockchain Год назад

    Thanks for the vid - is it worth having multiple Trezors?

    • @RhettReisman
      @RhettReisman  Год назад +1

      If you’re going to create a multisig I think it’s worth getting multiple hardware wallets. I would probably split up the brands, but if there’s one you prefer you can do all of that one

  • @jeudipf9329
    @jeudipf9329 7 часов назад

    I need by clear the rpc who create keys for hardware wallet is no taking the keys too. ..? Answer please and send me video or comment Rett reissman.

  • @sothatslindsey5212
    @sothatslindsey5212 Год назад

    I’m still learning about this but when you put your crypto on the hardware Wallet like 1000 bitcoin That 1000 just stays on the Wallet ? And you can just keep adding more

    • @RhettReisman
      @RhettReisman  Год назад +1

      All crypto is on the blockchain, not on the hardware wallet - the hardware wallet just holds the keys to sign and prove that you own the crypto in the blockchain address created by the hardware wallet.
      If you have 1000 bitcoin in the addresses generated by the hardware wallet and you send in 10 more you’ll have 1010 bitcoin “in the hardware wallet” (again the coins are not really IN the wallet, but you can spend all those coins using the wallet)

    • @James-b1l
      @James-b1l Месяц назад

      Yes. They add up. But the coins aren't in your wallet. Only the keys to the coins are in your wallet.

  • @DARlUSD
    @DARlUSD 21 день назад +14

    i thought you'll tell me something NO ONE KNOWS about hardware wallets

    • @RhettReisman
      @RhettReisman  День назад +1

      Darius I am very worried about your ENT health. I told you 5 things that NO ONE KNOWS about hardware wallets. If you couldn't hear them you might need to clean your ear wax. This affiliate link will show you my favorite tool for cleaning ear wax, I hope you can use it to improve your hygiene and open up those sweet ear canals of yours to my glorious voice once again amzn.to/4gJ7Cle

  • @MajesticLawnGnome
    @MajesticLawnGnome Год назад

    Rhett could you make a video please about ledger bitcoin university was talking about how ledgers code is private and not public which is concerning could you cover open source vs non open source and any issues that could come of this?
    Thanks 🙏

    • @RhettReisman
      @RhettReisman  Год назад +1

      I have brief discussion about that in this video comparing ledger with coldcard: ruclips.net/video/o-M-oWhU344/видео.html
      I’ll work on more ledger videos soon :)

  • @lennybrewster4673
    @lennybrewster4673 9 дней назад +1

    I use a trezor model T and a cypherock. The Cypherock is a game changer. 4.8 out of 5 stars by coin bureau and also had an inheritance option.

    • @RhettReisman
      @RhettReisman  День назад

      Trezor good
      Cypherock bad
      ruclips.net/user/shortsEPWro-zX6bI

  • @nickbolognaesq
    @nickbolognaesq Год назад

    Have you seen or used a SafePal S1? Was thinking of switching to a Ellipal Titan or Mini. Any opinion on those three options? I like the idea of a bigger screen. I like the offline QR code scanning, which all three have. SafePal was great for $50. The mini is cheaper but the Titan has that nice big screen.

    • @RhettReisman
      @RhettReisman  Год назад +1

      Haven't used safepal. Here are the hardware wallet's I've used and recommend: ruclips.net/video/XeKSXGuuHb4/видео.html
      One of them (Keystone) has QR codes + big screen

  • @efbcinema
    @efbcinema 4 месяца назад

    when you say reading the balance on your hardware wallet from a companion app does that not compromise the hardware wallet? or are you just inputting the address online and not exposing it fully?

    • @RhettReisman
      @RhettReisman  4 месяца назад

      Only the public keys are exposed the private key never leaves the device

  • @chicken3365
    @chicken3365 8 месяцев назад

    how do you recommend storing seed phrases?

    • @RhettReisman
      @RhettReisman  8 месяцев назад +1

      Use metal plates and store them in a safe deposit box / safe at home / safe at work etc

  • @sacha9646
    @sacha9646 Год назад

    Hey Rhett do you know how to teansfer crypto from Trust wallet to a hardware wallet, say trezor model 1? Thanks it would really help. And great video btw

    • @RhettReisman
      @RhettReisman  Год назад

      Here’s how to send funds to trezor model one ruclips.net/video/vBs9v1_zIwM/видео.html
      Process should be very similar using trust wallet

  • @1968Lawman
    @1968Lawman Год назад +1

    Nice work! Thanks!

