Your Hardware Wallet Is Not As Cold As You Think | Ruben Merre, Ngrave

How do you truly own your assets? This session highlights the redefining of ownership in the crypto space. Hosted by Scott Melker with guest Ruben Merre, co-founder and CEO of NGRAVE.
Ruben Merre: / rubenmerre
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The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

[@pithra]

How are the QR codes generated? What makes their generation process secure? How do you know that there isn't a record of that QR code somewhere else?

[@BTCA-]

good question. We need to get an answer to this.

[@vandogtrailer6701]

You could ask that same question about any signature-passing process: QR Code, USB connection, NFC, Bluetooth, or micro sd card. The process that generates the signature to be passed to the broadcasting wallet is never going to be well understood by 99.9% of users.

[@pithra]

@@vandogtrailer6701 that's my point, it's touted as absolutely secure with no risks so trying to understand that

[@vandogtrailer6701]

@@pithra I agree. I read a critique of QR codes by a wallet maker who uses a USB cable. It struck me that all the vulnerabilities are mostly the same. Eg if a hostile actor intercepts the device then anything can happen. But a physical transfer of a sd card or optical transfer of QR has less attack vectors than a broadcast system. That said, if it's all equal, I choose QR for self contained simplicity. No broadcast and no accessory required.

[@pithra]

@@vandogtrailer6701 thanks for sharing your insights and perspectives :)

[@user-di5sq3db8s]

His statement about sharing seed phrases with third-party companies undermines the core principles of being a secure, cold wallet. If the government demands access, they'll have to provide your seed phrases. Not for me.

[@Harrow932]

Aslong as it's an optional thing

[@christtiti]

That’s true 😞

[@DavidBrumbeloeJr]

Really great interview with Ruben on Ngrave.

[@neiledwards5578]

If ledgers turn out not to be safe then crypto is dead. Why would any one carry on investing

[@MrJamesmister17]

That aged well 😂

[@_Tryllionaire_]

Man predicted the future 😳

[@dude3678]

Self-custody is the #1 problem that needs solved for mass adoption. Grandma needs to be able to self-custody her crypto. I can do it. If your watching this, you probably can too. But the masses don't want all these steps. Whoever solves this.... Makes it as easy as if it could be a 4-digit pin for debit transactions or ATMs.... Wins. I don't know the answer but been in crypto long enough to know that simplifying with safety is the key.

[@vandogtrailer6701]

I agree. But self custody is *always* going to be more burdensome that outsourcing custody. That's why banks were inveted. I think in practical terms, some of this will come as the generations turn over. I was surprised how quickly my 18yo daughter picked up what I was laying down despite no background or familiarity. Digital natives will get this. Grandma will be a very late adopter, if ever.

[@gevdarg]

Bingo. This industry is just not ready for prime time yet. I learned how to self-custody and I'm still at the same level of risk.

[@Taanstafl12]

Only solution is live biometrics

[@ismaelwali9809]

Tangem has done this already. check them out

[@nicholasawad2207]

Scott appreciate your hustle ... respect. But now you’re telling the whole industry “”wait wait - your Ledger is not good enough”” ?? 😏

[@NGRAVE]

This interview aims at demystifying many remaining issues with hardware wallets and 24-word seed phrases. It's worth a listen, you'll learn where the dangers are (and how to fix them)!

[@nombable]

This comment didn't age well as of Ledger update 2.2.1. XD

[@RedPillDiaries]

Never write down or expose your seed phrase in the presence of a digital camera of any kind.

[@tarantinopipp7455]

I have multiple copies of my phrase words, in a normal usb comprimed in a .rar with passwor, a paper in my moms house , but my phrase words are coded in my own encryptation system,so no matter what happens,if my house burns i have a copy in my mother's house,if it is stolen they dont know the .rar password,if they manage to decrypt the .rar and get the seed they need to figure it out how to decrypt the words, so have plenty of time to move all of my crypto in another wallet The most important i dont tell anyone i have crypto

[@mikerinaldi7170]

What if you encounter a surprise exit from life? Your own encryption?

[@209CryptoE]

Scott do you have a referral link for this Ngrave wallet?

[@markemma5]

What are all these cryptic replies, Scott? I guess I’m just not smart enough to know what this means…

[@e-action]

After the FTX scandal I'd be careful promoting crypto exchanges endorsed by celebrities.

[@johnwilliamson3164]

EAL-7 sure, but you are still going on-line for updates. By definition, not air-gapped all of the time. Right?

[@_Tryllionaire_]

Exactly, on their website it says “ fully "air-gapped", it does not rely on USB or any network connection capability “ But u update the device via usb while connected to the internet 🤷🏻‍♂️

[@carolinaboii1]

Thing to note, Evaluation assurance Level does not actually test the security of the system; but tests design, functionality testing etc..at the highest level. I’m other words they could finesse this product by passing these tests in order to get the stamp in order to se this product to the highest bitter!

