Perfectly answered, what a legend

You, dear Sir, are the Buddha of Cryptocurrencies.

i repeat that 24 words silently in my mind every night before i go to sleep

More important to have more than one wallet (more than one seed), each one backed up in different locations. So even if the worst happens, u never lose all your coins.

Always great to have the basics reinforced, thank you Andreas for all that you do for crypto!

For me, it's a trezor model T with the passphrase feature enabled. The passphrase just protects me in case someone managed to stumble upon my 12 word mnemonic. 12 words instead of 24 because I can effortlessly memorize them, and even though the 12 word mnemonic is only 128 bits of entropy... according to several entropy calculators, my passphrase bumps up my total entropy to 298 bits. Add two backup Trezor One's to the mix for redundancy and that's about as secure as I ever care to have

thanks Andreas ! You have been my greatest Bitcoin guru since 2014. bless !

The biggest threat to having crypto are big mouths. as in rich people who own expensive artworks and like to show it off so can bragging about how many bitcoins you own can get you a visit from not so savory characters.

430 stainless steel sheet and metal punch set for stamping the phrase is perfect against corrosion or fire.

Gratitude for everything you have contributed to Bitcoin awareness and educationa over the years.

Short answer: Yes! (11:35) It's worth watching the whole video though.

simplicity is the hallmark of genius

Every single crypto investor needs to see this

I suggest you pick a day of the year to check on your backups...make sure theyre still there, undamaged, you still remember everything. This is something practical you can do, once per year to ensure its safety. Also, make sure you have a method of passing on in the event of your death, if thats important to you.

The teacher has spoken!

Seen this topic covered in many of your longer videos/lectures, but this video is really great as a standalone.

Perfectly perfect....experience, knowledge, Skills all together at one place...thanks

Even a bitcoin core dev messed himself up putting his seed phrases in an internet connected device but he thought he was safe because he encrypted it in a file BUT he put his password manager on the cloud or something like that and the attackers got to it…. Your keys in an hardware wallet with updated firmware IS SUBSTANTIALLY BETTER than some crazy setup some of these “experts” suggest.

thank you Andreas! And thanks to Adam Meister for bringing me here!

I do appreciate a lot your content Andreas. Thank you a lot ! BUT PLEASE FIX YOUR MIC / audio is oversaturated and not crystal clear...

Perfect

Great questions and answered, liked the one about whether security lessens over time. I have a tendency to think i need to keep doing something to preserve security.

Perfect statement @1:00 - @1:45

This is great. Thanks Andreas for your great work in the space!

No. Ledger taught us (by accident) that they easily have access to our private keys. They originally swore that it was impossible.

Isn't there also the risk that Trezor or Ledger releases a malicious firmware update?

Perfection - doing all of this already and did this right from day 1 (even with my tiny amount of crypto) - if I didn't want to lose this amount in a wallet or bank account then I felt I needed to protect it here in this space, and I have one of the copies in a fireproof, waterproof lockbox that only my trusted people know about in case something happens to me! No regrets in the worst case scenario of any type.

Good explanation. Even high technical and professionals fucked up. Look at what happened to quadrigacx. The ceo died and he was the only one who knew how to retrieve fund from their cold storage, 190millions usd lost... Keep it simple and make sure your siblings knows how to retrieve the funds when you are gone.

Thanks again for all you! You’re helping thousands of us.

Thank you for the explanation, I have the hardest time explaining to others levels of security one would use

I smiled like an idiot with your explanation, you explain it BRILLIANTLY! THANK YOU!!!!

Concise nonbiased information

Thank you Andreas! I was just wanting this question answered! You’re answer makes perfect sense and is exactly what I am going to do!!

Ty for increasing the volume on your videos.

Your Wealth of Knowledge Is Amazing! Thank You.

Thank you Andreas !

The last part was cool. Nice one. Thanks

Excellent project

THANKS YOU for addressing this issue. I had the exact same question/complaint about Trace's assessment. I thought Trace's opinion was WAY TOO COMPLEX for the AVERAGE person and that he was being quite pompous to not address how THE AVERAGE PERSON should handle security. While it is OBVIOUS that it will differ depending on the level of expertise - Trace makes it should as though - his suggestion was the only suggestion and if you don't use that COMPLEXITY - you are at risk. I agree with you 100%. You are AT RISK if you don't understand how YOU can best secure YOUR keys. Simply put - If you try to do something you don't understand - You are at GREATER RISK.

As always, AA has the answer. Thank you.

Hi Andreas, great answer. Thank you ! Did you manually edit the google subtitles? Some words have been added in square brackets like "Ledger" becomes "Ledger [Hardware Wallet]". Some things have been removed like "Umm so here's the thing." --> "Here's the thing:" and phrases changed. "The different audiences, different groups of people are going to have different risk models and they're also going to have difference ahh tolerances for technical complexity" --> "Different groups of people will have different risk models and tolerance for technical complexity". Just curious as to whether you uploaded the subtitle script, or whether google AI made the modified script from the audio.

