Cold Wallets Simply Explained For Beginners

What is a hardware wallet (cold wallet)? In this complete beginners guide, Alex explains what hardware wallets are, how they work, how to set them up, plus a ton more.
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4. OneKey Touch
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5. OneKey Classic
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VIDEOS I MENTIONED:
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• WTF Is an Air-Gapped H...
How Shamir Backup Makes Crypto Wallets SAFER! - • How Shamir Backup Make...
Keystone Pro Hardware Wallet Setup (Quick Tutorial) - • Keystone Pro Hardware ...
Tangem Wallet Review: This Thing Is Bulletproof! - • Tangem Wallet Review: ...
Top 6 Best Cold Wallets of 2023 - • Top 6 Best Cold Wallet...
25 Things You NEED TO KNOW About Hardware Wallets - • 25 Cold Wallet Questio...
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CHAPTERS:
00:00 - What you’ll learn
00:17 - What is a hardware wallet?
01:02 - Hardware wallets vs Software wallets vs Exchanges
02:12 - Hardware wallet security features
04:03 - When to get a hardware wallet
04:25 - Choosing the best hardware wallet
06:55 - Where to buy hardware wallets
07:22 - Best hardware wallets to buy
09:37 - How to setup a hardware wallet
12:49 - Using your cold wallet effectively
14:17 - Frequently asked questions
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Disclaimer: The information provided is for informational purposes only and should not be considered financial, legal, or tax advice. The content reflects the speaker's opinions and is not from a licensed financial advisor or registered investment advisor. Please note that this description contains affiliate links. If you make a purchase through one of these links, the channel may earn a commission (at no additional cost to you). Thank you for supporting us!
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Wishing you safe and successful crypto adventures.
- Alex Gomez 🫶
#crypto #hardwarewallet #bitcoin #cryptowallet #coldwallet #cryptoexchange #ledgerwallet #tangemwallet #cryptowalletsinfo #cryptocurrency #nfts #ethereum #cryptocoldwallet #blockchain #web3 #trezorwallet #trezor #bitcoinwallet #bitcoin #ethereum #ethereumwallet #nftwallet #bestcoldwallet #besthardwarewallet #hardwarewalletguide #hardwarewalletforbeginners

[@GlassICE]

Since my software based wallet got hacked i've Finally purchased a Ledger nano X as a hardware wallet However i was lucky duo to that i wasn't holding that much of funds on my compromised wallet, it was around 300 bucks n change It was the most available and durable one i could've find in my area i know i did the right thing by purchasing a hardware wallet, however, i just hope i've made the right choice Anyway i was wondering should i only use it on a Linux based operating system for maximum security or no it will be fine if i would use it on my phone and nothing terrible would happen ?

[@ashleymorris6636]

if you got a one key wallet or say a trezor wallet and you lose it can you only back it up by using the same brand wallet wallet you used to set up the wallet or can you use any wallet? and all the crypto within the wallet do they all gave their own individual wallet address and private and public key? I'm just a bit confused on a few aspects such as these. I want to understand it fully before I set mine up. I appreciate it if you can reply and even direct us to a link to research it a bit more I'm having a hard time finding the information that explains these little details.

[@meaversand]

so happy I found your videos Q: if I use a hardware wallet and transfer my coins, do I have to pay a transfer fee?? would appreciate an answer, I am a noob in crypto wallet thanks

[@cyberscrilla]

Thanks for watching! Yes, ANY transaction on the blockchain (where crypto is stored) requires a transfer fee (also called a gas fee). There’s no way around it. But generally, it’s only a couple of dollars. - Alex

[@harris998]

Can you tell us your thoughts about Ledger and their new recovery phrase update, would you still use ledger, u mentioned them in this video and other videos before

[@cyberscrilla]

I did not mention the Ledger wallet in this video. But to answer your question, I still DO use ledger. But it’s not my main wallet anymore. They lied to their consumers. So, although Ledger Recover is “optional”, what’s really in question is their integrity. Until they are fully open source (recently, the dashboard is open source with update 2.2.2) I’d opt for something different like Keystone, OneKey, or Ellipal. - Alex

[@JacksonvilleFloridaCommunities]

Do you like the mini Titan better than the regular Titan? If so why?

[@cyberscrilla]

The only difference is size and price. So I prefer the more affordable option (the mini).

[@Marc-nc9yv]

Also what about EMP. Will this kill wallet and thus your btc, honest question?

[@cyberscrilla]

Wallets such as Tangem are immune to EMPs. And since your crypto isn’t actually stored on a wallet even if it were destroyed, your crypto is still secure assuming you know your seed phrase

[@davehanlon2920]

I have been trying to download the software for my keystone essential but i vant get it i have tried to reach out to keystone multiple times but i can't get real help the just give me simple suggestions donyou have any suggestions on where i can get help trouble shooting my issues?

[@cyberscrilla]

I can try to help. What specifically are you having troubles with? Walk me through what you’ve tried step by step so I can best assist you For example: 1. I formatted the micro sd card to FAT32 2. I downloaded the latest multi coin firmware 3. I installed the firmware on the device 4. I checked and confirmed the checksum Also, this video where I setup my Keystone Pro might help you: Keystone Pro Hardware Wallet Setup (Quick Tutorial) kzbin.info/www/bejne/mnKplWh9erZrhJI - Alex

[@davehanlon2920]

@cyberscrilla thank you I finally got it I'm not even sure exactly what was happening but I'm good now.

[@cyberscrilla]

@@davehanlon2920 okay, I’m happy you got it figured out. Let me know if you have any other questions. Happy to help. - Alex

[@harris998]

What do you think about trezor? Trezor is the second most used cold wallet, yet you didn't mention them once, I want to change ledger because it is not safe since the last recovery phrase update

[@cyberscrilla]

I’ve never used Trezor. But, they don’t use secure elements in their devices and that’s something I personally like my wallet to have. Plus, the Trezor T costs $220. I can spend much less and get the Keystone Pro which is open source, air gapped, uses a secure element, biometrics and has a larger touchscreen. Maybe one day I’ll try Trezor. But there are better options (imo). - Alex

[@harris998]

@@cyberscrilla does that mean my trezor wallet can be hacked online, or is it an issue if it the device gets stolen

[@cyberscrilla]

@@harris998 Any hardware wallet can be hacked online via phishing links. That’s why it’s crucial to use it effectively like described in this video. Trezor specifically has a vulnerability that was discovered by Unciphered (they specialize in recovering seed phrases from wallets) and were able to get the seed phrase by soldering the motherboard to their own special device. As far as I know, Trezor NEVER fixed this vulnerability or recalled the Model T which is affected.

[@harris998]

@@cyberscrilla which trezor is more save then?

[@cyberscrilla]

@@harris998 Trezor Model T was designed to be “more secure”

[@Marc-nc9yv]

How can hardware wallets get hacked. If it’s off line and only you hold it how is it hacked?

[@cyberscrilla]

The most common hack is connecting it to a malicious website and the user literally signing over approval to the scammer unknowingly.