  • @johnroff2704
    @johnroff2704 Год назад

    Rhett, Trezor provides a demonstration (via a youtube video) on how to set up multisig through Electrum. My question to you is, can I trust Electrum with my Trezor pin#? Thank you!

    • @RhettReisman
      @RhettReisman  Год назад +1

      As long as you’re using legitimate Trezor firmware and a legit version of electrum, electrum should not be accessing your Trezor pin (pin should only be entered on device and electrum should only be requesting public key information from the trezor)

    • @johnroff2704
      @johnroff2704 Год назад

      @@RhettReisman Thank you!

  • @joeysmith4515
    @joeysmith4515 8 дней назад

    Can I setup my ledger nano using multi sig?

  • @AdanFarrah
    @AdanFarrah Год назад

    Which cold wallet is better ledger or SafePal ?

    • @RhettReisman
      @RhettReisman  Год назад

      Trezor

    • @AdanFarrah
      @AdanFarrah Год назад

      @@RhettReisman why so

    • @RhettReisman
      @RhettReisman  Год назад +1

      Because I don’t trust Binance or Ledger

    • @AdanFarrah
      @AdanFarrah Год назад

      @@RhettReisman I just read an article about Trevor having the same backdoor issue like safePal and Ledger. Is there any cold wallet that doesn’t have that issue

    • @RhettReisman
      @RhettReisman  Год назад +1

      Coldcard. Ledger vs coldcard video here: ruclips.net/video/o-M-oWhU344/видео.html

  • @Lulu-kt6gr
    @Lulu-kt6gr 9 месяцев назад

    Hi - It cost me $15 to send $10 worth of bitcoin from the wallet to Trezor. This is at 3:30 in the afternoon. This is ridiculous. How can I possibly do this? I will be losing so much money. Is it that much different at midnight or something? I don’t understand.

    • @RhettReisman
      @RhettReisman  9 месяцев назад

      Watch this to understand what’s happening ruclips.net/video/MjNLvhmu4uI/видео.htmlsi=0ZgfxaGhfJxVarWW
      TLDR; you probably shouldn’t be sending $10 bitcoin transactions on chain

    • @Lulu-kt6gr
      @Lulu-kt6gr 9 месяцев назад

      @@RhettReisman it was a test- and it worked but too costly

  • @AliSercanGüçlüler
    @AliSercanGüçlüler 6 месяцев назад +2

    i had once wrote my seedphrase on iphone notes (2 years ago) but few days later i had deleted it. do you think i must change my hardware wallet?

    • @RhettReisman
      @RhettReisman  6 месяцев назад +1

      I think it’s worth changing just for peace of mind

    • @MaterialBitcoinEnglish
      @MaterialBitcoinEnglish 4 месяца назад +1

      It's generally a good idea to be cautious when it comes to your seed phrase. Even though you deleted it from your iPhone notes a few days after writing it, there's a potential risk that it could have been backed up to the cloud or accessed by someone else in that short time.
      If you have any concerns about the security of your seed phrase, it's safer to change your hardware wallet and generate a new seed phrase. This ensures that your funds remain secure and gives you peace of mind.

    • @AliSercanGüçlüler
      @AliSercanGüçlüler 4 месяца назад

      @@MaterialBitcoinEnglish we cant generate another seed phrase on same device, yes?

  • @BeautiHacks
    @BeautiHacks Год назад

    How do you trade crypto in a self custody wallet? If it’s still technically on the exchange?

    • @RhettReisman
      @RhettReisman  Год назад +1

      There’s an exchange or a broker in the backend connected to software (like ledger live). The crypto you’re “trading” sits on your ledger/trezor/etc.

    • @BeautiHacks
      @BeautiHacks Год назад

      @@RhettReisman so it would no longer be on the exchange FTX for example? It’s stored on the ledger device? So if an exchange goes bust like FTX the crypto is still recoverable right?

    • @BeautiHacks
      @BeautiHacks Год назад

      I’m still trying to understand how it all works.

    • @RhettReisman
      @RhettReisman  Год назад

      Exactly, you don’t have to worry about the exchange anymore

    • @BeautiHacks
      @BeautiHacks Год назад

      @@RhettReisman ohh ok. Thank you I was so confused. Are you able to sell the crypto on a Ledger or does it need to be on an exchange to do the transaction?

  • @user-js2jk3yv2s
    @user-js2jk3yv2s 26 дней назад

    Great video really appreciate it! Question how do you store your bitcoin for example in multiple cold wallets? In the video you explain to uses multiple cold wallets for security, but how does that work? New to the scene and appreciate your advice!

