Cold Wallet Guide - 13 Tips to Not F*ck Up!

[@cyberscrilla]

⚠️ These are the BEST cold wallets on the market in September 2024: kzbin.info/www/bejne/enerhGShfK12e80

[@mitchdenner9743]

So is the phrase plate just redundancy to keep safe somewhere? If all a cold storage wallet does is hold your seed phrase, than is it needed at all? Or is it needed to transfer from the exchange to itself. Sorry for the stupid questions, trying to learn.

[@cyberscrilla]

Correct. A hardware wallet is used to both hold your keys and manage your crypto. However, if you lose your wallet or its damaged (and you don’t have your seed phrase) then you’d lose access to your crypto. So storing your phrase in another location in something like a metal plate will help avoid this situation. - Alex

[@tommydronesmaaddaaah9911]

I Don't Appreciate Your Vulgar Thumbnail & Video Title . Grow Up.

[@husky500cr]

Purchase two hardware wallets and move a low-cost coin to one of them (for testing). Use the seed to restore the second wallet to ensure it is correct, creating a backup in the process.

[@cyberscrilla]

Good idea!

[@tootall2630]

Creating a back up key you then have 3 privet keys 🔑

[@koldplayz1]

@@tootall2630 Wouldn’t that be 2 keys, one associated with each Hardware Wallet. The keys would be identical, just like a spare house key…

[@KrazyPon]

Oh…..one more. Rey important tip…..only use secure internet….trusted….no open free public etc…. wifi’s

[@cyberscrilla]

Good point!

[@bepreparedforwhatscoming4975]

@@cyberscrillahow about using data on your phone when you’re in public?

[@briquan]

@@bepreparedforwhatscoming4975I’m pretty sure it’s fine, as long as it’s not a public net work then good 👍

[@johnvalatos4073]

Smart contract wallets are an alternative. No seed phrase. Email and password required to access on a device. Ambire wallet goes a step further, you can add multiple signers, like 2FA. Any transaction requires 2FA code. To disable 2FA need the 2FA code. A second signer can be a hardware wallet like a Ledge. Any transaction then requires the 2FA code and interaction with the Ledger. Email authorisation required when logging in on a new device. It’s tough to hack.

[@cyberscrilla]

For the average crypto enthusiast I don’t believe a smart contract wallet is a good solution. At least, not right now. Simplicity is key. Smart contract wallets also have their own vulnerabilities. Overall, I’d say cold wallets are still more secure and easier to use.

[@timjustin015]

nice merch its so cool👾

[@cyberscrilla]

Thanks!

[@rkeyology81]

In addition to sending a small teat transaction, be mindful that clipboard hijacking malware exist and can change the recipient address without your knowledge if your device is compromised. Always verify on the device that the address you’re sending to matches the address you want to receive the crypto.

[@Switch_625]

I appreciate your detailed videos. Thanks 1,000,000

[@cyberscrilla]

Thank you for watching!

[@EvertvanIngen]

The thumbnail is hilarious

[@cyberscrilla]

@@EvertvanIngen thanks 😆

[@21SpielSatsSieg21]

Ledger Nano X unser here. No issues

[@SlackersIndustry]

many explain cold wallet as if the bitcoin goes into them when its only the seed phrase

[@cyberscrilla]

@@SlackersIndustry Crypto remains on the blockchain. Crypto wallets store the private key, seed phrase, and public addresses that allow you to manage your funds in a secure environment

[@jc10907Sealy]

Super info I learned thanks

[@cyberscrilla]

Glad it was helpful!

[@vijay_kolkata]

Nice information thanks ❤

[@cyberscrilla]

Thank you for watching!

[@josuettekemajou239]

Please How to know that your wallet is cold wallet? Cause I think i’ve been scammed with fake USDT and the people responsible for that keep on saying that it’s a cold wallet due to unpaid taxes. Please I need help

[@cyberscrilla]

That doesn’t make any sense so I’m not sure what you mean. But whatever it is-it’s definitely a scam and has nothing to do with “hot” or “cold” wallets. A cold wallet is a device that stores your private key offline (Ledger, Tangem, Trezor, Onekey, Keystone) are all examples of cold wallets. A hot wallet is a software that stores your private key on an internet connected device (Metamask, Trust Wallet, Rabby, Phantom, Solflare, etc).

[@Iwnd0]

How about buying from a 3rd party that recognise under official store and reseller for keystone? Since from official web they dont ship to my country

[@cyberscrilla]

That’d be my absolute last resort. I’d try to find a wallet that ships to my country directly from the manufacturer before buying one from a reseller. That’s just me though.

[@randydrake8108]

Must you accept a randomly generated seed phrase or can you create your own ???

