I wouldn't recommend it.
They had a lot of previous security leaks, and their ledger recover feature is a potential backdoor to your Cryptocurrency.
That being said I do own one but that's because I bought it back in 2020 before all that stuff happened.
OK.. so.. hypothetically... if you had one.. what would you move *to* .. and what would be the most cost effective way *TO* move to something else (i.e. without incurring transaction fees from moving crypto around)
In all seriousness.. asking for a friend..
I would use a blockstream jade. Very easy. Its easy on the pockets.
Jade is bitcoin only (thats a good thing). The best way to move on is to sell all your crypto and buy bitcoin with it. Then you can move all of it onto your Jade with minimal fees when the fees are low (you can use mempool.space to estimate fees).
It depends on your expertise level, and if you want multiple currencies, or at BTC Only.
If you want something simple with multiple currencies do Trezor ( https://trezor.io/ )
If you want something simple with Bitcoin only Foundation ( https://foundation.xyz/).
If you're more advanced Bitcoin Only I would say ( https://seedsigner.com/ ).
If you're advanced, and want Multiple Currencies then I would recommend getting a PC or Mobile Phone, and not connecting them to the internet, use Cold Storage Air-Gap methods, or Generate a Paper Wallet on an offline device.
Well in my case I would want a cold storage wallet that works with multiple currencies… but not sure about my associate. I think they only have BTC.
I recommend the Trezor, or The Air gapped cold storage set up.
Both guides below follow the same general set of principles, and can be replicated for most other cryptocurrencies.
Air gapped Cold Storage Guides ⬇️
Bitcoin:
https://en.bitcoin.it/wiki/Cold_storage
Monero:
https://www.monero.how/how-to-safely-hold-monero-in-cold-storage
Fully agree. Don't get a ledger, massive backfoor attack vector. I used to have several but have since moved on. They've come out and said that they can access your keys if subpoena'd. Hard pass.
Better options are NVK Coldcard or Blockstream Jade
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| They've come out and said that they can
| access your keys if subpoena'd. Hard pass.
That I had NOT heard. I’ll be sure to pass along that info.
Nuance: they can do this if you use their recovery feature.
That said, I agree with the people here... their motive is to make money and capture the NPC's in the market.
They leaked personal information and their customers faced the consequences, and their customers are not prepared to deal with the consequences because Ledger keeps them bubble wrapped instead of motivating customers to educate themselves.
The recovery feature will have consequences and many of their customers will face them while Ledger stands by and declares that the risks were clear to anyone who read the small print.
If you are looking to buy something for someone else, it is like buying them a semi automatic gun without any safety training. They will shoot themselves in the foot because they will take the path of least resistance and click all buttons that pop up and turn on all convenience options available to them without considering what their tradeoffs are.