    • @RhettReisman
      @RhettReisman  25 дней назад +2

      It’s called multisig. Basically, instead of 1 wallet = 1 seed phrase you can have 3 wallets = 1 seed phrase and you need 2 of the 3 to spend.
      Here’s a tutorial: ruclips.net/video/T93Vm6fB3vs/видео.htmlsi=9J-sM-PM1WRraQrD

    • @user-js2jk3yv2s
      @user-js2jk3yv2s 25 дней назад

      Thank you very much! I appreciate you taking the time to respond! I’ll be sure to watch the tutorial you sent.

  • @Chantcg
    @Chantcg Год назад

    What do you think about the safepal wallet?

  • @1968Lawman
    @1968Lawman Год назад

    Can you do a video that discusses the best way to receive BTC from the MtGox bankruptcy distribution?

    • @RhettReisman
      @RhettReisman  Год назад

      I’m not sure of the logistics of that situation / how they’re paying people out.
      From a wallet perspective I’d say definitely use a hardware wallet if it’s a large amount of money if that’s the question.

  • @goodysri
    @goodysri 5 месяцев назад

    Does the new wallet has its own seed? You just use old seed to import into new hardware ?

    • @RhettReisman
      @RhettReisman  4 месяца назад

      Do hardware wallets come with seed phrases?

    • @RhettReisman
      @RhettReisman  4 месяца назад +1

      Hardware wallets can generate lots of seed phrases they don't come with a seed phrase though. The bitcoin is on the blockchain, not on the hardware wallet.
      ruclips.net/user/shortsAOl6zvBW-Wg?si=KtH76CfD1TBYaZkU

  • @derekpatton6527
    @derekpatton6527 14 дней назад

    Any tips on how to get my account unrestricted on an exchange? They have not gotten back to me at all and it’s been a week.

    • @RhettReisman
      @RhettReisman  День назад

      Exchanges don't have the best customer support. Unfortunately I think reaching out to them on a regular basis is all you can do.

  • @DrinkTheCoolaid8484
    @DrinkTheCoolaid8484 Год назад +1

    Hey Rhett. Here's a question about software wallets. So let's say a person has 2 software wallets on their phone, for example, exodus and trust wallet (these wallets have access to the same multi-coin wallet). Is that 2x as risky than using only one software wallet on the phone? Thanks for the great video!

    • @RhettReisman
      @RhettReisman  Год назад +1

      Yeah exactly. The two wallets on the same phone is doing nothing for you if they’re pointing to the same private key / seed phrase.
      If someone steals the phone and has the password to the wallet then both could be compromised. Even worse if one wallet has a password and the other doesn’t.

  • @justkris6461
    @justkris6461 14 дней назад

    What do you think about ellipal titan 2.0 im looking into buyythat wallet

    • @RhettReisman
      @RhettReisman  13 дней назад

      I think just get a ledger or a coldcard

  • @KingdomeSidehustle
    @KingdomeSidehustle Год назад

    Air gapped wallets have transfer fees?

    • @RhettReisman
      @RhettReisman  Год назад

      Every time you send bitcoin there are fees paid to the miner regardless of what wallet you use

    • @KingdomeSidehustle
      @KingdomeSidehustle Год назад

      @@RhettReisman what about xrp?

    • @RhettReisman
      @RhettReisman  Год назад

      What about xrp

    • @KingdomeSidehustle
      @KingdomeSidehustle Год назад

      @@RhettReisman xrp is already minted .. there can't be mining fees for xrp

    • @RhettReisman
      @RhettReisman  Год назад

      Sounds like no fees then idk I don’t use XRP

  • @CaliforniaLloydUK
    @CaliforniaLloydUK Год назад

    Thankyou bro for clearing this up. Thankyou

  • @guillermogutierrez3315
    @guillermogutierrez3315 Год назад

    what is a malicious defy smart contract and how to avoid it

    • @RhettReisman
      @RhettReisman  Год назад

      A DeFi smart contract is a program that you execute using your private key. If you don't read the code of the smart contract (and the related smart contracts that it executes) you won't know if it is malicious or not (malicious in this case meaning that there is some line of code that steals money from you). Some smart contract programmers will have audits of their code and those are okay proxies for understanding if the smart contract actually works or is malicious etc

    • @guillermogutierrez3315
      @guillermogutierrez3315 Год назад

      I don't understand this man do you do private consultations?
      @@RhettReisman

  • @chuck9112
    @chuck9112 Год назад

    Could you do a video on Tangem wallet? The keys are internal

    • @RhettReisman
      @RhettReisman  Год назад

      I’ll look into it. It seems like a not your keys not your coins situation

    • @chuck9112
      @chuck9112 Год назад

      @@RhettReisman no the keys are internal. You can't lose them and no one can steal them. You don't have to remember them.

