This video takes a quick look at a number different parts of your hardware wallet that work together to keep your crypto secure. This applies to both hardware and software wallets… (Ledger Nano, Trezor, Keepkey, Coldcard, MyEtherwallet, etc)
1) You seed phrase (recovery phrase, mnemonic, recovery sentence)
2) Your Passphrase, if you have one (25th Word, Hidden Wallet, seed extension, extra word)
3) Your device PIN
4) Your wallet password
Also, if you are stuck trying to find your finds, a source of info about derivation paths can be found @ WalletsRecovery: https://walletsrecovery.org/
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If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.
For your first purcahse, just stick with CoinBase: https://www.coinbase.com/join/5691c9d0a4c3a05dfa000151
For Trading, just start with Binance: https://www.binance.com/?ref=18111926
By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)
Don’t have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger: https://shop.ledger.com?r=5243ecbb8427
(If you are just starting out, I would just recommend a Ledger Nano S)
If this was helpful, feel free to send me a tip:
BTC: 37hiiSB1Poj6Shs8WawPS2HjT2jzHkFSQi
BCH: qr9qenlgjh0xlyz802h70ul69rpdj8z6qyuh7m79ah
LTC: MRWnUcsyofisVp5GvX7nxMog5caneycKZ6
ETH: 0xCe41d43349E1c8C53E02631650E236d94A899a95
VTC: vtc1qxauv20r2ux2vttrjmm9eylshl508q04uju936n
ZEN: znUihTHfwm5UJS1ywo911mdNEzd9WY9vBP7
#bitcoin #btc #ethereum #eth #cryptocurrency #crypto #ledger #trezor #security
28 Comments
Keep all your crypto safe & upgrade to a Ledger Nano X Hardware Wallet https://shop.ledger.com/pages/ledger-nano-x?r=5243ecbb8427
Alternatively, if you prefer a 100% Open Source wallet, a Trezor One is also a great value wallet https://shop.trezor.io/product/trezor-one-white?offer_id=14&aff_id=2922&source=YouTube
Nice video
dude can you recover my account ,thanks
Does the Seed words are Automatic generated ? or Factory wallet encrypted inside the cold wallet ? thank you for the info in advance .
@7:50 . if someone gets your Hardware wallet and get your pin, they can re install the Software in other computer ? 1) dont they need Enter some Sensitive information like Email, Seed words etc?. Thanks in advance . 🙂
Can you help me! I have my key phrase for my KeyWallet from 4 years ago but my PIN No longer seems to open it in order to put in my key phrase. How can I reset this hard wallet?
I’m new to crypto and find it rather confusing. Thanks so much for this explanation. Super helpful!
But I have a question: At 7:45, you say if someone has my Ledger Nano X and the PIN, they can download Ledger Live and access my crypto?? Don’t they still need the seed phrase for it??
If not, then what’s the point? That doesn’t seem very secure…
This is very confusing. What is my seed phrase connected to? Where would I go to use it, if I lost my hardware wallet? Does one seed phrase access all my coins or just one and does it access all the different addresses?
Brilliant, thank you for the easy to understand explanation 👍
More confused.. did u hv a gun to ur head n thats why u spoke tweeker fast??
Thanks! is there a way to recover passphrase in ronin wallet?
Hey quick question how can I get my seed phrase from my coin base account is impossible??
I have forgot my TENUP WALLET PASSPHRASE
CAN I recover it????
Well this is ridiculous this is no different than stuffing your mattress with your life savings and hoping your house doesn’t burn down when I put my money into my bank account if I lose my bank account information I know that there’s a way to recover my account because that’s your money we’re talking about here you can’t have this set up this is absolutely ridiculous I bet you there are billions of dollars lost in limbo at this moment
Do you know why does Ledger stores the passphrase on the device if not for validation?
This is a great video as it clears up alot of misconceptions. So if I am concerned that my seed phrase may be jeopardized, how would I change the 24 word phrase that I have saved? Does the device automatically generate a new set of words, and if it does this, how would I access my account? I am using a Ledger Nano S and Nano X both set to the same seed phrase, and I would like to secure the seed phrase by changing it. I guess I could add a passphrase to secure the old seed phrase, but that is just one word that needs to be cracked? Correct????? Any help in changing my seed phrase would be appreciated as I do not see any videos where the words are actually changed or if you get an option when you reset the device to get a new seed phrase. Since I have more than one Nano X or S, than the just changed seed phrase would have to have the accounts transferred into it via ledger live? This gets a little more confusing as it goes on and this is not discussed unless I missed a video.
What about importing mnemonic from a multi coin wallet to a single coin wallet are your other cryptos safe
ok so i lost my passphase on my ellipal titan or more then likly typoed with their tiny keeyboard and they dont ask to enter twice. like wtf!!!, what are the odds of recovering with your tools? Im freaking the f out.
Can I duplicate my Nano X on a Nano S?
Is it possible to change my recovery phrase on my Ledger Nano X without losing my crypto on the device?
Should you store your seed phrase on a password manager secure notes?
Thanks!
One thing you didn't mention wrt passphrase security, if you forget it, or you die, then just having the seed phrase isn't going to help you, bye bye funds. I guess this is obvious if you think about it, but do people think about it, how much crypto is lost thru forgetting, and writing down a passphrase seems contrary to the very idea of it in the first place??? Great recap, and I love your speech speed, perfect speed even for my old brain……
I need your help Iv lost or cannot remember my pass phrase on exodus is there anything I can do because iv been through all my pass phrases I'm at a loss please help
It sounds more difficult than getting all of the money in a centralized exchange OUT-!
So essentially if I decide I want a different passphrase in the future I'll have to migrate all my assets off of that wallet, create a new passphrase, then migrate all assets back over to the new passphrase wallet? Damn….I guess choosing wisely the first time is important!
what I don't understand is, these wallets give you your passphrase. What is to stop the creators of these wallets from keeping a database with every wallets seed phrase attached to those wallet ID's….. can we change our seed phrases on say a ledger nano?
Hi mate. Just wondering if a passphrase hidden wallet( vault )in a ledger or Trezor hardware wallet can b
Recovered by means of a software wallet, if you don’t have access to another hardware wallet. Cheers Steve.