[@cyberscrilla]

You can use a tool to generate one, but I would never choose the words myself because seed phrases are derived from a pre-determined list of 2048 words. Humans tend to follow patterns or use familiar words that make them susceptible to being guessed. That's why using a random number generator or specialized tools for generating seed phrases is recommended.

[@Salaeones]

Hey sir, you mentioned to test seedphrase, i have a cold wallet but i dont remember if it asked me to check all the words, how i can test the words without loosing funds?

[@F16_viper_pilot]

Still here enjoying your well thought videos. Keep up the great work!👍🏻

[@cyberscrilla]

Happy to see you still hanging around!

[@DCFNETWORKS]

Great tips thank you ✝️

[@cyberscrilla]

Glad it was helpful! Thanks for watching

[@Maverick-jw5pm]

Can I just write down the whole code for my crypto and store that? Why 24 word seed phrase and a breakable device? Couldn’t I use steel for this for lifetime storage?

[@cyberscrilla]

Yes you want to do that too. But the how do you manage your crypto when it comes time? You don’t want to do it on a software wallet since it could be hacked. Thus, cold wallets aren’t only for SECURELY storing your seed, but also securely managing your crypto.

[@VamosViverFora]

Tip number minus 1 : don’t buy Ledger. Buy Trezor or Keystone for multi cryptos, or bitcoin only you can add Coldcard and Passport. Not ledger. It doesn’t worth the risk.

[@cyberscrilla]

I don’t agrees here’s my updated video: kzbin.info/www/bejne/nYKlYZWvbrN3npo

[@andrejcagalj4089]

Great content.

[@cyberscrilla]

Thank you for watching!

[@RichardsWorld]

Lets say you don't use crypto much. And you want to say, give your brother who lives in another country your crypto. Could you just tell him what your seed phrase is and he takes it from there?

[@cyberscrilla]

Yep, you could do that.

[@ChristIsRisen777]

New to crypto, obtained XRP (it's in Coinbase), bought a Nano X, and don't know what to do next! Help?!!😬

[@WWM860]

You should’ve gotten a Tangem.

[@AwaitingImpatiently]

Same for me, but not on Coinbase

[@themomista7175]

Excellent video again. Thank you, much appreciated! Hopefully you reach 10K’s subscribers soon!

[@cyberscrilla]

Thanks for watching! Coming up on 10k fast 👍

[@elle-lw1rl]

Thank U Alex, question ...if BTC is on Blockchain .. wouldn't that be the safest place for it to sit and use it directly from there? In 2013, we didn't have any options, so the only option that was available at that time was a Bitcoin wallet connected to the Blockchain. So question : with Bitcoin address and Blockchain address...is Bitcoin on the Blockchain?

[@cyberscrilla]

All cryptocurrencies are on the blockchain. A wallet is just used to access crypto and store your private key. Best to use a cold wallet to access it. If you use a hot wallet, you expose your private key to the internet and potential malware.

[@kutty7807]

Can I use two seedphrase on a single hardware wallet ? One seedphrase where I'm only holding assets and the other one for other trading stuffs .. and can I use this both alternatively in the same hardware wallet ?

[@cyberscrilla]

Yes, you can technically use as many seed phrases as you want in most hardware wallets. You just have to use them one at a time. So you’ll have to reset the wallet and import the other seed phrase to use it. Alternatively, you can create a passphrase (hidden wallet) for your seed phrase. This creates a new wallet with new receiving addresses. This is likely your best and most secure option. Both the Trezor Safe 3 and Onekey Classic 1S support using a passphrase, I’d recommend check these wallets out. I’ll drop some review videos here for you: Trezor Safe 3: kzbin.info/www/bejne/aHqal4l9bpyojKcsi=OzjeHV3tnlQkPm1G Onekey Classic 1S: kzbin.info/www/bejne/jZaWk4CniLNjmZYsi=yq8seYLctGIEjo9t - Alex

[@soh-rv7se]

do you have any recommendations for wallets that store coins on the base ecosystem? currently using tangem but they dont offer that (yet..)

[@dhalps23]

Ledger has Base and also integrates w MetaMask and w Phantom wallets. I’m sure other hardware wallets support and/or work w Base too… Can look into hardware wallets that integrate w MetaMask bc there’s Base network on MetaMask. if there’s another wallet you use check that out… To check a wallet that uses base just go to ADD ACCOUNT > HARDWARE WALLET, and then see what comes up. P.S. Base is not even that great. It is owned by Coinbase too (doesn’t do much for decentralization, lol)… I’m not the biggest ETH fan either. BTC and SOL all day for me.

[@cyberscrilla]

Base is coming to Tangem very soon. They’re actively working to add it

[@Purana7]

@@cyberscrillais tangem better than trezor?

[@mitchbrown7063]

So I just bought a Trezor 3 off Amazon. I had no thought that it could be sketchy to do that. I tried to cancel the order but it wouldn't let me. Is there a way to ensure that it hasn't been compromised?

