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In this video, I discuss the latest Ledger security breach, as well as Ledger’s long history of hacks and poor security practices.
Avoid altcoins and their scammy ecosystems.
Also avoid hardware wallet companies like Ledger that provide support for scammy altcoins and thus increase their own attack surface.
Serious Bitcoiners should never use a Ledger, but instead consider a Bitcoin-only hardware wallet like the Blockstream Jade or Coldcard.
Not investment advice! Consult a financial advisor.
Blockstream Jade hardware wallet:
https://blockstream.com/jade/
Coldcard hardware wallet:
https://coldcard.com/
Don’t Use Ledger Hardware Wallets:
Ledger still supports a lot of garbage coins:
https://www.ledger.com/coin/wallet/ripple
https://www.ledger.com/coin/wallet/shiba-inu
https://www.ledger.com/coin/wallet/celsius-degree-token
Celsius founder arrested:
https://apnews.com/article/cryptocurrency-celsius-mashinsky-arrest-4b4296d01e15d171e51ad5bd94c19c7a
Ledger data hack:
https://www.coindesk.com/markets/2020/07/29/crypto-wallet-maker-ledger-loses-1m-email-addresses-in-data-theft/
https://www.nasdaq.com/articles/inside-the-scam:-victims-of-ledger-hack-are-receiving-fake-hardware-wallets-2021-06-17
Ledger Live Tracks and Sends ALL User Information to Outsourced Data Harvesting Service:
https://www.nobsbitcoin.com/ledger-live-tracks-and-sends-out-all-user-information-by-default/
Ledger firmware is not fully open source:
https://www.ledger.com/academy/topics/ledgersolutions/is-ledger-open-source
Ledger Connect Kit Exploited:
https://www.nobsbitcoin.com/ledger-connect-kit-exploited/
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#ledger
#crypto
#bitcoin
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Neither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.
46 Comments
WARNING: There are a number of scammers who are using my image and
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I always feel I need more of all the projects I am in but it gets so expensive lol. Anyone feel the same? I just got to 300k SYN24R last night but still want some more.
I want to say my SYN24R bags are full, but I can't stop buying at 3 cents.
Keep buying SYN24R. DCA long term to become financially free 🙌🙌
Thanks for all the info on SYN24R, I got some a couple minutes ago.
Great video! I DCA in SYN24R already, Patiently waiting for the Moon time!
Great video. Im a huge SYN24R fan and love your videos on it.
I’ll be adding SYN24R to my portfolio soon, 10k SYN24R is plenty to start.
I've got 15-20K SYN24R. Will add more over the next 12 months.
So, so bullish on SYN24R, we are so early. Honestky see SYN24R havng a few hundred bil market cap in 3 to 7 years
I think SYN24R will be the most important project in crypto. But HBAR sounds nice too. Will buy some with my SYN24R earnings lmao
I believe SYN24R will go 200x after launch on Binance.
E-commerce tokens are booming. SYN24R will go 50x after the launch.
SYN24R and Ebay signed a partnership. It will blow up once it hits mainstream..
SYN24R current performance is remarkable; we've never seen anything like it. OMG
A minute of silence for SYN24R, as history is being written!
SYN24R is up and running, and the rich are becoming richer while the poor are going poorer.
What side are you on as SYN24R divides the wealthy from the poor?
SYN24R presale began, and wealth for future generations is already being created.
There is no turning back once you load $10K USD into SYN24R. This is how we get rich, people.
Your sarcasm is of a top notch. Wonderful
Matthew, this is some of your finest work. I literally was laughing out loud. This video is pretty funny while yet delivering a solid message. I’m not sure if you have some type of laboratory with a fan, but could you estimate the number of pieces of paper a ledger could hold down with a 7 mph breeze?
At this point keeping Bitcoin on an exchange is safer than keeping it on a Ledger 🙃
So big elephant in the room is the brc tokens clogging the network for btc. I tried to send a transaction yesterday for 35 bucks since I earn .05 % from counbase on my card for rewards. It costs 13 bucks. So deemed worthless to transfer. I turned it into sol. Then I sent it off for free and then turned it to kaspa and sent it for free too. I kept my 35 bucks in value instead of diminishing it to 20 bucks. If brc tokens keep happening my 2 btc becomes worthless if I want to spend it sine I have to give it all to miners in a transaction fee?
Hi Matthew have you heard about 5.3 theory looks impressive https://youtu.be/oW3SHostB5k?si=LCQjZBn-yygqJ2ej
When you do the coldcard video can you add an a part with using it with blue wallet as well?