    • @RhettReisman
      @RhettReisman  Год назад

      If you lose the wallet the coins are unrecoverable then right?

    • @chuck9112
      @chuck9112 Год назад

      @@RhettReisman no but if you are interested you should just watch a couple videos. 😉

    • @RhettReisman
      @RhettReisman  Год назад

      Seems like even their website says if you lose 2 of the 3 cards you lose the bitcoin

  • @pgomesny
    @pgomesny Год назад

    Great video, thanks.

  • @kaifae
    @kaifae 6 месяцев назад

    I generated private keys on a new keystone 3 hardware wallet, then used those private keys to recover the wallet on a software wallet, and was able to send and receive BTC without having to use the keystone device to sign transactions. what did I do wrong?

    • @RhettReisman
      @RhettReisman  6 месяцев назад

      It sounds like you instantiated the wallet into a software wallet compromising the security of the seed phrase that was generated by the keystone.
      You now no longer need the keystone, only the software wallet that has the full seed phrase to sign transactions.
      You should regenerate a new seed phrase on the keystone and transfer the funds to that new wallet.

  • @johnwalsh4857
    @johnwalsh4857 Год назад

    main wallets I use are ledger Nano S and Safepal. ledger to store stable coins, and SAfepal to store coins that is not available to ledger. of the two, I find both to be very secure, with Safepal probably being the most secure since its air gapped, no connection to PCs or the internet.

    • @RhettReisman
      @RhettReisman  Год назад +1

      Haven’t heard of safepal I’ll have to check it out

    • @johnwalsh4857
      @johnwalsh4857 Год назад

      @@RhettReisman yah its the hardware wallet of binance.

  • @Renerator
    @Renerator Год назад

    EXCELLENT vid my man! I don’t know how many times I’ve seen people make comments on Telegram where people say “I have all my Elephant Money safely secured in my Ledger.” When I tell them it’s not in ur Ledger it’s on the blockchain, they poo poo me. Funny shit. Again, loved ur vid! I’ll keep it as proof!

    • @RhettReisman
      @RhettReisman  Год назад

      Exactly!! So many people still don’t get it smh 🤦🏻‍♂️
      Thanks man 🙏🙏🙏

  • @XxowendanxX
    @XxowendanxX 12 дней назад

    Is it a good idea to just not set up your wallet with a private key?

    • @RhettReisman
      @RhettReisman  12 дней назад +1

      I’m not understanding. You can’t have a wallet without a private key. You should let the hardware wallet generate the private key.

    • @XxowendanxX
      @XxowendanxX 11 дней назад

      @RhettReisman Wow, well I'm new. I thought I heard of HODLers with no intention of selling any time soon set up a wallet with a public key only. Guess that I heard wrong.

  • @stevenreading
    @stevenreading 15 дней назад

    Great content. Thank you.

  • @checkmate_007
    @checkmate_007 Год назад

    Make a video on arculus please

  • @JB39402
    @JB39402 Год назад +1

    I have never seen anyone talk about this, but your video made me think of it. Could someone just add their same seed phrases to three different ledgers? Then keep one at home, one with a relative, and the other in a safety deposit box? Then if anything happens to any one of them, you could use one of the others to transfer the funds to another wallet and start over with a new seed phrase. Seems like that would be more secure, increase availability, and lessen the stress of protecting seed phrases from disaster or theft. 🤔

    • @RhettReisman
      @RhettReisman  Год назад

      Yeah you can do that. I talk about it a little at the end of this video: ruclips.net/video/Kmgoyohl0SA/видео.html
      I think it’s more convenient but you’re sacrificing some security. Now instead of worrying about a single wallet you need to worry about any of the three being compromised. It increases the surface area of an attack (like adding a bunch of doors to your house)

    • @JB39402
      @JB39402 Год назад

      @Rhett Reisman - Level Up Your Brain Ah! How did I miss that video? I do not understand the argument that it increases the attack surface. Unless we are saying these devices are not secure (hackable or easy to guess pin)? If someone is robbing your house and they find the words and know what they are doing, move your coins quick! However, if you have multiple devices with the same seed someone would have only 3 chances per device to guess your pin before it wipes. I am so paranoid about my seed phrase that I wrote it down with invisible ink. 😃
      Another added benefit is that I can store the pin in a password manager solution since someone would also need the device to use the pin. This allows me to easily pass the coins to someone should I die. The one I use allows me to designate someone that can request access to my data if I don’t deny it within x number of days, they get access. So I can keep full control of my coins yet allow access quite easily to another if I become incapacitated.

