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I have the ledger nano. Turns out that I don't have a compelling use case for it even though I own some crypto. If I wanted liquidity in my crypto (to transfe

I have the ledger nano. Turns out that I don't have a compelling use case for it even though I own some crypto. If I wanted liquidity in my crypto (to transfer or buy stuff) then I would just store my keys in my password manager which I seem to trust with the rest of my assets (I get crypto transactions are non-reversible). If I do not want liquidity then I really am better off writing/engraving my keys on something and into a safe. A combination of these two make the most sense for me.

capableweb 4y ago
I mostly use it for two purposes. 3rd factor for using my phone for cryptocurrency transactions and for a second validation of that the address, amount and data is correct, on a second device that is (theoretically) impossible to compromise and show something else.
bioemerl 4y ago
> I would just store my keys in my password manager The trouble here is the transfer of assets from the manager into your apps. Lots of opportunity for thefts or screw up. Imagine you use the clipboard and some random app happens to be scanning it.
- jmathai 4y ago
  Valid. I've accepted much larger risk by storing all of my other sensitive information in my password manager though. What crypto needs is a form of 2FA - turns out I don't care enough to have another factor that's only useful for crypto.
  - capableweb 4y ago
    Just as a FYI, Ledger also has a FIDO U2F application that I found useful for some things.
- abdullahkhalids 4y ago
  Modern password managers don't use the clipboard any more. They register a virtual keyboard and use it it to type into the user/password box.
  - bioemerl 4y ago
    That requires a level of software support that, coming from the side of refusing to use non open source software, I simply haven't seen yet. Android does well, but my experience with Windows has remained copy paste
olalonde 4y ago
The compelling use case is not having to store your private keys on your computer, even momentarily. Of course, if you don't deem that too risky, a hardware wallet will do nothing for you. That being said, I believe storing private keys on a general computing device is very foolish and you will likely find out the hard way. I wouldn't store any more in a hot wallet than the amount of cash I'd be comfortable walking around with in my pocket.

capableweb 4y ago

I mostly use it for two purposes. 3rd factor for using my phone for cryptocurrency transactions and for a second validation of that the address, amount and data is correct, on a second device that is (theoretically) impossible to compromise and show something else.

bioemerl 4y ago

> I would just store my keys in my password manager The trouble here is the transfer of assets from the manager into your apps. Lots of opportunity for thefts or screw up. Imagine you use the clipboard and some random app happens to be scanning it.

jmathai 4y ago
Valid. I've accepted much larger risk by storing all of my other sensitive information in my password manager though. What crypto needs is a form of 2FA - turns out I don't care enough to have another factor that's only useful for crypto.
- capableweb 4y ago
  Just as a FYI, Ledger also has a FIDO U2F application that I found useful for some things.
abdullahkhalids 4y ago
Modern password managers don't use the clipboard any more. They register a virtual keyboard and use it it to type into the user/password box.
- bioemerl 4y ago
  That requires a level of software support that, coming from the side of refusing to use non open source software, I simply haven't seen yet. Android does well, but my experience with Windows has remained copy paste

olalonde 4y ago

The compelling use case is not having to store your private keys on your computer, even momentarily. Of course, if you don't deem that too risky, a hardware wallet will do nothing for you. That being said, I believe storing private keys on a general computing device is very foolish and you will likely find out the hard way. I wouldn't store any more in a hot wallet than the amount of cash I'd be comfortable walking around with in my pocket.