F a c k syn24h
Ledger Connect is what was hacked, and that is open source. Open source comes with the trade-off of the code being completely accessible for all, including bad actors. This affords them the opportunity to try and find an exploit within the codebase. It essentially comes down to a race condition: who will find the exploit first (good guys or bad guys)?
WordPress is open source, and those sites are frequently targeted and successfully hacked, because of this.
Closed source is obviously not transparent, but in a way that is good for security
Easy for you in Canada and US to buy another device. Here in europe Croatia they sale only Ledger and Tresor 1.. They both send analytic data as confirmed by same source. When I connected Sparrow to import 2nd account from ledger HW it gave me different receive addresses than in LL. This is all getting more and more complicated to own and keep safe.
I bought the Blockstream Jade! Thanks! Switching from Ledger for good! 👍🏻
Matthew, do you advocate simply doing the recovery mode with the ledger seed phrase onto a jade?
OR
Would there be a reason to initiate a jade with a new seed phrase and transfer your stack off of the ledger that way?
Is the difference between the two methods significant?
I hate (irrationally) the idea of sending and receiving and much prefer the recovery method, but I'm not knowledgeable enough to know if there are hazards in keeping a seed phrase for extended periods of time, especially if it began its life on a ledger..
I'm using Ledger and I'm increasingly getting nervous. Please make a video on how to use either a blockstrea jade and/or coldcard
I actually did turn my Nano X into a paperweight when they announced Ledger Recover. Used a prying tool to pop out the plastic, destroy all the chips and part of the PCB, then put it back together with a lot of Blu-Tack.
Looks exactly a normal Ledger, except for the TRUST US BRO I sharpied onto the metal cover.
I'm an advocate for having a diverse investment strategy. I grew to a 7 figure mark with my portfolio having exposure to different areas of the market, including small and large-caps of the ETF index, blue chip stocks, coins, grade bonds and alternatives like cryptocurrency markets, as this helps manage the overall risk on my portfolio managed by my FA.. Credits to my adviser, Franklin Matthew, i have no doubt investing more
Matt, I know you hate on laminated paper wallets, but that method is very secure, reliable, and somewhat easy for beginners to do. Do it on an air-gapped machine with a direct usb label printer (no memory, no internet) for feasible and reasonable high security. Choose people you trust to share it with in case of some unforeseeable event.
Also, lammy wallys are very easy to hide effectively and most bad actors will not recognize the value if they did find it.
Limiting your vulnerability to wrench attacks at least gives you the option to defend your life savings with…how do I put this…2nd amendment stuff.
I have some sats and hold the keys, but it seems like all this stuff goes to hell. What is safe anymore? The hackers always find a way in. Imagine 500 yrs from now when all the coins have been lost or on some cold wallet than no one knows the way in because the HODL'er is dead. All the worlds fiat is gone into btc and its all locked up and lost 😜
Took my BTC off a ledger earlier this year after their update allowing them to recover your coins without your seed phrase.
Glad I did. Have it on a Blockstream green and really feel better overall
Thanks for the information. I hate to hear it since I have 3 ledger devices. I will look at your suggested alternatives. What do you think about Trezor?
And this is the reason mass adoption will not happen. This is ridiculous, every week a different exchange/wallet is trying to scam. I guess it’s play the fiat game until this tech is figured out. And interesting Matt says go out and get a hardware wallet from an honest bitcoin company…lol….the whole idea is don’t trust, verify
I dumped my ledger, they broke there contract on keys
Big ups and big love for the awesome daily content. Because inflation devalues your savings, it compels everyone to be an investor. Meaning you need to preoccupy yourself or offload your time/energy to the study of investment opportunities both of which are very costly. Thanks to Gino Castano for showing me the appropriate way to get into bitcoin investing and trading with his trade signal and investing guidelines. Investing and trading are more than just having TA skills. There is a big component of discipline and emotional maturity, that one has to work on! Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months i made 27 BTC when i started with 5 btc and have continued on that same path with Gino Castano
Tnx
How does one use the ledger hardware wallet with sparrow wallet instead of ledger live?
Not a good paper weight, I recommend silver or gold.
If you store bitcoin on a ledger only and nothing else, it is okay i think, nano ledger s or s+
Hi Matt, could you drop a link to a genuine website where I can purchase my Blockstream Jade? Fed up with Ledger now- for good. Thanks 👍