  • @slapstick_2306
    @slapstick_2306 Год назад +17

    I have 3 different hardware wallets. No copies but all different seed phrases, stored in multiple locations. Funds is devided equally.
    This might seem like an overkill, but it helps me sleep at night 👊🏼

    • @RhettReisman
      @RhettReisman  Год назад +3

      It's definitely one approach. I used to do it like this also before I learned about multisig.

    • @slapstick_2306
      @slapstick_2306 Год назад +3

      @@RhettReisman
      I have not looked into multisig, but i will. With all the things going on with ledger, atom wallet hack, i feel like i want to take security to the next level, and for now having more than one seedphrase feels the safest for me atleast so when one gets compromised not all og my funds will be lost.
      Also i keep my funds equally dived with every wallet holding about 70 procent bitcoin in each so i will always cover my losses in the rare case all my alts go to zero

    • @Btree33
      @Btree33 5 месяцев назад +1

      Their are better ways than this

    • @MaterialBitcoinEnglish
      @MaterialBitcoinEnglish 4 месяца назад

      Great comment. That's all it matters at the end of the day.

    • @nazdabner2685
      @nazdabner2685 3 дня назад

      Send me a copy of your seed I am good person you can trust me 😊

  • @Lulu-kt6gr
    @Lulu-kt6gr 9 месяцев назад

    Is there a worry when setting these up, that WI-FI could be compromised and someone could copy the seed phrase you’re given?

    • @RhettReisman
      @RhettReisman  9 месяцев назад

      No, the devices don’t have the capability to connect to the internet

    • @Lulu-kt6gr
      @Lulu-kt6gr 9 месяцев назад

      @@RhettReisman thank you! I just know that with the Tangem there’s a worry about phone security. I bought that one but now I just ordered the Trezor Model One because I don’t trust my cellphone security. I had a SIM card stolen once. They didn’t get into any of my accounts but still scary.

    • @RhettReisman
      @RhettReisman  9 месяцев назад

      Yeah sim swaps are a huge issue hopefully cell providers crack down more on this in the future

  • @katenow950
    @katenow950 12 дней назад

    *****Please answer this! I was logging into Ledger Live on my MacBook Pro 16. Ledger Live was not accepting my password, which I know is right! Online sources say that I have malware. I reset my whole computer. Did I have to? If I'm only entering my seed phrase into the cold wallet, is it reaching the Mac where I'm at risk? my thoughts were no and I, but it wasn't worth the risk for reset my Mac thanks.

    • @_.Alucard._
      @_.Alucard._ 10 дней назад

      Don't share your SEED with anyone and don't take digital copies of it. Erase and factory reset your iMac then install Ledger Live again and at this point it should be working again.

    • @RhettReisman
      @RhettReisman  День назад

      I would either factory reset your mac or download MalwareBytes and try to wipe the malware off your computer. After you've removed the malware do a fresh install of Ledger Live from ledger.com and like the commenter below is saying never share your seed phrase with anyone.

  • @HelmutBemboka
    @HelmutBemboka 13 дней назад

    Wouldn't the act of interrogating your wallet balance compromise your key?

    • @RhettReisman
      @RhettReisman  День назад +1

      Not sure what you're asking. What does interrogating your wallet balance mean?

    • @HelmutBemboka
      @HelmutBemboka День назад

      @RhettReisman using the PC to access the funds (essentially the key) on your wallet

  • @Rafael_Perez21
    @Rafael_Perez21 6 дней назад

    excelent video

  • @vegasvato55
    @vegasvato55 Год назад +30

    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???

    • @RhettReisman
      @RhettReisman  Год назад +10

      I don’t think they’ve “admitted there has always been a back door” - back door means something very specific in security tech and I doubt anyone from Ledger would describe it that way.
      To your point, I imagine there will be lawsuits even if they end up being mostly for show.

    • @TYKT898
      @TYKT898 Год назад

      Those back doors are being created by your ‘’government’’ the entire crypto system is being tracked and traced. Any crypto that is being seized for crimes such as human trafficking, money laundering, drugs and other nefarious reasons are being investigated and appropriate action is being taken. Billions of dollars of crypto has been seized and those are apparently going into humanitarian projects.

