so if i bought a Ledger Nano S, or a Trezor and throw my coin in there, would that work just fine regardless of what happens?
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so if i bought a Ledger Nano S, or a Trezor and throw my coin in there, would that work just fine regardless of what happens?
You should always have copies of your private keys, if you don't own the keys you do not own the coins. Whatever wallet you are using now get it to give you your private keys and write them down or move them and your wallet.dat file to an offline device. Cryptosteel makes a great cold storage device. I had an issue a while back where I could not get my wallet to sync for over a month so I could not access my coins. What I did was grab my private keys and plug them into a different wallet, problem solved. You can use Electrum to take the private keys off of hardware wallets. I like both Ledger and the Trezor either one of them would do. The Trezor looks cooler but the Ledger would be easier to hide as it looks like a USB stick, but in all honestly they both work great and are peer reviewed. Just so you know Trezor will be coming out with their 2.0 wallet that should be available by the end of the year. All coins that you do not plan to spend in the next 6 months should be offline and backed up at least twice. I only use hardware wallets as my hot-wallet for coins that I might spend in the next 6 months.
i have a ledger nano s .. is this safe for if there is a bip148? ... also whats the difference between private keys and a recovery seed? .. how do i locate my private keys with my ledger s?
I am pretty sure these guys are going to try and fork the network to force Segregated Witness on people. They will fail. Ledger does support this minority chain. The private key is the actual address where you Bitcoins are stored. A recovery seed is a group of private keys that can be restored on most devices. The advantage of using a recovery seed is that if you accidentally send some coins to a change and delete the wallet you can recover the change address. Private keys are the most low-level basic way to retrieve your Bitcoins and recovery seeds are an encrypted 2 layer way to recover the keys. You always want the direct simplest way to retrieve your keys. If somehow something happened to the second layer and you had your private keys you would be able to recover your coins. Where if you only had the seed, that is now broken you are SOL. If you had your private keys you would not have to worry about what these ass hats were doing. You can have a recovery seed and have your private keys at the same time.
Thankyou for replying .. so how would i find my private keys in my ledger wallet?
Please i need help I'm a newbie. I lost access to my blockchain.info wallet. I don't have my seed but i have my private keys... I mean the login ID keys n my wallet address are the private keys right?. How can i recover my coins. Please help me Adam