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Anyone found useful usage of ledgers already? (Useful: using it to store a privatekey that is not useless)

I am thinking of using it only with Sparrow, and creating a new key-pair outside of ledger app if possible. What do you think?

Also thinking just setting up a cold storage with an old phone with BlueWallet.

I just bought mine end of last year, and I don't like wasting money.

#ledger #coldstorage #bluewallet

bevo 2y ago

Is there any issue using it as part of a two of three multisig. Diversify the hardware you use for multisig devices. ????

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Discussion

Code & Psychology ⚡️ 2y ago

The concern Ledger has, that they can extract your private key from your device to store it in the cloud. Not really the purpose of a hw device.

tigs 2y ago

Yeah like Bevo said I thought they were good for multisig if you had nothing else but Ledger having the keys is plain... crap😩.

Thanks for letting me know CodePsychology

bevo 2y ago

Yep I get that but if the keys were extracted and it was part of a multisig. Only one ledger in the three devices then your still safe correct??

Realize it’s not optimum

moarch 2y ago

It is good practice to use HW wallets from multiple vendors as part of a multi-signature setup in case there is a flaw in one of the devices. Or you can use dice and create all the keys yourself.

bevo 2y ago

Agreed. Zapped followed🤝⚡️🧡