[@cyberscrilla]

The Trezor Safe 3 lets you authenticate the firmware so you can verify the device you’re using is safe during setup.

[@mitchbrown7063]

@@cyberscrilla awesome, thank you

[@annie291180]

Thank you ❣️

[@cyberscrilla]

Thanks for watching!

[@易-x2w]

hey love from taiwan thx 4 ur imfo iit helps!

[@cyberscrilla]

Thanks for watching! ❤️

[@stacyjohnson7395]

Thank you😊

[@cyberscrilla]

Thanks for watching!

[@xrpvegas5407]

Coinbase is an absolute nightmare avoid at all costs. It is not the safest exchange as they proclaim.

[@cyberscrilla]

Agreed. Scambase sucks

[@stevenleejobe]

I worked with a Ledger for a bit. I'm not expert--the opposite really--but it seems ridiculous to me that we can't do better. It looks like something made in the 1980s. A pager from the 90s has more sophistication.

[@cyberscrilla]

Crypto wallets don’t need to be high-tech-they’re not phones. The whole point is to keep them offline. Simplicity is key, in my opinion. I’m not saying Ledger is the best, but design-wise, most wallets are just okay. And that’s fine.

[@stevenleejobe]

@@cyberscrilla I'm not suggesting they should look like sleek digital devices. But there HAS to be a way to do it better than these clunky directional arrows and such. Come on, seriously?

[@cyberscrilla]

@stevenleejobe They created the Flex and Stax-both are touchscreens.

[@stevenleejobe]

@@cyberscrilla Great. I will look into that. TY

[@cyberscrilla]

@@stevenleejobe let me know if you have any questions. I’ve reviewed both wallets. I’ll drop my reviews below: Flex: Ledger Flex Review: Suspiciously Good! kzbin.info/www/bejne/rqLXlaudab14d9E Stax: Ledger Stax Review: Innovative or Overhyped? kzbin.info/www/bejne/n5fTf2Nuh8aFrac

[@b.janecowie1033]

Thanks good advice . I'll be following and learning

[@cyberscrilla]

Thanks!

[@Evan-xc5zu]

Honestly, who can move in the Crypto World not knowing all this...Big--Huge mistake.. Everyone should see this video. Peace :)

[@cyberscrilla]

Thank you for watching!!

[@DrhYouness]

Is it okey if i use a brand new laptop with only Ledger Live installed ? But no antivirus on it ? I use this pc only for Ledger Live no browsing no installing others apps nothing just ledger live and i turn off the laptop ! Or i should install antivirus also ? I prefere not... ! Any advice ?

[@cyberscrilla]

It’s fine. Even if your computer got malware, your Ledger wallet would not be directly affected. Just don’t enter/store your seed phrase anywhere online and you should be good.

[@DrhYouness]

@@cyberscrilla Thanks so much for your videos. You really help us 🙏♥️ best crypto chanel

[@cyberscrilla]

@DrhYouness Wow, thank you!

[@Alfian-m7h]

How if a user randomly guessing our seed phrase or generating the same seed phrase when creating new wallet, accidentally?

[@cyberscrilla]

How what? The odds of someone randomly guessing a seed phrase are incredibly low, virtually impossible.

[@Alfian-m7h]

@@cyberscrilla is there a chance if cold wallet generating same seed phrase to another user?

[@PsychiTrip]

isnt writing the phrase on a paper or etching it into steel plate a cold wallet?

[@cyberscrilla]

It’s cold storage yes. But you can’t manage your crypto using a piece of paper. A hardware wallet isn’t only for cold storage, but also for managing your crypto in a secure environment.

[@PsychiTrip]

@@cyberscrilla perfect explanation ty!

[@cyberscrilla]

You’re welcome! Good question

[@BecamePneuma]

I use Tangem and Blockstream Jade

[@cyberscrilla]

Both are AWESOME wallets. Nice!

[@AmbitiouslyLazy]

I believe in BTC and have only invested on Robinhood and through IBIT (ETF). All this information just stresses this old Gen-Xer out...I know if I ever want to buy a house or make a significant purchase using BTC, I would need to have a wallet and own the actual asset (not the derivative) to avoid the tax burden of cashing out my Robinhood or ETF. With all the pitfalls of holding BTC, I'm starting to think continuing to DCA into the ETF is my way ahead...the tax burden seems to be the price of safety (in my mind).

[@homosacer6252]

What is the difference between a cold wallet and an encrypted USB stick?

[@cyberscrilla]

Many differences. But in general an encrypted usb stick doesn’t provide the same level of security as a a cold wallet. Also, cold wallets are used to manage crypto to do things like send, trade, and approve transactions. A usb stick doesn’t do that.