[@Lupsipupsi]

at the end it's all about trust. Every hardware wallet could be compromised - if not by external hackers, by internal bad update code officially provides or predefined seed generators. And everybody owning a harware wallet where the company is claiming all code is open source published on Githib? How you check that indeed the open source code is running on your device? You opne it and look inside? It's all about trust. AND most crypto so far got lost due to self custody by people who screwed up the backup or simply died.

[@ThereRnoIDs]

He nearly made it to the end without swearing 😅 Still a great listen

[@johnwilliamson3164]

I used to be able to listen on my way to the gym but now my wife is going with me, that is not possible due to potty mouthing

[@bcvault1012]

None of those solutions solves the seed phrase hack problem. The onboarding for a customer should be easy and smooth. BC Vault solves that easy ;-).

[@executiveproducer]

I don’t understand the difference with SafePal? Its exactly the same QR code system. Also what guarantees the signature QR doesn’t hold the key?

[@NGRAVE]

What NGRAVE offers is a truly connectionless end to end solution and not just a cold wallet. ZERO is a connectionless hardware wallet, it is tamper proof and tamper evident. On top of that even if you break it or lose it you would be able to recover your seed or Perfect Key thanks to GRAPHENE the splittable encrypted backup. The advantages of QR codes is that the transparency of it offers great security since anyone with the technical knowledge can check that we do not share private information through the QR codes generated on ZERO. If we would share any private information, we would have already been called out on it ;)

[@nombable]

You can look at the QR code and see exactly what it contains.

[@Adrian-uc4ox]

When EGLD Staking on the Zero?

[@KSHA-Monaco]

We have been through the storm, the bankruptcies, the frauds, the crypto winter but if now you say that cold wallets like Ledger or Trezor aren’t safe , that’s enough, I am done with crypto… The idea of another Xmas with family and friends blaming you for investing in crypto is bad enough but if they can’t even feel safe with a cold wallet now… that’s too much. I guess it is better to opt out now .

[@boriskibirin4720]

I rather use trezor since it is open source, than trust some company with "certification".

[@yolo2124]

Trezor safer than ngrave???

[@evilarchy1984]

"A crummy commercial?!?!" - Master Ralph Parker

[@one_audio]

Feels a lot like a paid promo....

[@resiack]

Feels like a straight infomercial

[@brad6105]

Was informative for me. Who would you point your friends to for crypto security?

[@jeffthomas905]

Of course it is

[@NGRAVE]

Scott uses NGRAVE as his go-to wallet and simply asked our CEO if he wanted to have a fireside chat. Nothing paid, though we are grateful to Scott for the opportunity to highlight some issues that persist in cold wallets!

[@Sh4rpy82]

Good luck with your ledgers troops I’m out ✌️🤡🤡

[@williamblais1004]

Audio is hissing

[@kimmy9363]

OMG I might have to do the Carnivore diet . I need more brains 😳

[@gumballgamingclips2909]

The only problem with QR is that if someone elsewhere sends you a QR code to your phone, how tf do you scan your phone with your phone? We need to fix that

[@Birdpoo777]

Copy it into a clipboard?

[@vishwaasewgobind8006]

You don’t scan your phone with your phone. You take the air gapped wallet (the device) and scan the QR code that’s on your phone.

[@vandogtrailer6701]

Every interface I've seen allows you to generate a QR code for scanning OR copy an address for pasting into a text or whatever. Never been an issue.

[@yrp237]

The Zero has a camera on it so it can scan the QR code on your phone

[@jeffreybongos4837]

Don't put your crypto on an exchange. By the way, let me advertise this exchange and push leverage on you.

[@darinthesecularspiritualist]

i bot a ledger nano x to store bitcoin on cold storage. i got the ledger followed instructions and it did not work. cant talk phone and im not smart enought to use the type talk. ive officially capitulated bitcoin. ive been a bitcoin maximalist for 10 years. the commodity is superior. the support network to own bitcoin is disgustingly horrible and i will only come back when yall get your sh*t together

[@Porphyrogenitus1]

A platform that made a deal with a sports star! What's the worst that could happen! Just joking...I hope. I have a bitget account, too. But...I mean...um...yeah....

[@computercrisisohio]

ya this guy sounds like the next ponzi, won't be buying or using that key ever.

[@GoldenMindset966]

Ai can still figure out your backup

[@AndreAnyone]

Atomic Wallet has hacked, or inside job

[@johnwink9587]

I know what NOT to use, never trust anything the Liberal of all st. reccomends, absolute rookie