    • @Steven-f3d4n
      @Steven-f3d4n Месяц назад

      ​@@RhettReisman
      Hi.
      I bought a LnX 4 years ago and never set it up or used it.
      Is it still okay to use?
      --Steven

    • @ThomasJamesMcNamara
      @ThomasJamesMcNamara 17 дней назад +17

      There is no backdoor on Ledger. It is still safe to use.

    • @foxbox2879
      @foxbox2879 11 дней назад +10

      Bruh did you use crypto Twitter as the source here ?

  • @heatherhudec4891
    @heatherhudec4891 Год назад

    Still over whelmed of what to get. A lot of information. Not sure what the best route for me is.

    • @RhettReisman
      @RhettReisman  Год назад

      I think ledger is good place to start for most people. If you have an iPhone get a nano X if you use android get a nano S+ Rhett.blog/ledger

  • @slant675
    @slant675 Месяц назад

    You know that thing where you say a word so many times that it starts to lose meaning? Yeah, that just happened with the word "wallet" after watching this video.
    That said, great content! Thank you.

    • @RhettReisman
      @RhettReisman  День назад +1

      Wallet

    • @slant675
      @slant675 День назад

      @ what does that even mean anymore?? 😂

  • @churchofclaus
    @churchofclaus 9 дней назад

    2:54 wallet*

    • @RhettReisman
      @RhettReisman  День назад

      I actually meant to say @churchofclaus is a nerd

  • @Afiore108
    @Afiore108 Год назад

    Teacher Rhett 🙏

  • @ubiquitousreverser
    @ubiquitousreverser 3 дня назад

    Don’t they degrade over the years and fail, or how long do they last?

    • @RhettReisman
      @RhettReisman  День назад

      Even if the hardware fails (maybe after decades) the seed phrase can be easily transferred to another hardware wallet.

  • @markpoultonsrules
    @markpoultonsrules 9 дней назад +1

    Bad analogy about the deed to your house. At least in the US a copy of your deed is available online.

    • @RhettReisman
      @RhettReisman  День назад

      Are the bad analogies in the room with us right now?

  • @Fun-di5vm
    @Fun-di5vm Год назад +3

    4:55 "Not your keys not your coins" lmfao as he holds a ledger nano get outta here 🤡

    • @RhettReisman
      @RhettReisman  Год назад +2

      Yeah I’m so dumb. Everyone should roll their own seed phrase and do their own elliptic curve cryptography.

  • @wingsofabe
    @wingsofabe 14 дней назад +1

    isn't it more convenient to just have a paper wallet, i mean store your keyword offline? I don't see how Hardware Wallets would be stronger than that, since you can't access any wallet without the keyword anyways. this has made me hesitate to buy Hardware Wallets because i don't want to waste money on something i don't need

    • @RhettReisman
      @RhettReisman  День назад +1

      A paper wallet does store your private keys offline, which is great for security, but it has major drawbacks compared to a hardware wallet. With a paper wallet, every time you want to send Bitcoin, you’ll need to expose your private keys by entering them into a device, which increases the risk of theft from malware or phishing attacks. A hardware wallet, on the other hand, keeps your private keys secure and never exposes them, even when signing transactions. It’s like the difference between hiding cash under your mattress (paper wallet) and using a secure vault (hardware wallet). The cost of a hardware wallet is worth it for the peace of mind and added security it provides.

  • @Blue-Hawk-Legend
    @Blue-Hawk-Legend 5 месяцев назад

    Are our tokens stored on the blochchain of the token we bought?
    Other question is since the hardware wallet companies like dcent or ledger give us seed phrases instead of the private keys doesnt that mean that the issuer can clawback the tokens at will? Hardare wallets seem like the best but is there a hardware wallet that gives me the private key and not seed phrases?

    • @RhettReisman
      @RhettReisman  5 месяцев назад

      Yes - they're on the blockchain.
      No, Ledger can't claw your tokens back because Ledger doesn't know what your seed phrase is. If you're worried about this you can roll 100 dice to generate your seed phrase and upload it into your Ledger. Or use a Ledger / Trezor / Coldcard in a multisig setup so that you never have to rely on a single device (example: ruclips.net/video/Ito1YJYhc3g/видео.html&pp=ygUUcmhldHQgY2FzYSB1bmNoYWluZWQ%3D)

  • @chicken3365
    @chicken3365 8 месяцев назад

    good video

    • @RhettReisman
      @RhettReisman  8 месяцев назад

      Always happy to help my chickens

  • @zeerypto
    @zeerypto Год назад

    Rhett Reisman - Level Up Your Brain.............. make a video of SAFEPAL Wallet..... is it safe

    • @RhettReisman
      @RhettReisman  Год назад

      I’m not a big fan of Binance generally but I don’t know much about SAFEPAL

  • @FirstNameLastName-oy2ji
    @FirstNameLastName-oy2ji 11 дней назад +2

    Your coins are not on the wallet....quit saying your funds are on the wallet....geezzzusss...