Great content. Thanks for breaking it all down for us.

Polymer paper + lamination + tamper proofing.

Wise words from a wise man. Andreas always makes me feel better about owning crypto

Kraken directs users directly to this video for an explanation of why they're not a wallet service and why we should consider a 'hardware wallet.' I haven't watched the video yet. I've been learning about crypto for less than a week, and here to learn. Just thought someone might appreciate knowing.

Excellent advices.

And telling the truth gets you a sub.

Great answer

I have ledger and don’t recall being given an additional “pass phrase” with my 24 word seed.

Excellent advice. Thanks Andreas!

What if the hardware wallet company goes bankrupt and you loose the hardware wallet but you have your seeds all save how can you get access to your cpbitcoin?

how secure is a bluetooth hardware wallet like this nano x for example?

Very well said, Andreas.

What the hell is that 4-6 pass phrase that goes t protect the seed? How do you create that?

Perfect advice! Thanks!

Thanks Andreas!

You are the man Andreas

Great answer Andreas !!

Hi, you are absolutely Genius, happen exactly to me I lost my crypto I don’t know even how I send but I didn’t receive on my wallet and no customer service from ledger nano x.

Beautiful response

Great stuff as always. Legend!

i think the guy that ask the question probably wants to add complex security layer on top of what he has. this is dangerous as too much security without proper management is dangerous.

Otimista

Thanks

Brilliant answer

The key reality is that most people simply will not take all of these extremely onerous steps of writing seeds and phrases on separate pieces of paper, in triplicate, to then store them in multiple locations, in order to protect their cryptocurrency. This whole process needs to be made much simpler or crypto will never achieve mass adoption. There must be a way to combine cryptographic protection with 2 factor authentication to so that there can be one electronic storage space to back up what the user also writes down and stores in their home, or another secure location.

Simple you use the Blue Protocol wallet way way better than a trezor or ledger and has additional security features no other wallet has , basically the most secure wallet presently available

How to verify a file signature of the trezor bridge?

How would one add a passphrase to ledger nano? There is only option for a pin on the device? Would be great to do this since the 24 words might be guessed by some random person wanting to win the crypto lottery?

Answer the question!!!!

Really well stated, well done 👍

So hardware wallets are secure or not?

Thx

Hands up!

Know what you do not know

where can i download the Unobatinuim Linux distro ?

love this guy

seeds in metal cards

Morning Andreas. I have an absolute noob question. I have EOS accounts, and over the last few months started looking at Bitcoin. I seem to be confused whereby Bitcoin keys seem to be different to EOS accounts. In short, I bought a ledger to hold cold storage, but am unsure how it works. I have set it up with recovery seed etc, and then installed the Bitcoin APP, but am hesitant because I have not associated any private keys to it. Am I merely being a numpty? Are the keys already in it? Can I just send my exchange based BTC to it now? I feel this is probably far simpler than I imagine it. Chuck me a bone please LOL

The most of the hard wallet the brands say even if the hard wallet is damaged or lost for some how you can restore your wallet with the passphrase in any other hard wallet. So if that's the true, my question still in place how hard wallet still secure enough? How still secure against brutal force trail and error to find out my private key?

I don't like paper. I wrote my backup on a thin metal sheet with a permanent marker. I made 3 of them and cut them in half so I got 6 pieces. I have 2 pieces. 1 at home and the other in a bank. The other 4 I gave to different family members.

What is he talking about by pass phrase? Like encrypting the 24 word seed???

Love your channel!

Crypto Legend

Memorize the seed?

Great video

Sending you love from July 2024! ❤

sure this should be secure enough

this has the best likes to dislike ratio i have ever seen

100% Security should be proportionate to amount at risk combined with your technical abilities. Use your brain. Think through possibilities.. Know features of hardware wallets available.

Andreas for Secretary of the Treasury!!!

Anton, another great video. I have a question for you, if you or others on the thread could answer. I have 95% of my bitcoin on a Ledger. It has a 24 word seed phrase, which I have memorized. However, I don't know how to test it it works! I don't want to buy another Ledger and enter it in that. I'm hesitant to enter that phrase into a different wallet (Enjin etc.). What is the 'best' (compromise between convenience, security, cost?) way to test if a seed phrase backup works? Thanks!

summary: 10:43

Is there a list or diagram on these processes please? After all this is setup, I'm just a noob who would like easy day to day fruit juice purchases, with my savings safe.

Hi from Venezuela. Buy Bitcoin.

Anton's crypto is more secure than Fort Knox.

AA, is there a technical analysis tool that is used to find that "sweet spot" for individuals or enterprises? Would they use something like a SWOT analysis to assess an optimal solution?

You didn’t mention invisible ink ;-)

He talking about that sweet spot. Sounds like some good......... Nevermind.

Wow... Great vid