Best cold wallet for a newcomer - what's your recommendation?
Xenia Volnistaya
3 replies
Hi all! 🚀
The last week has been very busy for everyone trying to develop and participate in Web3. FTX's bankruptcy showed that even big companies are not immune to failure (and it's not just about crypto). And the phrase "not your keys, not your coins" is the main lesson of this situation, and not surprisingly, many are thinking about "cold" storage. Being a girl with a shopaholism, I'm actively looking for a new plastic house for my ETH and DOGE. 👀
The big question is which to choose: ̶ ̶R̶e̶e̶b̶o̶k̶ ̶o̶r̶ ̶N̶i̶k̶e̶?̶ Ledger or Trezor? From Twitter, it seems like everyone is using Ledger, but I'm not sure. 🤔
Which one is better? Or are there more affordable options that aren't inferior in quality?
Thanks!
P. S. This is my first post on PH, so hopefully, it doesn't look too naive 😊
Replies
Michael Flux@michaelflux
Both Ledger and Trezor are solid options. More people like Ledger as its a bit more user friendly for beginners, but really can't go wrong with either one.
Not to state the obvious but if you buy either one, buy it brand new and directly from the official stores, not used from eBay. 🙃
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@michaelflux thanks for your suggestion! I've heard about the possibility of getting into an already used wallet on eBay, so official stores only 😁 Btw someone said that it's possible to use an old phone for this purpose, but I'm a bit scared)
@new_user__3202022e8a1beeeb71238db My biggest hesitation with using old phones for purpose of wallets would be the possibility of eventual hardware failure, or it being accidentally connected to the internet and being compromised from running outdated/unsupported operating systems.
I'd probably feel more secure with just paper wallets which could be stored in safes/safe deposit boxes at multiple locations for redundancy vs using old phones.