    • @bang_acil_
      @bang_acil_ 7 дней назад +2

      This

    • @RhettReisman
      @RhettReisman  День назад +1

      I agree, king. I say this in the video and I hope everyone who hears it will finally understand. If they don't they might need to use this affiliate link to clean out their earwax: amzn.to/4gJ7Cle
      Roll tide

  • @StuffBudDuz
    @StuffBudDuz Год назад

    "Hardware wallet" is such an unfortunate misnomer. A better term would be "hardware keychain." It would cause much less confusion.

    • @RhettReisman
      @RhettReisman  Год назад

      Yeah 100% or even “signing device”

  • @n00g75
    @n00g75 Год назад

    the video is OK! yes there can ALWAYS be security problems but this counts for EVERY wallet or basicly ANYTHING humans invent. and a hardware wallet are the savest way to store coins.period!

    • @RhettReisman
      @RhettReisman  Год назад

      Yep :)
      Not all hardware wallets were created equal 🧠

  • @RedBullGreenBear
    @RedBullGreenBear 9 дней назад

    HEX is awesome

    • @RhettReisman
      @RhettReisman  День назад

      Not it's not. Leave my innocent comment section alone

  • @sudstahgaming
    @sudstahgaming 17 дней назад

    This is why i don't have faith in crypto its too exposed and too risky to store especially when its not insured, its here now but will it be here in 20 years, i dont know.

    • @RhettReisman
      @RhettReisman  День назад

      Yes it will be here in 20 years. Bitcoin has traded for more hours than Apple

  • @PatchCornAdams723
    @PatchCornAdams723 Год назад

    What's the most schizo way of recording your private keys? I'm at the 'engraved steel washers on a bolt' level myself.

  • @FTW_Wolf
    @FTW_Wolf Год назад

    harwar wallet!

  • @ArtismAnimation
    @ArtismAnimation 7 дней назад

    How hacking works on a hard ware wallet

  • @BAR-ct7ti
    @BAR-ct7ti 7 дней назад

    Sounds really confusing

    • @RhettReisman
      @RhettReisman  6 дней назад

      It’s super straight forward. ChatGPT can answer all your questions that’s how simple it is.

  • @justinmckibben4534
    @justinmckibben4534 День назад

    I don't trust hardware wallets. I've had many thumbdrives not load after sitting a year or more

    • @RhettReisman
      @RhettReisman  16 часов назад

      That's why you need to back up the seed phrase into metal and store it somewhere safe (then you can restore to a new hardware wallet some time in the future if yours breaks).
      The whole point of getting the hardware wallet is so that it can generate your seed phrase in the most secure way possible. The seed phrase you generate from a wallet on your iPhone/Android is vulnerable to more kinds of attacks.

  • @dabig_guy2204
    @dabig_guy2204 15 дней назад

    Crypto wallets info

    • @RhettReisman
      @RhettReisman  14 дней назад

      Big brain crypto wallets info 🧠

  • @potheadchimp
    @potheadchimp 8 дней назад

    Paper wallet

    • @RhettReisman
      @RhettReisman  День назад

      NOOOOOOOOOOOOOOOOOOO

    • @potheadchimp
      @potheadchimp День назад

      @ been on paper since 2018. No issues whatsoever

  • @hansmuster4317
    @hansmuster4317 8 месяцев назад

    What if you level up your bed by making it?

    • @RhettReisman
      @RhettReisman  8 месяцев назад

      Jordan Peterson over here smh

  • @PA-sb5ou
    @PA-sb5ou Год назад

    👍

  • @hunterhankie1575
    @hunterhankie1575 6 дней назад

    make your bed.

  • @ourhealth5881
    @ourhealth5881 9 месяцев назад

    My cold wallet got hacked and it’s cold wallet !!!! And it’s locked !!!!!! Not safe

    • @RhettReisman
      @RhettReisman  9 месяцев назад +2

      How did it get hacked? Which cold wallet?

  • @lirands2730
    @lirands2730 11 дней назад

    Did not help at all.

    • @yungdkay1008
      @yungdkay1008 10 дней назад +1

      What exactly are you looking for??