[@homosacer6252]

@@cyberscrilla about trade you are right but about level of security USB stick made by miself is more secure bc do not involve another ppl. And is cheap. Nobody promote USB stick bc there is no company to sponsor right?😁

[@cyberscrilla]

@@homosacer6252 no. It’s simple. A usb stick is not as secure or usable as a wallet. There are plenty of ways to promote a usb stick (Amazon affiliate for example). Why promote that when there are better options?

[@loong111]

@3:24 wait ... what!? How can signing a txn lose your entire wallet? When you sign with the cold wallet, can't you verify the address and amount? The private key is not actually embedded in the txn, but encrypted in the digital signature.

[@cyberscrilla]

You’re signing an approval tx that would allow the scammer to move your funds.

[@ddddaaddaaaa]

since these cold wallets are electronics that get obsolete after some time, do you have a time frame on how long you are going to use your hardware wallet?

[@cyberscrilla]

By obsolete do you mean the tech changes or device failure? I’m not worried about the actual technology changing. And if it does, it will be an adapt or die scenario with these companies. As for longevity, I expect many of my wallets to last 10-20 years. The battery has been the first to go in my experience. Then I just use it plugged in and it still works (this is what I did with my Ledger Nano X). All my other wallets are still good.

[@tonywright8342]

You say use more than one wallet, but that means another seed phrase. When will seed phrase end.

[@cyberscrilla]

Yep. That, I don’t know. There are seedless wallet options, but I don’t recommend using a wallet in that way.

[@Nomadft24]

Use a tangem cold wallet

[@user-kx6dn4sm5l]

@@cyberscrillaI thought you recommended using a tangent with the back up cards and no seed?

[@cyberscrilla]

I’ve never recommended that. I recommend Tangem, but with a seed phrase.

[@user-kx6dn4sm5l]

@@cyberscrilla ah my mistake, thank you. Love the vids

[@Dalmenco]

Get the Solana phone as your hard wallet...

[@cyberscrilla]

I pre ordered the Solana Seeker. Review coming whenever they decide to ship it

[@victorhugo-lp5rd]

I have an Ngrave 😅

[@cyberscrilla]

It does the job. Just overpriced in my opinion 😅

[@vijay_kolkata]

How to Re-install tangem wallet

[@cyberscrilla]

What do you mean? As in, reset it to factory settings? - Tap the three dots in the right hand corner. - Tap Card Settings - Tap Reset to Factory Settings Make sure you know your seed phrase and access code for each card before resetting.

[@ggangpae4520]

I don't trust any cold wallet which needs to be plugged into the computer

[@cyberscrilla]

Then you don’t understand how a cold wallet works.

[@dsp4392]

Tip #1: Don't use a Ledger. It's barely more secure than a phone wallet.

[@cyberscrilla]

Agreed. Ledger is NOT my first, second, third, fourth, or even twelfth choice 😂

[@dearjcps1496]

@@cyberscrilla Why? Do you explain this divergence from popular opinion in the video?

[@it551]

​@@cyberscrillaHi, do you know of any cold wallets that support ICP? I believe Ledger are the only ones, but obviously not now a good choice.

[@cyberscrilla]

@@it551 Yes, Tangem will support ICP with their next app update (between now and June).

[@it551]

@@cyberscrilla thanks for replying, I'll be getting a Tangem Wallet now for sure. Your reviews are very informative.

[@MrDoncarnage]

Damn no trezor discount 😏

[@cyberscrilla]

Nope. They discontinued them…

[@kaptainwarp]

Ledger. Not even once.

[@cyberscrilla]

🤣

[@Sam-pn2kc]

its 90% user fault truth

[@sierracharlie5914]

Yeah, coinbase is full of shit. I just moved most of my bags

[@cyberscrilla]

GOOD!

[@BobHarvey.]

Too late for me. All of my Bitcoin I had stored on my Ledger Nano disappeared on March 1,2024. I don’t know how or why it happened.

[@cyberscrilla]

You likely interacted with a malicious smart contract at some point. That’s the only way your wallet could have been hacked unless someone knew your seed phrase

[@jfnovae]

So your buddy loses the password for 2 years on coinbase? Or are you going to elaborate on the story

[@cyberscrilla]

Nope, they locked him out of his account for a security breach. He provided everything they asked and still would not allow him to access the account. There are numerous stories of people being locked out of accounts. Also they hold users funds. Unacceptable and an absolute terrible way to store crypto.

[@Jindalgsm]

Tangem 👍🏻

[@jimpanse1638]

If you bought a ledger you allready fcked up 😅😅😅

[@21SpielSatsSieg21]

No

[@jimpanse1638]

@21SpielSatsSieg21 Well i did and i certainly fcked up, now my personal data is out there with my phone number and address.. for a self storage device that can theoretically store billions i would say that is royaly fcked up.