    • @RhettReisman
      @RhettReisman  День назад

      I am worried about you @lirands2730 please clean out your earwax using my affiliate link so that you can take in my soothing voice and knowledge about cryptocurrency. Here is my favorite earwax removal tool: amzn.to/4gJ7Cle

  • @nazdabner2685
    @nazdabner2685 3 дня назад

    One of worst advice you gave to your viewers is to trust CASA with there seed phrase 🤦🏽
    If CASA get Subpoena by the government game over..
    Come on man! Bad advice bro.
    -------
    Reply to your comment:
    Instead of paying for casa. It’s cheaper to use your own multisig. Use 3 different hardware wallet: Trezor, coldcard, Trezor.
    You haven’t answered my question can the goverment access someone’s crypto if they say something or disagree with government can they subpoena Casa to hand over customers keys? What if Casa goes bust? What happens to peoples BTC.
    Whole purpose of BTC/crypto is self custody being independent and freedom.
    Dude don’t sell yourself for few dollars.
    Be a better human and stop promoting these affiliated links and misleading your viewers.

    • @RhettReisman
      @RhettReisman  День назад

      One of the worst advice you gave in this comment is that people give their seed phrase to Casa. That's not how Casa works.
      Get good.

    • @nazdabner2685
      @nazdabner2685 День назад

      @@RhettReisman I know how multisig works why would someone use third party company to secure their BTC or crypto tokens. The whole purpose of BTC is to be your own bank and self custody . What if the Casa goes bust? Can goverment and institutions get access to people BTC if there views are different?.
      Instead educate your viewers how to set up multisig it’s easy. You can use 3 different hardware wallet. Trezor, cold wallet, ledger
      You just want to sell your affiliate link and get some few dollars.
      Be a better human don’t sell your soul for few Satoshi man! You can do better

    • @nazdabner2685
      @nazdabner2685 День назад

      @@RhettReisman lol! You deleted my reply. You just proved my point it’s all about your affiliated link commission.

  • @Susan0000007
    @Susan0000007 Год назад +1

    I just cannot give this guy my trust. He has an unmade bed and teenager posters on the wall. If he cannot care enough how he presents himself to his listeners or does not know how to appear more business like, then he may be presenting an accurate little lesson on how hardware wallets work, but missing some very important variables because he does not have enough awareness of the big picture.

    • @RhettReisman
      @RhettReisman  Год назад

      😂🤣
      Which poster is the most teenager?

  • @neildutoit5177
    @neildutoit5177 Год назад +2

    This didn't age well.

    • @RhettReisman
      @RhettReisman  Год назад

      What about it didn’t age well

    • @theekman
      @theekman Год назад +2

      New ledger closed source firmware update allows your private keys to be sent to 3 trusted 3rd party sources for recovery if needed. Ledger says its an “opt in only” service, however they have said for years it wasnt possible for private keys to leave the secure element chip. So if its possible now or after an update since its closed source it may have been possible the entire time and may not require an opt in.
      Basically its not even a cold wallet

    • @RhettReisman
      @RhettReisman  Год назад +1

      This video isn’t about ledger + I think a lot of the ledger stuff has been blown way out of proportion.
      That being said I would feel uncomfortable using it as single-sig and haven’t for years now (way before this announcement). Doesn’t change that it’s the most accessible hardware wallet (arguably the subscription service makes it even more accessible)

  • @bradebronson8835
    @bradebronson8835 Год назад

    This aged well...

  • @juki638x
    @juki638x 10 дней назад

    What’s with the corny thumbnails in crypto videos ? They just look unreliable and cartoonish

    • @RhettReisman
      @RhettReisman  День назад

      That's not true. I look reliable and handsome

  • @baronsilverbaron757
    @baronsilverbaron757 Год назад

    Anyone that gets paid for recommending something is best ignored.

    • @RhettReisman
      @RhettReisman  Год назад

      Less than 1% of the money I made last year came from hardware wallet and exchange referrals.
      0% of the money I made last year came from paper wallet referrals - maybe you should buy a paper wallet, I’ve heard they’re very safe, no one ever forgets them, and they don’t pay any RUclipsrs.

    • @baronsilverbaron757
      @baronsilverbaron757 Год назад

      @@RhettReisman I've got a Bitfi.

    • @RhettReisman
      @RhettReisman  Год назад

      Idk what that is.
      Edit: I looked it up, no private keys = 🚩🚩🚩🚩

  • @williamadams9091
    @williamadams9091 9 месяцев назад

    This was very useful ...bless u ❤